mbna full & final settlement

susieanne

I am looking to offer MBNA a full & final settlement figure i owe £2400 what in peoples experiences do you think MBNA may accept ?

fatbelly

MBNA routinely offer settlement at around 33% before they sell the debt on. If your account is getting to that stage then I would suggest making an opening offer of 30%. I don't think they will go below that.

susieanne

fatbelly wrote: »

MBNA routinely offer settlement at around 33% before they sell the debt on. If your account is getting to that stage then I would suggest making an opening offer of 30%. I don't think they will go below that.

Thanks for the reply so what would figure would that be ? sorry im no good at maths

fatbelly

If you're no good at maths, get a calculator!

£30% is 0.30 x £2400 = £720

Deep_In_Debt

Hi
I'm rubbish at maths but think that 30% works out roughly at £720. I'd start even lower and see what you can get away with.

Make sure you receive everything in writing and you pay nothing until the offer is received in writing and that your credit file is marked as "satisfied" and that they, nor any associate or third party will chase you for the remainder in the future.

National Debtline has a good template letter you can use.

Good luck.

susieanne

fatbelly wrote: »

If you're no good at maths, get a calculator!

£30% is 0.30 x £2400 = £720

Thanks for the tip i will do that ,i wonder if they sell calculators in the £ shop

averageguy11

Be interesting to know how you get on...ive had no reply to a letter I sent offering f/f 3 weeks ago.
They will get one more chance when I will stipulate a date to which they must reply by...if none i will move on to someone else.

dvs

I'd be interested to know how susieanne and averageguy11 got on with MBNA.

averageguy11

last week i actually gt a reply from them...yippee...a form to fill in boo.
its been sent bak..i'm now waiting for thm to reply..thy've actually gt a 'partial settlement'' dept

dvs

averageguy11 wrote: »

last week i actually gt a reply from them...yippee...a form to fill in boo.
its been sent bak..i'm now waiting for thm to reply..thy've actually gt a 'partial settlement'' dept

Thanks for the update. Not surprised that MBNA took almost two months to respond. I suspect they're very busy!

Were these forms income and expediture forms by any chance?

averageguy11

Yep. plus a bit more info...like wher money is coming from..how u got into debt etc.