mbna

[littletot]

New to this. just wondering if any one can tell me if i i m moving in right direction.

mbna recently hiked my interest rate up to to 34.9%, only found this out after i wrote to them to ask what annual apr was as they had some monthly rate i didn t understand.. They approached me in 2005 in a bar where i had been drinking (in a theatre). I cannot remember what i signed. I stopped paying them 2 months ago. I asked for cca bout 10 days ago not heard nothing yet just letters of arrears and been reported to credit agency and they have now terminated my agreement.

 

Do i continue not paying them and do i write and tell them the reasons why or just keep asking for a signed credit agreement. I have been swotting up on cca 1974 etc.

 

Thanks

[MARTIN3030]

Welcome to the site.

How did you serve them with your request under the CC act ?

[littletot]

thanks for getting back to me. I sent a request stating 77-79 under cca 1974 and also asked for statements (sar). i enclosed postal order for 1 and 10 pounds stating it was for that purpose.

 

should i send letter stating i think account is in dispute for way they approached me as well ass not sending my credit agreement.

 

thanks

[littletot]

forgot to say- I asked for a signed copy of my agreement.

[littletot]

also, mbna only terminated the agreement after i asked for a signed copy of my agreement-don t know if this has any relevance?

[Gjb33]

Hi also new to this, I have a Mbna CC they have just hiked up my interest rate I've served them a CCA and SAR request yesterday. My question is does it matter if the card is cancelled surely the same agreement applies?

 

Cheers

 

Gaz(newbie)

[littletot]

Hi Gaz

 

yes i agree its still same agreement. If i don t get any luck with my signed copy request within 12+2 days then i will send the template letter from this site which includes the section 10 of data protection act. The letter tells them they cannot pass info to credit agencies ( something they have said they have done already) and cannot enforce the agreement.

 

currently looking for info on what are the prescribed terms & conditions within the cca.

[littletot]

Hi

can anyone tell me whether i should pay my two missed payments. I sent off for cca bout 10 days ago. I m wondering whether if i pay i am acknowledging the debt therefor it it gets to court this will be held against me?

[Gjb33]

Littletot,

 

I am currently upto date with all my payments, and I was also wondering the same thing, my beef is the amount of interest I have to pay to all these CC's. Some of the APR's are now at 34%!!!

 

So after they don't send the signed true copy of the CCA back do I stop or continue???

[diamondgirl]

If you don't get a response then you should send them account in dispute letter.

I would suggest as soon as you receive your response to the CCAs post them up on your thread so everyone can have a look, make sure you cover your personal details up.

DONT SIGN YOUR LETTER TO THEM either print, type of just initial the letter but never ever sign anything they send to you.

DG

[Gjb33]

Cheers Diamondgirl,

 

Does that include cheques?

 

I have done the first set of letter's SAR's & CCA's will get postal orders for them instead of cheques and will sign them with a false signature just to see if they copy it and I will photocopy the PO's just in case. Already got my next letter ready courtesy of CAG, will post any info I get back on a new thread.

 

Then I will send my reclaim charges letter out as well.

 

 

Cheers All

[Talbot]

might be wise to pay the month balance (as little as possible) until they are fully in dispute i.e. 12 + 2 days (not sure how that works on bank holidays) because it will look more favourable in the slim chance it goes to court. don't want to look like you have been unreasonable. What does everyone else think??

[guzzleguts]

Postal orders are best and make sure you send it recorded delivery, always leave a paper trail:)

 

GG

[littletot]

Thanks for that.

[diamondgirl]

Never ever send cheques to the only PO and write your account n umber on the back.

REMEMBER NEVER SIGN ANYTHING YOU SEND TO THESE PLONKERS things can be digital enhanced and I'm sure they have the gear to do this.

DG:)

[buzby]

Er, you're talking about fraud here - that's a VERY serious accusation. And probably unjustified. You forget they already have a signature on the original agreement and as a verification for the credit card- and if it comes to negotiations, I would expect the,m to at least be familiar with my signature.

