experto/varde now PRA Group chasing old MBNA silver nomination choice card debt

[firstship]

Dotty Hi.Quick History.MBNA sold the debt to Exporto and confirmed this in writing,which in turn turned out to be untrue they had sold it to Varde in Ireland,who Exporto wrote and said they represented,Varde never after repeated requests provided a Letter of Assignment or confirmation that Exporto where acting for them .Varde sold the debt on to Aktiv and I continue to pay through a DMP.

 

Realised recently that I paid MBNA PPI,claimed it back, was happy to accept their offer however their letter has a paragraph stating "if we sold the amounts due under this account we may recall this debt and reduce it by the redress amount"

 

This paragraph has started ringing alarm bells,I have read somewhere on this site the case law that was won to confirm they cannot do this,however I cannot find within FOS any confirmation of Offset of a debt that has been sold

 

Any Help with this please

 

FS

[Dotty50]

Hi Firstship,

 

The history of my MBNA thread almost mirrored yours, except I'm not paying anyone.

 

I don't know to the test case you refer, but then I have not paid ppi so it isn't something I've looked into too much.

 

I expect someone on here will be along to assist.

[ims21]

I believe that some debt sales do allow for a debt to be bought back and if MBNA do so then they can use set off.

[firstship]

ims21 thanks for your reply,not the answer I was wanting,but that is life.I assume the 8% interest has to be paid to me?.

 

When a debt is sold this is perhaps when the letter of Assignment should carry all the relevant T&Cs covering the sale.

 

Thanks again ims

 

FS

[ims21]

Yes the 8% interest (less basic rate tax deducted at source) should come to you.

 

As the terms of any right to buy back the account will be in the contract between the seller and buyer, it won't be mentioned in the Notice of Assignment.

[firstship]

ims thank you,

 

take your point a sale between the seller and buyer would not be a part of the Assignment letter,

 

this is perhaps understandable rather like not revealing how much the debt was sold for,

 

if we the debtor was privy to this information we would be in a position to manipulate the situation to our advantage in certain circumstances.

 

I suppose I am annoyed that MBNA sold the debt to they said Exporto and this turned out to be untrue,

 

it was sold to Varde Ireland and Varde would not communicate in any way with a letter of Assignment or confirmation that Exporto would be acting on their behalf, eventually Varde sold the debt to Aktiv,

 

I will just wait and see whether MBNA will recall the debt from Aktiv

 

Thanks for your time with this

 

Regards FS

[ims21]

No probs.

 

If they do then you can always raise a complaint with fos and they may well be able to establish whether a buy back is possible under the terms of the original sale.

 

Don't take a lender's word for it if you can help it.

[firstship]

MBNA have sent the cheque and paid the amount in full that they indicated.

 

Because the PPI goes back to 1999 I did not want to ask them to produce the details of how they worked the PPI out just incase they decided to enforce the 6 year excuse.

 

They have stated this is the Full and Final Settlement and if I had used a 3rd party to make the claim they will send all details of how they arrived at the figure paid,to them.I did not use a 3rd party.

 

When the cheque has cleared I propose to write to them and acknowledge the part payment which I do not accept as a Full and Final Payment,

 

but I require the complete details of how they arrived at the figure.

 

How will I stand with this approach?

 

FS

[firstship]

The PPI MBNA cheque has cleared,I now want to acknowledge receipt of the cheque and refuse to accept that this is a Full and Final Settlement as they have not indicated how they arrived at the figure paid,and I require a full detailed breakdown.

 

Am I treading on dangerous ground,the debt is owned by Aktiv and the PPI was paid to me

 

FS

[ims21]

Did you get a letter of acceptance which you had to sign and return to them agreeing the repayment?

 

You are quite entitled to a full and detailed breakdown from MBNA so no harm in asking for it.

 

Do you know by how much their offer may be incorrect?

[firstship]

ims21 hope you had a good christmas............No signed nothing at all.I do not have any idea of how much their offer may be incorrect by,as they have paid PPI from 1999,and not having statements from 1999 to 2007,I did not want to make them aware of this as I felt they would then enforce the 6 year excuse.

 

I want to see the full calculations from them simply based on MBNAs past performance of trying to get away with underpaying PPI in numerous cases

 

Regards

 

FS

[ims21]

Ok got you.

 

Yes had a good break thanks...hop you did too.

 

So, letter off to MBNA demanding their full and detailed breakdown and then take it form there.

[firstship]

Many thanks for your help

 

FS

[firstship]

Anybody got any idea who Silver Nomination Choice( followed by credit card number 4129 ....etc)

had a statement from PRA group with under the heading "who you owed reference"???

thanks  fs

[dx100uk]

pop the 1st 6 digits in here and it will tell you who issued the card to you.

 

https://www.bindb.com/bin-database.html

 

dx

 

[firstship]

dx Hi thanks, have figured this out MBNA," silver nomination choice" is what is throwing me or was this perhaps the colour of card ??

fs

[dx100uk]

thread title updated and moved to the mbna forum

 

I would expect this to be your old experto one as they merged into the pra group some years ago

 

 

[firstship]

Had a letter from PRA and they state if they cannot supply the original CCA agreement they will send a reconstituted agreement is this still legal

 

Thanks FS

[firstship]

Yes it is MBNA ..Exporto...

 

sent CCA as you suggested because I have been paying through Stepchange who I will scrap when I have had the various replies

 

.PRA return your £1 send letter they will look into my request and will not pursue until they have the required document,

 

 

However they enclose an information leaflet stating if they cannot produce the original signed document they will supply a reconstituted copy.

 

The fact this has been MBNA and then Exporto and now PRA doubt they can produce the original

 

 

Question how do I deal with a reconstituted copy agreement???

Thank you DX

 

FS

Edited August 28, 2022 by dx100uk
Spacing

[dx100uk]

I believe this card precedes 2007 so not applicable.

 

Dx

[firstship]

excuse my ignorance but if a card is pre 2007 why is it not applicable

 

Thank you

 

FS

[dx100uk]

Changes to the cca regarding recons allowed didnt come in till apr 2007 and dont apply to agreement taken out before 2007

 

Dx

[firstship]

DX many thanks very useful piece of information

regards

FS

[dx100uk]

test

[firstship]

I am no longer paying PRA (Exporto,Varde, MBNA) They have sent a copy of the T&Cs, the card was pre 2007,but surely just sending T&Cs is not sufficient, or is it??

Thank you

FS