MBNA - Urgent Help Needed

RAS

MrXYZ123 wrote: »

UPDATE:

She said i need to phone my mortgage company and all other lenders to ask if they can reduce my payments so i can pay MBNA..

No, your mrtgage is a priority debt.

MrXYZ123 wrote: »

I am paying all other bills and creditors, just not MBNA. Mainly due to the fact that all my hosusehold bills are essential and all other credit card bills are minor compared to MBNA.

She also said that if i go on a reduced repaymet plan, i have to do this with all other credit companies and i am unable to use any other credit available to me.

Is she telling the truth?

yes, you are supposed to pay each creditor pro-rata. You are not allowed to favour any unsecured creditor, which you have bene doing, nor are you allowed any additional credit. With a default, in the curent climate that will not be an option anyway.

MrXYZ123_2

Thanx for all your help.

Is there anyway i may be able to just contact credit card companies and agree to pay smaller ammounts.

For example, i currently pay Lloyds £110 pm, Natwest £70 pm, and Barclay's £20 pm.

The Barclays minimum payment is £6 so not fussed about that. The other payments above are the minimum.

Do you think i would be able to agree a deal with all the above (including MBNA) where i pay MBNA £50 per card, and Lloyds and Natwest £50 each?

That way the outgoings are similar, but i pay all creditors.

Would any of the lenders be open to this without me having to go on a reduced repayment plan or any of the other plans they always force you onto?

RAS

Soory but if you are paying more than the minimum debts Why are you NOT paying MBNA, which is probably your most expensive creditor.

YOu pay most to the most expensive creditor.

Go look at the snowball on www.whatsthecost.com and se what you have been doing wrong.

Put in your current monay payments and then see what happens if you pay all the minimums.

And do post the SOA, because until you do that, we cannot ell you if you should be doing a DMp or not.

MrXYZ123_2

I am only paying more than the minimum on the Barclay's (about £24 more than i have to).

Both MBNA cards have minimum payments of £170 and £200 so it's not as if i could manage them regardless of what i pay Barclay's.

I am in the process of filling out the IAE.

I have just spoke to Payplan and they feel they may be able to help me with just MBNA so i don't have to contact other creditors.

Here's hoping...

oscar52

MrXYZ123 wrote: »

UPDATE:



She told me that i have to phone back with my income and expenditure each month. I said i have been informed to do this by post but she said by time i send it to them and they go thru it, it may be too close to the 6 month deadline period. This is a lie - their turnaround is much quicker

She asked me to consider an MBNA loan (yeah great, let me just move my debt rather than solve it) which i refused to do. MBNA dont do loans (but will very helpfully point you in the direction of a company offering a secured loan to your house)

She said they may be able to put me on a reduced repayment plan but they need a full detailed explanation of all my other creditors, how much i owe and why i have been paying all others apart from MBNA. Wow, something thats true

She said i need to phone my mortgage company and all other lenders to ask if they can reduce my payments so i can pay MBNA. As stated, mortgage takes priority

I am paying all other bills and creditors, just not MBNA. Mainly due to the fact that all my hosusehold bills are essential and all other credit card bills are minor compared to MBNA.

She also said that if i go on a reduced repaymet plan, i have to do this with all other credit companies and i am unable to use any other credit available to me. another truth!! what is the customer assistance dept coming to

Is she telling the truth?

I am coping fine with my other bills and debts, so why should i have to inform them that i am strugling with MBNA. Seems wrong.

Any advice would be greatly appreciated.

PS - I work for MBNA (just not the debt collecting area which is full of idiots who do what manager tells them)