Got an MBNA C/C Written Off - March 2008!

Cashpig74

bert&ernie wrote: »

to the OP:
I dont want to pee on your parade, but are you sure they said "write-off", and not "charge-off"? You see, after 180 days, most lenders will automaticallu charge off an account - this means that they are realising the loss and charging it to their P&L account. It doesn't mean that they have given up all hope of recovering the money, just that they have to account for the fact that they no longer expect to collect the account. The can, and usually do, continue to take recovery action and this usually ends up with them selling the debt on to a 3rd party debt buyer.

Write-off and Charge-Off seem to be used interchangeably. Either way, they may well still pursue you.

Well, like i said, if this is the case then this is the case - but it was explained to me differently. We'll see if that does happen and if so then I shall complain even more so at the unbelieveable behaviour of misleading me even more.

i was told by the manager:
"It will be written off as bad debt"
Me - "so I wont have to pay back the money then?"
Manager - "no. we are closing the account."
Me - " I see, so I am not being asked to pay off the balance and the money will be written off as bad debt?"
Manger - "yes."

If there was a DCA going to be involved, do you think they should have made that clear at this point - clear that i would still have to make repayments??

NickX

PROLIANT wrote: »

The majority who do the right thing and repay their debt etc will suffer because of a growing minority of free-loaders.

I know we never agree on these type of issues, but Cashpig74 makes a valid point here. Getting £5600 written off for whatever reason (persistant complainant, invalid CCA, bad selling etc) really is a drop in the ocean compared to the massive salaries, golden handshakes and pensions set up by the likes of Fred Goodwin, James Crosby, Adam Applegarth and the like.

Those are the people who really do not have any morals, they have bled the banking systems that they were appointed to run for not thousands, or tens of thousands, or even hundreds of thousands, but for billions of pounds to pay for their own lives of luxuries. Surely these are the people to direct our anger at, not the man on the street who may or may not get lucky in finding their CCA is unenforceable and manage to save a few measly grand.

Cashpig74

PROLIANT wrote: »

So let’s just add to the national economic crisis and drive interest rates and prices up through fuelling the compensation culture?
The majority who do the right thing and repay their debt etc will suffer because of a growing minority of free-loaders.

Do the right thing? What's the right thing? There's a different between the right thing and your rights.

If its wrong, its wrong.

end of.

PROLIANT

So, what to do then, jump on the bandwagon and shaft the banks?
What next, the bloke down the street in the corner shop - you find a technicality in his terms for the delivery of your morning paper so you take him to court, sue him for a refund of all charges made to your Daily Mirror account, make him pay you expenses and then for him to pay all costs?
Where will it end, family and friends?

bert&ernie

PROLIANT wrote: »

Yes, Main-Frame technology is essential to the infrastructure to these companies, however cross-site replication must be in place for not only data redundancy but also security and propagation and analytics (Data mining)

Geographically Dispersed Parallel Sysplex - try saying that with your mouth full!

Fascinating, as it is, to trade technical terms, I still don't see what this has to do with whether you can access UK credit data in other jurisdictions though.

Cashpig74

Oh dear are you having a midlife crisis? If the banks do not stick to the agreement then you have certain rights.

If you excercise those rights - you should not be penalised for it.

If those rights did nt exist, you'd find that the banks would be shafting you far harder than you could ever imagine.

It is why the CCA 1974 exists.

LilacPixie

I am of the opinion that MBNA have probably 'written off' the debt for their own accounting purposes but the debt will still exist. You will still be chased for payment form either MBNA collections or some DCA.

I really cannot imagine why they would just decide to erase the whole amount simply because you complained about the terms used by some of their staff especially as they appear to not have recordings of those calls to prove or disprove your story.

PROLIANT

bert&ernie wrote: »

Geographically Dispersed Parallel Sysplex - try saying that with your mouth full!

Fascinating, as it is, to trade technical terms, I still don't see what this has to do with whether you can access UK credit data in other jurisdictions though.

Bert I am 98% sure as I have read it somewhere on the net, I will see if I can find the link, however I maybe wrong.

NickX

PROLIANT wrote: »

So, what to do then, jump on the bandwagon and shaft the banks?
What next, the bloke down the street in the corner shop - you find a technicality in his terms for the delivery of your morning paper so you take him to court, sue him for a refund of all charges made to your Daily Mirror account, make him pay you expenses and then for him to pay all costs?
Where will it end, family and friends?

Proliant I believe you work in IT.

I also work in IT and run a small business. If a representative from my company goes on site and does a bad job then I can get sued for more money than I have got. Basically if my business does not act correctly then I suffer. I am insured against this.

Why should the same principle not apply to the banks of which I am a customer.

You may not like it but we are living in a compensation culture, there is not much we can do about it.

PROLIANT

Cashpig74 wrote: »

Oh dear are you having a midlife crisis? If the banks do not stick to the agreement then you have certain rights.

If you excercise those rights - you should not be penalised for it.

If those rights did nt exist, you'd find that the banks would be shafting you far harder than you could ever imagine.

It is why the CCA 1974 exists.

Midlife crisis? No, not yet, havent even hit 30 yet.