MBNA: What's likely to happen next? Anyone been through this?

Bugjam

Hi,

Received a letter from MBNA today, saying that my Credit Agreement has been terminated.
Goes on to say that they will take recovery action (I have been paying them via a DMP with the CCCS). by either:

Selling the Debt on to a collection agency
Placement of Debt - debt placed with an agent to collect the full debt on their behalf
Litigation - obtaining a CCJ to recover money through an Attachment of Earnings.

Anyone had any experience of this, and what can I expect to happen next? Also should I inform the CCCS or wait until MBNA decide what to do next?

Thanks

Tixy

How long have you been on your DMP?

They may just carry on accepting your payments through your DMP, or they could do either of the other 3. Although I don't think its that common for MBNA to use an attachment of earnings after a CCJ - their preferred method is to try to get a charging order if you own a property, if you don't then even with a CCJ you could ask to pay in installments at the same level as your DMP payment to MBNA.

footiemom

hi i have had the same letters and i am also on a dmp with cccs since march. I think it is one of their generated letters. Have they accepted your payment plan? they have with me. the last letter i received from them was one to tell me i would no longer recieve statements from them and if they choose to sell the debt on they would let the new company know what payments i have paid etc that was beg october and not heard anything yet. try not to worry i know thats easier said than done but as long as your paying your agreed payments through cccs i think you should be ok (well thats what i say to myself) if you get more letters ie from debt collectors about the debt just contact cccs for advice thats what i will be doing. I hope this advice helps you

good luck in your debt free journey

footiemom
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sickasachip13

Hi,

They sent myself and Mr SAAC this letter about a year ago, not long after our DMP started. They've been accepting the payments since and the % remains frozen *touches wood*

I would just wait and see what happens - they may do none of the above. It's worth letting CCCS know if you like, they'll probably just say that they'll keep sending the payments until something actually changes.

Try not to fret.

SAAC