Jump to content


DavidN

MBNA Credit Card Debt

style="text-align:center;"> Please note that this topic has not had any new posts for the last 1069 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.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hello, I hope this is the right forum and that someone can advise me on the best way to deal with my problem.

 

I have an outstanding unsecured credit card balance with MBNA that I now can no longer settle.

 

 

The sum is £8000 and was a consolidation of a number of debts into one some years ago.

It was originally with RBS but I transferred it to MBNA on the basis of 0% interest.

 

 

This was some three years ago and we have been paying it off at £350 per month.

Unfortunately, the part-time job I had which helped the repayment process ended in September last year.

 

 

As we are both pensioners and on a fixed income we can no longer afford the repayments.

Our savings have dwindled to nothing so there is not a lot left!

 

 

There is little or no chance of finding a job,

there is no support mechanism where we live as the CAB closed and the local authority closed its 'rights office' locally.

 

The property we live in is almost mortgage free and the property has been left to our children in our wills.

 

 

I have considered cancelling the direct debit and waiting to see what the response would be.

Also as the debt is in my name and not jointly with my wife I have thought about bankruptcy as at 68 I am not really bothered about my credit ratings and the issues around loans etc.

 

I am really becoming desperate now and need some sound advice on how to resolve this problem.

Many thanks in anticipation.

Share this post


Link to post
Share on other sites

presume that you are being charged interest on the capital?

If you tell them that you are broke and going to head down the bankruptcy road they may well come to an arrangement pronto.

 

I would have thought that £40 a month would be more than enough, whatever you can afford without killing yourselves.

 

Dont let them talk you into doing an I&E sheet,

they wont be making allowances for when you need a new roof in their sums,

just tell them waht you can afford and cut he card up

Share this post


Link to post
Share on other sites

I would not go down any route that would lead this debt to become secured or put you directly into any long term commitment.

like going BK or DRO or whatever.

 

it might pay you to use some of the letters in our DCA section of the library.

 

one might be the please write my debt off as theres no prospect of ever paying it off.

 

odds on, they will sell this on to a dca once they know your history and probable intentions.

 

when did you transfer these debts into the 0% card?

 

and going back to the original debts themselves

have you ever looked at reclaiming penalty fees and any PPI that's sitting around on them?

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

Hi dx.

Thank you for your response.

 

 

I will investigate the library for any and all appropriate letters.

 

 

I wonder if you could provide a link to the relevant ones?

 

 

The debts are quite old.

Perhaps going back to the 90s.

They are a combination of expenditure whilst being unemployed (three times over six years) holiday expenditure etc.

 

 

We were banking with RBS and had been for over forty years in its various guises.

But had credit cards with HBOS, HTC Bank MBNA and Amex.

 

 

We consolidated them all the outstanding balances into an RBS one.

We had a major falling out with RBS over the transfer of ISA's and closed the account.

Moving everything to Santander when we moved house.

 

 

I transferred the consolidated account to MBNA about three years ago to take advantage of the 0% offer they had at the time.

 

 

We have used a CMC to investigate PPI and they have been successful in some cases so I am assuming that they will have checked if any outstanding PPI issues are still relevant.

Hope this gives you more of an idea as to the situation?

Share this post


Link to post
Share on other sites

god I would never use a CMC they've no more clout than you or I

and you'll lose upwards of 30% of anything + vat if you win.

 

 

look in the Debt collection section of the library


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

Share this post


Link to post
Share on other sites

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...