Mbna

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Hi there. New to the site.

I am having difficulty keeping up my repayments on cards, but thus far I am just about managing.

A few months ago, MBNA wrote to me saying they were going to take me off a reduced interest band I had with them for all the years I had the card, and increase it quite substantially.

I called them and complained, they met me in the middle but still I find my bill has an extra fiteen quid in interest each month compared to what it used to be.

This week I receiced my latest bill......£144 interest and a minimum payment of £156.

(I owe £9300 approx)

If I pay the minimum amount (which is all I can afford, quite frankly) then I will have only payed £8 off my overall bill.

Now, I know I have no one to blame but myself for being in so deeply, but the thought of them taking an extra £15 of me when I am in dire straits is really eating at me.

Is there a regulator or ombudsman I could approach to try and force MBNA to restore my interset rate to what it used to be?

Thank you in anticipation.
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Comments

  • rchddap1
    rchddap1 Posts: 5,926 Forumite
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    To be honest getting the interest rate increase reversed won't solve you problem...£15 won't make a huge dent in a debt of £9300.

    The best that you can do is to post your income and outgoings here and more people will beable to advise on where you can cut back.
    Baby Year 1: Oh dear...on the move

    Lily contracted Strep B Meningitis Dec 2006 :eek: Now seemingly a normal little monster. :beer:
    Love to my two angels that I will never forget.
  • Justindebt
    Justindebt Posts: 88 Forumite
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    I am afraid no one can help me, rch.

    That £9300 is not even the tip of the iceberg.

    I have £100,000 in debts that my wife doesn't know about....and 30K that she does know about.

    But, strangely, amidst all my troubles, this £15 extra interest is really annoying me.

    I think I must be having a mental breakdown or sommat :rotfl:

    I heard Martin on talkSPORT today, as I have heard him often before, and decided to join the board so I could vent a little.
  • rchddap1
    rchddap1 Posts: 5,926 Forumite
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    Nothing wrong with venting...a lot of us do it all the time. I'm sure before long more people will be along to give you some better advice. £15 extra in interest is a tad annoying, but you've just said what the big problem is. Just do me a favour and don't bury you head in the sand thinking it will all go away. Someone I know has a huge debt, but they stuck their head in fast setting concrete. I'm slowly getting through to them though....
    Baby Year 1: Oh dear...on the move

    Lily contracted Strep B Meningitis Dec 2006 :eek: Now seemingly a normal little monster. :beer:
    Love to my two angels that I will never forget.
  • Justindebt
    Justindebt Posts: 88 Forumite
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    Oh, I know it won't go away.

    And so far, as I say, I manage to make all my payments ecery month. And I don't have a job.

    The only consolation I have is that I am now a man in my fifties.

    I would hate to be a young man facing my debt problems.
  • Xbigman
    Xbigman Posts: 3,887 Forumite
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    Wow, thats a difficult post to reply to.

    If you actually have the income to service your debts then all might not be lost. Try using the site budget planner to set out your budget and post the details of your income and out goings on here. You never know what the regulars can come up with.

    In nearly all circumstances I'd tell your wife the true extent of the problem. It sounds like you will need her help.
    Regards



    X
    Xbigman's guide to a happy life.

    Eat properly
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  • Justindebt
    Justindebt Posts: 88 Forumite
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    If only it were that simple, Xbigman.

    You see that 30K my wife knows about?

    Well, we re-mortgaged the house to pay previous debts with that money.

    Meanwhile, I proceeded to burn 50K feeding an internet gambling habit, and ran up another 50k somewhere I can't even remember about (the stock market and other "investments").

    My wife, who thinks all is fine now, remarked to me the other week that if ever I got into debt again it would kill her (she suffere from multiple sclerosis).

    So I can't tell her.

    How do I pay my debts and I don't work?

    Well, and again this breaks every rule of sensible living, I make it on the horses and betting football.

    I have no other choice.

    Even if I took a job, I would need almost £2,500 per month in wages to meet my debts.

    So I set out every day to make £100 betting.

    And you know the sad thing?

    I can do it.

    I regularly make three grand every month......if I didn't have this debt hanging over me I would be lining on easy street without having to work as such :D

    But there you have it.

    As I said earlier, I didn't come here looking for help or advice about my general situation, because quite frankly I am well beyond help.

    I just begrudge MBNA this fifteen quid :rolleyes:
  • Willsnarf1983
    Willsnarf1983 Posts: 1,928 Forumite
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    sorry mate wake up in the real world...if u made 100 quid a day would u ahve wasted 100k gambling(the stock market is equivalent to gambling as well). u need to get some serious help either gamblers anonymous or gamcare. its not gonna just go away mate...please go get some help

    Will
    SShhhhhhhhhhhhhhhhhhhhhhh
  • debtbuster2K5
    debtbuster2K5 Posts: 1,515 Forumite
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    Justindebt wrote:



    Meanwhile, I proceeded to burn 50K feeding an internet gambling habit, and ran up another 50k somewhere I can't even remember about (the stock market and other "investments").

    I am a little confused Justin, If you are able to make £3k per month on gambling, how on earth did the above happen.

    This is a real high risk strategy and I think you really need to consider what would happen if you happened to burn another £50k with your gambling habit.

    As xbigman said this is a really difficult post to answer, but I do wish you all the best.
    Regards
    24 hours in a day. 24 beers in a case ... coincidence? :beer:
  • Justindebt
    Justindebt Posts: 88 Forumite
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    What kind of help, Will?

    I have already said I am not looking for help....just a place to vent a little.

    And I certainly didn't expect some smart alec telling me to live in the "real world".

    The world I live in is plenty real enough without people scoffing.
  • Justindebt
    Justindebt Posts: 88 Forumite
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    Hi Debtbuster.

    This didn't all happen while I was on the downward spiral.

    The three grand a month scenario came about as a result of having to do sommat about the situation I found myself in.

    I'll tell you what.

    When I have time tomorrow.....I will post the whole sorry saga of how I came to be in this position.

    It is unbelievably easy to end up in this predicament.

    Who knows, maybe my tale will help others.
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