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MBNA Loan - The battle begins


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Hi all, a new battle now that I am in the late stages of my other battles with credit cards and felt I could take this on as I am struggling to keep up the payments on this loan, although I have managed up until now having been unable to work for the last 6 months. Although I am back to work my earnings are around half what they were before the 'crises' which directly affects me, the exchange rate is diabolical (I get paid in sterling but live in the eurozone) and I am way off track financially due to the time off work.

This will be interesting as this loan goes back a few years but I have added to it at least twice, the last time being in May 2007. (I know, I should not have been tempted, but too late now.)

The last balance given to me seemed too high and I am suspicious that PPI has been added on at some point which I have certainly never asked for.

Starting with a CCA request being sent today.

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Thanks for the response summerbreeze. I did as you say above but I seem to remeber having to sign something and send it back. Unfortunately I don't have a copy but with any luck they won't have one either!

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I sent a SAR for my two credit cards but did not ask for information on the loan account as I had not started on it at that stage. Do I need to pay £10 again or should they have included this info on the loan account anyway?

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I sent a SAR for my two credit cards but did not ask for information on the loan account as I had not started on it at that stage. Do I need to pay £10 again or should they have included this info on the loan account anyway?

 

Hmm I think they are supposed to send you all the info they have on you so should include all your accounts but MBNA are not good IMO at sending anything you didnt ask for and not good at sending the stuff you DID ask for !!

 

You could write and ask them for the loan info and point out you have already paid £10 and expected to get everything they have

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Hi Dotty50, I did eventually get a response for one of my CCA's but only got the second after a SAR. You might want to continue to wait if you have had nothing as this obviously means the account is disputed, but an SAR might work.

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  • 2 weeks later...

Phone calls have increased recently, although I always ignore them, I suspect because of the CCA request for this loan. Needless to say time is up and they have sent nothing yet. I will give this a bit longer before sending the in dispute letter and have not missed any payments yet. Concerned that BOS, which I have done nothing about yet, have upped my interest rate to 20.9% and that I might get my overdraft facility at the bank withdrawn as I know that credit files are checked regularly.

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Found out from this brilliant website that any creditor you have a loan with must send you an annual statement since new legisaltion came in to force on 1 October 2008. If your loan predates 1 October 2008 then you must receive a statement by 1 October 2009 or they are in default and cannot charge you interest for the year that they have not provided the statement for. Yet another potential angle to fight them on. They have a week to get this statement to me. Do they know?

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Had a copy of my loan agreement turn up today. I would scan it but technology has defeated this for now, scanner has packed up. It's dated May 2009 and looks as though I did it on-line, when I'm sure it was agreed on the phone! Anyone else had this situation?

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Having looked back through emails, I did apparently accept it on line. I will post it up when I can but looks like I may struggle with this one! Pity because I have grown to really hate the way MBNA operate over the last 6 months!

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I should point out again that this was a top-up to an existing loan which was also a top-up to an existing loan. I know, don't be harsh!

Should I have been sent copies of the two previous loan agreements as well or does the current one supersede all others?

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I have been checking the loan agreement sent to me and using a couple of APR calculators my agreement says 7.9% whereas I get 8.7% or 8.8% from the two APR calculators I have tried so far!

This is way off if correct. Has anyone got a reliable calculator they have used? I am missing something perhaps?

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Have found I am using the same calculators on websites as others have used on here. Is it really possible that MBNA could have been charging me nearly one per cent more than the agreement says?

Edited by exchange
typo
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