Sub Prime Credit Thread Part III

Parki_2

Oops too late ive already kicked up a fuss with Cahoot to close the account.

So your saying its best to leave the MBNA one open then?

never-in-doubt

Parki wrote: »

Oops too late ive already kicked up a fuss with Cahoot to close the account.

So your saying its best to leave the MBNA one open then?

ONLY if the status shows satisfactory with no late payments showing then yea, why not? Looks like you have a credit account - obviously the limit will be taken into account and could affect you getting it elsewhere.... TBH the companies are not instructed to move the data yet cos they can keep processing until 6yrs after last payment.....

You understand that now though don;t you mate? So upto you what you do, but could work in your favour/against you depends how you look at it.

wait and see what cahoot say before starting on mbna....

victor-meldrew_4

never-in-doubt wrote: »

woah mate - you mean an 'ex friend'?

If you just do a bunk then the bank will ask for repayment. However most banks will allow you to repay a set amount monthly, this would show as arrangement to pay on your CRA though. Not good.

Best is to just transfer a few hundred each month intothe account to keep them happy, to repay o/d I mean...

ex friend more like it.
i was going to fund about 200 a month if i have to do all this.i didnt think it would be enough.??could they insist on more.
its all hypathetical,but i like to plan ahead.
if credit file ends up trashed anyway then perhaps look at it different.

Parki_2

never-in-doubt wrote: »

ONLY if the status shows satisfactory with no late payments showing then yea, why not? Looks like you have a credit account - obviously the limit will be taken into account and could affect you getting it elsewhere.... TBH the companies are not instructed to move the data yet cos they can keep processing until 6yrs after last payment.....

You understand that now though don;t you mate? So upto you what you do, but could work in your favour/against you depends how you look at it.

wait and see what cahoot say before starting on mbna....

Well the MBNA doesnt have a DMP note on it, So could either close it or leave it, doesnt seem to make much difference.

never-in-doubt

victor-meldrew wrote: »

ex friend more like it.
i was going to fund about 200 a month if i have to do all this.i didnt think it would be enough.??could they insist on more.
its all hypathetical,but i like to plan ahead.
if credit file ends up trashed anyway then perhaps look at it different.

Hmmm I see what you mean regards to seeing things differently but PM me - dont make public if you want to be liked LOL

Anyway, i'd suggest that £200 is by far a good amount to repay over £6k debt..... why not get a loan for the £6k to pay the o/d - repayments wouldn;t be too bad and would be around £200 anyway!

never-in-doubt

Parki wrote: »

Well the MBNA doesnt have a DMP note on it, So could either close it or leave it, doesnt seem to make much difference.

I'd wait and see what cahoot say cos if they say no blah blah blah then mbna will say the same so best to see the outcome of cahoot.

If they remove it then leave mbna.

If they refuse to remove it, so what - just write and ask them to officially close the status. Likewise with mbna. This tells other lenders you managed the account and it is clear and closed.

never-in-doubt

victor/parki - are you on a thanks sabattical? You're well tight and never click it enough! LOL

Parki_2

I will start clicking it. I didnt know I was supposed to! I wont be tight anymore I will be Mr thankyou haha!

never-in-doubt

Parki wrote: »

I will start clicking it. I didnt know I was supposed to! I wont be tight anymore I will be Mr thankyou haha!

thanks! LOL....

victor-meldrew_4

never-in-doubt wrote: »

Hmmm I see what you mean regards to seeing things differently but PM me - dont make public if you want to be liked LOL

Anyway, i'd suggest that £200 is by far a good amount to repay over £6k debt..... why not get a loan for the £6k to pay the o/d - repayments wouldn;t be too bad and would be around £200 anyway!

ill pm if i need to.
potentialy the o/d would be a max of 4500,maybe less.goes up and down to credit.but obviousley may not go down if all goes wrong.
o/h could stay with them.but what if they suddenly call it in and empty her account.then all her creditors suffer.thats the problem in staying ,if they call in suddenly.
if she moves,every creditor is paid as is overdraft.but the credit file may get ruined.
dilema.
im clearing of searches for 4 more months .she has 7 months left on 4 year loan with her bank.
when your spare dosh goes it gets complicated.