MBNA and Arden

[Sappho]

Thank you for the warm welcome to this site. My situation is as follows:- I have a major problem which has taken up the best part of my free time over the past year with a former Lehman's Bros small debt (with a second charge on my house), with an annual attempt on their behalf to repossess my house - last year it was on the grounds I made one payment three weeks late. I currently have about four complaints being handled by the FSO so I have a breathing space in which to sort out unsecured debt. Up to now I have responded to all telephone calls, which average at about four a day with "its unsecured so naff off and do your worst, I ent scared of the likes of you" however this really won't do in the long term.
My main problem is with a biggish loan to MBNA, currently in the hands of Arden. I have absolutely no paperwork for this loan, and I remember at the time being amazed I wasn't asked to sign anything, except annual statements. I applied on the phone in, I think, late 2006. I do know it was for £15000 and it currently stands at just under £20000 which means there must be PPI on it. Should I apply to MBNA to have this refunded or will this be acknowledgement of the debt? Given the age of this and that I probably never signed anything, is enforceability the route to go down? Do I ask MBNA or Arden for a copy of the CCA? Or both?

Arden don't seem to have the correct loan number and also the letter of assignment was not to them but to another company. Is it worth adding in to a CCA request to them to prove that the loan they are pursuing is the right one, and to produce the paperwork that links through to MBNA?

Oh, and I have to confess that on a particularly bad day when I had had four calls from Arden starting at 8.30 in the morning I paid them £1 because they promised they would not ring again. This was when I was trying to get a Payplan thing set up. I gave them a Payplan number and they promised ..... I know! I know!

[Undercover Elsa]

Re: MBNA and Arden

Hello Sappho and a very warm welcome to AAD!

For clarity, let's just concentrate on MBNA on this thread, but I think your situation with Lehman's needs addressing too, so maybe you could start another thread for that.

MBNA are NOT popular on here. (Once you've read around a little you'll realise why. They like to get CCJ's by stealth, sending the summons to old addresses etc.

Please please don't answer the phone to them again. Keep everything in writing from now on.
You need to send a CCA request to Arden if they're the ones pestering.
Template here>> Our Templates | Unenforceability Templates | CCA Request
Obviously sign digitally and to save any messing about as to payee, send a blank PO with "For information request only" and your name & address on the back.

If you could set out the details in the format below it helps everyone to follow:

• Type of account (credit card/loan)
  
  
• Date commenced (ideally before Apr 2007)
  
  
• Approx balance
  
  
• Date last paid (approximate date you last made a FULL payment)
  
  
• Are you on arrangement or not paying
  
  
• Status (default/in arrears/up-to-date)
  
  
• Account owner (who is writing to you, a DCA or the lender)

Then, when you start the process lay your diary out in a format like this example
---> Example of perfect layout

[Undercover Elsa]

Re: MBNA and Arden

With regard to the PPI, best time to claim it back is after the loan has been sold, so that payment comes direct to you, otherwise it just reduces the balance.

Have Arden purchased the debt, or do they refer to MBNA as "our clients"?
Have you had a notice of assignment of the debt?

I'd just send the CCA request off for now, see what, if anything, they come back with before deciding how to progress with the PPI. Nothing makes them more likely to sell than realising they don't have an enforceable agreement

Have a good read up on uneforceability, starting here:

UPDATED - A Full Guide to Unenforceability - allaboutFORUMS

Anything you're not sure of, just shout..

Elsa x

[Never-In-Doubt]

Re: MBNA and Arden

I suspect the mbna loan was taken over phone utilising electronic comms act. Basically as you applied over the phone they'll try and tick the box on any recon they may issue

[mgfboy]

Re: MBNA and Arden

So what was the situation with Lehmans, I didn't realise they did any retail lending in the UK.

But what ever it is I'm sure between us all we can help out.

[oscar]

Re: MBNA and Arden

I have a sneaky feeling the MBNA loan may be a secured one as well .... but then I would have thought they would have taken action if that was the case.

[oscar]

Re: MBNA and Arden

Surely you'd know if a loan was secured on your home...

Not the way they used to be sold there ...... usually if you wanted to increase your credit limit.

"We cant help, but we know someone who can" - this loan then used to include the credit car debt.

[Sappho]

Re: MBNA and Arden

No, my MBNA loan is not a secured debt - phew, you had me going there!
I will post the Lehman's story on another thread, but it will take me some time, it's a complicated story. Yes Lehman's certainly had mortgages and loans in this country (and some were provided in the name of certain High St lenders - Alliance and Leicester being one) contrary to popular belief, around 180 000 when they went belly up. They have less than 76000 now as a truly massive programme of repossessions have redeemed many of these loans.
There used to be a fantastic website for Capstone/Acenden victims (Capstone/Acenden being the mortgage administrators for this particular bunch of barstewards) which just before it was shut down had over 100000 hits - there are a lot of aggrieved people out there. There are still a lot of us out there and I am sure many would welcome the kind of support you guys can provide.

[Never-In-Doubt]

Re: MBNA and Arden

^^^^^ interesting stats - can you email me something from them confirming this?

It's very relative plus you'd also gain our trust by proving your not a scum sucking dca )

[Sappho]

Re: MBNA and Arden

I don't know what I could send you that would make you trust me. The Acenden Action site is down and I am not sure why, but google acenden action as the postings are still appearing although the link to the site is down.

