Ready to make a F&F - advice please!

[landy_alert]

Hi everyone:)

 

Right - despite already having an ongoing thread in the MBNA forum, I am starting a new one here as it is now my intention to offer a F&F on this (and hopefully other) account(s). As I am very much hoping for some advice and guidance on this please, I believe I will be in the best place here!

 

History -

 

This MBNA credit card account was last used 4 years ago.

 

The last payment was made to it around 2 years ago.

 

Last year I reclaimed both charges and mis-sold PPI plus interest on this account (although on the PPI they only refunded 'associated interest')

 

I have attached the CCA and DN.

 

The two pages of the CCA arrived back-to-back on one sheet, yet don't seem connected.

 

The DN (for which I'm afraid I didn't keep the envelope as it was in my early days on Cag, although I did note the date it was received) appears to fall short by 3 days assuming it came second class (which I believe it did)

 

According to the SAR, the account was 'charged-off' and sold to a DCA 5 days before the remedy date on the DN - unlawful rescission?

 

The new owner of the account was last heard from a year ago at which point they agreed to place the account on hold pending the resolution of the mis-sold PPI investigation - which is now complete.

 

Based upon the above facts I am looking to go in with as low a F&F offer as possible - the arrears on the DN were around a sixth of the total outstanding balance and this is really the maximum I would be hoping to pay.

 

I don't wish to go in with my maximum offer only to be then unable to have room to negotiate, so don't really know at what point to start negotiations.......

 

Obviously I have done lots of reading regarding F&Fs and have copious notes on the subject - it's just a case of deciding where to begin and what I can realistically hope to achieve

 

Any advice or pointers would be hugely appreciated!

 

Many thanks,

 

Landy x

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[The Mould]

OK landy alert

 

What about a Notice of Assignment? Does the DCA hold legal title or is he an equitable assignee?

 

If the Default Notice is invalid and the OC has terminated the contract with you, then that is a fundamental breach of contract and you are entitled in law to treat your obligations as discharged.

 

Have you made any payments to this account since the Default Notice and then the selling of the debt?

 

Kind Regards

 

The Mould

[landy_alert]

OK landy alert

 

What about a Notice of Assignment? Does the DCA hold legal title or is he an equitable assignee?

 

If the Default Notice is invalid and the OC has terminated the contract with you, then that is a fundamental breach of contract and you are entitled in law to treat your obligations as discharged.

 

Have you made any payments to this account since the Default Notice and then the selling of the debt?

 

Kind Regards

 

The Mould

 

Hi Mould:)

 

Many thanks for dropping by - your opinion is most appreciated!

 

Yes, I have the NOA which arrived in the same envelope as the 'welcome' letter from the new owner. The NOA clearly states that the DCA has purchased the account with 'all rights, interest and claims in respect of all amounts outstanding on this account'.

 

The NOA says the account was sold to the DCA on the 18th but became active with them on the 25th. The DN remedy date was the 23rd of that month...........these are the actual dates, but I don't want to be too specific month-wise for fear of identifying myself to the DCA's spies

 

I'm still not certain therefore if this counts as unlawful rescission of contract or not?

 

Additionally I don't believe the DN allowed enough time to rectify the breach, but as I don't have the envelope I'm not sure if this can be proved?

 

The last time I made a payment was approximately 2 months before the DN was issued and therefore no payments have been made since the account was sold.

 

Any further guidance you can offer would be wonderful!

 

Thanks again,

 

Landy x

[The Mould]

Hello guests

 

Care to join in?

 

landy alert I shall catch up with you shortly.

 

Kind Regards

 

The Mould

[landy_alert]

Thanks Mould

 

Waves to guests

[landy_alert]

Hi everyone:)

 

Just wondering if anyone can offer any advice on how I should approach making a F&F on this one please based upon the info in my earlier posts?

 

I'm still not 100% certain whether what MBNA did in selling the account on the 18th when the remedy date on the DN was the 23rd, counts as unlawful rescission when the NOA says that although sold on the 18th, the account didn't become active with the new owner till the 25th

 

I really could do with an expert's opinion on this one please!

 

In the meantime I have started to prepare a letter offering a F&F settlement, but don't want to drop myself in it by referring to unlawful rescission if this is wrong..............

 

Many thanks in advance,

 

Landy x