MBNA and sale of debt

[wantinghelp]

Dear all,I have received a letter today from MBNA telling me they have sold my credit card debt to MFS Portfolio ltd,

 

this debt has a CCJ and a charge on my house in place and I have an agreement in place with Restons to pay £50 a month,

 

this a standing order and has never been missed.

 

Please advise me on what to expect next and what I should do as there is no phone number to contact MBNA,

and when I searched the person I spoke to said nobody could help me till Monday.

 

Thank you.

[lookinforinfo]

I assume that the £50 per month payment was the agreement you made in Court when the Charge was put on your House?

If so there is nothing MFS can do to alter that, as it is the subject of a Court Order if that is one of your worries.

 

MFS will write to you soon and when they do, you can immediately hit them with a CCA request to let them know that you know they cannot push you around.

 

Also send an SAR to MBNA and see how much in unlawful charges you can claim back from them if you have not already done so.

 

Do not deal with any of theses people on the phone.

 

They will lie and confuse and worry you by saying things that they would not dare do in a letter.

 

And keep all their correspondence with a view to using it against them at a later date.

 

When MFS do write [if they phone, insist you will only deal with them in writing and do not answer their security questions] and there is something that worries you,

just let us know and you will be advised how to proceed.

[citizenB]

http://www.consumeractiongroup.co.uk/forum/content.php?840-Stop-your-bank-or-lender-breaching-their-instalment-agreement

 

Have a read of the link above.

 

If you have an agreement in place and made by way of a court order or indeed if it was an agreement reached outside of court then MFS will not be able to change the terms of that agreement without proceeding to court again.

 

HTH

[wantinghelp]

thank you lookinforinfo

 

,It was an agreement made with restons after the charge was made.

 

What happens to the charging order?

 

Do MFS now own that too?

 

Whats the point of cca, the debt is mine and am paying it.

 

Will try SAR but sure I had PPI or the like,

 

I work fot the NHS they pay when you are sick, not that i am.

[citizenB]

I would suggest that you write to MBNA (Head Office) and copy to Restons.

 

You want confirmation that in making a decision to sell your account on - have the advised the new owner of the debt that an agreement is in place between you and MBNA?

 

Most debts are sold on with the bare information eg - name - account details - balance outstanding.

 

The new owner is unlikely to know that this has been to court and what happened next.

 

So it is up to you to tell MFS if they make contact and try to imply that they have the right to add to the debt - unless the court order specifically allowed for that, then the only rights they have are to

 

a) continue with the arrangement made, legally

b) return to court to ask the court to change the terms of the arrangement

 

As long as you have adhered to the arrangement made between you and MBNA , then all should be well.

[wantinghelp]

Thank you very much citizenB, that was very helpful and also quite reassuring. I will send MBNA and Restons a letter as you have suggested.

[wantinghelp]

Also as I recall, the court order was full amount with no allowance for added interest.

[citizenB]

Also as I recall, the court order was full amount with no allowance for added interest.

 

Excellent

 

Let us know how you get on. If /when you recieve any communication from the new owner - let us know.

 

If they attempt to make contact by telephone. You must simply advise that under no circumstances will you discuss your financial position on the phone - they must, as is your legal right, communicate to you in writing.

[dx100uk]

how was 'the agreement' to pay restons arrived at?

 

if they did not take you to court

 

what are you doing paying them?

 

only A JUDGE can deem how much & when you should pay & to whom

 

dx

[lookinforinfo]

Wanting Help-the point of asking MFS for a CCA is to confirm that they hold your original agreement from MBNA. If not then the question arises if they have the right to demand payment from you.

 

The SAR is to see if MBNA levied unlawful charges during the course of your business dealings with them.If they did and I would be surprised if they didn't, these charges are reclaimable. I am

unsure whether you had PPI or not.If you did and you already were well covered by the NHS then you could have claim since the PPI would be considered to have been missold in your case.

[DonkeyB]

Wanting Help-the point of asking MFS for a CCA is to confirm that they hold your original agreement from MBNA. If not then the question arises if they have the right to demand payment from you.

 

Nonsense, I’m afraid. A CCA request is a waste of time. Any Consumer Credit Agreement has been superseded by the judgment.

[DonkeyB]

Puzzled as to why MBNA sell an account with a CCJ that is paying £50 a month.

 

Chances are the new owner doesn’t know there’s a CCJ, and MBNA forgot.

