MBNA full and final settlement

alby1

Recently offered £8500 as a full and final settlement on an outstanding balance of over £16000 with MBNA.

It was declined but after I explained again I had barely no disposable income per month they decided to review my case.

Should get an answer tomorrow or monday

What do you reckon? Will they accept?

Anyone out there have any similar outcomes

Awaiting anxiously.:mad:

nickmack

alby1 wrote: »

Recently offered £8500 as a full and final settlement on an outstanding balance of over £16000 with MBNA.

It was declined but after I explained again I had barely no disposable income per month they decided to review my case.

Should get an answer tomorrow or monday

What do you reckon? Will they accept?

Is this a credit card? Have you defaulted on payments? Are you paying anything towards the debt now?

Usually a company would only accept a lower offer as full settlement if they'd seen evidence you had no chance of paying the full amount owed.

alby1

yes credit card

defaulted last month on £420 minimum payment!!

exel1966

I'd be amazed if they accepted based on one defaulted payment.

Remember that any settlement figure agreed will have a major impact on your future credit worthiness unless done 'without prejudice'.

nickmack

alby1 wrote: »

yes credit card

defaulted last month on £420 minimum payment!!

I think you should look at the Debt Free Wannabe board and consider posting your details on there.