Mbna min payment change!!!!!!

Raksha

OH and I have had this letter each this morning. Curious thing is we've both entered into a DMP which MBNA (not surprisingly) haven't accepted.

BUT - both letters say 'At time of writing, your monthly payments were showing as up to date' which they aren't (we missed Jan's payment due to not getting the DMP set up in time)

Rochdale_Guy

Well done daveyh9 :T

When I rang, they didn't want to know because I already was, and have been paying the minimum monthly repayment each month (by D/Debit) and not missed any payments. They only help those who can't pay the minimum. Well, I can't now I'm paying £100 a month yet they charge £105 INTEREST every month.... but I wouldn't just cancel the Direct Debit, I'd be scared to. I don't EVER want people knocking on my door demanding money

Sorry for taking over this post iceage3 by the way, my apologies.

iceage3

Thats ok rochdale,i am such there will be more threads on this on other posts.

Rochdale_Guy

It's as if they want people to miss a payment so some perverse "NON PAYER" flags up on there system. Like I said, I have a D/Debit set up to take the minimum repayment each month, and because of that, they won't help me as I AM making the minimum payment.... how bizarre that if they didn't get that off me, they can label me as a bad payer then maybe help... I just don't get how the human touch counts for nothing nowadays

And I know they are out to make money and are not a charity before anyone jumps down my throat.

riazmb

Got this through the post today too. I had a quick look at how long it would take to repay debt if you paid the minimum 1%, I think it was around 30 yrs!

chattychappy

riazmb wrote: »

Got this through the post today too. I had a quick look at how long it would take to repay debt if you paid the minimum 1%, I think it was around 30 yrs!

They want to make out that they are somehow doing society a great favour by helping people pay down their debt quicker with less interest in the process.

But of course people have always been free to pay 1%, or 2% or as much as they like beyond the minimum.

Also it's slightly silly - most people don't make a single transaction which they pay down 1% a month over decades. Most people put new transactions through.

In the end it takes away choice. It also diminishes the value of people who have taken up deals with an upfront fee (eg 5% fee + 0% for 12 months, 4.9% LOB deals etc).