do i have a claim with MBNA??

[skintsteve]

I’m not sure if I’m entitled to claim anything from MBNA, It started 4 years ago, when i hit my limit of £5300

So I cut up my card & made monthly payments, but there are times when I just cannot afford to make a payment.

So, although I have been paying £150-£200per month to MBNA for the last 4 years, I still owe £5300

When ever I contact them, to come to some sort of agreement, they are just not interested, they just demand I make payment by debit card, immediately!

[jimbob2]

Its often the case that if you are as you say making regular payments which by sounds of it is minimum payments each month, there's absolutely nothing in it for them to come to an arrangement with you, sad fact is they will only come to an arrangement once the account falls seriously in arrears

[iwannabedebtfree]

skint steve

 

have you tried a SAR to look into whether any of the amount owed is charges? it may be worth your while starting there, there are letters in the templates section. send one off to mbna with a tenner asking for all your statements and go through them looking at any charges.

 

at the same time if you feel you cannot make the monthly payments, fill in an income/expenditure form and look at what you can feasibly afford. write off to MBNA with the form and make them an offer. IT may be worth your while talking to CCCS, i think they are the free helpline either them or debtline / CAB etc anyone that can give free impartial advice on the best options available.

 

i took MBNA's advice and got shafted into an arrangement to pay which had i claimed back charges (at the time of the arrangement the OFT decision had not been made) i would have not been in the arrangement.

 

Its usually the interest per month that shafts soo much as all you are ever paying off is the interest plus a tiny amount of the money outstanding..

 

 

good luck

[TETSUO]

I can pretty much guarantee that you will have late payment fees and possibly even over limit fees (if you have gone over your limit in the past)

I would deffo send an SAR off to them and see what's what. You have nothing to lose.

[Guest Battleaxe]

You will be able to claim all those fees back with interest, This will make a difference, don't forget to add a letter stating that your are disputing the account and ask for a full SAR and the credit agreement. They hate this and try to stall, hjust let them know that you are curtting them no slack.

 

See my thread Battleaxe does MBNA

[phatram]

Claim interest at their unauthorised interest rate which is about 28% it makes a massive difference to the amount they owe you.

See here and read it well.

http://www.consumeractiongroup.co.uk/forum/general/7252-new-way-looking-interest.html

[ntomlinson8873]

skintsteve,

 

All the above is valid but you still owe MBNA £5300....

 

If you can, transfer the balance to a 0% interest card (even if you have to pay a fee to do so). Then at least what you pay is coming off the debt and not just repaying the interest

[Guest Battleaxe]

Yes the money is still owed, but by checking to see what the balance is made up off, charges and interest on those charges, it can make a big difference to the final balance owed. Of course if the credit agreement shows it has not been properly executed, that will give you some leverage in bargaining with them.