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Trick or treat with experto credite


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Hi I have used the forum in the past and finally with some good advice and guidance from thoughtfull other caggers, im getting out of debt.

To cut a long story short, I owe MBNA £2600, due to my situation i couldnt pay so they put me in a hardship queue. Well they sold the debt to Experto Credite without telling them about my financial circumstances. I enlightened Experto as i have all the records and correspondence with MBNA and they have accepted £20 a month.

I recieved a letter this week from Experto offering me a one time only offer which has to be paid by the 29th of October, in which they will take 40% off the outstanding bill and i pay the remaining 60% by the end of October. This will settle the account.

Having spoke to family i was able to raise £1200, which Experto Refused as they cant change the offer (hahaha) and that i could pay the £1200 and pay of the rest monthly, which would still settle my account.

Something isnt feeling right though. If i pay them the £1200 i will then be paying my family member back and experto credite which puts me in more debt as i will have 2 outgoings.

On speaking to them they have been polite so far, but im sure they are giving me made up names, i have spoken to 3 guys Dieago, Gianni and Hose, their office is in london and i know that it doesnt mean nothing but when i call them there is always laughing and shouting in the background and sounds a bit like a party. They never have my right details and never reply in writing.

They use the ususall tactics like "oh im sure your family would want to help you be debt free" and make out like this is some fantastic favour they are doing me. But at the end of the day i pay them £20 a month for what will be around the next 6 years, i cant pay anymore so im not overly bothered. I just wondered if anyone had any thoughts on this situation and my next step?

Thanx loads


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Ibis....Hi,,,,,,,,,,,,,does the letter from Experto state that Varde Investments Ireland have purchased the debt and they Experto are acting on behalf of Varde.............with MBNA involved this is the normal route they take???????????????????????Remember whoever purchased the debt paid peanuts for the debt,continue to pay the £20 a month as agreed with MBNA Experto offer is rubbish...........Did you receive a NOA from MBNA and also from Experto?????????????????If Varde are involved I will give you a reply letter to Experto..............FS

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Hi Thanx for the reply. No Experto wrote directly and the one and only correspondence have just their details. They have a Berkshire contact address. I havent got anything in writing from MBNA i was contacted by phone by experto who told me they had purchased the debt. I made the £20 a month agreement, yet have nothing in writing from Experto except this offer. Im just confused as to why they are offering me a discount, i can only assume that they think im an idiot and that they want their money and know they will have a long wait.

Having looked them up on the net, i can see they are bullys and am waiting for the nastyness to start.

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simples, send them a cca request in the first instance, I take it this is a credit card? if they have bought the debt then mbna should have snet you a letter notifying you.


see what they come back with




Getting There Slowly



Advice is given freely but is in no way meant to be taken as Gospel:-)

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Ibis..........contact by telephone stating they have purchased a debt is not on,it needs to be in writing called a Notice of Assignment, MBNA should have sent a letter confirming the sale and Experto should have sent one.How do you know Experto have purchased the debt?????Please write to them send a CCA request as PGH7447 indicates and add a paragraph"I will only deal with this matter in future in writing"then at least you will have a record of what is going on.......They are offering a discount on full settlement because they paid MBNA below 25% of the total value of the debt,we are all very much aware of this totally unfair market in the sale of debts.Get the CCA letter + extra paragraph underway...................FS

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Thanx Guys, much appreciated and am getting on it right away. I knew they were up to something!!! LOL round two begins. xxx

thanx again xxx

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Request the CCA and if you dont get a reply within 12 +2 days, put the account into dispute (there is a letter here), and stop paying them anything.

You may find that MBNA send you a letter saying that they cant find the original agreement and will not pursue any court action until they can find it. This has recently happened to me with more than one MBNA account, and have noticed that its happened to others on this forum.

You may then wish to think about a very low Full and Final offer to them, or ignore them for 6 years if you dont mind the phone calls and begging letters (which I dont).

Of course, your credit file will be trashed for that time, so you have to decide if this is a problem too (again, I dont care, as I never want credit again)



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  • 8 months later...


Welcome to The Consumer Action Group.



I am just letting you know that as you haven't had any replies to your post yet, it might be better if you post your message again in an appropriate sub-forum. You will get lots of help there.


Also take some time to read around the forum and get used to the layout. It is a big forum and takes a lot of getting used to.



Once you start to find your way, you will soon realise that it is fairly easy to get round and to get the help you need.


It can be bit confusing at first.

Please be advised that my time will be limited for the next few weeks.Thanks for your understanding.

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