# MBNA/Avant Card Debt Settlement Quandary



## Taz_CC (21 Apr 2013)

Folks,

With regard to the buy-out of MBNA by Avant Card, does anyone know what's happening with outstanding debts and how they're being collected? 

Since falling into arrears (February 2012) with a balance of around 11k, I've been battling with MBNA to hit on a settlement figure and all communication was done in writing through the email function of the MBNA website. I was delaying my dealings with MBNA to give myself more time to either find work in Ireland or prepare to move abroad, which I did last June, moving to Canada (I was born here). I continued to engage with MBNA and a figure was hit on that wasn't unreasonable but I let it sit for a bit as I hadn't found work. Just as I had found work and was ready to pay the settlement figure, the MBNA site, my login and all the email communications have disappeared.

I'm now settled here but as MBNA don't have my new address, I've nothing in writing. Letters could be all piled up at my old address but if so, they've probably been binned by the landlord. Having gone on so long, I'm assuming the debt has been sold on but I have no idea who might be dealing with it. Can anyone advise? Is it worth contacting Avant Card to see if they have any record of those emails? Unfortunately (and rather stupidly, I admit) I don't have them. If the debt has been sold on, I'm assuming I'll need to renegotiate the settlement. Does anyone have experience in this? I realise my previously impeccable credit rating in Ireland has been trashed but I'll take that as a lesson learned ie don't give stupid 20-something year olds credit cards with limits they can't handle. I'm now older and a tiny little bit wiser- this is my only debt and I'd like to do something about it.

I appreciate any assistance. 

As an afterthought, what's the worst case scenario here? I'd like to come back to Ireland some day- will I be busted at the airport or the moment I'm back on the grid (Revenue, a lease, ESB, UPC etc)? I sure wish I had those emails to show that I've been attempting to make some effort.

Thank you.

T.


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## joconnor (23 Apr 2013)

*Mbna*

I am in discussion with them now after a fee was fixed with MBNA please feel free to contact me


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## Sean Bateman (23 Apr 2013)

Perhaps you'd both share your experiences with the forum?

Cheers.


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## unsub (23 Apr 2013)

Take note if you negotiate a settlement for less than the full amount, you credit history will reflect this. If you do not intend returning to live in Ireland in the next 5 years your credit history will have been deleted owing to the 5 year rule.
If you decide to settle with Avant, offer them 20% of the debt which is probably what they paid MBNA for your debt.


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## demoivre (24 Apr 2013)

unsub said:


> If you decide to settle with Avant, offer them 20% of the debt which is probably what they paid MBNA for your debt.



Maybe Avant didn't take on the debt at all and MBNA have written it off? If I was the OP I'd be waiting for Avant to contact me ! High odds it won't happen imo.


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## frostie (25 Apr 2013)

I can tell you for a fact that the entire handover from MBNA to Avant has been a mess. I have clients, who have had interest frozen, been on repayment arrangements, etc, who are now receiving letters saying they missed their last minimum payment. It's been years since they met that repayment. If you are looking for a settlement, you have to show inability to pay first of all, and then look at 30-35% as your starting figure. You wont get much better then that though.

www.frost.ie


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## MrEarl (26 Apr 2013)

frostie said:


> I can tell you for a fact that the entire handover from MBNA to Avant has been a mess. I have clients, who have had interest frozen, been on repayment arrangements, etc, who are now receiving letters saying they missed their last minimum payment. It's been years since they met that repayment. If you are looking for a settlement, you have to show inability to pay first of all, and then look at 30-35% as your starting figure. You wont get much better then that though.
> 
> www.frost.ie




Hello,

I was looking at your website with interest and noticed on the About Us section, the following:



> *Frost Debt Solutions Ltd* is a part of the *Frost Group*,  Licensed Insolvency Practitioners who like to focus on the positive.  Whether you’re a business or an individual, no matter how great your  debt or how heavy the burden feels, there’s always something that can be  done. And it’s our job, as *licensed Insolvency Practitioners* in the UK and Ireland, to find the best possible outcome for you.


Has Ireland begun licensing Insolvency Practices yet - I thought they were still trying to sort out the arrangements and criteria for this ?

Many thanks

Mr. Earl.


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## Bronte (26 Apr 2013)

joconnor said:


> I am in discussion with them now after a fee was fixed with MBNA please feel free to contact me


 
What does this mean?

OP I would agree with what Demoivre suggested.


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## frostie (26 Apr 2013)

MrEarl said:


> Hello,
> 
> I was looking at your website with interest and noticed on the About Us section, the following:
> 
> ...



Hi Mr Earl,

We have just recently bought out our UK shareholders, and the website is in the process of getting updated, but under EU passporting rules our UK based licenced IP should be allowed to operate here, and will be acting as a PIP. It was only last week that provisions for licencing were announced by the ISI, and we still haven't been able to get an answer from them. It's all up in the air at the moment. This page should have been changed by now, but obviously has not!


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## fobs (27 Apr 2013)

We had not reached agreement with mbna either. My husband has a lot of health issues and we had shown our inability to pay much and they had not contacted us for 6 months and have not heard anything else since avant took over. Leaving them take first step. G have sent off for our icb records though. Could they have written off debt and we could be in clear is my hope?!


