feel alittle worried

susieanne

I have a debt with mbna i have received a letter from capquest mbna have sold my debt to them .The letter said i had to phone them asap or they would go for legal action .They would not accept the payments that i was originally paying mbna which was £14 so with reluctance i have agreed to pay £20 per month .This is the bit that has confused me but i just wanted to get off the phone .He said i had to make a one off payment of £25 by the end of the month but if i didnt want to make this payment 1% interest would go onto my account every month so he said it makes sense for me to make this one off payment just so he can stop interest for 12 months .
I just wanted to know has anyone ever had any dealings with capquest how are they ? Has anyone ever made a full & final settlement with them what kind of % did they accept ?

rnb_3

susie,
firstly, does ur situation allow u afford the £20/mth.
i presume u are in default with this debt and on an agreement formerly with mbna.
how old is the debt, is it for a loan/cred card and roughly how much is it for?
have u got the original agreement or ever asked to see a copy thereof?
have u ever received anth like a Notice of Assignment from crapquest stating that they now own the debt?
have u received any other documentation regarding this either from mbna or CQ?
it seems like a typical bully tactic to get more money from u. NEVER speak to these people on the phone, they are trained to back u into corners, tie u up in knots and extract money u cant afford. its how they get their commission remember!!! dont complete the data protection quests, dont tell them its u, but do tell them any correspondence now needs to be in writing ONLY and put the phone down. if they continue u can write to them regarding the harrassment, stating that u are seeking their complaints procedure and that u will be sending letters to the regulatory bodies (they dont like that as they have to pay).
most of these places rely on these tactics to keep going so dont panic, talk is cheap.
regarding the F&F settlement, be aware that some of these companies pay as little as 10p in the £1 for these debts....be VERY careful with any wording of letters in this regard as often they will try for only partial settlement.
hope thats helpful.

shearm

I have agreed a settlement with my credit card company MBNA.(after months of hassel) I paid this settlement by bank transfer on the 24/09 the credt card company say the have not recieved it. They say the account is now in default and if money not in by 2 o'!!!! today they are selling it to a debit collector. What can I do I have sent them proof of payment? Where do I stand legally? help please!!

rnb_3

shearm wrote: »

I have agreed a settlement with my credit card company MBNA.(after months of hassel) I paid this settlement by bank transfer on the 24/09 the credt card company say the have not recieved it. They say the account is now in default and if money not in by 2 o'!!!! today they are selling it to a debit collector. What can I do I have sent them proof of payment? Where do I stand legally? help please!!

hi shearm,
well u clearly have proof that it has been paid which u can provide. id suggest getting a copy if u have it or from the bank and emailing it to them, get a name and number to deal with. them saying they will sell the debt at 2pm is highly unlikely. what paperwork do u have from them stating that this payment will settle the debt?

Plaitey

I had threatening letters from MBNA as well when I faced up to being in Debt and needed to start to get a grip. They send these letters to frighten you and you shouldn't really agree to anything with them unless you can afford it. They thrive on usng bullying tactics until you agree. I strongly suggest going to/phoning the CAB/CCS/Payplan (not commerical debt management companies who charge fees) and talking to someone and complete a budget calculator to see what cash you actually have available to pay your debt.

Good luck

gfplux

Hello suzieanne,

Is this your only debt, have you had your light bulb moment?

Why not make out your SOA and post it here. (link - http://www.makesenseofcards.com/soacalc.html ) This will automatically total the numbers. It can be saved (click on the help) and you can change it every day if you want. When making out your SOA (Statement Of Affairs) try not to guess at the figures, dig out the paperwork! However remember a partial completed one is better than none.
It is in fact one of the most IMPORTANT things you will ever do to start on the road to recovery.
If you want a lot of help on this forum, posting your SOA is the first and most important step. After it is done it is very easy to keep it up to date.
In my opinion everyone should have an up to date SOA even if you have little or no debt. It is a great tool to manage your life with.


If you post it on the forum answer the obvious questions before they are asked so you get immediate feedback, such as :-
If there is “other” Income explain what it is
Mortgage – interest only or not.
What is the age of any children.
Council tax is it over 10 or 12 months.
Electricity and gas any arrears.
Water rates meter yes or no.
Mobiles, how many and when are the contracts up for renewal.
If no contents insurance is it include with buildings insurance.
If pets cost money, what are they.
House or flat value, has it been valued by an Estate Agent and when.
The more that can explain about the financial figures and circumstances the quicker the post will get advise rather than lots of questions.
When you have posted it and it does not look right or you want to change it, do so and repost it.




Good Luck