MBNA no CCA Partial Settlement offer

[Viscount Stair]

However, a well pitched (and very tightly drawn) offer might be attractive to a debt purchaser if you want the relative certainty of an F&F rather than chewing your fingernails for 6 years.

 

NDL have a factsheet with a draft F&F offer letter, which is a good start.

[out_of_the_red]

I get the impression that these short settlements are in fact the norm and it leaves you wide open to being chased for the balance down the road

[summerbreeze]

No letter today either BUT I did ask for a copy of my agreement to be sent with the letter and they dont have it .

[summerbreeze]

Still nothing ...

[summerbreeze]

Still no letter and still no CCA either ......

 

I wonder whats next ???

[out_of_the_red]

You must be close to a month since they made the offer yet still nothing in writing....they are so beyond crap!

[summerbreeze]

Yep they are !

However I am not over bothered . This loan has no CCA and they wrote to tell me they cant find it so I'm not paying .

I have other more pressing debts to deal with and enough on my plate for now.

[out_of_the_red]

You are lucky you got that letter, they simply sent me an application form thinking that will suffice.

 

This week I received a letter from them stating "Potential legal enforcement proceedings".....I could potentially win the lottery but I doubt I will....LOL!!

[WelshMam2009]

Hi SB...hope you're doing well!!

 

Well, MBNA have sold my debt on and have only provided a copy of their current terms and conditions in response to my CCA request. The lowest partial offer I received was in the region of 25%. Unfortunately, we're not far enough down the road yet to know if they will pursue any outstanding debt but, I personally won't be parting with any cash unless it's for a full and final settlement.

 

MBNA's policy appears to be to try and get their greasy paws on debtors money before anyone else does!!

 

I've read a number of threads where MBNA are sending out extremely confusing messages as regards the implications of these partial settlements. I still maintain the view that, if the offer is accepted, then it should be marked as full and final.

[summerbreeze]

Hi Welshmam [ not man ]

 

Well I wouldnt mind a low F and F on the other 2 MB accounts we have where they have just sent app forms and dodgy T and C but this account has nothing at all so not paying anything and if it gets sold on what can they do with no CCa?

 

If yours has no CCA how can the DCA chase you?

 

I am thinking af sending a letter regarding OHs account and trying to nail down a F and F.

 

I have seen it posted on here that it can be easier to get a F and F after a CCJ if you arent worried about getting a CCJ

 

Given the level of my debts I am almost certain to get at least 1 but OH is in better position and maybe a F and F before CCJ would be best for him .

 

Any thoughts on this ?

[WelshMam2009]

I have several defaults now...3 issued in the space of one week...so have totally given up on worrying about my credit report for the time being! I'm not overly concerned about CCJ's either as, my understanding is, that you pay in installments what the judge deems to be reasonable. My primary concern is a charging order and then possibly a move to force a sale.

 

You are within your rights to make a F&F offer to your creditors and perhaps this is something that you and your OH should perhaps consider?

 

DCA's typically pay between 10 and 20% so why not go in low and see if you receive a counter offer in return?? Have you CCA's them all so that you know if they have any agreements?

 

Have also subscribed to your other thread about the car finance and wishing you well with this also:)

[summerbreeze]

I have several defaults now...3 issued in the space of one week...so have totally given up on worrying about my credit report for the time being!

 

I only have 1 default so far and thats the car one

 

 

I'm not overly concerned about CCJ's either as, my understanding is, that you pay in installments what the judge deems to be reasonable. My primary concern is a charging order and then possibly a move to force a sale.

 

yes this is my worry also but I belive that a forced sale is less likely if the house is jointly owned

You are within your rights to make a F&F offer to your creditors and perhaps this is something that you and your OH should perhaps consider?

 

Yes I may go down that route for OHs account

 

DCA's typically pay between 10 and 20% so why not go in low and see if you receive a counter offer in return?? Have you CCA's them all so that you know if they have any agreements?

 

Yes done them all and have the usual dodgy app forms from MBNA and a couple of enforceable looking other ones

Have also subscribed to your other thread about the car finance and wishing you well with this also:)

 

thanks for that ! I am pretty scared :eek: about that one but getting some good advice

[out_of_the_red]

Any letter yet?

[summerbreeze]

Any letter yet?

 

Nope

 

Just a text asking me to phone them ... wont be doing that

[out_of_the_red]

Yes I had one of those today too....someone's been busy texting away....LOL!!

[out_of_the_red]

Just wondered if you had any update summerbreeze?

[summerbreeze]

I am back from a visit to see my grandchildren.

 

No letter

Edited May 19, 2009 by summerbreeze

[WelshMam2009]

I am back from a visit to see my grandchildren.

 

No letter just a default notice :eek:

 

Don't worry SB...MBNA always mess up their dates!!

 

Just make sure you keep the envelope.

 

If you let me know the issue date, remedy date and whether or not it was first or second class post I'll work it ot for you if you like.

 

Hope you had a great time with the Grandchildren:D

[summerbreeze]

Don't worry SB...MBNA always mess up their dates!!

 

Just make sure you keep the envelope.

 

If you let me know the issue date, remedy date and whether or not it was first or second class post I'll work it ot for you if you like.

 

Hope you had a great time with the Grandchildren:D

 

Hi WM yes it was a lovely visit and I feel refreshed

 

Edited May 18, 2009 by summerbreeze

[Viscount Stair]

I hate to break it to you but I don't think there was ever going to be a letter.

[summerbreeze]

I hate to break it to you but I don't think there was ever going to be a letter.

 

I have to say I didnt really expect to get a letter as I had asked that a copy of the CCA be sent with it !

[Talbot]

subbing

[summerbreeze]

Hmmm

Edited May 19, 2009 by summerbreeze

[JIG]

Hi,

 

Subbing...

 

My wife and I both have MBNA CC accounts and owe combined c£21k. Have for ther first time spoken to MBNA on the phone as have previously ignored phone calls following some quite nasty calls to my wife.

 

My wife is currently off on long term sick and is suffering depression and a very difficult time for both of us as we have always paid our way and not defaulted on any payments, but since her good salary has stopped we are in a terrible financial fix.

 

To this end following my various dicsussions with MBNA today (I am speaking on behalf of my wife) they have offered a partial settlement of 25% and they have categorically stated that the remainder will be 'written off' and not pursued by any other party and will be registered on credit file as partial settlement, which I understand to mean whole value of outstanding balance minus any payment in partial payment in 'settlement' of the account.

 

I have requested MBNAs offer to be sent on email and by hard copy letter outlining the offer and hope to negotiate down from the 25% start point to a value we can realisitically pay off to settle the account.

 

I have stated that I had written to them on 3 occasions highlighting our current situation along with a budget plan and stated that if they wanted to take me to court they would not really have a leg to stand on.

 

For the record I have CCA'd them also on separate letters, but have not received anything to date.

 

All we want is peace of mind as these are not the only CC debts we have, but they do make up a significant pot of the debt we owe and would be a huge relief to take a step in the right direction.

 

Any views would be greatly appreciated and thanks for reading(listening):-D

[JIG]

I think I have subbed properly this time so yet again....subbing!!