MBNA - Not sure whether to accept

Runnybabbit

Hi All,

Sorry for being out of touch of late, computer crashed and have had to borrow one in the meantime.

I have today received a letter from MBNA and I desperately need your advice. I have made a Full and Final offer which they are prepared to accept but on the only understanding it is a Partial Settlement. I have pointed out that this would still enable them to sell on the debt to another DCA, but they have stated they will not do so, although the wording could be better.

I need to know how this affects me and whether anyone else has accepted their terms and what was their outcome.

If anyone has any ideas on how to word a new letter to them, all help would be gratefully appreciated. Thanks in advance Babbit xx

**Amy**

I personally wouldnt accept their response and I wouldnt pay the amount.

It seems that it probably will come back to you in the future, and they can say that they did state it was only partial settlement.

I would try and get them to agree to a full and final settlement again.

x

RAS

Runnybabbit

Please do not accept this. Right now they may not sell it on but sometime inthe future you will find that whole rafts of old debts are sold.

Also the fact that it is only partially settled will sit on your credit record and affect that for 6 years.

Runnybabbit

RAS wrote: »

Runnybabbit

Please do not accept this. Right now they may not sell it on but sometime inthe future you will find that whole rafts of old debts are sold.

Also the fact that it is only partially settled will sit on your credit record and affect that for 6 years.

I did have the same doubts. The letter writer did say that he was not in a position to say satisfied in full on a credit file as this was against the law?

RAS

That is garbage!

have you done a CCA request on this account?

LilacPixie

nope I would not do it. I would actually probably reply stating that as the are unwilling to accept your F&F offer then that offer is now withdrawn. A letter from them accepting payment as a partial settlement but saying they won't collect is a contradiction in terms and one that they will exploit in years to come.

fermi

There are two different issues here.

Firstly you need to have it in writing that they accept your offer in "Full and final settlement". That is what will prevent them going after the remainder or selling it on.

BUT, how they agree to mark your credit reference files is a COMPLETELY different issue.

Marking your credit reference files as a "partial settlement" does not mean they can chase the remainder or sell it on.

The Information Commissioner states that it is acceptable for a creditor to mark the CRFs as a partial settlement after accepting a F&FS offer.

Because the phrases use are similar (but in different contexts) it leads to this confusion.

Runnybabbit

RAS wrote: »

That is garbage!

have you done a CCA request on this account?

CCA - I never did because I want the debt gone for good. Back in a mo and will type word for word letter writers 'garbage'. x

fermi

As you did in this thread: A possible breakthrough with creditor?

please run the wording of the offer past National Debtline.

Runnybabbit

fermi wrote: »

There are two different issues here.

Firstly you need to have it in writing that they accept your offer in "Full and final settlement". That is what will prevent them going after the remainder or selling it on.

BUT, how they agree to mark your credit reference files is a COMPLETELY different issue.

Marking your credit reference files as a "partial settlement" does not mean they can chase the remainder or sell it on.

The Information Commissioner states that it is acceptable for a creditor to mark the CRFs as a partial settlement after accepting a F&FS offer.

Because the phrases use are similar (but in different contexts) it leads to this confusion.

Thanks Fermi,

Yes we've been here before with HSBC if you remember. I think it may be a good idea to re-word my letter to them.

Thanks guys you are great. Will let you all know the outcome. x

RAS

hI

mbna are well known for not having the correct documentation on accounts, so it would have been worth asking for the CCA.