Well, the prospectus for the portfolio (Eurosail) company my loan is in (Eurosail UK 2007 1NC PLC) has the statistics. 10 000 loans. Some mortgage notes expire in 2026 (like mine) and are expected to be redeemed in 5 years - so repossession within five years is in their actual game plan. Prospectus is on line. There are 11 more SPV's like 1NC. So 120 000 loans and mortgages (including some buy-to-lets for Alliance and Leicester who hooked up with Lehmans)

More nuggets in the prospectus include the fact that Eurosail say they have no intention of registering with the Land Registry that they have bought the loan nor of telling the borrowers they have done so ie they will exploit a "registration gap" because they have to register the sale but the legislation does not specify when. The prospectus is dated 2007 and the loans registered in December 2010. So the originator of the loan sold them immediately but kept the legal ownership so SPPL kept trying to take borrowers to court for repossession when they had been paid out in full for the loan, at a time when they had ceased financial trading, had only one director and weren't filing accounts.

Eurosail - who now have the charge on my property - used to have a CCL but it lapsed in March 2012. I still cannot find out whether the SPV's need one or not, and the OFT won't give me a ruling, because they don't accept individual complaints. There are Consumer Credit Act 1974 dimensions to this as the second charge loans are regulated - I use the term loosely - by the OFT. I cannot find out why Eurosail are allowed to have variable terms and conditions because their agreement does not seem to have a clause that allows them to impose a new tarif on their whim and the FSO won't give me a ruling on this and completely ignores this part of my complaint. The agreement clearly sets out a tarif of penalty charges which though very unfair are quite clear but Eurosail have imposed another set.

I've started this the wrong way around. I should explain that a DCA was involved at the very start which is the infamous Acenden (formerly Capstone) and this is not because of default. Capstone were owned by Lehmans and survived the collapse due to a management buyout. They do have a CCL apparently.

So outstanding issues:- a) do Eurosail who own my debt need a CCL?
b) can they impose random charges under the CCA? And why can they do this?
c) why does the FSA/FSO/OFT allow this company to breach OFT guidelines on Unfair Practice and all relevant "Treating Customers Fairly" practices for second charges and MCOB for first charges? And this wouldn't have anything to do with PwC whingeing to David Cameron that Lehman's should be give a "light regulatory touch" otherwise there would be more mayhem in the stock market? why have they not been fined for imposing charges that do not reflect the actual cost of work done like Swift, Deutsche Bank, Kensington and GMAC?

I don't know what I can say that would persuade you that I am not some bottom-feeding SHILL but I assure you I'm not!

[Sappho]

Re: MBNA and Arden

Sorry, the above was a bit of a rant. Problem is I have been living and breathing all this for over the year and have difficulty seeing the wood for the trees.

I will start up another thread for this as some of the lessons I have rather painfully learnt over the year might be of help to someone else and I think your CCA expertise might come in really handy.

I'll explain more elsewhere.

[Never-In-Doubt]

Re: MBNA and Arden

I don't know what I can say that would persuade you that I am not some bottom-feeding SHILL but I assure you I'm not!

You do not need to prove anything

[Sappho]

Re: MBNA and Arden

Type of account (credit card/loan) MBNA

Date commenced (ideally before Apr 2007) mid 2006

Approx balance £17 000

Date last paid (approximate date you last made a FULL payment) 2009

Are you on arrangement or not paying not paying

Status (default/in arrears/up-to-date) default

Account owner (who is writing to you, a DCA or the lender) DCA (Arden)

8th September no response from Arden. 12 + 2 days are up. I requested CCA and a copy of the notice of assignment. Their account number seems to be one of their own, nothing in their letters shows they actually have a debt in my name.
The daily calls have stopped, enjoying the quiet.

12th September:- Letter from Moorgate, not Arden surprisingly, with a couple of copies of the CCA. It shows I signed it in 2006, bother, and looks pretty enforceable to me. I will scan and send to you Niddy, if that's OK with you. The Payment Protection box is unticked, and I signed the box by mistake, but crossed it out clearly, so there was no excuse for plonking on shed loads of PPI, £5900 worth, no less - and at 7.9% pa that's a lot of dosh so my next move is pretty clear. Do you advise writing back to Moorgate and asking for Notice of Assignment of debt? I suspect that Arden are third down the line as I think the orginal DCA was Mortlake not Moorgate. I will be a lot happier if I know these DCA's were buying the debt.

30th September - call from Arden. Told them they hadn't replied to my letter and the account was now in dispute as the PPI had been added to the account fraudulently since i had not checked the box for PPI and I was claiming the PPI back and this would take 56 days and they needed to stop pestering me until this was resolved. they said they could only "hold the account" for a week.

5th October - letter came say an appointed field agent (resolvecall) would be "attending my property" unless I rang them with a proposal to resolve the matter by tomorrow (Saturday) So i will be emailing them tonight to tell them the account is now in dispute. They will be charging me £100 for this visit. Feeling a bit panicky, these guys tend to be big and come in pairs and shout a lot.

[Never-In-Doubt]

Re: MBNA and Arden

I'm awaiting a response from Paul on this.

Bear with us.

[Sappho]

Re: MBNA and Arden

I am trying to scan and send the CCA and the terms and conditions for this loan but am having trouble. Just a stand up quickie, there are two steps to the CCA - one the amount of the loan and one for the PPI. I signed for the loan but not for the PPI. They slapped on the PPI anyway. Does this affect the enforceability of the loan in any way - that the sum owing includes part of it that I did not sign for?