All Credit Card Default Notice & Partial Settlement

[James007Bond]

Thank you diddydicky and & vint1954 for your quick response to my Newbie post under

“All MBNA Caggers Fight Against MBNA's underhand tactics”, …

 

Here goes, a new thread for

 

All MBNA Default Notice & Partial Settlement Matters

[James007Bond]

NEWBIE DN & Partial Settlement Advice - Please Help!

 

Have 2 MBNA Cards in defult since Dec08. Was making late minimum payments Apr08 to Dec08. Received 2 Default Notices Jul09 and Partial Settlement letter dated couple days earlier. I need guidance PLEASE from you all on any/all of the questions below, preferably based on recent experience with MBNA:

 

Q1. Any truth in media ads suggesting all debts and charges on CCA before Apr 2007 can be written off? What's been your experience with MBNA? How long does this process take? My A&L Card dates back from 2003 (MUG).

 

Partial Settlement covers total of both card balances as at Jul07. These balances are way over Credit Limits because Highway Robbers have been slapping CRIMINAL interest each month since late 08, plus Late Default Sum and Over Limit Default Sum.

 

Partial Settlement offer equates to 30% to pay of these Inflated Balances. They will register remainder of Inflated Balances, ie. 70%, with CRA's. They say they "MBNA will not pursue the matter any further".

 

Q2. What are my chances to get them to base partial settlement on Balances as at Dec08?

 

Q3. Am I likely to be able to negotiate a better offer?

 

Not that I can afford to pay the 30% within 60 days from my JSA! I trust my Friend (just one ... sad!) & Family will continue to support until I can start earning my own salary again.

 

Q4. I think my balances have been "Charged Off" Jun08. What does that mean in terms of my ability to negotiate, e.g. winding the clock back to Dec08 balances?

 

Q5. Any of you had luck getting through to 'Customer Assistance' on 01244 674515 (No. given on my Partial Settlement Letter)? My calls keep going to voicemail !!??

[vint1954]

NEWBIE DN & Partial Settlement Advice - Please Help!

 

Have 2 MBNA Cards in defult since Dec08. Was making late minimum payments Apr08 to Dec08. Received 2 Default Notices Jul09 and Partial Settlement letter dated couple days earlier. I need guidance PLEASE from you all on any/all of the questions below, preferably based on recent experience with MBNA:

 

Q1. Any truth in media ads suggesting all debts and charges on CCA before Apr 2007 can be written off? What's been your experience with MBNA? How long does this process take? My A&L Card dates back from 2003 (MUG).

 

Its not quite that simple. What are the reasons at present for holding off payment?

 

Partial Settlement covers total of both card balances as at Jul07. These balances are way over Credit Limits because Highway Robbers have been slapping CRIMINAL interest each month since late 08, plus Late Default Sum and Over Limit Default Sum.

 

Can you post the default notices

 

Partial Settlement offer equates to 30% to pay of these Inflated Balances. They will register remainder of Inflated Balances, ie. 70%, with CRA's. They say they "MBNA will not pursue the matter any further".

 

Short settlement means they will usually sell the ballance on to another agency. You are no better off unless it is a Full and Final settlement.

 

Q2. What are my chances to get them to base partial settlement on Balances as at Dec08?

 

Q3. Am I likely to be able to negotiate a better offer?

 

Not that I can afford to pay the 30% within 60 days from my JSA! I trust my Friend (just one ... sad!) & Family will continue to support until I can start earning my own salary again.

 

Never borrow money to pay off unsecurred debts.

 

Q4. I think my balances have been "Charged Off" Jun08. What does that mean in terms of my ability to negotiate, e.g. winding the clock back to Dec08 balances?

 

They charge them off against Tax. Is your statement ballance now at zero.

 

Q5. Any of you had luck getting through to 'Customer Assistance' on 01244 674515 (No. given on my Partial Settlement Letter)? My calls keep going to voicemail !!?? Do not call them ever. Only deal in writing.

 

 

The first action is for you to post your Default Notices.

 

Second would be to send off a CCA request.

[James007Bond]

Here's 1st Default Notice for MBNA A&L Card. Original CCA circa 2002.

