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MBNA - Help Needed
pinklady73
Posts: 4 Newbie
As like many people myself and my Husband over the years have a loan and 3 credit cards (all in his name, my names not stupid..lol).
In Nov 2007 we contact all our creditors letting them know that we were having financial difficulties and were unable to pay minimum payments. One creditor (Egg) were absolutely brilliant, done a financial report for us and gave us a detailed pro rata payment for all creditors of which I sent all copies. Egg froze all interest straight away and we set up a standing order.
Our problem is with MBNA (on behalf of Abbey). They have not listened to anything we have told them about our financial situtation, all we get is phone calls from them saying we want £900 from you. Each month putting another £12 late payment, £12 overlimit fee, Payment Protection Cover £98.71 and Interest in the region of £200+
Can anyone let us know whether we will just have to stick with all this extra money going on the balance for a few months until it gets frozen or because we contacted them in November and were honest in our situtation that they are not allowed to do this.
I hope this doesn't sound too complicated, I'm not very good in explaining myself properly sometimes. Thanks.
In Nov 2007 we contact all our creditors letting them know that we were having financial difficulties and were unable to pay minimum payments. One creditor (Egg) were absolutely brilliant, done a financial report for us and gave us a detailed pro rata payment for all creditors of which I sent all copies. Egg froze all interest straight away and we set up a standing order.
Our problem is with MBNA (on behalf of Abbey). They have not listened to anything we have told them about our financial situtation, all we get is phone calls from them saying we want £900 from you. Each month putting another £12 late payment, £12 overlimit fee, Payment Protection Cover £98.71 and Interest in the region of £200+
Can anyone let us know whether we will just have to stick with all this extra money going on the balance for a few months until it gets frozen or because we contacted them in November and were honest in our situtation that they are not allowed to do this.
I hope this doesn't sound too complicated, I'm not very good in explaining myself properly sometimes. Thanks.
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Comments
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I had the same problems with MBNA. They were the only creditor I had problems with and they only took notice once CCCS got involved. Barclaycard were brilliant.0
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Has your Abbey card not switched over to being owned by Abbey (santander) themselves?
I had an MBNA card on behalf of Abbey, but its now switched to Abbey owning the card & the CCA is with them....0 -
IWantToBeFree wrote: »Has your Abbey card not switched over to being owned by Abbey (santander) themselves?
I had an MBNA card on behalf of Abbey, but its now switched to Abbey owning the card & the CCA is with them....
I don't think it has...will check.0 -
I have 2 cards with MBNA, one of them being an Abbey one.
The MBNA one has defaulted and has been passed to a DCA. I have agreed a payment with them and all is happy.
The other one which is the Abbey one has turned into a nightmare. At the beginning of December I was threatened with charging order on my house or pay increased payments to stop the account defaulting. I told them to default the account and move it onto the next stage (whatever that maybe!) because I can not afford to give you anymore money.
We started our DMP with CCCS in March last year so expect it to take a couple more months yet to get things sorted if you go by my experience!0 -
Hi Pinklady,
Hope I can help out a bit.
First of all you are doing the correct thing by offering a Pro Rata figure based on you SOA – That’s great!
With regards MBNA you need to keep on requesting they stop the interest and charges. When was the last time you SOA updated? It might be worth sending them another copy explaining nothing has changed (assuming nothing has) in your situation and ask them to reconsider.
Your payment protection, a lot of the time when you default on an agreement in will invalidate your insurance policy so basically you will be paying out for something you can not claim on. I would recommend that you check your policy and if it is invalid cancel that ASAP.
If you are wanting the calls to stop from your creditors put a letter together requesting that they remove your phone number from there database. Anything important they will send in writing anyway – this will also reduce some of the stress for you.
Sick to you guns, if that’s all you can afford to pay don’t let them have anymore! The amount has got to be realistic for you at the end of the day.
If you need any help putting together a new SOA we do have an online facility called debt remedy this will also give you the best advice going forward and help you with a long term solution to get your debts cleared. To access click here
Let me know how you get on
SarahI am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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Thank you all so much for your advice, it really does ease the weight a little. Our SOA was only done in December by Egg so is pretty recent and I would say this would have to stick for at least a year to try and get ourselves out of our overdraft and into the black before we can even concentrate on upping the amount to any other creditors.0
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Does your pro rata payments include you overdraft? As an overdraft is also classed as an outstanding balance it should also been receiving a fair amount of your surplus. Do you still bank with the same bank? If so you might want to consider opening a basic bank account with another bank where you have no debts. This will ensure that your money is safe i.e. if the bank chooses to close your overdraft this could leave you short for priories such as rent, council tax etcI am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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The pro rata payments do include our overdraft. I'm in the process of opening another account to try and get ourself straight again but its taking time.0
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Great stuff !I am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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Great StuffI am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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