MBNA - PLEASE HELP! Advice Needed

CannyJock

Pedders18 wrote: »

I just called up my branch, they dont open on a saturday and he said that I dont need an appointment as it is a major branch. He tried to convince me to do it over the phone, is that worth doing as I will struggle to get there during the week as Im always at work.

Cheers CJ, if this master plan doesnt come off, what other suggestions do ya have?

How's your toothache? Don't you have a nagging pain that kept you awake last night? Isn't there a local dentist who can fit you in at short notice if you can get an hour off work? Depends on the job, but I've always been happy to give an employee an hour off for "personal" stuff so long as they made up the time (or more than the time!) - allowing a late start or a longer lunch is preferable to time off in the middle of the day.

I'd always go for the face to face where you're in a situation that you need a bit of luck to be successful in the first place. There's a good chance it'll have to be appealed and knowing the name of at least a senior advisor in branch may be useful.

If you're turned down and have no luck with the appeal from your own bank then you're pretty much at the end of that line for 6 months. Living frugally and seriously tightening the belt while toughing it out to repay the cards is always an option. Overtime and an evening job can be useful too.

Fallback options would be things like www.zopa.com as a source of alternative finance. I don't think you're in a situation where you want to start looking at debt management plans or doing anything silly that'll screw up your credit rating long term. You're in a sticky patch at the moment that is only temporary.

Is there a reason why you're still on the mortgage or is it a case of waiting for the place to sell to clear the mortgage?

Pedders18

The reason I am still on there is otherwise I and the ex would be hit with a large penalty from the lender.

I prey that the idea works otherwise I just cant see how I will ever get out of it when I pay off £120 and £100 is used for interest, gutting!

Pedders18

Does using zopa ruin your credit rating? I have never heard of it before?

CannyJock

Pedders18 wrote: »

Does using zopa ruin your credit rating? I have never heard of it before?

Nope, it's just a loan provider like any other. Their site will give you the blurb on what makes them "unique and special"

They'll do a credit search and if they score you highly enough you can get funds from their "market", if that's not successful then you can try and get funds by putting up a "listing". There's a fee to pay for doing it but it's got the advantage that you can overpay and settle it early without any penalty as your circumstances improve.

Pedders18

Cheers CJ, thanks for the help, I just got a feeling that not even HSBC will touch me with a barge poll!

jamesd

You're not on the electoral roll at your current address so there's no point in applying at Zopa at the moment.

jpwjpw

If you bank with HSBC and your account has been in order with them, you should have no trouble at all applying for their credit card. You can do it through online banking, and the 0% offer will save you loads over its term.

Ritchie74

Also worth considering... If you have any joint finances with your ex (e.g. The mortgage), then their credit record would impact yours. Do you know whether they have any adverse credit ?