 

mbna

MBNA Europe Bank Limited

Customer Assistance Department

P0 Box 30

Chester Business Park

Chester CH4 9FD

 

Our Ref: NOD

MR MUG GINS

 

IMPORTANT - YOU SHOULD READ THIS CAREFULLY

Default Notice

Served under Section 87(l) of the Consumer Credit Act 1974

 

7th July 2009

 

Dear MR MUGGINS

Credit Card Agreement: ‘4129xxxx

 

We refer to the above agreement which you have entered into with us. You have repeatedly broken your agreement with us by failing to make your minimum payments. Paragraph 8f of your credit agreement provides that, subject to sending you any notice required, you must immediately pay your whole balance if you repeatedly break this agreement and fail to sort the matter out. A stop has been placed on your card and a default has now been registered against this account at the credit reference agencies.

 

This statutory notice is to tell you that, iii order to remedy this breach, you must pay the full amount of your outstanding balance which is £11,800.00 by 24/07/2009.

 

IF THE ACTION REQUIRED BY THIS NOTICE IS TAKEN BEFORE THE DATE SHOWN NO FURTHER ENFORCEMENT ACTION WILL BE TAKEN IN RESPECT OF THE BREACH.

IF YOU DO NOT TAKE THE ACTION REQUIRED BY THIS NOTICE BEFORE THE DATE SHOWN THEN THE FURTHER ACTION SET OUT BELOW MAY BE TAKEN AGAINST YOU

 

On or after the date shown, your account will be closed and your credit agreement will be terminated. We may also take court proceedings to recover the whole amount owed by you to us. Further statements will not be issued. Please note that if we terminate your credit agreement, you will still be personally liable to pay all amounts which become due to us, for example, any subscriptions and regular payments that you have not stopped or outstanding credit-card cheques.

 

IF YOU HAVE DIFFICULTY IN PAYING ANY SUM OWING UNDER THE AGREEMENT OR

TAKING ANY OTHER ACTION REQUIRED BY THIS NOTICE, YOU CAN APPLY TO THE

COURT WHICH MAY MAKE AN ORDER ALLOWING YOU OR ANY SURETY MORE TIME.

IF YOU ARE NOT SURE WHAT TO DO, YOU SHOULD GET HELP AS SOON AS POSSIBLE.

FOR EXAMPLE YOU SHOULD CONTACT A SOLICITOR, YOUR LOCAL TRADING

STANDARDS DEPARTMENT OR YOUR NEAREST CITIZENS’ ADVICE BUREAU.

 

This notice should include a copy of the current Office of Fair Trading information sheet on default. This contains important information about your rights and where to go for support and advice. If it is not included, you should contact us to get one.

 

Yours sincerely

Jennifer Matthews

Head of Recovery & Risk Operations

[James007Bond]

Here's 2nd Default Notice, for MBNA Vgn Card. Original CCA 2008

mbna

MBNA Europe Bank Limited

Customer Assistance Department

P0 Box 30

Chester Business Park

Chester CH4 9FD

 

Our Ref: NOD

MR MUGGINS

 

IMPORTANT - YOU SHOULD READ THIS CAREFULLY

Default Notice

Served under Section 87(1) of the Consumer Credit Act 1974

 

7th July 2009

Dear MR MUG GINS

 

Credit Card Agreement: ‘5407xxxx

 

We refer to the above agreement which you have entered into with us. You have repeatedly broken your agreement with us by failing to make your minimum payments. Paragraph 8f of your credit agreement provides that, subject to sending you any notice required, you must immediately pay your whole balance if you repeatedly break this agreement and fail to sort the matter out. A stop has been placed on your card and a default has now been registered against this account at the credit reference agencies.

This statutory notice is to tell you that, in order to remedy this bieach, you must pay the full amount of your outstanding balance which is £14,390.00 by 24/07/2009.

 

IF THE ACTION REQUIRED BY THIS NOTICE IS TAKEN BEFORE THE DATE SHOWN NO FURTHER ENFORCEMENT ACTION WILL BE TAKEN IN RESPECT OF THE BREACH.

IF YOU DO NOT TAKE THE ACTION REQUIRED BY THIS NOTICE BEFORE THE DATE SHOWN THEN THE FURTHER ACTION SET OUT BELOW MAY BE TAKEN AGAINST YOU

 

On or after the date shown, your account will be closed and your credit agreement will be terminated. We may also take court proceedings to recover the whole amount owed by you to us. Further statements will not be issued. Please note that if we terminate your credit agreement, you will still be personally liable to pay all amounts which become due to us, for example, any subscriptions and regular payments that you have not stopped or outstanding credit-card cheques.

