MBNA CCA Update - Advice wanted

hbslc

In mid 2008 I sent the standard CCA1, 2 and 3 letters to MBNA. They banked the £1 cheque but used it to reduce the balance. After the CCA3 letter they appear to have sold the debt onto Link Financial. I heard nothing from Link Financial until a few weeks ago when they sent me an annual statement.

What is the next stage of pursuing MBNA to write the debt off, reclaim charges, etc??? Thanks

RAS

What sort of account was this?

GeorgeUK

Under the Consumer Credit Act Amendments 2006, it is required that all accounts that fall under the CCA74 legislation receive a statement at least one a year.

The debt will never be written off, but right now it seems to be unenforcable. After 6 years (5 in Scotland), if no payment is made and you do not write acknowledging that the debt is owed, it will become statute barred (still only unenforcable but will be even if they can provide an enforcable CCA).

You should be able to reclaim charges irrespective of whether the debt is in dispute or not.

hbslc

It's a credit card. Does this still mean I can reclaim charges? What is meant by charges? Also, must they actually pay me the charges rather than reduce the disputed debt? What about interest? Presumably they've charged me interest on their charges?

GeorgeUK

Yes, you can reclaim charges and interest from them. As this is for a credit card, the current test case in the house of lords will not effect this claim.

Have a look at the reclaiming board for more details. It's been a few years since i've looked at this.

They would take the amount off the debt if it is still held by them and the DCA is only acting on their behalf. If it has been sold, then they should give you the money. They shouldn't have passed the debt on to a 3rd party while the debt was in dispute though.

hbslc

So I should first clarify who owns the debt so to speak?

GeorgeUK

I don't really think that would be necessary. If they still own the debt, the amount due will decrease, if it's been sold, the money will come to you. Either way both are in your favour.

hbslc

Since the earlier posts I have received 2 annual statements from Link Financial Outsourcing Ltd, claiming that they were assigned in June 2008.

I still haven't recieved a CCA, haven't made a payment, and haven't acknowledged anything.

How do I get the default removed from my credit file and all charges refunded?

PNPSUKNET

hbslc wrote: »

Since the earlier posts I have received 2 annual statements from Link Financial Outsourcing Ltd, claiming that they were assigned in June 2008.

I still haven't recieved a CCA, haven't made a payment, and haven't acknowledged anything.

How do I get the default removed from my credit file and all charges refunded?

you have to wait 6 years from the default date, at the end of the day you did default.

hbslc

Surely not, they haven't provided the CCA as requested. Therefore, I should be able to get the default removed from my credit file and all charges refunded?

DarkConvict

No, the default will stand. This has been to the High Court in Dec 2009.

The OFT agrees that the money is owed, but the agreement cannot be enforced in court. Basically no CCJ or court action is allowed. However they can still mark the credit file with defaults/late payment in accordance with the T&Cs and the Law. And they can ask for payment, issue debt collectors and sell the debt to a 3rd party. The key is they can ask for payment just not force it.

If you want to reclaim charges you will be acknowledging the debt, you can't have it both ways on that account. Although you could seek to reclaim with payment by cheque so you can put it where you like, then start waiting 6 years ago.

The CCA route is only good if you do not care for your credit file.
if you really want it removed the only way is if the creditor removes it, and the only way that is known to happen is if you make a Full and final settlement with the requirement the default is removed. Creditors do not always agree or may ask for a high settlement figure.