MBNA Debt.

[Undercover-Elsa]

Hi Davidoff,

Welcome to CAG

As Maroondevo says, you're making the right choices, the main thing is to stick to your guns-you'll be feeling nervous about it at the moment but will gain confidence as you go along, with the help from CAG. We were all where you are at the beginning. Read as much as you can on here about others in similar situations.

Are you still paying MBNA the standard minimum monthly payment, is it a pre April 2007 account and have you requested a CCA from them?

Main thing is to get them all to prove that you owe them anything, and if so that the amount you owe is correct ie not including unfair charges.

Establish whether they have valid agreements first-if they have-do a Subject Access Request and claim back the charges. Then you can get them off your back for the remainder by putting the debt with a fee free debt management company such as Payplan or CCCS.

If they haven't-keep us posted and we'll help you deal with it.

Also- Have you received default notices for any of these accounts?

Well done for making a start!

All the best,

Elsa x

[Undercover-Elsa]

Hi Davidoff,

Unfortunately it's a different ball game for agreements made after April 2007, when the rules changed. Theoretically a court can order payment even without sight of the CCA, but can also vary the terms in your favour if it feels they are unfair etc. Very complex subject.

Are there any unfair charges on this account? Payment Protection Insurance?

How much are you paying them, if anything, at the moment?

Have they sent a Default Notice?

Regards,

Elsa x

[Undercover-Elsa]

Hi Davidoff

Re the MBNA credit card account- there's lots around on CAG about it but for convenience check out this very inclusive guide with template letters:

Reclaim Credit Card Charges: Full guide to get £100s back...

 

If you have had fees slapped on for late payments, going over the limit etc a significant proportion of these can be reclaimed, with interest. Sometimes the bank will haggle but ultimately pay up after a few choice letters,, sometimes you have to force their hand by complaining to the Financial Ombudsman or making a Claim through the Small Claims Courts.

As it's a post 2007 agreement therefore probably enforceable, this would be a good way to go, to reduce the debt. This is a valid dispute which should cause them to hold off till it's resolved.

They will tend to treat your problem as "short term" whilever you are paying them anything. Once you withhold payment they will reclassify you as long term and hopefully then you may be able to negotiate more strongly. Best advice I can give on this one is reduce it as much as you can by claiming back charges, then negotiate for reduced payments and frozen interest, if necessary through Payplan or CCCS, the free Debt Management Companies.

Another possible route is if they have sent, or send you a faulty default notice. Always save these with envelopes. Let us know if you get one and we'll check it for validity.

 

I'll catch you later when you've had chance to read up on it.

Thanks for the nudge

Elsa xx

[Undercover-Elsa]

Hi Davidoff,

I see you were burning the midnight oil!

To post up on here, scan the document and blank out any personal info that can identify you, including amounts, any barcodes or reference numbers, but not dates.

Go to "tinypic.com" and follow instructions to upload image, then copy the code it gives you for displaying on a forum or blog.

Start a reply post, and paste in the code. Any problems, just shout.

 

Some of the terms of the agreement do seem odd, but post April 2007 agreements come under revised rules so are usually enforceable as mentioned, although it's up to the judge who can vary anything he thinks is unfair.

It's new ground, but you could start by researching the Consumer Protection from Unfair Trading Regulations 2008 to see if anything applies.

 

For more info on the importance of Default Notices, start here.

 

Elsa xx