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Mbna Loan-Perculiar Quandary

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This is an odd one. My O/H had an Mbna loan which was defaulted on last year when he was drowning in debt. Mbna sold the debt to a debt collector ( it is sold - not just being collected by them ). When he defaulted the loan was 5.1k. The collector now has it up to 5.5k. We are about to send the DPA letter to Mbna for the info for 5 years which will cover this loan plus a credit card defaulted ( short settlement ) agreed/paid.

Maybe I'm asking questions too early, I should wait for the info first. But the charges on this loan, what do we do ? I mean, he can't ask for them to be repaid since he won't have paid them, but the current owner of the debt is chasing full payment ( 5.5k ) which obviously includes these charges. And I would bet money on the fact that the current owner won't reduce the debt re the unfair charges, because they'll say it's nothing to do with them.

Any thoughts appreciated.

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...I mean, he can't ask for them to be repaid since he won't have paid them, ....

 

Oh yes he can (and we're not even close to Panto season!)

 

If they are requesting you pay it, then you should request they refund it.

 

Hopefully someone with more knowledge will also clarify this point - but I think it may be necessary to get two DPA requests sorted, one for MBNA and one for the debt collection agency.

 

This way you can seperate the 2 lots of charges, making one claim for a refund of charges before the debt was sold, and the other for a refund since then.

 

Hope that helps.

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Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

 

 

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Thanks Jonni2bad

 

I dunno. It still doesn't feel right that we could get charges refunded that haven't actually been paid. If Mbna had kept the loan, then we could have demanded they reduce the loan balance by the amount of unlawful charges applied to the account. But they've sold it.

 

On the DCA I'd say no chance of anything. I've had a steep learning curve re debt and debt collecting agencies since I've been helping O/H. They don't obey the rules or law - they just threaten and harrass and tell bare-faced lies. On this particular debt, in Nov last year, we wrote saying he didn't acknowledge the debt and requested the deed of assignment, copy of credit agreement & statement of account with the £1 stat fee. Fee cashed but nothing sent. They ignore the law. Just a constant stream of 'red' letters.

 

Don't get me wrong, Mbna are bastards. The phone never stopped ringing. But the DCA's are worse.

 

Ok. plan is to do the DPA thing. See what the charges actually are. Then come back here and ask for advice re the right thing to do next.

 

Cheers

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With reference to those charges you have not yet paid - as things stand, you have a debt that was partially generated by unlawful means. If you think that asking them to withdraw this part will get a result, you need to place a small amount of trust in those on this site who can testify it doesn't work!

 

My own existing Halifax overdraft, being dealt with by a DCA, is around £650. This is due entirely to charges. Clearly I have not paid it, but I am claiming it back now, just as I have suggested above. Once I get my money back, they may decide to just pay that part of it directly into the account, effectively cancelling each other out, and then give me the difference.

 

On the other notes, it can be easy for people to say "don't be put off" etc, especially if they haven't experienced this sort of thing for themselves but, unfortunately, I have. Maybe to less of an extreme, but we can save that for another day....

 

It's perhaps time that you were able to bring these idiots to book for their actions.

 

Certainly start with the D.P.A. request on MBNA, but I would strongly advise that you do the same with the DCA, send this by special delivery if you can spare the extra £3.50 - you might consider it another dead end, but if they fail to respond, or inadequately, then you must report them to the Information Commissioner's Office.

 

This will likely result in a fine for them (I believe so anyway) and the I.C. will force them to supply the information requested.

 

I think it is also prudent to include a further note to the DCA, informing them that part of the debt is in dispute, and because of this they have a legal requirement not to take further action until it is resolved. You must continue to make your payments to them though.

 

I'm sure you are still thinking "did you not read my notes about them avoiding the letter of the law?" but I did. It is important, right now, that you have evidence to show you have followed correct proceedures and given them every opportunity to respond - it seems very likely that you will need to persue this claim through court.

 

If they chose to ignore your court action, all the better. You can, amongst other things, send in the bailiffs if they then refuse to pay you. If they ignore you up until court, and then offer a defence, the court will take a very dim view of their actions and you will effectively start out 'in front' as it were...

 

Clearly they have acted in a very bad way, MBNA too by the sounds of it, but I would advise you refrain from the slight slip into bad language - even when clearly warranted! You will face the wrath of the site team, and they go green and muscle bound when they are angry!


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Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

 

 

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Clearly they have acted in a very bad way, MBNA too by the sounds of it, but I would advise you refrain from the slight slip into bad language - even when clearly warranted! You will face the wrath of the site team, and they go green and muscle bound when they are angry!

 

Oops sorry about that :)

 

But .... green and muscle bound sounds like a sight worth seeing !

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Hi,i noticed this thread and was wondering if anyone could help

I have a c/c debt that was sold by mbna to link financial, i was told by mbna for £1000 ( the debt was £6000)

I was offered a reduced payment plan by mbna of £2400, if payed in full, which was not limited by time as long as i made the minimum payment of £50 p/m. I missed a payment and the debt was sold.

Link have asked me to pay the £6000 in full. My first contact i offered them a reduced amount, as i sold my car and was using the funds to pay several debts, they refused this, and also refused a monthly payment plan unless i 'bought one'. They wanted £500 for this.

I spoke to them two days later, once they had my credit file, to see what they could offer. They said if i gave them £4800 they would clear the debt( a profit of £3800 for them) I could not meet this and was told ' i'll do you a favor and offer me a monthly payment plan'. Befor this was offered i quesioned why they were now willing to do this when two days prior i was told they don't do this, i was told 'i don't like your attitude,and withdrew the offer, and told me i would recieve a letter demanding the £6000 or wll be taken to court.

Where do i stand? I have tried to come to a agreement, was polite, was never abusive, or used bad language.

 

Please help!

 

Thanks,Morph

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This topic was closed on 08 March 2019.

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style="text-align:center;"> Please note that this topic has not had any new posts for the last 4767 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

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