MBNA Debt

trsisko

I have just defaulted on a credit card after 10 years, i will probably never get credit but at least i have a chance of paying it off.

What do i do now will they still except payment? I'm worried about getting a CCJ as it will effect my job. How do i proceed, can i arrange a monthly payment?

shinner

Have you not paid them at all ? I had an account with mbna it took them along time to default me. I didn't pay full minimum but they were really good to deal with. I also settled my account after 5 month of reduced payments for 22 %.
Think people will want a little more detail before they offer help/ advice

Larac

I would ring up MBNA and tell them you are having difficulties paying and they will try and sort out a payment plan with you. As I recall MBNA normally expect a certain percentage to be paid each month. If you enter into a payment plan then in effect you have defaulted and this will be on your credit file for six years. I am on a DMP and MBNA were one of my creditors and they sold the debt on after a year, which was what I got told would happen by MBNA. The only thing different is I pay another party instead of MBNA. The key is to talk to MBNA - however hard you may think this is. It was MBNA that directed me to Step change the debt charity to which I am now grateful.

seanavfc92

CCJ's are a long way off yet if you've only just defaulted. It would more likely go to a DCA who would chase you for the money before court was even considered. Even then, you still only pay what you can afford!

Sedge123

Do you mean you have accidentally missed s payment or that you can't make a payment?

trsisko

I couldn't afford it with my current debt levels. I have paid the card for years. I've been making payments but i have fallen 7 payments behind.

I will call them and try and make payments. In all honesty, without the interest building up i should be able to pay it back

yamsteroo

I guess different people will have different experiences with MBNA but I found them quite good to deal with - certainly professional which is more than I can say for some (Santander!). They initially cut my interest then eventually stopped charging any interest at all even though I was making fairly substantial payments to them each month (way more than the minimum).


I shouldn't think a CCJ is an issue unless you just ignore the debt - best to just talk to them.

sourcrates

trsisko wrote: »

I have just defaulted on a credit card after 10 years, i will probably never get credit but at least i have a chance of paying it off.

What do i do now will they still except payment? I'm worried about getting a CCJ as it will effect my job. How do i proceed, can i arrange a monthly payment?

A 10 year old credit card debt will very likely have an unenforceable agreement, you need to send a CCA request for a copy of your original agreement, unlikely they will be able to produce it, which means due to the age of the debt, the account will be unenforceable and you could choose not to pay, they will not be able to get a judgement against you in court due to the non production of the copy credit agreement, just a "new string to your bow" for you to ponder on, should you want to.

happy_bunny_2

As Sourcrates says. MBNA gave up looking for my CCA years ago...

Was the card with MBNA originally or someone like A&L?