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three accounts with mbna and no idea what to do next


sunboy
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Hope you can help. I have 3 accounts with MBNA:

 

Loan

MBNA Card

Abbey Card

 

I have stopped DD on all of them and sent a token £1 payment on the loan and MBNA card as I have previously CCAd and they sent agreement. I sent the standard letter from National Debtline and asked them to freeze all interest and charges. I am in a bit of financial mess at the moment and MBNA have not helped as they keep jacking up the interest rate.

I have not sent any payment on the Abbey one as they can't find the agreement.

 

I have received the following letters:

 

Loan - default sum charge of £25 and another one to contact them about a reduced payment plan and another one from Aegis asking me to contact them urgently re arrears - all in the space of 3 days

 

MBNA card - cut up your card - account restricted and another one to contact them about a reduced payment plan

 

Abbey Card - "Thank you for your letter regarding our mutual customer's requests for their personal data and other information held by MBNA. We are not able to process rge request as no payment enclosed. PLease return your written request with cheque/PO" I cannot understand this as I CCAd them nearly a year ago with the £1 and they have written to me in the last week to say that they cannot find the agreement but the debt is still payable blah blah.

 

Any advice on what I should do next with MBNumptees would be most appreciated as it seems they just keep firing off any standard letter they can. thanks

Edited by sunboy
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Hi sunboy

 

This is a long game and you should read threads in the general debt forum for approaches folk take.

 

Much depends on your personal situation and your desired end-game; you need to deal with each alleged debt with that in mind.

 

Back to MBNA: this is based on my recent experience.

 

Hiking rates and applying £24 per month penalty charges is just their standard procedure to intimidate people.

 

On one account, they have frozen interest and charges for a token payment but only after I provided an I&E statement (but no documentation). And they reserve the right to revoke this at any time. An MBNA person told me that they would sell the debt on anyway if I didn't meet their minimum repayments. Clearly, they just try to bump the debt as high as possible before they sell it on. I personally don't believe there is a hope in hell of maintaining token payments with interest and charges frozen (but someone may have a different experience?).

 

I genuinely can't pay, and can't see that changing in the current economic climate, so I don't much care what they do - I will of course challenge charges etc along the way and prepare for the real battle with some grotty DCA.

 

I hope this helps, but please do take other advice.

 

best wishes

 

vic

 

PS There were 7 guests on earlier so be careful what you divulge.

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Hi I have a similar case with MBNA - An old Abbey credit card - They cannot fine the credit agreement and recently they send me a letter that they will not take any court action until they complied with my CCA request. Account is in dispute with them at the moment. May I ask when did you take out your Abbey card - Mine is back in 1998

 

best wishes

 

Boss

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Hi I have been making a small payment anyway although they keep on adding interest and charges. I think this month the account will be 6 months in arrears. I suspect I will received a default notice very soon and probably the account will be terminated and sold on. What would be the next step in dealing with DCA when this happens. Is it a matter of sending the MBNA letter to them which stated that they cannot take court action and then just ignored them. Are you at the stage yet?

 

Thanks Boss

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Hi Boss - not at that stage yet - I have only just stopped payment. I am interested to know why you made small monthly payment as from what i have read the debt is unenforcable and as you say they keep adding on interest and charges anyway!! I think is they pass to a DCA then there is not much that they can do - others may be able to advise better.

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Hi Sunboy - I have been making a small regular payment in the light that I might get a short settlement from them say 20% of the balance. But I think that might be very unlikely. As soon as they pass it on to a DCA then I will stop payment. I'm not too bother about my credit file, as soon as they registered a default and that's done for me - no credit for the next 6 years. But we see how this goes - My worries is if they come up with an agrrement at some stage before the 6 years up.

 

Thanks Boss

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