Mbna Cca Not Received Offered Settle

[yousef1973]

I Have A Mbna Credit Card, 2 Weeks Ago They Agreed Settlement 30%, Then When They Spoke To Their Supervisor, He Refused It.

They Told Me He Wont Take Less Than 35%.

Then When They Rang Me I Told Them I Cant Afford That, They Told Me To Borrow The Money, Anyway To Honour That Percentage I Must Make A Payment For £306 Today And We Will Then Send The Settlement Letter.without The £306 Paid Today Over The Phone,the Settlement Figure Will Be Removed.

So I Left It I Did Not Bother. Week Later I Rang Them, They Told Me They Would Call Me Back, But Never Did.

 

Anyway On 1 September I Sent Out An Officail Letter Requesting My Cca With £1 Postal Order. I Have Not Received The Agreement. But Got A Call Today. I Asked About My Contract, He Asks Why I Need It, People Only Ask For That When They Are Not Willing To Pay. I Asid Never Mind That, Send Me My Agreement And We Will Take It From Their. Anywaynow He Was Willing To Accept All Terms And Accept 30% And The Letter Will Be Sent To Me Next Week And Will State Debt Settled In Full.

 

What Should I Do, Shall Accept The 30% Settlement As The Debt Is £22000, Please Someone Advice

[Bazooka Boo]

What Should I Do, Shall Accept The 30% Settlement As The Debt Is £22000, Please Someone Advice

 

No chance!

 

Clearly they have agreed to the settlement figure because they either can't find or have an unenforceable CCA.

 

Stick to your guns, you have asked them to supply you with the CCA if after 12+2 days they have not supplied you with an enforceable CCA then you can legally withhold all or any payment, until such time that they do.

 

Do not speak to them over the phone unless you are able to record your phone conversations, his flippant remark that "only people who ask for a CCA are those that won't pay" is just the tip of the iceberg if you continue to allow them to speak to you over the phone.

Keep everything in writing only, that way then you will have a paper trail of evidence if needed.

 

When was the Card taken out??

Was it over the internet??

In store??

Through a leaflet/paper/magazine??

[yousef1973]

I Think It Was Taken Out In 1996 Probably A Magazine, Not Totally Sure. I Know For A Fact When I Was Speaking To Him, He Said His Manager Declined The Offer.i Said I Am Not Bothered I Want My Agreement, And He Stated That It Is Not Possible To Write Of Debt.

So I Replied Dont Be Silly My Friend I Have Checked Numerous Things And Spoken To Right People,,,debts Have Been Settled For A Small Amount Or Been Written Of. So I Want My Cca. Kept Sayin Why Do You Want That, So I Said I Will Tell You When I Get It And Stated You Have 12+2 Days. He Said They Got The Letter On The 9th, So I Says Stop Lying I Have Proof That Is Was Signed For On 2nd Sept.

 

So He Tells , Thats Not How It Works Days Start From When It Reaches The Right Department.

 

I Replied I Am Not Bothered You Have 14 Days.

 

So He Says What Do You Want To Do.

 

I Said I Offered You 30% You Declined Now I Have No Option.

 

So He Says Not To Worry I Will Get That Letter Out To You Next Week.

 

My Concern Now Is Should I Aim For A Lower Percentage Or Go For A Total Right Off?

 

What Do You Advice???

[Bazooka Boo]

Well as you rightly pointed out to him, they have 12 days to supply you with the CCA from the 2nd, so if they fail to respond by Tuesday then you should send them the 'Account in dispute' letter.

 

Also, having had another read of your post, has there been a period of 6 years where you haven't paid them anything, or even acknowledged to them in writing that you owe them money??

[yousef1973]

No I Have Always Paid Them. Its Only Since May 2009 I Stopped Making Payments Because I Lost My Job And House.

I Was Gonna Borrow Money From A Relative To Make Settlement

[Bazooka Boo]

Ok not to worry, I was thinking of the Statute Barred route, but won't matter as you have been a good lad and been paying them;)

 

Are there any charges that they have applied to the account?

I am quietly confident that as this account goes back 11 years then they won't have the relevant documentation, and certainly won't have it in order!

 

See if they comply with the CCA request, scan and post whatever they send you, removing all of your personal details, address, account number, bar codes, etc etc.

 

Once they go past the deadline then you can legally stop all payments to them, I have a hunch that they will fail to produce a legally enforceable CCA and you won't have to pay them another penny:-D

 

But lets not count our chickens before the eggs have hatched!

 

 

 

Boo;)

[yousef1973]

ok, thank you, will keep you updated

[Stephan56]

In my opinion 30% is too high to settle (I aim for 15% on the assumption that the DCAs bought the debt for 10% and 50% is a big enough profit for them).

