MBNA Debt showing twice

secretdebt

Hi,

In the past couple of months I have received a letter from MBNA stating that they are going to sell the debt that I have with them to somebody else at the start of October.

They then proceeded to change the account number of the debt.

My credit file now shows 1 open debt for c£800, and a closed debt for c£900 (the difference being the monthly payment I make to them).

My issue is, is that shouldn't the closed account be at £0? On my Moneysavingexpert Credit Club and Clearscore accounts its shows both - and so effectively it shows that I owe MBNA £1,700 instead of the £800 it actually is. I'm concerned that at the point of sale, I may end up being pursued for 2 lots.

Does anybody have any ideas?

Thanks

sourcrates

Hi,


The procedure when debts get sold is pretty simple, the original creditor should mark there entry as satisfied or settled, and with a zero balance.


The new owner will then take over reporting of the account under there name, the account numbers should tally, as should the original default date, if they do not tally, write to both creditors and demand an explanation.

Willing2Learn

@OP

Just to add on to the original default date comment. This should be dated to when the debt was 3-6 months in arrears of the original credit agreement.

secretdebt

Thanks both.

The debt hasn't actually defaulted.

They just changed it to a different account number, and will probably sell it off in shortly.
I will wait and see what comes of it. And then if they default it, I will write to them to ensure it gets put back to early 2015.

I have been in a DMP for 3.5 years now, and so whilst I had an arrangement to pay with MBNA, they didnt actually default it. Now they are selling it on. Can the new company default it if I continue to pay the agreed amount? The amount is actually c£800 and I am paying c£120 a month - so it will be finished in March (and hopefully before).

MBNA confirmed it would be a reputable company, and that as long as I continue to make the same payment, that it would not get defaulted.

I would hate for it to default so close to being paid off.

Willing2Learn

Having the account marked as defaulted, dated back to when you were 3-6 months in arrears of your original credit agreement, would be a good thing. This is because the account would be removed six years from the date of default. As it stands, since the account is not defaulted, the date the account is removed from your credit file will be six years from when the account is settled. This means a default is nearly always the preferred option.