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Mbna
iamsc
Posts: 17 Forumite
Having received my SOA, MBNA have said I am a severe hardship case. But they keep encouraging me to pay approx double what I have told them I can afford, they keep saying it will mean they will keep the debt rather than selling it on to a DCA. But what difference would it make if they do sell it on? Is it worth me selling my body (or something!) to pay them the extra so they will keep it?
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is there a default on the debt?
And from when does it date?If you've have not made a mistake, you've made nothing0 -
Having received my SOA, MBNA have said I am a severe hardship case. But they keep encouraging me to pay approx double what I have told them I can afford, they keep saying it will mean they will keep the debt rather than selling it on to a DCA. But what difference would it make if they do sell it on? Is it worth me selling my body (or something!) to pay them the extra so they will keep it?
MBNA (probably) wont keep it even if you make higher payments that are less than the minimum. If you are faling to make the minimum payments, whether through a payment plan, IVA or otherwise, selling your account will make very little difference (credit file wise) Some DCAs are easier to deal with than the companies if payments are made (given they bought it for pennies. However, given I work for MBNA, I am fuly awrae of the tactics they employ to gain money.
Dont give into them, tell them, they have your SOA, its all you can afford, tough luck.
You may also want to claim all your charges from them, which will at least reduce your debt.No Longer works for MBNA as of August 2010 - redundancy money will be nice though.
Proud to be a Friend of Niddy.
no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date0 -
From what I've read on here, I've had a totally different experience with MBNA. they are my largest creditor and have been brilliant with me. I'm paying half of the minimum amount and have been for the last 18 months and they've kept interest frozen with no hassle at all. They simply review it ever 6 months and write to me to say that they will keep it as it is and review again and so it goes on.
Maybe they are lying in wait preparing to pounce when I least expect it!Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free
Mortgage free since 20140 -
Deep_In_Debt wrote: »From what I've read on here, I've had a totally different experience with MBNA. they are my largest creditor and have been brilliant with me. I'm paying half of the minimum amount and have been for the last 18 months and they've kept interest frozen with no hassle at all. They simply review it ever 6 months and write to me to say that they will keep it as it is and review again and so it goes on.
Maybe they are lying in wait preparing to pounce when I least expect it!
D I D - it does seem strange, but i have seen accounts whereby the customer is getting constant hassle, and then others like yourself, who have a great arrangement/relationship ...... maybe its down to the rep (and how much they want in their paypacket)No Longer works for MBNA as of August 2010 - redundancy money will be nice though.
Proud to be a Friend of Niddy.
no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date0 -
Or perhaps I've slipped through the net and got away!!
Honestly, I owed them over 9k 2 years ago, about 7k now and I'm on a dmp with CCCS and I can truly say that MBNA have been great. They even wrote to say that they were re-structuring my plan to show on credit reference agencies that the minimum payment I was making was the minimum payment that they wanted that they would remove the default! How weird is that????
I've never had hassle from them, I get a letter every 6 months from them and that's it.
From what I've read on here and my ex oh's experiences with them, I think I'm very lucky but can't work out why as I owe them lots.Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free
Mortgage free since 20140 -
Strange they have agreed to remove the default ....... it can never be put back ...... i have given up trying to work out how MBNA operate - and as stated, I work there (so how any one else is meant to work them out is anyones guess)No Longer works for MBNA as of August 2010 - redundancy money will be nice though.
Proud to be a Friend of Niddy.
no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date0 -
It's even stranger that I didn't ask them to do it!
Maybe I got someone on work experience or something!Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free
Mortgage free since 20140 -
My experience is the same as D I D..largest creditor..but hav been really gd..TO DATE0
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thanks all for you replies. My relationship with MBNA has been rocky; at first a nightmare between them and the demon Aegis. Then it all want quiet, I was paying what I can afford, they explained that as they are American, they can only keep a debt if it will be paid off over a certain period - if the payments a customer is making means it would go over this time, they would sell it on. So, I had about 6 months to increase my monthly payments to approx £100 - I am currently paying approx half of this, in line with my SOA and other creditors, or they would sell it on. Fair enough. But then I get a call, 'if I could just pay £x more, they would keep my accounts for another month'. But what is the benefit to me, surely it will only delay them selling it on for a month. Forgot to mention, the guy was also keen for me to pay a lump sum of 70% to settle the debt. I have seen another thread that this is something they do often do, ie offfer to settle for a %, which has worked for some people who have had confirmation that they will not be pursued for the remainder. But funnily enough, I don't have £7k lurking under my bed....PS they have not issued a default yet, the first missed payment was March 09 but I have been paying as much as I can (not much!) every month.0
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