 

That said, if you decide 30% is ok then ENSURE you do the following:

 

1. Ensure there is a document IN WRITING setting out the terms of the settlement - signed by them;
   
2. Get the settlement money paid by a THIRD PARTY (someone else writes the cheque or transfers the funds). Don't pay yourself;
   
3. Account must show a £0 balance after you have paid;
   
4. Account must be reported to CRA as PAID IN FULL or some other designation tha let's others know it was paid off TOTALLY;
   
5. Ideally, ANY reference to this account ever existing is removed from your credit file;
   
6. The debt/file is NOT sold or transferred to anyone else (often a DCA trick is to "settle" for X%, THEY agree not to chase you for the balance - and then they transfer the account to another DCA and THAT DCA then chases you.
   

I may have forgotten something, but you ned to be careful to ensure that by paying them it is the END of it. You have NO REASON to pay them IF they do not have a LEGALLY ENFORCEABLE AGREEMENT. The only reason to pay them is because you can improve/rehabilitate your credit record etc. Otherwise, why bother?

 

If you pay them 30% they will have made a profit of 2X their investment in the file. You have effecitvely given them a profit for harassing you!

 

Like you, I am (reluctantly) willing to settle if no CCA - but only if I get something in return

 

Good luck

[yousef1973]

Thanks for that. This account is still with mbna, and not with any debt agency.

 

He told me that the letter will be sent out to me stating the agreed amount, the rest written off and that the debt is satisfied in full and no other company chase you for it.

 

On the credit report it will state the partially settled and rest written off.

 

I have this feeling, when this letter comes its going to state that we agreed at 35%...too high.

 

obviously I will write back and state that is too high and no percentage agreed and only offering £5000 in full...they already know that amount will be paid by my uncle.

 

what do you think, obviously i will do what advice is given to me on these forums.

 

as for crefit report that is already ruined, defaults from all lenders etc.

 

thanks

[Stephan56]

It sounds like you are getting closer. I would ask to see a DRAFT of the actual letter before you send money. It is likely that they will tell you the letter wil say one thing, but it will actually say another. Once you have paid you have lost your bargaining power.

 

Also, if they have NO CCA and you are NOT INTERESTED in using this settlement opportunity to (at least partially) rehabilitate your credit rating, then, WHY are you proposing to settle with them??

 

How are YOU better off by settling than by not settling??

 

For me, the ONLY reason to settle is to try to get my credit report cleared up. If I did not want to do that,iwoudl not pay anyone.

 

Anyway, your call at the end of the day but thoght to raise the issue.

[Bazooka Boo]

Take a read of this also for some good advice:

The Law – ‘Full and final settlement’ - Voltimum UK - Electrical Installation Products and Contracting

[Stephan56]

I have read the Voltium case a few times before this. One thing that bothers me, is (I) account in dspute (ii) you send them a cheque in F&F (ii) you tell them it is F&F and (iv) they cash it. Don;t they have a way out in that, AFTER cashing the cheque, they WITHIN A REASNABLE PERIOD tell you the pament is NOT accepted in F&F.

 

Therefore, they have your money (ouch!) and you have no F&F.

 

I had been clear (by maybe wrong) that IF the money came from a third party, and the cheque is cashed, then THAT IS IT and they cannot EVER claim not in F&F.

 

Is this all a correct understanding?

[angel_1]

hiya im subbing with interest

 

hoping you get this settled soon

 

laters angel x

[Bazooka Boo]

My head is like a box of frogs today!

 

But as I understand it, when you give them a F&F offer, you should really get written confirmation from them that they will accept the F&F payment and will not take any further action.

 

If they fail to provide the evidence of a CCA, then you are in a much stronger position as you can put the account into dispute, and make them an offer of around 15% or less, reminding them that as they are unable to take any legally enforceable action they would be wise to accept the offer, or receive nothing!

 

 

Boo;)(the morning after the night before:()

[IdaInFife]

always always always ask tem to put the f anf f in writing before making payment

 

always make sure it will be marked on your CF settled in full and or any adverse data is removed and that they or no other company will seek for a payment towards the debt and that you are fully discharged from it,(if you need a template just sout)

 

you could send them a letter with these details offering full and final and await them confirming in writing back that tis will be accepeted

 

one thing is if they do not have a cca the debt is not wiped and it still exisits. this means that you are not obligied to make any payment twards ituntl they do produce a valid cca.