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## Taz_CC (27 Apr 2013)

Hi all,

Thank you to everyone for their contributions. Without any solid information, I'm inclined to wait and see. 

I'm returning to Ireland next week to take care of some other loose ends and it may be that my previous landlord has forwarded mail to an address we had left with him. Only thing is, that address is now unoccupied, following the sudden death of my fiancé's mother, so anything more serious- registered mail maybe- would have nowhere to go. Revenue has my Canadian address while my AIB branch has yet another address for me- hopefully this information isn't freely available as I would hate for my 90 year old grandmother to be hassled. If she was getting any hassle on my behalf, I'm fairly sure I would have heard through the family grapevine. Actually, I would have been shot.

So I will wait and see what post is waiting for me. If there's still nothing, I'll get my ICB credit report done up and see what info is being held. But other than that, I think I'll leave the ball in Avant Card's court. I will update as I know more. If anyone has similar experience or advice to offer, it'd be great to keep the thread going.

Still hoping not to be arrested at the airport though.

Thanks,
T.


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## johnnygman (30 Apr 2013)

There is absolutely 0% chance you will be arrested at the airport or arrested at any point in time over unsecured debt. Please do not fall victim to the fear that these companies try to instill in order to be repaid. If I was in your position I would in no way be making any further agreement until you hear more. MBNA or AVANT as they are now called. Previously this year a friend of mine settled a number of debts with MBNA at 32% of face value. If these are sold on to a collection agency at a discount, you can imagine they can be settled at even smaller cost.

Sit tight on this, the bank are giving a number bondholders "haircuts", think of it in the same fashion. I would in no uncertain terms be making any further contact re this debt.
Remember your credit file is already ruined for the meantime but will be wiped clean in 6 years, whether you will even want to borrow again is mute point but you have little to gain by putting an agreement in place right now. The stick they use to beat you is credit file and register default etc.. they have already done this so now you have the upper hand. Do not listen to the moral arguments from the wealthy on here. I have worked in this field for a number of years and can tell you, they only way you will make a deal that  does not cripple you for 5 years or more is by playing the waiting game. Please do not ever contemplate being arrested or the like, you have committed no criminal offence.


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## Taz_CC (1 May 2013)

Thanks johnnygman, that puts my mind at rest. As mentioned, I will see what post is waiting and if nothing, I'll leave it at that. I accepted a long time ago that my credit rating has been ruined but it really doesn't concern me at this point. So many more people are in worse shape than me and I am incredibly lucky to have options. As it is, I don't like to bail on the debt but if I were to work out the figures and calculate all the repayments I've made over the last number of years, I'd be nearly positive I've paid back everything. Its the interest and penalties that killed me.


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## Gerry Canning (1 May 2013)

johnnyman, nice answer.
Have one he got 20% from Friends 1st.
Have one Mbna 1,800 on 15,000.


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## johnnygman (1 May 2013)

salmon9077 said:


> johnnyman, nice answer.
> Have one he got 20% from Friends 1st.
> Have one Mbna 1,800 on 15,000.



is that settlement with MBNA or the collection agency?
20% on Friends first is a good deal. Halifax will deal at 15% I have on good authority for anyone thinking of doing a settlement.

€1800 on a €15k balance is first rate work, well done on that one!!


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## Gerry Canning (1 May 2013)

johnnygman said:


> is that settlement with MBNA or the collection agency?
> 20% on Friends first is a good deal. Halifax will deal at 15% I have on good authority for anyone thinking of doing a settlement.
> 
> €1800 on a €15k balance is first rate work, well done on that one!!


 On both i (prompted) customers as though they were negotiating and everything in writing but it took 3 months. In both cases though they were unsueable,we could show that and further chasing was no help to anyone, in fairness Friends and Mbna were pragmatic.On Mbna it was a collection agency but we insisted contract was with Mbna and we stayed staunchly with that until (someone) got tired.


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## Taz_CC (12 May 2013)

Hi all,

Update- returned home last week and found not one scrap of post relating to MBNA. This could either be one of two things: there really was no further communication beyond our emails and bits of post I received last year or my previous landlord is now binning my post rather than forwarding it to an alternative Irish address, as he had been doing.

I'm going to be here for a while and now that there's a possibility of a really good job, I may stay on. Not sure Canada is for me, despite being Canadian! I guess I'll just sit tight and deal with things if or when someone tracks me down. If it happens, I'll renegotiate a new settlement. 

Thank you all again for the great advice.

T.


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## RichInSpirit (12 May 2013)

So are MBNA really gone then. ?
Good ridance to them in my opinion.


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## Gerry Canning (13 May 2013)

RichInSpirit said:


> So are MBNA really gone then. ?
> Good ridance to them in my opinion.


 ..............................

Sadly not gone ;

 Re-incarnated under new owners Avante.

I expect Avante paid Mbna little enough for the business. BUT Avante will still hunt for 100% of what they claim Mbna is owed.
From reading threads people are still (terrified by these people) . Do not be bullied. If need be get a GOOD debt agency. I found Frost Debt Management helpful.


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