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old MBNA debt that is now 4 times the amount


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Hi

We had an MBNA credit card back in the late 90's, credit limit was £4000 which we paid in full each month,

 

hubby was in a fire in 2000 and i had to give up work to look after him,

 

our income was minimal and was making 100 mile round round trips 3/4 times a week to hospital and we maxed the credit card,

then we defaulted,

 

about a year later we were contacted by dca and set up a direct debit, which we have been paying ever since.

 

Our payments have risen every year or 2.

 

The dca keep sending letters offering us large discounts

 

they say we owe £16,000 and have made us full setlement offer discounts of between 75-95% every few months,

 

the best offer we had was pay £2000 and the debt willl be wiped.

 

I have just cancelled the dd and want to put the amount in dispute.

What hope do we have or resolving this,

as we have been paying for 11 years and our debt just grows.

 

I am putting in SRA to MBNA

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you've been cash cowed

 

any DCA offering a discount know 1 of 2 things

eitherway they'll go nowhere near a court.

 

either the debt is statute barrd or written off by the OC years ago

or

its all penalty charges or PPI.

 

you've done the right thing by stopping payments.

 

no DCA has ANY LEGAL POWERS

do NOT converse with them on the phone

 

check your CRA file see my sig

to see if this debt shows

 

dx

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.

 

DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.

 

 

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DC100x when you say written off by the OC, what does that mean? And why does that influence whether a DCA would take a case to court or not ?

 

Just asking because I have 2 accounts I've put in dispute and relevant DCA's have offered several discounts , but they've not quite reached the SB stage.

 

thanks

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as in post 2

OC's will write off debts against tax, then sell it on

it will prob be

paperwork issues

or the debts are mostly reclaimable penalty charges or PPI

they will go nowhere near a cout for fear of a counter claim

so they sell it on

then up come the spoofing dca's

to try and fleece you.

 

ithink you will find the discounted ones HAVE reached SB date.

 

you need to check your CRA file

 

see my sig

 

dx

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.

 

DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.

 

 

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thanks for the quick response, it is definatly not on my/or his credit file.

would MBNA still have the records for this debt?

 

What sort of letter should I be sending to the DCA??

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Very weary..

 

When an original creditors wants to tidy up their books (get shot of debts) they can assign/sell to a Debt purchaser - DCA.

 

The OC will then "write off" the debt for tax purposes and the debt then is added to the DCAs balance sheets.

 

A lot of debts that have been sold on (especially those entered into before 2007) have disputes of one kind or another and the OCs seem to be shifting them by the truck load.

 

Where a DCA is advised that there is a dispute they usually start to offer discounts or rack up the threats in order to retrieve some money.

 

If you would like to start your own thread.. :)

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Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

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3: Banking Conduct of Business Regulations - The Hidden Rules

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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thanks for the quick response, it is definatly not on my/or his credit file. would MBNA still have the records for this debt? What sort of letter should I be sending to the DCA??

 

MBNA produced an application form but no t&cs for an alleged agreement of mine from late 90's

4 years after they sold it outright to a DCA.

 

But if they sold your account 9 or 10 years ago they might have lost it by now.

Do you know if your agreement was totally sold or just assigned to the DCA for collection.

Did you get a default notice or account termintation letter from MBNA?

 

Normally a SAR would go to the original creditor MBNA,

but if they sold it outright 10 years ago not sure what you'd get from MBNA.

DX or Citizen can advise better on this.

 

Are you able to say who the DCA is.

Link by any chance?

I'd send the DCA a CCA request .

 

If they can't supply it within 14 days or so you can write and put the account in dispute and stop payments .

 

There's a letter in the templates library.

Send it by recorded delivery and keep your proof of posting receipt.

 

Has the DCA been sending you a minimum of annual statements,

showing all this interest being added. ?

 

AFAIK DCA's can't legally add interest onto accounts they've bought unless the original terms of the agreement allowed it, and most taken out back then didn't.

 

I agree there's no point in making reduced payments to a defalulted debt account if interest is being added.

It's totally outrageous, and just highlights the despicable greed of this grubby industry.

