# Large CC debt with MBNA: filled out an income and outgoing expenditure sheet, advice?



## Wishes (17 Sep 2010)

I have quite a large credit card debt with MBNA that I am finding very difficult to meet the repayments on.  I haven't missed a payment yet but it's only time before I start defaulting.  

I have contacted MBNA and filled out an income and outgoing expenditure sheet with the prospect of lowering monthly repayments.  I have been turned down for this proposal.

I've since spoken to them and they urged me to continue paying the minimum payment which will not bring the balance down but will keep my credit history in tact.

When I said I would try and continue to make the minimum payment they argued with me by saying; if I could meet the minimum why had I wrote on my expenditure sheet that I couldn't  They said if I stopped making repayments they would have to write the debt off.  Does this mean pass the debt on to an outside source?

I have spoken to people who have got reputable debt management companies to act on their behalf and MBNA seem to agree to these proposals for some reason.

I am due to pay a minimum payment today.

Any advise would be more than welcome on what I should do next.

Thanks.


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## PaddyW (17 Sep 2010)

Have you asked them to lower the interest rate? They lowered it for me a while back and I hadn't even asked for it.


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## Wishes (17 Sep 2010)

Hi Paddy, they wont lower the interest because the card has went over it's limit.


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## PaddyW (17 Sep 2010)

Really? I wasn't over the limit either. Strange indeed.


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## Time (17 Sep 2010)

MBNA in my experience will only listen once the account is in arrears. Strange but true.
They sell on the debts once they are 8 weeks in arrears.


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## Peter54 (30 Sep 2010)

Wishes, they will not lower your interest rate if your card is over it's limit, has been suspended, missed more than three payments or it's overall balance has yet to be halved.

Crazy I know put the rules seem to change on a daily basis depending on which staff member you speak to.


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## fobs (30 Sep 2010)

I am with mbna and their rep told me if your account is in good nick they will lower your interest rate every year if you ask. Mine was reduced by 2% just by phoning and asking. found their customer loyalty dept very nice to deal with.


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## BazFitz (30 Sep 2010)

I've found them almost impossible to deal with.

When I knew I was running into difficulty, I called them to discuss the situation.  They refused to engage with me until I was in arrears.  What's the point in being proactive and on top of your affairs?!

When I went into arrears, I was asked to submit income and expenditure details with a view to having the interest and charges frozen and repaying the debt over 5 years.  I was advised that this was a formality based on my circumstances and that all I had to do was demonstrate the ability to meet the relevant 60 repayments.  So I did.  I was told that I'd be called after 3-4 days.  After 8 days, I called them to check the progress of the application and was advised that it had been rejected on the basis that I had demonstrated that I could afford the monthly minimum repayment.  I was abused and called a timewaster.  I was told that in order to get an instalment arrangement, one had to demonstrate that one cannot make one's minimum monthly repayment.  I was then asked to resubmit my details which I did in writing.  I still haven't received anything back from MBNA.  Staff call me every day harrassing me and telling me that I have to make my minimum monthly repayment.  My request for an instalment arrangement has been turned down because "I can't afford the relevant monthly repayment".  I told them that I'd a friend who was willing to aid me.  They requested that in writing from the friend in the form of an undertaking which we're (obviously) not willing to give for unsecured debt.  I've pointed out the contradiction here - They say I can't afford the instalment arrangement but keep hassling me and demanding the minimum monthly repayment.  If they say I can't afford the former, why do they demand the latter?  Each time someone else calls you, they know nothing of prior calls.  Some of the staff harrass you and can be abusive.  It's all very upsetting.

Should I just ask them to charge it off?


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## Wishes (30 Sep 2010)

Is it best if they sell the debt on?  Anything would be better than dealing with their staff.  

I can understand were you are coming from BazFitz.  They tackled me on were I was getting the money each month to pay them and albeit called me a liar when I said I was struggling.


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## Time (30 Sep 2010)

Don't answer private numbers or change your phone number. It is the only way to deal with their phone harassment.

