MBNA refusing to confirm final settlement in writing

macca5000

Hi all,

I have been dealing with MBNA recently regarding the partial settlement of an outstanding debt.

There is a potential that they may accept a final settlement of around 40% and have given me assurances that once the settlement payment has been made they will settle the account and not pursue the remainer of the balance.

Obviously that is great news, but the only issue is they are refusing to confirm in writing until the payment is made.

Has anyone had any experiance of this practice. If I recorded the call myself, informing them that I was recording the call would that cover me?

awayinchina

macca5000 wrote: »

Hi all,

I have been dealing with MBNA recently regarding the partial settlement of an outstanding debt.

There is a potential that they may accept a final settlement of around 40% and have given me assurances that once the settlement payment has been made they will settle the account and not pursue the remainer of the balance.

Obviously that is great news, but the only issue is they are refusing to confirm in writing until the payment is made.

Has anyone had any experiance of this practice. If I recorded the call myself, informing them that I was recording the call would that cover me?

NEVER settle unless you get written confirmation email/snail mail. Otherwise tell them to whistle. record the conversation and tell them after they decline you have recorded should they take it too court you can play the mp3. Also tell them under OFT and FSA guidelines all offers must be made in writing as they could say they never agreed to anything. SO WRITEN OR NO PAYMENT.
it is easy for them to take the 40% and then sell the remaining 60% to a DCA. DO NOT ENTERTAIN PAYING UNLESS pen is to paper!

garynuman

awayinchina wrote: »

NEVER settle unless you get written confirmation email/snail mail.

Agreed, But I understand that email is not a secure means of defence. I would always write and send the letter "Signed for".

Gaz

macca5000

I'll write to them tomorrow. I thought it didn't ring true. They keep insisting that they could sell the debt at any minute, but there's nothing to say that they wouldn't sell the remainder anyway.

Would a recorded call not amount to an agreement anyway? A verbal one at least?

oscar52

How would you prove who the call was made to?

Anyone couold pick up a call and say "Hello, this is x at MBNA how can I help"

rising_from_the_ashes

You need it in writing before paying - also make sure the letter confirms that your credit file will be amended to reflect a £0 balance (and mark as part settled) so that the debt cannot be pursued at a later date.

macca5000

I've put together a letter from a template on the debt helpling website. I'll give them a call again today and see if they will accept the amount and let them know I will be sending a letter by recorded delivery.

It seemed totally unreasonable that they would not confer in writing. The explanation that time was of the essence was tantamount to scare tactics IMO.

nottoolate

only possible reason for refusing to put it in writing is that they intend to screw you over

awayinchina

garynuman wrote: »

Agreed, But I understand that email is not a secure means of defence. I would always write and send the letter "Signed for".

Gaz

Actually, most credit firms, banks and DCA's use word to generate a letter on headed paper (pre-format) then they convert to PDF before sending it too you. As 99% of the signatures on such letters are scans and placed on the letter prior to printing. This will stand up in court as you have the electronic form of the letter and also by doing a reverse search of the originating IP address you can tie it into the firm (trust me done this and they soon back down if they sell it on!!)

if they argue an electronic copy is not valid because anyone can make one. well anyone can copy a letter and letter headed paper and edit accordingly. Also, all letters now days are generated electronically and just printed.

its not that hard to trace the IP takes less than 20 seconds to find IP and trace it...

macca5000

I've contacted them again today. The person I spoke to said that even if I send something in writing, they will not respond to the offer in writing as it is no longer their policy to do so.

He claimed that between them sending me the letter and me receiving it, they could have sold the debt on and so they could not honour the agreement. I none the less insisted I was sending my offer in by recorded delivery, to which he replied "that would be helpful".

Has anyone had any recent dealings with them?

Will they indeed refuse to respond in writing?

awayinchina

OK what you need to do is record the telephone conversation in regards what they say and refer it to FSA and OFT. What they are saying is absolute BS. Ask to speak to a manager DO NOT speak to anyone else.
Also make notes of the name, time and duration of the call. As you are making an offer and they know if they go to court over this might lose the case as what they are doing is not fair and certainly not ethical.
then write an email to OFT and FSA explaining you have recorded the conversation and you are willing to hand it over to them. also CC an email complaint to the managing director of MBNA you can get his email from a web search also you might want to email the bbc watchdog. Seriously CC the email to as many as you can they will change their tune!
financial firms are getting enough bad press the more they get they really do not like it.
YES. send it recorded delivery to MBNA and hard copies to all others you complain too.
BE A MASSIVE THORN IN THEIR BACKSIDE!

ALso tell them its not a case of sending a letter they can email it and as soon as you get the email, you will pay. Then there is no chance of them selling it on in like 3 minutes. What utter waffle!