In tears...thanks to MBNA!

Honeybee_2

tallyhoh wrote: »

As people have already said, being passed to a debt collector normally stops interest charges & debt collectors have absolutely no more authority do to anything more than my dog could.

Dogs have the upper hand there too as they can beg or give you paw if they want something as opposed to giving you harrassing phonecalls!

Deep_In_Debt

I read this thread from work - unfortunately, I have internet police at work so can't post but just want to say don't let them get to you.

I think it's strange that some creditors are good with some people and not with others. I owe MBNA about 9k. I rang them in January to tell them that I was starting a DMP with CCCS and the girl on the phone (who did have a bit of attitude!) turned out to be ok in the end. She said to me that if I went with CCCS they would freeze interest on my account and accept payments. Interestingly, they are the only creditor that have and I've not spoken or heard from them since February so I'm assuming all is ok.

I've read horror stories about MBNA and am preparing myself for the onslaught but so far they have been brilliant and my largest creditor. I do get hassle from other creditors though, mainly Barclaycrud and Hellifax but again I don't let them get to me. I just don't speak to them. Just don't let them get to you. I guess you just get used to dealing with them after a while.

Sorry if that's not what you want to hear. Do keep posting.

Big hugs, chin up.

moneymeltdown

OMG!I have just got home and received a letter from MBNA saying I have 48 hours in which to resolve the issues regarding my account. If I fail to do so,they will begin Court Proceedings to issue a charging Order on my property!

I am speechless. I have my cccs appt next thurs morning...! HELP!

Deep_In_Debt

I could be wrong but I think they can only go for a CO if you have defaulted on a CCJ? I'm assuming you don't have a CCJ?

I'm sure someone will correct me if I am wrong.

moneymeltdown

No deepindebt I don't have a CCJ....

Deep_In_Debt

I'm not sure that they can go for a charging order then. They may go for a CCJ instead.

I would suggest you contact CCCS tomorrow and see what they suggest. They may be able to advise the best course of action in the meantime. Sounds like MBNA are being total t*****s.

cervaro

I too currently owe a large amount of money to MBNA, around £14,500, and it's the interest that is preventing me from making a significant dent in the balance. My card debt across a total of 5 cards, including MBNA is approx £37k, and the minimum payments are costing me £750 a month, which after paying for a car loan and the mortgage, etc., basically leaves me with nothing unless I get to work extra shifts, with basically very little leeway to cut those monthly outgoings at all.

Are MBNA likely to reduce the rate of interest if I put something in writing to them explaining my circumstances, or are they likely to show utter disinterest?

moneymeltdown

i will call cccs first thing and see what they advise...thanks deepindebt!

Lodge

cervaro wrote: »

I too currently owe a large amount of money to MBNA, around £14,500, and it's the interest that is preventing me from making a significant dent in the balance. My card debt across a total of 5 cards, including MBNA is approx £37k, and the minimum payments are costing me £750 a month, which after paying for a car loan and the mortgage, etc., basically leaves me with nothing unless I get to work extra shifts, with basically very little leeway to cut those monthly outgoings at all.

Are MBNA likely to reduce the rate of interest if I put something in writing to them explaining my circumstances, or are they likely to show utter disinterest?

If they know you are in trouble it could alarm them and they could INCREASE the interest rate.

In my opinion you are better off trying to set up a DMP where by you make pro-rata payments to your creditors and interest and charges are stopped.

I'm not 100% sure but I think the account has to default before they will allow this though?

Others here will know more.

Good Luck.

Deep_In_Debt

I'm not sure cervaro. I'm on a DMP with CCCS at the moment and MBNA are my largest creditor. As I mentioned in my previous post, they have been brilliant with me - the first creditor to freeze interest and charges and I've not heard from them since I started my DMP at the beginning of the year (unlike my other creditors). They were one of my creditors who recommended I went to CCCS so it might be worth you going to CCCS as may be more willing to freeze interest through them. It seems that MBNA are a bit of a law unto themselves.

moneymeltdown, don't let this worry you - I know it's easy for me to say - I'm sure I have it all to come. CCCS will be able to advise you the best way to go - it won't matter that you've not had your appointment with them yet, they will still advise you. Good luck.