Default Notice -What do I do next?

dadooronronrondadooronron

Hello

I have previously posted about MBNA and constant letters and default notice threats. I have been paying reduced payments last few months and have constantly sent them letter explaining reason for reduced payments with offer to pay (standard letter from CCCS) and I have informed them that I will hope to review in 6 months.

Have submitted financial income/expenditure form and today have received default notice saying that they acknowledge my difficulties and I have 17 days from date of letter to either pay arrears (can't do that) and says that will then be passed onto their debt management team.

What do I do next? I will be able to pay arrears in January as I will have some cash available then but nothing until then. Is there anything I can do to stall this default notice from going on my records for 6 years. I will be able to pay all arrears in January and then hopefully resume full payments. What is best course of action?

thanks

DarkConvict

As you are already behind on payments by doing reduced payments, your credit rating is already taking a hit, whilst a default will make it worse i do not believe there is anything you can do from stopping it, as you are in default of your contract to make minimum payments at the time they should be made.

Have you considered the CCA route, to see if they have an enforceable CCA, if they don't you can place them in default which will stop them placing your account in default. Under i believe S.78 of CCA 1974 if they are in default they cannot place defaults or pursue for collection.

dadooronronrondadooronron

I keep seeing threads about this CCA and letter templates about it too but to be honest I don't really understand it and whether it applies to me

I don't dispute the debt - I definitely spent that money:o. I just need a few months of lower payments to get my act together and then I will also get my hands on some cash in January which will enable me to clear the backlog of payments.

Once I have done that my plan is to pay off as much as I can each month - above the minimum - and definitely not use the cards - I have cut them all up now.

With this in mind does the CCA route apply to me - or is it just if I am disputing amount owed

Thanks for all advice

GeorgeUK

I think the only thing you can do is write to them stating that you are aware that you are not maintaining the agreed payments, but if they are willing to suspend issuing the default will be able to repay the arrear and resume full payments in January. You understand that they have a right to issue the default but hope that they will be able to show some leniency which will enable you to get the account back on track.

I don't think you ahve anything to lose by trying.

dadooronronrondadooronron

Hello - Why didn't I think of that !!

I guess I just assumed they would think I was blagging about paying in January - but as I have made all reduced payments on time and amount I have stated and prior to that I have always paid up then maybe it is worth a try. thanks - will see what happens

DarkConvict

GeorgeUK has given some positive advice there, and is worth following up.

The CCA, is a legal request that costs £1. They are required within 14 days to provide you the credit agreement you signed. If they fail to do so, they are in default and as such cannot issue a default against you. It is not disputing the debt although some people do go down those lines, and since it can't be enforced wait 6 years for it to disappear.

But quite rightly, you intend to pay this but are just unable to do so at present.

p.s. is typing in your username to login a bit of a chore to remember?