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what is a CCA request (havn't come across that one and can't find a template

we are paying AKTIV KAPITAL and i can't remember ever getting anything to say if the debt was sold on or anything but we did sell our house and move on so maybe something was sent to our old address

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thanks for the quick response, it is definatly not on my/or his credit file. would MBNA still have the records for this debt? What sort of letter should I be sending to the DCA??

 

 

if the debt is not on your cra the

letter you should be sending is

where has my money gone?

 

you've been cash-cowed into paying a debt that did not exist!!

 

dx

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.

 

DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.

 

 

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i was under the impression that it gets removed from your credit file 6 years after the date that you defaulted, so should it not have dissapeared years ago?

when you have an agreement in place do you just not pay when it's gone from your credit file?

forgive my ignorance

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you said this debt is not on your cra file so why the question?

 

dx

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.

 

DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.

 

 

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why are you doing the cca?

 

you need to demand your money back

 

dx

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.

 

DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.

 

 

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no not as such

 

can i suggst something

 

you have the old card number

 

ring up mbna in the morning

ask when the last payment was made.

 

else sar them

but i fear the records were disposed of years ago.

 

dx

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.

 

DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.

 

 

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I have already sent the SAR and am not even sure of the account number,

I sent the CCA aswell,

 

if they do have any details surely the original account number would be one of the things,

getting back what we have paid out would be a big bonus,

but not having to pay every month is the bigger bonus if that makes sense

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can anyone help me with a letter to acktiv kapita in the hope i can maybe get some money back from them?

 

the more i've read the angrier i have become about paying these con artists?

 

from reading other posts and google search of the issue where they knowingly buy these debts that are statue barred and fleecing people,

 

i'm so angry but am rubbish at wording letters

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no rush get your ducks inline first

 

so there is NO indication on ANY of the AK paperwork ever

16 digit number?

 

dx

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.

 

DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.

 

 

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i don't usually keep them,

for the past 4/5 years every time they write they are always offering us to settle at a big discount or upping our monthly payment,

i usually just shred them but i think there is only ever their own reference number on them

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now you tell us of the discount letters!!!!!

 

that another VERY good sign its either

sb'ed

mostly charges/ppi

or

has paperwork issues.

 

ANY DEBT tat anyone sends a discount letter on

means they'll never ever go to court

its a begging letter before you find you are being cash-cowed.

 

dx

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.

 

DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.

 

 

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I did mention they keep sending letters with huge discounts in my first post (thats partly why i became suspicious),

 

for some time we were paying Thames Credit and then it got transfered to Aktivia Kapita,

we didnt have to sign anything to change and we didn't change the direct debit they did it all,

i had presumed it was just changing the name but looking more on these forums they are 2 seperate companies

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Had a letter today from Aktiv Katpital :- will type what it says as it will be quicker

 

Dear **

We refer to your request for documentation/further information regarding your agreement with MBNA Europe Bank Ltd under sections 77 to 79 consumer credit act.

 

Although we purchased the right to recover the outstanding balance due under the agreement,

as we are not the original creditor we do not hold the original documentation in this matter.

 

In order to obtain this, we will contact the original creditor,

as we do wish to provide the information that you require,

in acordance with the consumer credit act 1974, in an effort to resolve this matter.

 

Whilst we endeavour to obtain documents within the prescribed time scales,

due to the fact that we have to try to obtain documents from the original creditor we may be unable to do so,

your acount is on hold and has been removed from the collection process whilst we await the requested information.

 

yours sincereley

customer services department

 

 

 

what do you think to that??

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It is what they are bound to do by the OFT regulations.

 

You have asked for information that they do not have

- they have to assume there could be a problem and therefore are obliged not to pursue until the information has been obtained and any doubt removed.

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I did mention they keep sending letters with huge discounts in my first post (thats partly why i became suspicious), for some time we was paying Thames Credit and then it got transfered to Aktivia Kapita, we didnt have to sign anything to change and we didn't change the direct debit they did it all, i had presumed it was just changing the name but looking more on these forums they are 2 seperate companies

 

blimey thames credit

that lot

was well renound as spoofers

sadly they got mefor loads before i found cag

 

and i did respond to the discount letter too with you.

 

ok lets see

 

dx

please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s -  would collapse overnight.

 

DCA's view debtors as suckers, marks and mugs - that's why they will never tell you they are not bailiffs and have absolutely zero legal powers on any debt.

 

 

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