We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
MBNA Credit Agreement Terminated
funkyfish586
Posts: 553 Forumite
Hi all, just posted another thread about CCJ but dont know how to merge them.
Has anyone else been in a DMP & had this happen with MBNA? what happened next? MBNA have been really good & froze all interest & charges but 2 years on we have just received a letter saying that the agreement has been terminated & they are deciding what action to take.
Im just wondering what usually happens next? x
Has anyone else been in a DMP & had this happen with MBNA? what happened next? MBNA have been really good & froze all interest & charges but 2 years on we have just received a letter saying that the agreement has been terminated & they are deciding what action to take.
Im just wondering what usually happens next? x
"Knowledge is knowing that a tomato is a fruit, but Wisdom is knowing not to put it in a fruit salad."
0
Comments
-
The most likely outcome is that the debt will passed or sold on to debt collectors.
Not necessarily a bad thing, as they may well continue to suspend interest/charges.
Legal action is of course possible, but only really likely if you have property with a lot of equity. Otherwise a CCJ isn't likely to get them any more than they already do under your DMP.
When was this card first taken out?Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
i think it was 2007
x "Knowledge is knowing that a tomato is a fruit, but Wisdom is knowing not to put it in a fruit salad."0 -
OK. Well, no big deal.
Just have to see what they do with the account.
May seem a scary prospect, but things will most likely work out.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards