MBNA and sale of debt

[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

[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.

[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.

[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

[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.

[citizenB]

Victoria, it is my understanding, if the company refuses to give a Final response, then you are permitted to take your complaint to the FOS - and simply adivse FOS that communication appears to have broken down and the creditor is refusing to provide a formal Final response letter !

[citizenB]

[citizenB]

Thank you Andy, so basically they can sell the debt and it's tough luck, should I just continue with the payments as I am doing as someone has said I am not evading or denying the debt but simply paying what I can afford even though it is going to take a long time to end.

 

 

Yes, you should continue to pay MBNA until such times as the new owner provides you with new bank details.

 

If and when they do contact you, can you please scan in the letter so we can advise further. If you follow the instructions below you shouldnt have any problems. Remember to edit out personal information

 

Dx100 – Instructions on uploading pdfs

scan the required letters/agreements/sheets

as a picture file

remove all pers info inc barcodes etc using paint

but leave all figures and dates.

goto one of the many free online pdf converter websites

convert the image to pdf format.

or ir you have PDF as an installed printer drive use that

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

NB:you can set where it goes in the post by hitting insert inline.

the hit reply button

[citizenB]

what is sra?

 

Solicitors Regulation Authority