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Virgin MBNA paying off defaulted card at 0%

got into difficulty a few years ago with the above card and they agreed i could pay it back at 0%  £100 a month which i have done faithfully for the last couple of years now have about £1400 left to pay. All going well until this covid thing means as a self employed person i have literally lost all my work until further notice, probably October at least. I cant now afford £100 monthly. Im wondering should i contact them and tell them this and would i risk them now deciding to pile on interest and charges or am i better off ignoring them and wait to see if they sell it to a debt company and then try and 3 letter them which i sucessfully did with barclays.  Not looking for judgement just practical advice. Not bothered about credit report.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 24 March 2020 at 7:04AM
    Tell them.  The account will have defaulted, so there will be no interest.

    And forget the 3 letter nonsense.  If you believe the debt is unenforceable then simply tell them that and ask them to prove it, but don't dress it up in the FOTL stuff.
  • Lemonbelly
    Lemonbelly Posts: 35 Forumite
    Fifth Anniversary 10 Posts
    thank you. ive tried calling them a few times but the line understandably is busy so i gave  up after 40 minutes so i sent them a message on their secure text service which promises a response in 3 days. I will post up what i recieve
  • recieved a phone call from virgin money today. Basically saying that as im already on a payment plan (which ive kept to for 4 years paying the agreed amount) they wouldnt offer me a payment holiday, and if i failed to make this months payment the plan would be broken and i would revert to be charged interest. I said i literally have no income coming in until the 80% for self employed kicks in by June and would be able to start paying again then. He said he would have to refer it to his seniors and would hope to get back to me by the end of april. Should i just sit tight until then? or should i complain to the financial ombudsman or suffer hardship and scrape together some payment which will be very difficult?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 28 March 2020 at 10:52AM
    Just keep paying what you can.  I wouldn't worry too much about it - they're unlikely to take an overly tough line and if the account has defaulted, they won't be charging interest.
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