mbna Credit Cards

parmos

hi i wonder if anyone could shed some light over here, i have 3 yes 3 mbna credit cards no1 £8000 no 2 £6000 no3 £400 2yr ago i defaulted on them and now we have a payment plan on them card no1 £115 per month card no2 £100 per month and card no3 £20 per month i have payed these sums with no problems for the last 2yrs at the time off default they said i could of payed them 40% of the debt they would accept it but i didnt have that kind of money so went on a plan last year i rang to clear of the smaller debt and they said we dont do a settlement you make us a offer so i picked the guys brains and he said anything up from 30% he would accept so i thought a few more payments then i will ring back and give them a offer so i did so over xmas time i rang them with a offer and the guy was very different obvoisly a different guy and he said that i was on a good deal and that he would only be able to do a settlement of which was only slightly less than i owe so i thought sack it i will just keep on paying it is not incuring any interest so why bother paying it off.
is this the case or shall i ring back again and see what happens

DarkConvict

Don't ring, send written letters.

Edit the letter below just to add in, with reference to the telephone conversation in December, here is my written offer

http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

Mr A N Other
1 High Street,
Newtown,
Kent
R21 4RH
February 24, 2010

The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG

WITHOUT PREJUDICE:

Dear Sir/Madam

Re: 4563210025897412

We write with reference to the money which you are claiming on the above account.

We can confirm that we are unable to offer to pay the money which we owe in full.

However, I can raise £_____ and I want to offer this an ex-gratia payment in full and final settlement of the
account. This offer is made on the clear understanding that, if accepted, neither you nor any associate
company will take any other action to enforce or pursue this debt in any way whatsoever and that we will be
released for any liability.

We also request that, if accepted, you will make an entry on a credit reference agency file relating to the above
account as "satisfied" in full.

Payment can be made within 2 weeks of receiving your written agreement of this offer and method of
payment.

We look forward to receiving your reply. (add in a deadline usually 14 days from date of letter)

Yours faithfully

Mr A N Other