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Credit Card Debt Help Please?


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Hello everybody :) I'm Larry, I'm a long time reader of CAG but haven't posted in a while.

 

I'd like to start by saying a belated thank you to CAG and it's members for posts relating to NCP fees that I used, to full effect, a couple of years back with great success!

 

My problem is credit cards; I've been a student for 5 years and worked up a lot of CC debt, I've paid off some but struggled with three others, namely Egg, Santander and Virgin/MBNA. They've all fallen into arrears and I have a hefty backlog of threatening letters.

 

The update is that I've been writing to all companies using the national debtline template letters. In March of this year I wrote to all three offering a full and final settlement figure (which was an offer of 10%), Santander refused, egg's legal representatives refused on their behalf, so I wrote back to both, (again with a template letter) offering a pro-rata regular payment with a request to freeze the interest and fees. I am now currently waiting to hear back from both.

 

Now, the thing that I'm worried about and would like some help/support/advice with is Virgin/MBNA. They sent me a Default Notice Served under Section 87(1) of the consumer Credit Act 1974. Which I didn't read in time to respond to by their given deadline, then I received a yellow slip from AIC. I immediately fired off the full and final settlement offer template to both parties (MBNA & AIC), which neither of them have responded to. I sent my letter on 19 March 2011.

 

What are they doing? What is happening? What should I do?

 

Many, many thanks in advance for your comments.

 

Larry

Edited by larry650
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