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virgin credit card
Dav2
Posts: 1 Newbie
in Credit cards
Help please
I owe just over £6,600 on a virgin (MBNA) credit card. I have been paying a nominal amount over the last 6 months.
Yesterday a letter arrived informing me that they where about to issue a default notice and sell my debt onto a third party.
I rang them this morning and they offered that if I was able to pay a lump sum of £2,000 they would accept this as full payment of the debt and record on my credit file that the debt was partially paid.
I have asked them to put this in writing before agreeing.
Does any one know whether this is standard practice and what effect this will have on my credit rating.
I have never had any CCJ's, Default notices before.
Thanking you in anticipation
Dav2
I owe just over £6,600 on a virgin (MBNA) credit card. I have been paying a nominal amount over the last 6 months.
Yesterday a letter arrived informing me that they where about to issue a default notice and sell my debt onto a third party.
I rang them this morning and they offered that if I was able to pay a lump sum of £2,000 they would accept this as full payment of the debt and record on my credit file that the debt was partially paid.
I have asked them to put this in writing before agreeing.
Does any one know whether this is standard practice and what effect this will have on my credit rating.
I have never had any CCJ's, Default notices before.
Thanking you in anticipation
Dav2
0
Comments
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It seems a good deal in financial terms, however it will adversely affect your credit rating as partially paid means what it says.0
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when you say nominal amoun - do you mean an amount less than the minimum payment each month?0
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