Closed MBNA Loan transferred to Moorgate

david39

I had a loan with MBNA that ended with its final payment on 16th December 2011. I have a letter from them stating that this is the case.
This account was never in arrears - every payment was made on time by Direct Debit.

In the past couple of days I have received a further letter from them saying that a portfolio of MBNA loan accounts, including my closed account, has been purchased by AOF 2 Sari and will be administered by Moorgate Loan Servicing Ltd.

They state that my account has been paid in full so no further action is required on my behalf. However, they also say that AOF 2 Sari will now be holding the data they have been supplied with regarding my account and that Moorgate will be handling the maintenance of it.

I am a little concerned about this as there is much discussion on this board about the way in which Moorgate conduct their business and I am also puzzled as to why AOF 2 Sari (is that Moorgate under another name?) would wish to buy an account that was already paid up.

On the face of it and with an acknowledgment that the account is fully paid, this should not concern me but am I being paranoid in thinking that there is more to this than meets the eye?

I would appreciate anyone's thoughts on this as to what is going on.

Thanks for reading.

[Deleted User]

They'll have bought the book, and that includes the closed off and settled accounts. MBNA donn't want to be fielding calls from you in 3 years time. Nothing to worry about.

happy_bunny_2

Moorgate also bought all of Eggs loans last year. Looks like they are starting a collection.

nctmum

I agree with zx81 - this is nothing to worry about, they have sold everything so they don't have to manage it anymore, I have had a letter too.
Even customers who have settled their loan may want to call in and query something/reclaim PPI so they dont want the expense of having to do anything at all.