Only deal with MBNA via the written word.


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## BazFitz (30 Sep 2010)

Wishes said:


> Is it best if they sell the debt on? Anything would be better than dealing with their staff.
> 
> I can understand were you are coming from BazFitz. They tackled me on were I was getting the money each month to pay them and albeit called me a liar when I said I was struggling.


 
As Time says, that's their other tactic. They call from private numbers and never leave a message. Then if they do get you, they abuse you for never answering your phone! I can't answer my phone during the day so I call people back. If that person doesn't leave a message and dials from a private number, I can't call them. They sometimes note in their files that they've spoken with you when they haven't. I've had staff call me a liar for disputing that their colleague spoke with me on a specific day. I actually specified in one of my letters that they should leave voicemails because I can't answer my phone.

I recently had credit card debt "charged off" by Halifax. Again I was trying to do my best and repay the money. Should I look to have the MBNA debt "charged off" too? My understanding is that the "charging off" appears as a blot on your ICB credit rating for a period of 5 years. But surely having a "zombie" MBNA debt hanging around would prolong the "black period". Given I've a debt charged off, would a clean break be better? I'm happy to rebuild my credit rating over the next 5 years. My mortgage is up to date as are all of my bills and a loan repayment.

Any advice appreciated.


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## Peter54 (30 Sep 2010)

fobs said:


> I am with mbna and their rep told me if your account is in good nick they will lower your interest rate every year if you ask. Mine was reduced by 2% just by phoning and asking. found their customer loyalty dept very nice to deal with.



I think the reason you were given a rate decrease was because your account was in good standing.  The problem seems to lie with customers who are in difficulty and have had their accounts suspended.


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## Wishes (6 Oct 2010)

As I mentioned in my opening post I have all payments up to date with MBNA.  I have informed them of my financial difficulties and they have done their utmost to find every excuse in the book so not to lower my interest rate.  I am fully servicing the debt but my card has slightly went over it's limit and now they are demanding further payments that I simply do not have.  

There are so many threads on this forum about MBNA I suppose I am just repeating what has already been said a thousand times before.  All I want is to clear the debt off but feel I'm being stopped at every turn from doing so.


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## Greta (7 Oct 2010)

If your card is only slightly over the limit, would it be possible for you to somehow find the money to reduce it to within the limit? While your card remains over the limit, is it incurring extra charges for that, increasing the minimum payment required from you?


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## Wishes (10 Oct 2010)

Time said:


> MBNA in my experience will only listen once the account is in arrears. Strange but true.
> They sell on the debts once they are 8 weeks in arrears.



Do you know if they sell the debt on if the card has went over its limit but no payment has been missed?


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## Time (10 Oct 2010)

No. If you are still paying they won't sell the debt. What they will do is cancel the card and terminate the agreement.


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## amanda1k (10 Oct 2010)

I have an MBNA CC for the last 7yrs.....4 of which I have been trying to pay it off.
Because I was in serious arrears they agreed to a monthly figure which was a percentage of what I owed and I've been paying it off for 4 years!!!!
Now my limit was only 1200 so wasn't huge but they were a nightmare to deal with......and they only agreed after I got in touch with the financial regulators office.
I had started to keep a log of EVERY phone they made to me and the name of every person.
In the space of 3 weeks they phoned 17 times!
The financial regulators office deemed it harrassment and as I had sent in a letter stating I was willing to pay an agreed ammount every month, and had kept a copy of this letter for myself, they were backed into a corner and had to agree......and best of all no more phone calls.


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## Wishes (10 Oct 2010)

Thanks Time.

Amanda1k, your post has got me thinking that it may be worth my while contacting the regulator.  I have tried my utmost to get them to agree to lowering my interest but they wont budge.  I have being paying for two years now and the debt is still going nowhere.  The interest they lob onto the account is just slightly lower than what I pay off the minimum payment so the balance is not reducing.


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