Help! Mbna

jdale1

Can anyone please help me! I owe nearly £6K on my MBNA credit card due to their crippling interest rate - 25% and late payment charges. I cannot afford the repayments and have contacted them several times to dicuss this with them but they are not being very helpful. I have offered to pay a certain amount each month (all that I can afford), which they have refused saying it does not cover the interested charges. I have had the card now for 5 years and only original put less then £2k on it at the very begining and have never purchased anything or used it since! 5yrs on and I owe more than I started. Does anyone know what I can do if the credit card company are not being co-operative?

skanger

You should get yourself over to the Debt free Wanabee board, those guy's over there will have more detailed advice on how to handle this.

You should contact someone like the CCCS http://www.cccs.co.uk/
they will be able to advise you (for free) on how to handle this. This is one of those situations where you are often better paying nothing or just a token amount which will force them to default you, thereby allowing you to have payments which you can afford agreed with the courts, and interest etc stopped.

Above all, don't panic, they stopped hanging debtors years ago.

jdale1

Thank you so much...I'll will go check it out now! :j