 

IF YOU HAVE DIFFICULTY IN PAYING ANY SUM OWING UNDER THE AGREEMENT OR

TAKING ANY OTHER ACTION REQUIRED BY THIS NOTICE, YOU CAN APPLY TO THE

COURT WHICH MAY MAKE AN ORDER ALLOWING YOU OR ANY SURETY MORE TIME.

IF YOU ARE NOT SURE WHAT TO DO, YOU SHOULD GET HELP AS SOON AS POSSIBLE.

FOR EXAMPLE YOU SHOULD CONTACT A SOLICITOR, YOUR LOCAL TRADING

STANDARDS DEPARTMENT OR YOUR NEAREST CITIZENS’ ADVICE BUREAU.

 

This notice should include a copy of the current Office of Fair Trading information sheet on default. This contains important information about your rights and where to go for support and advice. If it is not included, you should contact us to get one.

 

Yours sincerely

Jennifer Matthews

Head of Recovery & Risk Operations

[James007Bond]

And here's the Partial Settlement Letter from MBNA Covering the Balances on two previous DN's

Please note the deliberate confusion with dates "If payment is not received by the 27th of June 2009 the short settlement agreement will be void." !?

 

mbna

 

MBNA Credit Card

Chester Business Park

Chester

CH4 9FB

 

MrMUG GINS

July 02, 2009

 

Dear MUG GINS

Account: 5407xxxx

Accounts 4129xxxx & 5407xxxx

 

The following balances are outstanding on the accounts.

£11000.00

£14000.00

 

I can confirm that we can accept an offer of £7800 as a partial settlement across these accounts.

 

To prevent the Default on the 27th of June 2009 we need the following payments:

£535.00

To prevent the Default on the 27th of July 2009 we need the following payments:

£52 1.00

 

If we can assist regarding this, we can deduct the June and July payments from the settlement amount £7800

which would mean £6744 left to pay 60 days after the first payment.

 

Once payment is received MBNA will register the remaining balance as a partial settlement with licensed Credit Reference Agencies, however you will not have to repay the remaining balance and MBNA will not pursue the matter further.

 

If payment is not received by the 27th of June 2009 the short settlement agreement will be void.

 

If you have any queries regarding the above, please contact our office today on

01244 674515, extension 14611, and ask for Joy Hunter.

 

Yours sincerely

Joy Hunter

 

Customer Assistance

VCA 3SCA I-I UK-EN xxmmxxxx - 0000

[James007Bond]

Hi Alis

 

Thank you for your detailed posts, some of which I have browsed.

I am a Newbie in serious debt. I wonder can you give me further specific guidance :

 

- Can I request CCA on my Egg Card and follow through process you have outlined here if I have not maintained minimum payments for many months?

 

- I have this week received demand for payment from 3rd Party: Fredrickson International Ltd, Debt Collection Service. Anyone have experience of these guys?

 

- I have not been able to use their online service because they disabled my online access after couple of missed payments. I think they had been charging me PPI. How does this affect my situation?

 

I have also more issues and questions under New Thread "All MBNA Default Notice & Partial Settlement " if anyone can HELP PLEASE

 

Here's the Demand Notice from the DCS

 

Fredrickson International Limited

P0 Box 260 Weybridge• Surrey• KT13 OYH

 

DEBT COLLECTION SERVICES

 

Mr MUGGINS

 

TELEPHONE 0845 3136604

Pay now at ww ..fredpay..com

 

Business Hours

8am- 9pm Monday to Friday

L 8am- 4pm Saturday

Our Reference Account Date

Please quote on all

 

EGG/058xxxx correspondence 4627XXXX 13/07/09

Re Balance Egg Banking PLC £15300.00

 

Dear Mr Muggins

 

You have failed to make an acceptable repayment proposal on this account.

It is not in your interest to ignore this letter. THIS DEBT WILL NOT GO AWAY. Contact us now on the telephone number above with your proposals for settlement.

 

PAYMENT SHOULD BE MADE QUOTING OUR FULL REFERENCE NUMBER TO AVOID

DELAY IN THE ALLOCATION OF PAYMENT TO YOUR ACCOUNT. PAYMENT CAN BE

ACCEPTED BY MAESTRO, SWITCH, DELTA, CREDIT CARD IN SOME CASES OR BY

CHEQUE.

 

Alternatively you can pay by using the payment card below. To pay, detach the card from the letter and Maestro take it with your payment to any Post Office or Payzone location as shown below.