 

The new owner, if they want payment, must apply to the court to be replaced as the claimant. Bet they haven’t done that. Call the court and ask.

[lookinforinfo]

Nonsense, I’m afraid. A CCA request is a waste of time. Any Consumer Credit Agreement has been superseded by the judgment.

 

I don't think it is nonsense. I was aware of the C/O when I suggested the CCA. If they cannot produce the original agreement it may call into question whether the CCJ should

have been applied in the first place. In addition, it is a shot across the bows of MFS that if they attempt to increase the loan or call in the Charging Order, they will have a fight on their hands.

[DonkeyB]

You're right, it isn't nonsense. In fact, it's bollix. If that's the case, a set aside is the correct route.

 

Please don't raise false hopes for the OP.

[citizenB]

I'm not sure if the new owner can also apply to be replaced as the beneficiary of the CO. That's one for Andy.

 

Have alerted andy to that question

[dx100uk]

i know this sounds strange...

 

but you have CHECKED there IS a charging order ?

 

that letter in post 29 reads they 'hope' they'll get one?

 

dx

[citizenB]

Worried sick 18 -

 

as Wantinghelp's situation may end up being different from yours, it is better that you start a new thread.

That's not to say that you shouldn't check this thread out regularly

but there is a danger that you could hijack this thread.

 

Also having two different threads may attract different memberes wishing to help

and thus you will get extra ideas perhaps on how to handle your situation.

 

Wantinghelp,

 

I assume that the £50 per month payment was the agreement you made in Court when the Charge was put on your House?

If so there is nothing MFS can do to alter that, as it is the subject of a Court Order if that is one of your worries.

 

MFS will write to you soon and when they do, you can immediately hit them with a CCA request to let them know that you know they cannot push you around.

 

Also send an SAR to MBNA and see how much in unlawful charges you can claim back from them if you have not already done so.

 

Do not deal with any of theses people on the phone.

 

They will lie and confuse and worry you by saying things that they would not dare do in a letter.

 

And keep all their correspondence with a view to using it against them at a later date.

 

When MFS do write [if they phone, insist you will only deal with them in writing and do not answer their security questions] and there is something that worries you,

just let us know and you will be advised how to proceed.

 

 

Once a judgment order has been made - that replaces the original agreement and there will be absolutely no point in requesting a copy. However, strangely enough the OP had already been provided with a copy prior to the court hearing.

 

It is correct that the OP should keep all communication to writing.

[wantinghelp]

As the OP there is definitely a charging order in place, I have the paperwork from the Land Registry confirming it.With regards to MBNA leaving the UK market, what happens to those of us with debts with them?

[DonkeyB]

I imagine the portfolio will be totally sold off. Which is what appears to be happening.

[wantinghelp]

And what exactly should we be doing?

[DonkeyB]

Keep paying as per agreement. You don't deny the debt or judgment, so keep up the payments. Send money to MBNA as that is the only agreement you have. It's up to the new lot to get themselves replaced as claimant.

 

If Marlin start sending nasty letters without doing things properly (such as honouring the agreement), then it's time for war. You have done nothing wrong and they can't change the rules now without asking for your cooperation (or going back to court, which would make them look silly).

 

Not sure if estoppel would apply if they broke the agreement, but worth investigating.

 

So, in my view, keep paying MBNA (which even they have suggested) and come back to us when you hear from Marlin. Will be interesting.

[DonkeyB]

Moreover, if they behave in a way which indicates they have no knowledge of the judgment, this could be turned against them with a bit of smart footwork.... Let's see what develops. Debt buyers and DCAs are not renowned for their intelligence or honesty (hence the existence of CAG).

[DonkeyB]

This is why we mentioned earlier their strange use of the phrase 'credit card account'. There are no accounts or agreements, just a judgment and repayment schedule. So there may be confusion looming.

[DonkeyB]

Wantinghelp, was your letter the same as Americanmuscle's?

[Old Cogger]

As the OP there is definitely a charging order in place, I have the paperwork from the Land Registry confirming it.With regards to MBNA leaving the UK market, what happens to those of us with debts with them?

 

 

 

Debt will be sold for the highest bidder (fodder) no doubt, which seems to be happeneing from what peeps say receiving letters fron different fodder, GOOD RIDDENCE MBNA from the sain element of the world, shut the door when you leave - BUT pay your taxes before you go.!!!!