mbna full & final settlement

fatbelly

averageguy11 wrote: »

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

Actually they're just fishing to see if a ccj followed by bailiffs/charging orer/third party debt order would produce a better outcome that selling it on or doing a F&F with you.

If you just present them with the options of £720 now or £1 per month for 2400 months that may concentrate their thoughts.

They should already know that the F&F money is being paid by your grandad, you have no assets or property and are overdrawn at the bank!

Arlen

susieanne wrote: »

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

No need for a trip to the pound shop. You are on a computer! Almost every operating system has one built in.

averageguy11

or maybe not fatbelly

averageguy11

Letter from MBNA today...accepting offer of 35% ....Wording is satisfactory to me....apart from no mention of selling/passing on balance of debt to 3rd party...so not quite sorted yet.

fatbelly

Hi

Just bear in mind that they don't hold the offer for more than a few weeks - then they sell the debt on to a third party and you have to start again with that dca.

In this instance it might be worth a phone call to see if they'll add that phrase to their letter.

I know we always distrust creditors but I've known a few people do these deals with mbna and they've all been fine.

dvs

averageguy11 wrote: »

Letter from MBNA today...accepting offer of 35% ....Wording is satisfactory to me....apart from no mention of selling/passing on balance of debt to 3rd party...so not quite sorted yet.

Thanks for updating us. Did they agree to either marking the payment as satisfied in full or removing the information from the credit reference agencies?

averageguy11

Partial settlement...which i will accept and offer valid for 21days.

insideinfo

I wish i saw this earlier. MBNA (chester) are selling debts off at 12p in the £1.

They are routinely accepting offers as low as 12%. MBNA and in a precarious position right now. Start at 20% and haggle. I have seen three seperate written offers at 17% in as many weeks.

rog2

averageguy11 wrote: »

Partial settlement...which i will accept and offer valid for 21days.

Be very careful about accepting 'partial' settlement. You may think this is okay, but this forum is full of people who 'thought' they had settled their debts, only to find, often after several years, a debt collection agency chasing them for the 'balance' of the debt.
Before anyone accepts what they may think is a 'Full and Final' settlement offer from any creditor/dca, please read the National Debtline factsheet on F&F Settlement Offers:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

And, never make any payment until the creditor/dca has confirmed, in writing, that it will be accepted in 'Full and Final Settlement'.

dvs

insideinfo wrote: »

I wish i saw this earlier. MBNA (chester) are selling debts off at 12p in the £1.

They are routinely accepting offers as low as 12%. MBNA and in a precarious position right now. Start at 20% and haggle. I have seen three seperate written offers at 17% in as many weeks.

Do you work for MBNA? Or perhaps in the industry?