Link financial mbna credit card debt help

Neighboursfan

Hi I'm new to this and new to facing up to money issues!

After not being able to maintain credit card payments the £9000 debt was sold to link financial I have only ever received one letter I offered £200 a month ( I not sure if I can afford this ) they said they needed it in full and to look for loans to settle the debt !

I don't know what to do any help appreciated !

mo1_2

hiya,dont take out a loan to pay them,they should not even be sayin that to you,dont speak to them on phone,dont answer there security questions when they ring,just tell them to write to you,dont be frightened by them,and only agree to repay what you can afford,and on a possitive note it will get sorted just dont worry,

fermi

Neighboursfan wrote: »

they said they needed it in full and to look for loans to settle the debt !

Did they indeed?

Pressurising you into paying more than you can genuinely afford, and especially pressurising you to take out further credit are strictly against OFT guidelines.

https://forums.moneysavingexpert.com/discussion/comment/47811943#Comment_47811943

Physical/psychological harassment

3.6 Putting undue pressure on debtors or relevant third parties 27 (for example, appointed representatives) is considered to be oppressive and an unfair or improper practice.

27 A 'relevant third party' in this context is any person representing, or acting on behalf of, the debtor in respect of the debt recovery process.


3.7 Examples of unfair or improper practices are as follows:

....................

b. pressurising debtors to raise funds by selling their property or by taking on further borrowing (including extending their existing borrowing)

Neighboursfan

Thanks for replying they have also asked for me to see if I can put the debt on my mortgage and that they took my debt on as I'm a home owner but I didn't ask them to take on my debt ?

mo1_2

cheecky monkeys,do they own your debt?

Neighboursfan

Had a letter saying the debt was sold to them by mbna?

chanz4

Sounds like they have a charging order in mind.

mo1_2

find out if they have the credit agreement you signed

Neighboursfan

Oh no what's a charging order?

panny12

this is how i would deal with them, had an MBNA debt sold to DLC a while ago, never speak on the phone, they will call you countless times, be strong enough to ignore all calls. Write to them and state you are in financial difficulty and can only pay a small amount each month, only pay £200 a month if you are sure you can afford it otherwise choose a comfortable amount for you to pay. Offer this as a payment and offer them a record of your income and outgoings, they should send you a form, inform them of all your debts and what you can afford, they will accept and will re assess in 6 or 12 months, then do the same. Its about being strong and only paying whats good for you.

Neighboursfan

I just want to sort out our problems and start paying it off I thought they would accept a payment plan ?

I have a store card that went to a collection company abd they were easy to deal with abd set up a plan , it was for a much lower amount though?