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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."
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Comments
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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
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