Dmp MBNA

Florida15

6 months into our DMP now. Just had a default letter from MBNA stating that if we dont pay the full balance outstanding further action will be started, ie, default, dca and possible court !

Is this just a standard letter or should we be panicking more than we are already? From the start of the DMP MBNA have frozen interest and been no problem.

Thanks for your help

livingindreamland

It's a standard default letter, they have very scarey wording don't they ;-) Just file it, and in six years the default will fall of your credit file. (oh and I've no doubt if you could have paid the outstanding balance in full you would have done so, rather than the DMP LOL)

Suseka

I had one of those recently too, although it took almost a year before they notified us of the default. Looks to me like a standard letter simply setting out their options (DCA, Court etc.) should they so choose.

I guess they would be more likely to sell the debt on to a DCA depending of course how much you owe and how much your repayments to them are. Don't worry if they do that, you just inform your DMP provider of the new details and they simply amend the payment instruction to pay the DCA the same amount they pay MBNA.

Florida15

Many thanks for your replys, just hope no court action is forthcoming, x

blisteringblue

I wouldn't worry, you shouldn't end up in court when on a DMP. Defaults are good, they come off your credit files earlier. Just wish Barclaycard would do the same.

Rrushi_Shqiptar

I don't wish to alarm you or anything like that but a word of caution please.

I had 2 CC's with MBNA years ago (2008) I was injured on duty had to retire, suffered PTSD etc..... ended up with a DMP and found this hard to keep up with, i ignored things and buried my head etc.

The debt was passed on to ARROW GLOBAL who in 2009 filed for my bankruptcy without much warning (maybe they did but I was in a bad place then) I was made bankrupt 12/2009, laugh of it is they didnt get any money as there was nothing left after the fees for the IP and 2 charging orders paid off.

So please do not ignore them, they might not take you to court but they will pass it onto DCA who will, i.e ARROW GLOBAL.

Please take care

Tixy

Rrushi_Shqiptar wrote: »

So please do not ignore them, they might not take you to court but they will pass it onto DCA who will, i.e ARROW GLOBAL.

The OP is not ignoring the debts. They are repaying them under a Debt management plan. In their case the default notices are simply routine before the creditor marks a default on their credit file.

Rrushi_Shqiptar

Tixy wrote: »

The OP is not ignoring the debts. They are repaying them under a Debt management plan. In their case the default notices are simply routine before the creditor marks a default on their credit file.

okay maybe I miss read the OP its just my experience and I don't want anyone else to go through what I went through, MBNA give me shivers.....

Sorry for any uset

Thrugelmir

Florida15 wrote: »

Many thanks for your replys, just hope no court action is forthcoming, x

Providing you maintain agreed repayments then shouldn't be any necessity for recourse to court. Nothing to be gained from the creditors perspective either.

longtermplanner

Tixy & Thrugelmir's advice is probably correct. The only time MBNA are likely to take you to court is if you have a property with a lot of equity - after a CCJ they can apply for a charge over your house. This isn't common, but it is a possibility.

Why not talk to Stepchange about it?

Florida15

Thanks again for the advice, think i will call stepchange just to advise them and see what they say.