MBNA DEBT WRITTEN OFF

blacksmith105

This is a long story but since losing my job 15 months ago I have not been able to meet the repayments on my MBNA credit card. I have tried to make a small payment every month but this was consumed by the interest and late payment fees .

Anyway I told them that I was not working and asked them to help as I could not meet what they were asking for , received lots of calls from their India credit collections office and every time I explained i could offer a little every month but would they freeze the charges and interest to allow me to catch up .
That was six months ago and then they sent me an income and expenditure form to show my ability to meet repayments on the card
Then about two months ago I only received calls from the Irish office and they were very nice and understood what I was going through
I sent them all my social welfare income sheets showing that i was unable to meet repayments , anyway they have sent me a letter today saying that they are now giving me notice to write off the debt in full , its about 2800 euro in full . I called them to find out what this means and was told that they have written off the debt in full and its off their accounts , they did not know if this would be bought by a third party ie a debt collector but to check back in a week and they would know by then

Has anyone had anything similar happen to them and how did it end up

Royal Irish

I seriously doubt it will be written off. My guess is it have been sold on to a debt collector who will still pursue the money.

Please update this thread when you find out what the outcome of it been written off is.

chris85

It will definitely be passed onto a debt collection agency. No bank gets rid of the debt that easy for good. The debt collection agency will then collect most likely on behalf of the bank (most of the agencies here dont buy debt, only a few and on very specific accounts). If there will be a lot of work involved MBNA may feel the cost involved in carrying out all the work to have you pay it would be better to have it with an agency where they do all the work and the bank just get the money in.

WildBoots

When the debt collection agency starts asking you to cough up, ask them for a bill and also for any contract between you and them. If they are unable to do this send any further mail you receive back to them. Blank out your name on the envelope and write "No contract, return to sender" on the envelope.

For more information see freemanireland.ning.com

chris85

WildBoots wrote: »

When the debt collection agency starts asking you to cough up, ask them for a bill and also for any contract between you and them. If they are unable to do this send any further mail you receive back to them. Blank out your name on the envelope and write "No contract, return to sender" on the envelope.

For more information see freemanireland.ning.com

ok fair enough but the debt is owing. MBNA will have contract and bills on file, they are very good for that. Get them if you need them but main thing to to deal with the agency and get an arrangment made with them that you can afford, then keep to the payments agreed and contact them if any issues.

MADoverMBNA

Watch out now blacksmith, theres people on here who might see your post and give out to you for being a bold little boy for not having paid MBNA like a good little boy!
No names were mentioned in the making of this post!

Toots

MADoverMBNA, if you have no helpful advice to add, please don't bother posting.

Mick41

Hi,
I have been unemployed for a while and have just started a temp job this month. I explained to MBNA that I would try and pay off some of my card each month when I was unemployed which I did. I noticed after complaining bitterly about the harrasing 7 phone calls a day from a machine that couldnt even pronounce my name correctly that it all went quiet even though I had asked them to keep in contact with me and how much do I need to pay each month to keep them off my back. Never got an answer to that and everytime I asked they pulled back. Got a letter in March telling me they had overcharged me 330 euro but I still need to pay a payment that month ( law upon themselves ).
They have now served me with a notice of intention to file a debt write-off/default.

I have not told them I am starting to work again and was going to do it this week. I have to ring them in the morning as they are uncontactable after1 pm Sat and Sunday and I was only home on Saturday evening.

I am being made to feel like a common crook by a shower of bullies.

As one of their customer service people told me on sat after holding for 20 mins that they were not helped out by the Irish Tax payer and they didnt need nama I now discover they are part of Bank of America which was bailed out beyond believe,

Any advice before I try to talk to them in the morning is very much appreciated,
Thanks,
Mick

blacksmith105

Letter from MBNA states as follows

We write to you to advise of our intention to register a debt write off/default on your account as you have informed us that you are unable to maintain your contractual monthly payments , this will result in the registration of a write off with the irish credit bureau and a default with the experian credit reference agency

That registration will happen no sooner than 28 days after the date of this letter and it may impact your ability to obtain credit in the future. To assist you and help avoid the impact to your credit files , you many avail of the following options, if you financial position has improved since our last contact with you .

If your circumstances have changed recently and you are now able to

Pay the outstanding balance in full or
Pay a lump sum against that balance

Any ideas

funkyjebus

if you cant pay debt this is put to your credit rating and stays thedre for five years. in that time you wont get any loans or credit cards. afaik if you apply and get turned down within those five years that is also noted for five years. the bank wont have written that off, a debt collection agency will be on to you.

