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stalagtite

Mbna sell debt to Arrow Global

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Just received letter from MBNA stating they have sold debt to Arrow Financial under a Notice of Assignemt.

My questions are

Do I acknowledge debt to Arrow Global

Can I ask how much they paid for the debt?

Is it true that I have basically settled my commitment to MBNA in settling their balance (eve tho Arrow Global have paid it) I have no agreement with AW.

 

Due to financial difficulties I have been paying MBNA £20 without misses for over a year now and the balance is £3450

 

Any advice please.

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DO NOTHING until AG contact you.

Nothey have bought the account with all the rights of the origial agreement.

What they paid for the debt is a commercial secret.

Yes the original agreement now belongs to AG.

 

It seems that you may have been given some very bad advice in the past?

 

If you have an arrangement to pay AG are obliged tocontinue it.


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Hi Stalagtite, You can ask Arrow Global how much they paid for the debt by all means,but they won't tell you,the phrase used often is this is "sensitive commercial information",you may get lucky and they may tell you by mistake,which would be very interesting,they will have paid 7-15% of the total debt value.Disgusting isn't it?

 

You will need to continue to pay Arrow,they have purchased all rights from MBNA,Arrow will try and get you to pay the full amount,remind them that you cannot afford more than the £20 you have been paying,which they will eventually accept.

 

No need to acknowledge Arrow

 

FS

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AG have tocontinue the arrangement, pay the creditor until AG contact you in writting.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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also get an SAR off to mbna unless you have all the statements

 

time to get reclaiming.

 

dx


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