MBNA debt

scottygees

has anyone had a debt problem with mbna.My wife has £11500 she owes on a credit card. We have gone through Payplan who are currently setting up a debt management plan for her, I believe that MBNA are quite aggressive and may also put a charging order on property, has anyone got any experiences they wish to share with me.

davek1

don't know much about MBNA but i know they cant just put a charging order on your property without going to the court first and you can defend that. most courts will only allow it if there are no realistic proposals on the table to clear the debt. Additionally there needs to be equity in the property as the first charge (mortgage) always takes prescedence.

Having said that if they do put a charging order on the property you can still pay small amounts back reducing the amount owed and hopefully clearing the debt before you decide to move or sell up. It's not a case of them taking the property from you. Hope this puts your mind at rest

Dave

murphy2

MBNA are a nasty at times , they will call and write a Lot ( just set up DMP with CCCs ) They may offer wierd and wonderful payment ideas , but just stick to your own Budget and refer them back to payplan. Also token payments if you can manage it will ease the hassle. good luck .

Skintish

MBNA are a pain in the butt, however they are quite happy to be helpful if you can repay the debt over 10 years. In my case they have suspended interest and fees but to do this they require payments to be paid by standing order/direct debit. In your case this will be a payment of around £96 per month. Hope this helps.

wifeforlife

I have a debt with mbna, I found them very aggressive at the start, hounding me with phonecalls so I told them I no longer had a landline phone and no mobile, through payplan they freezed the interest and charges on my account and have agreed a monthly amount although I now pay them myself without payplan and have increased my payments by a few pounds and now they're very helpful and nice to me.

HTH
goodluck

Cath