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Advice needed PLEASE!
eiluj321
Posts: 16 Forumite
Hi everyone,
Wonder if you can give me some advice for a friend...My friend has a credit card with MBNA he owed £35,000 but has had to give up work due to a disability, he is also going through a very difficult divorce....4 months ago he agreed with MBNA to settle his credit card on a full and final settlement for £9044.00 he has paid off £800 per month for 3 months, but unfortunatly funds have run dry and until his benefits are sorted and divorce is settled he cannot afford to pay at such a high rate, He has a letter from MBNA agreeing the £9044 and he has another letter from MBNA saying that he still owes £7444 but neither of these letters state the amount he would have to pay each month or a set time to clear this amount
MBNA are now getting quite nasty insisting that he needs to pay another £800 this month and if he pays any less then the full and final settlement amount will be nul and void, the account will be sold on and the money he has paid will just come off the £35.000 debt.
What I need to know is could he get away with paying a smaller amount each month (i.e £10) for approx 3 months until he gets himself together again. Is there anything that he could quote in writing to give his letters a bit more "weight" . He by no means is trying to shirk his responsibility of paying this card but he has all the odds stacked against him at the moment.
Any advice gratefully received!
Many thanks
Julie
Wonder if you can give me some advice for a friend...My friend has a credit card with MBNA he owed £35,000 but has had to give up work due to a disability, he is also going through a very difficult divorce....4 months ago he agreed with MBNA to settle his credit card on a full and final settlement for £9044.00 he has paid off £800 per month for 3 months, but unfortunatly funds have run dry and until his benefits are sorted and divorce is settled he cannot afford to pay at such a high rate, He has a letter from MBNA agreeing the £9044 and he has another letter from MBNA saying that he still owes £7444 but neither of these letters state the amount he would have to pay each month or a set time to clear this amount
MBNA are now getting quite nasty insisting that he needs to pay another £800 this month and if he pays any less then the full and final settlement amount will be nul and void, the account will be sold on and the money he has paid will just come off the £35.000 debt.
What I need to know is could he get away with paying a smaller amount each month (i.e £10) for approx 3 months until he gets himself together again. Is there anything that he could quote in writing to give his letters a bit more "weight" . He by no means is trying to shirk his responsibility of paying this card but he has all the odds stacked against him at the moment.
Any advice gratefully received!
Many thanks
Julie
0
Comments
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get him to call National Debt Line for advice.Cats don't have owners - they have staff!!
DFW Long Hauler Supporter No 1500
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