MBNA CCA and FF&S

[Al1971]

Hi All

 

Would really appreciate MBNA advice.

 

I have been made redundant and over the last few months I have been negotiating with MBNA for a full and final settlement. The balance is £4500, I am 3 months in arrears but no defaults so far.

 

Thay offerred £1300 as a "part Settlement" and said in writing that the account would be closed and that they would not come after the rest. Obviously, I would like to negotiate a full and final settlement.

 

I CCA'd MBNA and received this on a double sided photocopy:

 

Firstly, is this enforceable and if so how can I use it to pressure MBNA into accepting a FF&S

 

How bad is a Partial Settlement on my credit file? Don't want credit but need to change mortgae in 2011 (with Northern Rock until then)

 

Any help would be great

 

Al

 

 

[vint1954]

Hi,

 

Have you had a look here http://www.consumeractiongroup.co.uk/forum/mbna/199752-mbna-application-agreements-now.html

 

A partial or short settlement is not what it seems. Once you have paid it, they will sell the ballance on and the collection process will start over again, with a DCA. You need to insist that any settlement is Full and Final.

 

This will be marked on your credit file and will cause problems.

[Al1971]

Thanks Vint1954

 

Yeah I had a look in the library and was a little confused. There is an identical "credit agreement" :

 

2003

 

Enforceablility : There is an issue of legibility so very likely not

However, would be enforceable if a legible document were to be produced because - There is a signature on Page 1 and Prescribed terms on Page 2

 

Comments: No link between the two pages. Reference to condition 11 on front, but not on back. No default charges detailed as in Note 1:

 

 

 

 

 

 

Think MBNA are trying to suggest that both of these items were both sides of the same document. I can't remember from 2003 but I doubt whether it is an enforceable cca.

 

So far MBNA say they won't do a FF&S for less than 90% and you have confirmed my fears about a partial settlement.

[vint1954]

Yes, I think that legiblity is the problem and I do not suppose that they can come up with this as a document.

[Al1971]

Cheers Vint