Mountjoy Mugger

Please also note, that if a judgement is issued against you it will remain on file for life in the ICB - according to Pricewatch in today's Irish Times

blacksmith105

i am not too concerned about my credit rating at the moment to be honest , i think the banks and cc companies tend to stick their head in the sand and assume that we are still in full employment and all is well

Over the past 10 years I reckon i have paid thousands in interest and fees to mbna , i did receive a letter to say they had overcharged me and gave me 56.00 euro but i have no idea how to calculate how much they really owe me

Anyway I cant pay them its not i dont want to pay them I CANT simple as that I dont have it to give to them .
This credit rating thing is being used as a stick to frighten people with , banks will have to adopt a system to look at a persons overall circumstances and take into account whats going on in the real world. I have no plans to take on any extra credit in the near to medium future
So now its down to dealing with a debt collection agency ,has anyone got any tips on how to deal with these people
I owe MBNA 2000 but they wacked on interest and late patment fees to the tune of 800 over the past 10 months despite me begging them to freeze the interest

chris85

blacksmith105 wrote: »

i am not too concerned about my credit rating at the moment to be honest , i think the banks and cc companies tend to stick their head in the sand and assume that we are still in full employment and all is well

Over the past 10 years I reckon i have paid thousands in interest and fees to mbna , i did receive a letter to say they had overcharged me and gave me 56.00 euro but i have no idea how to calculate how much they really owe me

Anyway I cant pay them its not i dont want to pay them I CANT simple as that I dont have it to give to them .
This credit rating thing is being used as a stick to frighten people with , banks will have to adopt a system to look at a persons overall circumstances and take into account whats going on in the real world. I have no plans to take on any extra credit in the near to medium future
So now its down to dealing with a debt collection agency ,has anyone got any tips on how to deal with these people
I owe MBNA 2000 but they wacked on interest and late patment fees to the tune of 800 over the past 10 months despite me begging them to freeze the interest

Some offer of payment will need to be made. If this is not done the agency will have instrcution to obtain a judgment against you so try to make some offer forward.

Mick41

Spoke to MBNA today and what a company to deal with. Felt at the end like a common crook and when I said to them they had taken 18 million for their customers was told we admitted our mistake. They are looking to screw people to the ground and then dance on them. They seem to have forgotton that I am still a customer. Going to go to MABS and then the finanicial regulator and report the conversation I had with them. They told me they gave me a figure 6 months ago that I could pay each month and I called them liars as they never did. They are looking to get money back at all costs and I am still negotiating with them and they are to come back to me but the way I was spoken to and dealt with them means I will not let this drop as I have already won a case after 9 months against the HSE which was overturned by the omsbudsman to pay my rent as an unemployed father. My case recieved alot of press coverage so bring it on MBNA and treat people as human beings as you are part of the greedy that put us were we are.

chris85

Mick41 wrote: »

Spoke to MBNA today and what a company to deal with. Felt at the end like a common crook and when I said to them they had taken 18 million for their customers was told we admitted our mistake. They are looking to screw people to the ground and then dance on them. They seem to have forgotton that I am still a customer. Going to go to MABS and then the finanicial regulator and report the conversation I had with them. They told me they gave me a figure 6 months ago that I could pay each month and I called them liars as they never did. They are looking to get money back at all costs and I am still negotiating with them and they are to come back to me but the way I was spoken to and dealt with them means I will not let this drop as I have already won a case after 9 months against the HSE which was overturned by the omsbudsman to pay my rent as an unemployed father. My case recieved alot of press coverage so bring it on MBNA and treat people as human beings as you are part of the greedy that put us were we are.

TBH why did you bring up the matter of overcharging. Its got no relevance to you repaying the debt and just gets matters off topic. yes they overcharged and are refunding the money so wont help matters and has no relevance.

You must put in a complaint with MBNA and get a final response for the financial services ombudsman will take on any case and there is no way about that. Complain to them formally and get the response. If unhappy with it then go to ombudsman.

also do go to mabs and get help to pay this back.

And seriously we all must take responsibility of where we are now. The banks ran loose and wild but we were loving it. People going mad buying second houses and keeping up with Jones. it was all a massive bubble we all created and burst right in our faces. I know plenty of people who got in debt by buying the latest car and the best entertainment systems on their credit cards and so forth. Madness to be honest. The banks played a big role in it alright.

Mick41

TBH Chris I feel the MBNA overcharging people has alot to do with it they set their own rules for repayment to people. I am in debt due to unemployment, paying for a ex wife who used the system in this country and trying to keep things going with the banks for me and my son. I have done the right thing in Ireland and followed the rules and when I ask for some compassion I am slaughtered by a company that have been bailed out. Who are they to tell people that have tried to do the right thing and be HONEST they are wrong. Yes there is the jones out there but I am not one of them. I just tried to survive

mortgage

blacksmith105 wrote: »

This is a long story but since losing my job 15 months ago I have not been able to meet the repayments on my MBNA credit card. I have tried to make a small payment every month but this was consumed by the interest and late payment fees .

