Urgent Advice Needed Please

Runnybabbit

Hi all,

Firstly many thanks for taking the time to read this post.

I am in desperate need of any legal advice with regards to MBNA. I have been negotiating with a particluar person via email in respect to a Full and Final Settlement. We have been going round in circles, as usual, but today was the final straw and they have gone back on what we agreed.

I stated in my email that the offer was ONLY MADE AS FULL AND FINAL and NOT Short or Partial Settlement, which is what they wanted.

THEY ACCEPTED the financial offer, which I still have the email for, and their wording read, "we accept your offer as detailed below" which obviously included the Full and Final offer.

At that point I asked for it in writing, sent via postal method, never received a reply so emailed again asking for it. The email I have just had back states that they will only accept partial or short settlement :mad: :mad: :mad: .

So yet again, we are back to square one, even tho they agreed to it!!!!.

I really don't know what to do for the best now, anybody have any suggestions please - really need some help.

Loads of thanks
Babbit x

RAS

Babbit

Based on a post by fermi, there are two things

Full and final settlement, which means that they agree not to pursue the debt any further.

What they mark on your credit record. The OFT accept that it is OK for a creditor to mark a full and final settlement as Partial settlement, as that is what it is.

Are these getting confused?

Runnybabbit

Hi RAS,

Thanks for the reponse. I made the offer as a Full and Final only, then agreed that they could mark the credit file as Partial Settlement, as they said it was illegal to mark it any other way. They know and I know the difference of a Short/Partial Settlement and a Full and Final, they are just trying to make me accept something which we did not agree on. Does this make any sense?

Deep_In_Debt

I've heard that MBNA do this a lot. As far as I am aware, it is not illegal to mark it as Full and Final. Typical MBNA tactics!

Sorry can't be much help on this. Just having a rant about MBNA.

RAS

HAve you done a CCA on them for this debt? Is one appropriate?

Runnybabbit

RAS wrote: »

HAve you done a CCA on them for this debt? Is one appropriate?

All above board mate !!!!! so CCA not an option in this case.

DID - I take it you have had dealings with MBNA too?. So what I need now is something rather clever ie, in the form of Law issues etc, to send to them advising them of their 'mistake'

xx

fermi

Well, the Information Commissioner's themselves state that:

Where the lender has accepted as part of a negotiated settlement a payment that is less than the outstanding amount and the customer has agreed as part of the settlement how their credit record will be affected:

In these circumstances, we understand a lender may be reluctant to mark the entry as ‘satisfied’ or ‘settled’. However the entry must record the position adequately, for example, by showing that no further monies are expected and the account was partially paid.

MBNA are reluctant, but it is not illegal. :rolleyes: Muppets!

You need it in writing (not email) that the payment is accepted as a full and final settlement.

That is the absolute bottom line, and you shouldn't acccept anything less.

Whether the credit reference files are marked as "settled" or "partially settled" is to some degree a secondary issue.

frazzmunch

hi, can i suggest that you post on the consumer action group website....they seem to have a lot of very clued up legal people on the site (i'm not saying that there aren't lots on here too!!) who are very au fait with stuff that i still don't have a clue about!!:rolleyes:

i have also had dealings with mbna...i am not impressed but what can i say...i am not the only one!

good luck with your quest for full and final...personally i would write to them, include print outs of all the emails and ask if they are willing to look at your offer again...(would find out legal stuff first though!!)

Runnybabbit

Thanks Fermi

I have done everything that they asked. But to now state that they will now only accept Partial/Short Settlement is beyond belief!!.

Frazzmunch - is this Consumer Action Group on this website? Sorry for being an idiot and asking such a stupid question. xx

I shall give it a go and see what happens

Runnybabbit

fermi wrote: »

Well that is probably just plain incompetence from MBNA. :rolleyes:

As painful as it is, you need to persevere until you get the correct offer in writing.

Consumer Action Group is a separate site here.

I can't see me ever getting it now as their emails are now becoming very abrupt, even though I point their stupid nose's to the paragraph where they have accepted it !!!!!!!.:mad: :mad: They have also stated that if the money is not there by the end of the month they will sell the debt on to a DCA. Funny that isn't it, when I have a letter to say that they don't do that kind of thing.

Consumer Action Group - will give them a go

Thanks
Babbit x

frazzmunch

runnybabbit, i do hope you get this sorted...sorry i couldn't give you a link for the cag...i am really useless at stuff like that!!

Fermi...thanks for posting the link...good job we have people who are competent here...if it was left to people like me this website would be nowhere near as good!!!:rolleyes: