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  • #1

    MBNA Threats and Offer to Settle

    Hi

    I have a mbna and virgin card, sent f&f letter to them, came back wanting income and outgoings, Meanwhile having phonecalls because behind with mbna payments, now on mbna card going to register a default by end of this month so spoke to them on Tue 22nd Nov and gave then income and outgoing details ( because my husband selfemployed been very difficult year) Came to partial settlement agreement 30% owing for each card, but said they couldnt send anything in post confirming because of time scale needs to be paid by end of month said I would ring back because borrowing money of brother but need to confirm with him. They want me to pay over phone with debit card and will email me confirming partial payment and will state settled on credit file but will stay on for 6 years. Feeling pressured but dont want default being issued.

    Already had 2 calls from them today. Can you please advise.

    Thank you
    Tags: 2nd, balances, bank, borrowing, calls, card, credit, creditor, dca, deadline, debit, debit card, debt, debts, default, defaults, details, email, guidelines, help, income, letter, mbna, money, niddy, offers, paid, pay, payments, phone, protection, state, stay, telephone, templates, thank you, threats, virgin
  • #2
    Re: MBNA Threats and Offer to Settle

    The above a was a PM to me by the OP, so I created a new thread to keep it all together (plus I do not get involved via PM as it deprives others of necessary help)...

    So, based on what is being said, if you're looking to make a F&F offer (can you afford this?) then do not pay over the phone, ignore their deadline as these things MUST be in writing and them trying to say otherwise is bollocks.

    I would send this, editing the bold parts with the % to suit - see what they say (you need one for each account so 2 templates in one envelope) ---> Official Full & Final Settlement Template

    Bear in mind they cannot default if you're still within the same month as a late payment, there is guidelines that suggest a default should be considered if non payment occurs for 3 consecutive months but before 6 months missed payments... don't worry too much about defaults, come back to us and clarify - can you afford 30% on both debts to settle?
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    • #3
      Re: MBNA Threats and Offer to Settle

      Thanks mate, I had seen this and was putting together an explanation for the OP but dinner intervened. As you know I have worries for OPs who are doing this. Can I also ask the OP to not discuss this matter at all with any creditor or their representatives on the telephone but to keep everything in writing only.


      regards
      Garlok

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      • #4
        Re: MBNA Threats and Offer to Settle

        I will reiterate with what Niddy and Garlok have said above, MBNA are not nice to do business with so a paper trail of everything both you and them say and/or do is a must for your own protection.

        Regards

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        • #5
          Re: MBNA Threats and Offer to Settle

          Just seen this, I used to work for the clowns, but dont let that put you off!

          There comments of "we only deal over the phone" (I bet they said because they were a telephone bank as well!!) are complete and utter hogwash. (as others have said)

          You NEED to get everything in writing. I have seen it before where everything was done on the phone, the remainder of the debt passed to a DCA, and low and behold there was no record of the phone call because "MBNA do not record 100% of their calls"
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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          • #6
            Re: MBNA Threats and Offer to Settle

            And of course never be fooled by the comments of accepting "partial settlement", this is to leave the door open for pursuit of the outstanding balances by them or anyone they sell it on to.

            regards
            Garlok

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            • #7
              Re: MBNA Threats and Offer to Settle

              Thank you everyone and for advice, I havent paid mbna since may2011 then paid in aug £50 and then set up restructure payments but havent paid anything else since, so at the end of this month I will of missed payment for 3 consecutive months and on the bottom of Oct statement in small wtiting it says A default has now been scheduled to register on your credit file. If you are unable to clear your arrears it's not too late to benefit from our assistance. My virgin card this month is first missed payment. My brother will lend me money to pay 30%... if it is settled and properly done. I will send the official full & final settlement letters as you suggest and let you know and won't speak over the phone to them.

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              • #8
                Re: MBNA Threats and Offer to Settle

                OP get them to put it in writing; I was in a similar position and insisted they put it in writing, which they did eventually.

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