 

Yours Sincerely

FREDRICKSON INTERNATIONAL LTD.

Please press out card below

PAYMENT CARD

 

Pay now at wwwfredpaycom

Registered Office: 7/10, Chandos Street, London W1G 9DQ. Registration No: 2679522

CA R,oitritic,n Nn 1R

[James007Bond]

Originally Posted by James007Bond

NEWBIE DN & Partial Settlement Advice - Please Help!

 

Have 2 MBNA Cards in defult since Dec08. Was making late minimum payments Apr08 to Dec08. Received 2 Default Notices Jul09 and Partial Settlement letter dated couple days earlier. I need guidance PLEASE from you all on any/all of the questions below, preferably based on recent experience with MBNA:

 

Q1. Any truth in media ads suggesting all debts and charges on CCA before Apr 2007 can be written off? What's been your experience with MBNA? How long does this process take? My A&L Card dates back from 2003 (MUG).

 

Its not quite that simple. What are the reasons at present for holding off payment?

I have been out of work the longest time since Apr08, tying hard to keep on Utilities DCS (lots of interviews ... usual excuses 'over qualified', some short assigments but not much else).

 

Partial Settlement covers total of both card balances as at Jul07. These balances are way over Credit Limits because Highway Robbers have been slapping CRIMINAL interest each month since late 08, plus Late Default Sum and Over Limit Default Sum.

 

Can you post the default notices

Done, await comments / guidance

 

Partial Settlement offer equates to 30% to pay of these Inflated Balances. They will register remainder of Inflated Balances, ie. 70%, with CRA's. They say they "MBNA will not pursue the matter any further".

 

Short settlement means they will usually sell the ballance on to another agency. You are no better off unless it is a Full and Final settlement.

Thnx

 

Q2. What are my chances to get them to base partial settlement on Balances as at Dec08?

 

Q3. Am I likely to be able to negotiate a better offer?

 

Not that I can afford to pay the 30% within 60 days from my JSA! I trust my Friend (just one ... sad!) & Family will continue to support until I can start earning my own salary again.

 

Never borrow money to pay off unsecurred debts.

What about Gas, Elec, Water, BT (another RIP off merchant) overdues?

 

Q4. I think my balances have been "Charged Off" Jun08. What does that mean in terms of my ability to negotiate, e.g. winding the clock back to Dec08 balances?

 

They charge them off against Tax. Is your statement ballance now at zero.

No far from that as you can see from Partial Settlement Letter posted.

I am from the glass half full philisophy, so was looking their offer, trusting it could be to my advantage.

 

Q5. Any of you had luck getting through to 'Customer Assistance' on 01244 674515 (No. given on my Partial Settlement Letter)? My calls keep going to voicemail !!?? Do not call them ever. Only deal in writing.

 

No more phone calls (sorry BT, you'll have to drum up some more silly schemes to squeeze more money from Muggins)

 

The first action is for you to post your Default Notices.

 

Second would be to send off a CCA request.

 

I am using Template suggested by alisindebt to send off CCA Request to MBNA Virgin, MBNA A&L and Egg 2day.

[vint1954]

Ok, well they have complied on the default notices as regards to dates, if they were sent first class. If sent second class, they have not. Do you still have the envelopes and are they post marked.

 

Short settlement will still leave the ballance outstanding for others to buy and chase.

 

I sympathise with the redundancy situation. I am in the same boat.

 

Mortgage\Rent, Council Tax and utilities are your priorities, not forgetting food.

 

I will post up a CCA letter next.

[vint1954]

Send the letter below, first class recorded delivery, signed for. Print your name, do not sign it.

 

If nothing received by 4pm 12th August, you can send second letter.

 

MBNA Europe Bank Limited

P.O. Box 1004

Chester Business Park

Wrexham Road

Chester

CH4 9WW

 

xxxxxxxxx 2009.

 

Dear Sir/Madam

 

Re account no xxxxxxxxxxxxxxxxxxxxxx

 

With reference to the alleged debt to your company, this letter is a formal request of true copy of a signed and dated credit agreement for the above account number, under the terms and conditions of section 78(1) of the CCA act 1974. I enclose the statutory maximum fee of £1.00

 

I expect you to comply fully and properly with this request, within the statutory time limit of 12days + 2days from the date of this letter.

 

I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

 

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

 

I look forward to hearing from you.

 

Yours faithfully

[James007Bond]

Many many thanks Vint1954:-)