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MBNA sold to Experto - no CCA


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My wifes had the same letter,I didnt think they were supposed to encourage you to get into more debt and its carefully worded so they can deny they are but considering in my case they have ignored a CCA and a SAR and passed the debt to a DDA to collect whilst under dispute it seems they can just ignore all laws.

Complain, complain, complain. They must not suggest further debt to pay off existing accounts that are in trouble.

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How does the following statement from TSB credit card fit in to unfair practice?

Wanting to negotiate reduced monthly payments over a three month period the adviser states:

" Can you not borrow the money? have you not got another credit card to make the payment? "

Sorry to hijack, but seems Mbna are not alone in unfair practices.

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Well, if they are offering you a settlement of 5k against a 20k ballance, they know that they are in the Poo. It is VITAL that any settlement is full and final. Partial settlements are open to be sold, no matter what they say, so another DCA further down the line can chace for the ballance.

 

Lets see what the letter says when it arrives and we can form a response, if you have the funds to cover their offer and that is the way you are happy to go.

 

Vint[/quote

 

VINT letter arrived today

 

http://i713.photobucket.com/albums/ww132/Diamond40_photo/MBNASettlement001.jpg

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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also this morning, phone call from VIRgin MBNA offering partial settlement of 35% of debt - will not call "Full & Final" - was I aware of test case in Ireland (OCT 09) where a judge ruled in their favour that money was spent and it doesn't matter if there is no signed cCA!"

 

Keyboard gremlins are back as well1!!!!!!!!!

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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How does the following statement from TSB credit card fit in to unfair practice?

Wanting to negotiate reduced monthly payments over a three month period the adviser states:

" Can you not borrow the money? have you not got another credit card to make the payment? "

Sorry to hijack, but seems Mbna are not alone in unfair practices.

Not just unfair but against all guidelines. See the link in #178 above, complain to the OFT and FSA.

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Well, if they are offering you a settlement of 5k against a 20k ballance, they know that they are in the Poo. It is VITAL that any settlement is full and final. Partial settlements are open to be sold, no matter what they say, so another DCA further down the line can chace for the ballance.

 

Lets see what the letter says when it arrives and we can form a response, if you have the funds to cover their offer and that is the way you are happy to go.

 

Vint[/quote

 

VINT letter arrived today

If that is the way you want to go with it, then you need to respond very carefully, trying to get a full and final settlement. You will need to get a third party to make the payment.

Let me know what you want to do and we can draft a letter to go with the cheque.

http://i713.photobucket.com/albums/ww132/Diamond40_photo/MBNASettlement001.jpg

Vint

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Virgin MBNa also said if cannot get money together - then they can freeze interest and make payments £60 per month for 5 - 10years!

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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also this morning, phone call from VIRgin MBNA offering partial settlement of 35% of debt - will not call "Full & Final" - was I aware of test case in Ireland (OCT 09) where a judge ruled in their favour that money was spent and it doesn't matter if there is no signed cCA!"

 

Keyboard gremlins are back as well1!!!!!!!!!

Report her to the OFT.

 

If they say that again, tell them that Irish law has nothing to do with UK law, as well she knows and why is she trying to mislead you. It has no relevence.

 

You could try an offer of 20 - 25% in response.

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Vint

 

Ideally would rather have zero balance :D, but if settlment is the only way then it has to be full and final - husband said not even £1 if its not final" (sorry keyboard problems again - so taking forever to type)

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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Virgin MBNa also said if cannot get money together - then they can freeze interest and make payments £60 per month for 5 - 10years!

Then they are desparate to settle. It was MBNA that pulled out of the 2 test cases in Manchester a couple of weeks back, asking the solicitors what it would take to make the 2 cases go away.

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Ideally would rather have zero balance :D, but if settlment is the only way then it has to be full and final - husband said not even £1 if its not final" (sorry keyboard problems again - so taking forever to type)

The end result will be the same, looking at their letter. Either way your credit rating will be trashed.

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WHaT wuOLD YOu sUGgET the way forward would be it was you

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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Hi LB,

 

It realy has to be your and your families descission. If you want to settle, maybe write to them offerring a lower figure or agree over the phone as you are still talking to them, then confirm in writing.

 

I cannot decide what is best for you. Not knowing your possition I would not even attempt to advise on a figure, but if you do decide to settle, then we can help with the response.

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You could offer half now and the rest on confirmation that they remove ALL information from CRA's, if they want the money so desperately then it's always worth a try.

 

They may say that they are obliged to give information to the CRA's but again, they seem to abide by their own rules! Not the regulatory ones.

 

D50

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Our situation is that we have a flexible mortgage and we are able to get £5k total - this is not spare it goes back on the mortage -anything else would be loaned elsewhere. We have gone this far and trashed our credit rating, settlement would need to be final - or carry on regardless and see what comes???

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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Hi LB145,

I would personally turn them down. Firstly the letter you have isn't signed it has a name typed in a fancy font. That doesn't sit right with me. If they were 100% genuine why not do it right.

 

As you said if they agreed to a F&F then maybe but a partial settlement with a agreement not to chase the rest no way.

 

The part that interests me is "I can confirm the remaining balance will not be sold or passed on to any other company" so whats stopping them taking you to court? Why do they need a copy of your I&E? Sounds like a fishing trip to me.

 

Be very careful, it looks wrong to me.

 

 

Pumpytums

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Yes I was rather amused at the I&E sentence as well - just to top it the income tax bill arrived today - why do they send these things Christmas week - we know what is due we just do not need a reminder this week!!!

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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Just had MBNA on the phone for the second the second time this morning stating that they are prepared to wipe away 15k only as partial settlemen and that the recent test cases proves that if taken to court then we would lose and have to pay the full amount and if we do not make the partial payment the debt will be sold for the full amount to a third party on Thursday.

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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Just had MBNA on the phone for the second the second time this morning stating that they are prepared to wipe away 15k only as partial settlemen and that the recent test cases proves that if taken to court then we would lose and have to pay the full amount and if we do not make the partial payment the debt will be sold for the full amount to a third party on Thursday.

 

The rescent test case proves you would lose but theyre still prepared to write off 15k off debt?

 

Thats an unsual business strategy :rolleyes:

I have no legal qualifications whatsoever, so please check any input I have for accuracy. And please correct me if you disagree!

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MBNA Account 1 - rang yesterday re partial settlement- this lady really is aggressive in her tone - I told her that Irish court cases do not have relevance in the UK - she denied talking about Irish cases and that she has done everything to help me, I have spent the money therefore I should pay it - will be defaulting me today.

 

MBNA Account (Partners - the big debt)

Have rung again this morning - if not settling a partial then it is being defaulted today and the debt will be sold to a company who will want the full amount!

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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MBNA Account 1 - rang yesterday re partial settlement- this lady really is aggressive in her tone - I told her that Irish court cases do not have relevance in the UK - she denied talking about Irish cases and that she has done everything to help me, I have spent the money therefore I should pay it - will be defaulting me today.

 

MBNA Account (Partners - the big debt)

Have rung again this morning - if not settling a partial then it is being defaulted today and the debt will be sold to a company who will want the full amount!

Well you have done all that you can LB. Ball is realy in their court now.

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Hi Vint, Dotty and all others following thread - so just sit back and wait?

Halifax Card (OH) -2.9% reinstated - Sucess!

Santander/House of Fraser (1) PPI Refund plus 8% plus LOC

Santander/House of Fraser (2) PPI Refunded plus 8% plus LOC

Penalty Charge Notice - Representation accepted and PN cancelled - £120

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