CCA letter - what's the risk?

BPOno

Hi there

I'm considering sending a CCA letter to MBNA with whom I have a credit card, as I was late with a recent payment and they have put a default on my account. I don't remember ever signing a credit agreement with them (my credit card was originally with Halifax Internet who sold it on to MBNA some time ago).

My worry is this: I have a £12,000 credit limit with MBNA. Is there any risk that they might withdraw my credit card as a result of me "stirring the hornets' nest" by sending a CCA letter and/or asking them to remove the default?

I'm back on track with my payments, but there is no way I would be able to conjure twelve grand out of thin air. If there's a chance that they might suddenly reduce my credit limit to £0 as a result of my demands, I think I'll keep schtum.

Please advise!

milliemonster

No not at all, you have a legal right to view your credit agreement and MBNA could not penalise you for asking to see this

Burlesque_Babe

Why would you want to send a CCA request just because you have a late payment and they have put a default on? What is the history of your payments ie, are they justified in defaulting the account?

pepe2008

A default is a default, but only a default. Best leave well alone....why kick a sleeping dog?
I'm all for CCa'ing when neccessary...but where would it get you in this case?

if you are having overall financial problems then get in contact with CAB, CCCS or someone

oscar52

I wouldnt bother personally.

MBNA would have to request it from HBOS anyway as they never forwarded the CCAs to MBNA when they took over the accounts - there have been several takeovers by MBNA of HBOS accounts - the first being in Nov 04.

If this is just a single late payment, there is no need to worry about your credit file unless the payment was over 30 days late it wouldnt report on your file.

As for reducing/removing your limit, I wouldnt like to comment - it has been known for us (yes, I work there ) to to so without any cause and given they are currently having some difficulties (Im not sure what, but the rumours are going round) it wouldnt suprise me if they did.

BPOno

Thanks everyone!

I guess I'm wondering if MBNA have no record of my CCA agreement (and I've a feeling they don't, as my card was one of the charity Halifax ones on the internet), could I write off my entire £10k credit card debt by sending out the CCA letter (or some other way)?

I could do a balance transfer to a 0% card, but then I'd still be in £10k of debt.

Surely if MBNA don't have my CCA agreement any more, I can get them to close this account and I won't have to repay it? Am making massive payments every month, but it's barely chipping away at the debt!

Your thoughts, kind forum folk.

BPOno

any thoughts, anyone?

iceland_viking

BPOno wrote: »

any thoughts, anyone?

IM answering your question, although no doubt someone will berate me for it. If you request CCA when you have a default you have nothing to lose. If they cant supply you it, your debt is written off. If they stop your card and ask for their money back, you enter a payment plan, as they cannot force £12,000 out of you, if you dont have it, no court in the land can make you either. If you have a default, they may well close it anyway.

Above advice is based on my helping 8 friends in similar positions. I am in no way suggesting the outcome on the above, however all 8 accs failed to produce CCA and debt was written off.

Shelldean

sorry if i seem harsh, but you ran up the debt and now seemed to searching for a way to avoid paying???

iceland_viking

Shelldean wrote: »

sorry if i seem harsh, but you ran up the debt and now seemed to searching for a way to avoid paying???

but that surely is his decision is it not?