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  • #1

    Stupidly made offer to MBNA - declined

    So I previously lived In the UK and moved back to the States a few months ago. I had been made redundant by my firm and received a small sum which helped us move back and buy a used car etc. I had tbsp left in my UK bank and contacted mbna trying to get a settlement amount. I was trying to payoff my debt there but Mbna did to me like they did to everyone else and for no reason jacked up my apr for 19% to 30+%. So over the last few years I haven't been able to dig myself out. I wanted to keep a bit aside for emergencies but offer £7,000 on a £10,800 debt. I got a call today saying it had been declined as my account with they was flawless and I have kept up on my payments. They have terminated the card, frozen the interest and canceled the direct debit I had.

    Well ill where do I go from here? Wait for a collection agency to pick up the debt and try to pay them off? I honestly thought they would accept the offer and felt a weight lifted the last few days. Now that they have declined I am stressed out and have lost any appetite I have. I just want to pay them off but also want to hold on to a bit for emergencies. If anyone has any advice I would greatly appreciate it. I'm happy to compensate anyone that can assist me with this nightmare!
    Tags: addresses, advice, agency, america, apr, bank, car, card, civil, collection, collectors, con, credit, credit card, date, dca, debit, debt, debt collectors, decline, direct debit, fee, fine, funds, hsbc, interest, letter, letters, life, lost, mbna, mobile, money, payments, phone, pra, small, unenforceable, usa, virgin, work
  • #2
    Re: Stupidly made offer to MBNA - declined

    Where do you live? UK or USA?

    If USA they can't touch you. It's not the USA here - it's a civil issue and you won't get arrested or anything. Just move on with your life and forget about it.
    I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

    If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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    • #3
      Re: Stupidly made offer to MBNA - declined

      I'm in the US now but can't they sell the debt on to a U.S. company? I also have them my address as they had me go through my incoming and outgoing income etc. They said they needed my new address to and the settlement agmt confirmation letter and then didn't accept the settlement. So I guess now I sit and wait for them to pass my acct to a DCA and then what negotiate with them? They don't have my apt # here so maybe it will be hard to track me I can also change my mobile number pretty easily. I didn't give it to them but have a cheap phone plan where I call a number and then punch in the UK number I want to call. The odd thing was that some how my mobile number came up I guess on their end as he said I have the number your calling from and read it off. I was hoping to not give them my number but can easily change it for a small fee.

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      • #4
        Re: Stupidly made offer to MBNA - declined

        HAving used to work for them - seriously, if you are in the US, forget about it. They wont chase you (maybe a couple of letters), they certainly wont call you, and they definitely wont send any debt collectors.

        If you are not / wont be returning any time soon, completely ignore them and forget about it.
        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.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Stupidly made offer to MBNA - declined

          Originally posted by Never-In-Doubt View Post
          Where do you live? UK or USA?

          If USA they can't touch you. It's not the USA here - it's a civil issue and you won't get arrested or anything. Just move on with your life and forget about it.
          I reiterate ^^^^^
          I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

          If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

          Comment

          • #6
            Re: Stupidly made offer to MBNA - declined

            ^ Same to. This is UK civil stuff. Nothing to do with the US of A. I wish I was over there with you. Can we use your address, lol :-)

            Comment

            • #7
              Re: Stupidly made offer to MBNA - declined

              Hey, I have a couple of old US addresses I use to live at I could fling out there for you. This entire situation is really taking its toll on me. I also just recently found out that mbna was never sold by BOA which I thought it was. Well the issue I have been stressing about is they are my employer and I have been losing sleep and not eating as I am now wondering if they don't get paid will I lose my job for not paying them? I really don't want to screw my employer over by not paying and they really don't even want to work with you on a settlement amount. I mean I offered 65% and the reason it's so much in the first place is due to them raising the interest rate from 19% to 35%. Funnily enought so did HSBC even though I paid over the minimum and also never made a late payment. I hate credit card companies all they want to do is make our lives a living hell.

              Comment

              • #8
                Re: Stupidly made offer to MBNA - declined

                Oh, by the way these are two separate mbna accounts the one is with Virgin for £7323 and the other a regular mbna for £3529. The one where the interest rate went thru the roof was the Virgin one but for some reason or another the other mbna they left w the lower Interest rate. I just logged into that account and was paying £250 a month and most of it was interest with less than £100 going towards the principal. No wonder the biome on the phone said we will freeze all interest etc and hopefully you will get a job soon (I told them I just moved over and had no job yet) and then can start paying again. Bastards.

                Comment

                • #9
                  Re: Stupidly made offer to MBNA - declined

                  The virgin will likely be fine --> http://forums.all-about-debt.co.uk/s...-Unenforceable!
                  I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                  If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                  Comment

                  • #10
                    Re: Stupidly made offer to MBNA - declined

                    Bummer being - you work for them. So did Oscar (AAD site team) - pm him
                    I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                    If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                    Comment

                    • #11
                      Re: Stupidly made offer to MBNA - declined

                      Originally posted by Never-In-Doubt View Post
                      Bummer being - you work for them. So did Oscar (AAD site team) - pm him
                      Thanks I just did. The last I have reads year or 2 ago was they were selling the credit card business which clearly didn't happen. You can imagine my shock when I went online and read up about mbna that they were still owned by them

                      also so I just pulled out my Virgin card and sadly I opened the acct in 2010. I got excited for a min when I read the post on here about if it were prior to 2007.

                      Comment

                      • #12
                        Re: Stupidly made offer to MBNA - declined

                        Thanks for all of your help, I really appreciate it. On to my next question, I still have a bit of money left over in the UK which I left for if I could get them to accept any type of settlement agreement. I have used Transerwise to move money previously from there to here. I was just wondering if I went to transfer the money whether it would raise a red flag on hsbc's end if they see me transferring the balance out (as I have my other credit card balance w them (£6,000) . I just thought it was safer then depositing a UK cheque into my bank account here. Any advice or ideas?

                        Also, i was trying to wait a bit until the exchange rate got a bit better. Would you advise until then to make a few small payments to mbna as they have stopped the direct debits (I have also been able to confirm this as they are now removed from my acct) until I transfer the funds?

                        Comment

                        • #13
                          Re: Stupidly made offer to MBNA - declined

                          I will assume that your Credit Card account with HSBC is up to date, otherwise they would have already used those funds to settle any arrears.

                          I would transfer your money to your US account ...... personally, I wouldn't make payments to MBNA - as they have stopped the direct debit, they cannot access any further funds.
                          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.

                          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                          Comment

                          • #14
                            Re: Stupidly made offer to MBNA - declined

                            Originally posted by oscar View Post
                            I will assume that your Credit Card account with HSBC is up to date, otherwise they would have already used those funds to settle any arrears.

                            I would transfer your money to your US account ...... personally, I wouldn't make payments to MBNA - as they have stopped the direct debit, they cannot access any further funds.

                            Hi,

                            All of of my accounts are current. I was going to try to do a settlement originally and figured I would start w mbna. If I start receiving any correspondence from them I'll let you know.

                            Comment

                            • #15
                              Re: Stupidly made offer to MBNA - declined

                              Are you planning on stopping in the US long term. If so, I would ignore everybody.
                              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.

                              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                              Comment

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