Got an MBNA C/C Written Off - March 2008!

Cashpig74 · 8 March 2009 at 2:41AM

Took it out March 2008 under the impression that they offered a guarenteed maximum repayment of only £25 per month for the first year NO MATTER WHAT the outstanding balance was - 0% APR. I took it out, clarified with the sales team that the £25 deal was real - was told YES in no uncertain terms...

came to the first months payment - £212.00. Made a complaint by phone, was told it was only the case on the first month but the other months from then on would only be £25.

Each month that went by the statements were hundreds of pounds - I did have £5,600 outstanding balance, but it went against their promotion.

They claimed I used it for gambling and cash and that wasnt in the deal - they claimed I made late payments and the deal was revoked...

I stopped paying them and told them they had mis-sold it to me and sought CAB advice. Wrote loads of letters and hassled them about my case - they eventually (after contradicting themselves) wrote off the interset and charges.

After 180 days wrote off the entire balance as bad debt !! They take no blame in the matter, but I will keep on at the them to fix the poor credit rating default that they have created through it.

They also showed no evidence of any calls recorded even though I made about 20 phone calls to them over the months.

If anyone else is on this deal and feels that it is grossly mis-sold or mis advertised - then you have hope to get some redress.

:-) Happy days.

YorkshireBoy · 8 March 2009 at 2:56AM

You were very lucky, and I'm surprised they caved in.

The T&C's were extremely clear in that the first payment was (it's changed now*) either...

3% (circa, I forget exactly)

or

BT fee + £5

whichever was the LEAST (and with a £25 or full balance collar).

Therefore your BT fee was payable with the first minimum payment.

* They now (as of last Sept/Oct?) operate as you thought, ie all payments are £25 including the first.

Cashpig74 · 8 March 2009 at 10:05AM

Well I either misunderstood the deal OR their teams on the sales floor told me a whole load of hoooohaa.... I demanded transcripts of calls etc... going back a year and wrote some amazingly detailed almost "!!!!!y" letters! It helped that their staff contradicted themselves too - so I accused them of lying and misleading, flase advertising etc... I didn't hold back.

I suspect that they uncovered some tapes and found that they were in the wrong somehow and that it would eventually come to light.

I will write to them to still to get my rating repaired.

:-)

Kavanne · 8 March 2009 at 10:33AM

I wouldn't hold your breath. Did you win at the gambling or did you lose it all?

Cashpig74 · 8 March 2009 at 11:09AM

I robbed them? It's like going to Tesco and seeing an offer "buy our plasma TV now - and only repay £25 per month for the first year"....

That's what I was told - and had it confirmed FOUR times on the phone.

I am angry that I was mislead. If they had been honest about the "promotion" then I would have refused the card as it wouldn't have been what I wanted. Instead, they told me what I wanted to hear - a total MIS-SELLING and they deserve to be knocked.

Besides, it was THEIR choice to write the card off - not mine. I did not take them to court. They would only back down and cave in IF they knew they were in the wrong.

Oh - and the gambling?? Well I was trying a "sports trading" exercise which is why £25 per month repayment was ideal cos I knew I wanted a lot of funds to play with - and it didn't work out!

Kavanne · 8 March 2009 at 11:12AM

What a shame.

Cashpig74 · 8 March 2009 at 11:23AM

Hmm do I suspect a touch of sarcasm here Kavanne????

bengal-stripe · 8 March 2009 at 11:41AM

I wonder, why do I have difficulties to believe Cashpig74's story?

Cashpig74 · 8 March 2009 at 12:03PM

*scratches head* The point of my original post was to highlight to other users that cards/agreement after April 2007 can still be challenged successfully if there are errors. I'm not here to pick up an award from users I dont even know or have never met - I couldn't give a rat's a*se if it's believed or not - OR if anyone actually responded - but if someone out there has the same card on the same deal and is in the same situation as I was - then they'll know that it is possible to qustion the banks sales techniiques.

It's not an unheard of situation that banks sell you products using dubious methods. They're just like any other commercial enterpirse - they are out to make a profit. Nothing more.

withnell · 8 March 2009 at 1:36PM

You should make them a payment of the 5600, becuase you spent the cash and its morally right to - you've have a 0% loan for a year off them, so why should they pay for your spending?

Or should I say, why should *I* as a paying customer pay for your debts through increasing interest rates?

Cashpig74 · 8 March 2009 at 3:11PM

!!!!!!? Yeh ok MBNA - here's your £5600. Erm, I don't think so. Morals do not come into it. If you are going to be one of these "morals" people where the banks are concerned, then you are a mug.

Increased interest rates? Well, if you dont wanna pay increased rates, don't agree to borrowing the money then.

The deal with MBNA should have been how they described it. It was not.
They lied to me about it and fabricated it - a bit like you see a box in a cake shop with a picture of a nice delcious sponge cake on the front..

when you open it, it's rotten old bread pudding..

Are you going to complain - or eat the rotten old bread pudding cos you dont want to upset them?

Mug.

Got an MBNA C/C Written Off - March 2008!

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