Help Please with confusion about F&F payment

TakingControl

Hello

I agreed a F&F with MBNA (I am on a DMP) and they accepted as long as I would pay the amount (£5860) by the 21st Feb 2011. I paid on the 17th Feb 2011 by debit card and have a payment reference. The sum also showed as ear marked on my bank account.

Today I checked and to my suprise the funds have been put back into my account. I rang MBNA and they confirmed that the received my funds and the remainder of the balance will be written off and confirmation letter will be in the post in next 7 days. So I rang my bank and they stated that MBNA have earmarked but not completed the sale transaction and now the transaction has disappeared at my bank. They advised me to speak to MBNA again as they must have an issue with their system. :eek:

Duly rang back as I am now worried that its past the 21st Feb 2011 and have spoken to them again explaining what my bank told me and they are still adament that they have taken the money and all is well. I mentioned the agreement and they said all is fine and should this turn out to be a mistake, its on record that I logged an investigation. They advised to wait till Friday this week if the money is still in my account as available, to ring them again.

I am now confused to say the least and worried that this will affect the F&F agreement. Is there anything else I can/should do? I have the names of the people I have spoken to just in case.

Anyone else had this kind of thing before?

ellesbellesxxx

Bump Bump Bump

TakingControl

They still haven't taken the money :eek: Anyone had something like this happening? I am still waiting on the written confirmation that all is done. So what would happen if they confirm receipt of the funds, closure etc of the account and they stilll didn't debit my account? Could they come asking for it weeks/months later?

GeorgeUK

I would give it until the end of next month, then write to them stating what has happened. I would be more comfortable having something like that in writing.

If they still didn't take the money, but confirmed that the debt has been settled, i would put the money into a high interest bank account and keep it there until either they request payment or 6 years have passed in which case the debt will have become statute barred.

You would have done everything that you were meant to do, but i guess the bottom line would be that they were still due the money and a judge may see the debt as being outstanding.

Fez88

I had a similar issue back in December. My payment due date was 25th December so I'd paid by debit card on 22nd December. The money showed on my account as ear marked until 26th December when the transaction disapeared from my online banking and no money had been taken! So I rang MBNA worried that I'd have a late payment, they told me that they'd recieved the funds and that their system sometimes takes a few days to add it to the account. Needless to say I checked online once a day and it wasn't until the 30th December that the payment appeared on my MBNA online account. The funds showed on my bank statement as being debited on 30th December although my MBNA statement showed payment was recieved on time on 25th December.

I'm not sure how their system works or whether it was just a glitch because of Christmas etc but everything worked out OK in the end so I'd try not to worry about it too much.

TakingControl

Thanks for your info. Fez88 - I am only panicking as the F&F offer means no default and the accout is settled which means one less creditor on my DMP.

So far the money is still in my account, I will ring again on Monday

TakingControl

The mind boggles on this one :shocked: The money still has not been taken out of my account and I have just spoken again to MBNA who have actually confirmed a letter is en-route to me and a statement confirming 0 balance and that my account is closed.

They confirmed they had the authorisation code and that the funds cleared in their account the day after the debit card transaction and they suggest I speak to my bank to investigate where the money has come from. I did do this first and they told me MBNA did not debit the money from my account.

So once I am getting the letter and statement from MBNA, I will go to my bank and if they are still adament the funds were not debited by MBNA, will ask them to put this into writing and send this to MBNA asking for clarification/written confirmation that they did have.

Should they then still confirm they received the funds, what would be my next step? Do I keep all money seperate in case one day they realise a mistake? Am I free to use the money otherwise seeing I did all I could to convince them they haven't got the money?

Suggestions and experiences more than welcome

Mowgli87

I would chuck into a savings account. Dont touch it - just in case.

Soph86_2

I'd wait for the letter - if it says you have paid the money and are released from further obligations to pay it, I wouldn't force the issue. I did pay a solicitors bill a year or so ago though that did a similar thing, the money disappeared from my balance and then reappeared, but it was taken again a week or so later once the payment had cleared. I'd keep the money in that account for a month or so and see what happens.

TakingControl

Soph86 wrote: »

I'd wait for the letter - if it says you have paid the money and are released from further obligations to pay it, I wouldn't force the issue. I did pay a solicitors bill a year or so ago though that did a similar thing, the money disappeared from my balance and then reappeared, but it was taken again a week or so later once the payment had cleared. I'd keep the money in that account for a month or so and see what happens.

So what do I do if it still hasn't been taken in a months time? Surely I don't have to hang onto it for 6 years especially if I have tried everything to set the record straight?

Soph86_2

I could be wrong, but banks usually say to allow 28 days for things to clear properly - hence the month timeframe.