 

if you want to get rid and clear your CF them a f af f isthey way to go

 

ida (the night after the night before and the night before the morning after)

 

ida x

[Bazooka Boo]

As above! Cheers Ida XX

[yousef1973]

Still More Calls Gettng A Headache

Edited September 13, 2009 by yousef1973

[diddydicky]

In my opinion 30% is too high to settle (I aim for 15% on the assumption that the DCAs bought the debt for 10% and 50% is a big enough profit for them).

 

That said, if you decide 30% is ok then ENSURE you do the following:

 

1. Ensure there is a document IN WRITING setting out the terms of the settlement - signed by them;
   
2. Get the settlement money paid by a THIRD PARTY (someone else writes the cheque or transfers the funds). Don't pay yourself;
   
3. Account must show a £0 balance after you have paid;
   
4. Account must be reported to CRA as PAID IN FULL or some other designation tha let's others know it was paid off TOTALLY;
   
5. Ideally, ANY reference to this account ever existing is removed from your credit file;
   
6. The debt/file is NOT sold or transferred to anyone else (often a DCA trick is to "settle" for X%, THEY agree not to chase you for the balance - and then they transfer the account to another DCA and THAT DCA then chases you.
   

I may have forgotten something, but you ned to be careful to ensure that by paying them it is the END of it. You have NO REASON to pay them IF they do not have a LEGALLY ENFORCEABLE AGREEMENT. The only reason to pay them is because you can improve/rehabilitate your credit record etc. Otherwise, why bother?

 

If you pay them 30% they will have made a profit of 2X their investment in the file. You have effecitvely given them a profit for harassing you!

 

Like you, I am (reluctantly) willing to settle if no CCA - but only if I get something in return

 

Good luck

 

nothing wrong with this advice- however- full and final settlement means what it says and there is no court that would countenance the so called "trick" of passing the remainder of the debt on to a third party to claim against you

 

so long as the agreement says that the payment is in full and final settlement of all matters outstanding between you then this is sufficient

[yousef1973]

STILL NO SETTLEMENT LETTER OF CCA FROM MBNA

 

GOT ANOTHER LETTER FROM THEM TELLING ME AS FOLLOWS :

 

Dera Mr xxxx

Your credit card account is now seriously arrears and the time is running out.

Your outstanding credit card balance is now xxxx. You must call your allocated account manager on 01244 629946 before 9pm. Please beware that a default is due to be registered on your credit file shortly. Should we seek a County court Judgment against you, this may result in the following actions

 

attachement of earnings

charging order

 

We could still help with your debt, by a reduced payment programme.

Alternatively I may still allow you to make a significantly reduced settlement of your balance.

 

We can only help if you respond to this letter toady before 9pm.

 

Yours sincerely.

 

THEY HAVE STILL NOT SENT CCA.16 DAYS HAVE PASSED.

 

DOES THIS LETTER REQUIRE ANY ACTION ?????

[diddydicky]

no- unless you want to ssettle as it is clear they do !

[diddydicky]

I have read the Voltium case a few times before this. One thing that bothers me, is (I) account in dspute (ii) you send them a cheque in F&F (ii) you tell them it is F&F and (iv) they cash it. Don;t they have a way out in that, AFTER cashing the cheque, they WITHIN A REASNABLE PERIOD tell you the pament is NOT accepted in F&F.

 

Therefore, they have your money (ouch!) and you have no F&F.

 

I had been clear (by maybe wrong) that IF the money came from a third party, and the cheque is cashed, then THAT IS IT and they cannot EVER claim not in F&F.

 

Is this all a correct understanding?

 

no, you cannot force a settlement on anyone

 

sending someone a part payment of what they claim you owe will simply result in them seizing the payment on account

 

you do not complete a full and final settlement UNTIL you have their written acceptance of your terms of settlement

[yousef1973]

What Should I Do, Just Ignore The Letters And Phone Calls, What Should I Be Aiming For In This Situation???

[Bazooka Boo]

Send them the account in dispute letter:http://www.consumeractiongroup.co.uk/resources/templates-library/86-debt-collectors/571-failiure-to-provide-a-copy-of-the-agreement-within-the-prescribed-timescale

They are out of time, and this may focus their efforts on actually producing a valid CCA or entering into a F&F discussion.

 

Once they have received this letter they are unable to proceed with any collection activity and this includes trashing your credit file, fire it off pronto if you haven't done so already, remember, print your name don't sign and send it recorded!

 

 

Boo:wink:

[vint1954]

deleted.

[yousef1973]

one call yesterday, another call today. they want to settle the debt for 35%.

i wold him that is too high offer me lower.

 

he states his manager wont budge, below 35%. They would get more from a debt agency.

 

so i said i cant offer that amount as it is too high.

 

still no contract copy, he said that is requested and will be in post very soon.

 

as this account is now in dispute.