 

Refusing to sign will end in a stalemate - they cannot be certain they are dealing with their client, and would most likely refuse to enter into correspondence.

 

It IS sensible though to use a PO, NOT for signature avoidance, but should it all go pear-shaped, there is little point in giving them the full details of your bank account should they later attempt to sequester it.

[kinganne4]

Hi everyone my first time here.

You dont know how pleased i am to know i am not the only one having trouble with mbna.

The problems i am having r driving me mad. I have to accounts with them and i owe more now than i did five year ago i have not used my credit card and although i had been paying everymonth they put my interest up more than once and they also passed me on to credit files and put my account on hold/

I pay both accounts at the same time they have taken all money of K1 account then they keep harrasing me telling me i am in arrears with the other account.

i am desperate now as i cant se any way out please can someone help me.

Kinganne4

[buzby]

Hi, welcome to CAG!

 

Well, it looks as though you may well be paying up the minimum amount allowed - the ongoing changes in interest rates will continue to affect you and I can quite believe you owe more than you did years ago, despite not making any purchases.

 

Providing you are still in a position to pay, you remain profitable to them and they'll take all the money you throw their way. Options include discussing the possibility of going bankrupt - this will end ALL payments and gibe you a clean start with a slight blemish. You could certainly hint to them that you plan to go down this route, and they may agree a 'full and final' settlement figure to end your liability to them. What is the total amount at issue with them?

[Blossomandebony]

Hi, Kinganne4,

 

I would firstly read around the site and become more aware of your options and, more importantly, your rights.

 

The next step may be to check the validity of the 2 accounts by sending this letter:

 

http://www.consumerforums.com/resources/templates-library/86-debt-collectors/581-cca-request-letter.html

 

If they have valid Credit agreements, then you may have to start negotiating with them, like Buzby says. If they do not respond within 14 days, with valid agreements, then the account is 'in dispute' (and they cannot legally enforce the debt until they can come up with the agreements).

 

BAE:)

[kinganne4]

No i dont make minimum payments always pay moor sometimes paid a lot more they just keep altering interest rates and they dont handle account well at all.

Surley if there are this many dissatisfied people something can be done about these robbing companies.

I do not need to go bankrupt as i can pay them i just think this is unlawful what they are doing/

[Talbot]

No i dont make minimum payments always pay moor sometimes paid a lot more they just keep altering interest rates and they dont handle account well at all.

Surley if there are this many dissatisfied people something can be done about these robbing companies.

I do not need to go bankrupt as i can pay them i just think this is unlawful what they are doing/

 

 

Not strictly true, all your doing is paying interest not your actual loan, not helpful to you is it. If your trying to pay it off they should be helping you not increasing interst to give you no chance of paying it off EVER!

[buzby]

It's most certainly not unlawful - if it was Barclaycard and their cohorts would be a distant memory. Similarly, just because lots of people find themselves in this situation doesn't mean that it is somehow 'wrong'.

 

Other tactics MBNA use that are quite legal - is to agree CC or loans to be 'unsecured' and charge a higher-than-average interest rate because of this. Once 3 payments are late, the issue a default, then place a charge on your heritable property (making the loan secured) but no reduction in the interest rates, also YOU end up paying for all their legal fees and charges to put the security mechanism in place.

 

Unfair? Totally - but 'the system' allows it.

[Talbot]

they can't put a charge on your property unless you've been to court already and agreed to pay what you can afford i.e. £1, £25, £50 etc. If you then miss payments (not sure how many) they can then apply for a charging order. That is my understanding of the situation, unles I have been mis informed.

[buzby]

This is quite correct - however they were quite devious. My job took me to Ireland and despite corresponding with me there, they kept up a parallel track of correspondence in the UK (which went unanswered, for obvious reasons). This meant they obtained judgement by default and the subsequent charge, despite my ongoing correspondence to their Irish office trying to get the account switch to Euros so that payment could be made. (For an 'International' bank - they failed miserably on that score).

 

The point still remains, their costs and loan remaining were secured - which was contrary to the original agreement.

[Talbot]

that is shocking and i'm sorry to hear it....