MBNA Credit card debts

gillespie684

Hi

I am knew to this and I currently have 3 credit cards with MBNA that I am making reduced payments to, have agreed this with MBNA. How long will they allow me to make reduced payments? What will happen if I continue to make reduced payments of £14 a month? I could possible agree to increasethis slightly. I am unable to pay the amount requested of £800 as I have paying reduced amount for 6 months now and I have received a letter advising that if I do not pay this amount it will lead to a default on my credit report, will they offer me any other options? Will they allow m to continue to pay reduced amounts or will it automatically default after a certain time?

Thanks
Gillespie684

MunnyMan

is 800 your total debt then? seems to me judging by my situation ..... 18k on 2 cards...... that once your time is up its up if you cannot afford the repayments they demand then its nothing but negative endings where credit ratings are concerned...thats my feeling on it

PNPSUKNET

sounds like they have sent you a default notice, thats the reason now for the demand of £800. They are likely to sell soon

Sparklyfairy

Gill, just a bit of a warning...if you own a property - MBNA tend to go for charging orders. I have one from them (like loads of others out there) & they were unwilling to negotiate any kind of dmp with me from the start & only wanted their ridiculously high apr monthly payment - interest was never stopped either. It tends to go from warnings, default(s), ccj, then interim charging order, then charging order in a nutshell. Hth, SF

nottoolate

gillespie684 wrote: »

Will they allow m to continue to pay reduced amounts or will it automatically default after a certain time?

after that time of small payments like that a default is to be expected.

probably better that they do it sooner rather than later