Mbna!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

bigt777

Have been trying to sort a final settlement with them for couple of weeks now, sent them email last nite telling them i wasn't happy to settle unless they would mark my account on my credit file as "Satisfied in Full", sent me a reply back today saying because i didn't pay a £138 holding payment by 27th Feb (didn't pay it as they didn't send any written confirmation) that my account has now defaulted and is no longer with them but being transfered to a 3rd party!! Just when i thought i was getting somewhere this happens!! Is this usual practice? How will default affect my credit report? What difference wil 3rd party having my account make??

mixedupdebt

Hi bigt,

Just having one or two defaults won't really affect you. Having lots like I do will. But then it only affects you if you need credit.

As for the 3rd party - this depends on the type of 3rd party. If its a debt collection agency (they buy the debt for a fee from the lender) they may accept an offer or may push for the full amount depending on if they take a % of recovered debt. Alot of banks use 3rd parties that are owned by their parent group of companies - gives the impression that you are dealing with a different company (technically thay are but if part of the smae group, not really).

I think you can still deal with the original lender thou as they are who you took the money from to start with. Remember reading something on this at one stage but can't remember where. Perhaps someone else on the forum could clarify this point.

All the best.

bigt777

So much conflicting info on credit card debt on the web my head is spinning! Have just read that they cant issue a default without first serving notice, does anyone know if this is true? Have spoken to CCCS but as helpfull as the advisors are still get conflicting advice from different advisors, where is best place to seek advice?

tez1104

The CCCS are really helpful and unlike other firms they do actually care

Tixy

If you want the best free advice on the legal side of things then I think National debtline are very good.

Yes you should receive a default notice before its put on your credit file.