L
I have a credit card with MBNA with a balance if 11,800 of which 1,600 is arrears. I have been paying off 180 a month with them but they keep saying they need me to pay off more and are hounding me with calls and letters. Luckily I have managed to get 7000 from my dad to pay off but my question is do you think if I tell them I can raise a certain amount of cash to pay it off that they would accept 7000 to clear the debt in full? Also, is there any advice on how I would say this to them?
they will not give a reduction if you pay cash PERIOD! they will ask you for the full amount in which you spent which is your fault because you spent it. MBNA are very very bad co when you are in arrears so just pay the 7k and keep up the 180pm until its cleared.....also freeze the account or close it totally
Thank you all for replying. I suppose I should have stated that I haven't used this card in 4 years and being out of work for almost a year added a lot of interest and fees to the balance that started as just under 9K. I know I am responsible for spending and maxing out this card but I am just one of thousands of people that have been foolish with credit. My card started at 1500 limit and within 2 yrs I had 6K at my fingertips without ever requesting an increase. This is where the credit card companies get the weak ones, like me to spend it like I own it. Anyway, I am going to call them with an offer like Graftgirl did (thank you graftgirl!) and see what happens. I will let you know what happens...
livi, please let us know how u get on and i hope they do come to some arrangement because mbna are scum when u owe them $$.
You could try this. Whats the worst that could happen?
http://www.mindwarpsectorfour.com/creditcard.html
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