Anyway I told them that I was not working and asked them to help as I could not meet what they were asking for , received lots of calls from their India credit collections office and every time I explained i could offer a little every month but would they freeze the charges and interest to allow me to catch up .
That was six months ago and then they sent me an income and expenditure form to show my ability to meet repayments on the card
Then about two months ago I only received calls from the Irish office and they were very nice and understood what I was going through
I sent them all my social welfare income sheets showing that i was unable to meet repayments , anyway they have sent me a letter today saying that they are now giving me notice to write off the debt in full , its about 2800 euro in full . I called them to find out what this means and was told that they have written off the debt in full and its off their accounts , they did not know if this would be bought by a third party ie a debt collector but to check back in a week and they would know by then

Has anyone had anything similar happen to them and how did it end up

yea the exact same thing except i actually did a deal with a guy in clare offices. he asked me a series of questions about my current situation and basically wrote down the loan. i had been repaying an agreed sum monthly but soon after i lost my job and am recieving letters from intrum justia now, threatening me with a debt collection agent. (i hope he can find something when he calls, cause i cant!) anyway they have also told me that my credit is affected but i really couldnt give a **** about that as i havent banked for nearly 2 years and never will either. my advice to you would be to call the number and ask for the details of the original loan and the details of any agreement made. they will continue to send you bull**** threats but now return the letter, return to sender no contract. if a guy actually calls (he wont) he cant take anything as he dosent know who owns it. in my case if he calls and takes something i will be instructing my wife to call the garda and tell them his name and the reg of the car and that he stole her property. i only advise this as i actually paid thousands more than the loan anyway and am confident that no judge in ireland would even entertain their claim. anyway even if they get a judgement they will then have to get an enforcement order at a later court sitting. the judge will then ask what you can afford and if you are like me, unemployed it will be about €5 per week, i will pay thay ammount! but it will have cost them thousands. DO NOT AVOID COURT SHOULD YOU GET A SUMMONS as the judge will look poorly on this. this is the advice my solicitor gave me.

chris85

Mick41 wrote: »

TBH Chris I feel the MBNA overcharging people has alot to do with it they set their own rules for repayment to people. I am in debt due to unemployment, paying for a ex wife who used the system in this country and trying to keep things going with the banks for me and my son. I have done the right thing in Ireland and followed the rules and when I ask for some compassion I am slaughtered by a company that have been bailed out. Who are they to tell people that have tried to do the right thing and be HONEST they are wrong. Yes there is the jones out there but I am not one of them. I just tried to survive

What i am saying is its not just the banks fault we are here so it wont help with the chip on the shoulder with them. We all created a culture inflating the bubble which burst. The banks have a massive responsibility for this but not solely them to blame. The staff may be rude and do put in a formal complaint over it as they should treat you with respect.

Negotiate with mabs to make payments. If you are unable to meet the banks demands then do put in what you can afford into the account until mabs can get you in. Write to them clearly outlining this effort until mabs get on board.

The staff in there will be sick of hearing about bank crisis and so forth. MBNA are not part of Irish bailout eitherway so not costing our taxpayers any money for them. Bringing up the overcharging issue will be something the staff wont take very well as not relevant. They overcharged, admitted the mistake and are working to fix it. What more cant they do about it now.

Mick41

Yes Chris I agree that greed has caused alot of problems but MBNA are owned by Bank of America and were bailed out in the US. I rent a house and the guy that was here before me owes 10.2 million to the bank and fraudently used this house to borrow for his business. Staff in banks have signed off fraudlent loans all over the world yet not one has been held accountable so thats why I have a chip on my shoulder because in this instance it looks like the bully boys will win

chris85

Mick41 wrote: »

Yes Chris I agree that greed has caused alot of problems but MBNA are owned by Bank of America and were bailed out in the US. I rent a house and the guy that was here before me owes 10.2 million to the bank and fraudently used this house to borrow for his business. Staff in banks have signed off fraudlent loans all over the world yet not one has been held accountable so thats why I have a chip on my shoulder because in this instance it looks like the bully boys will win

I would imagine the chip is what is halting negotiations in this case. ITs very common and completely irrelevant. It wont help you in any way.

They were bailed out elsewhere and not by the Irish taxpayer so why would that bother you? And about your friend fraduently borrowing on the house, thats a massive deal and he has defrauded a bank. They might have lacked security checks fair enought but obviously both in the wrong.

I wont debate banks and bailouts as that has its own thread elsewhere but the attitude coming accross in the posts will not help negotiations with the bank.

Mick41

Firstly the guy in the house before me was not my friend!! Never met him.
As for bailing out the banks everybody is suffering and what has my back up is accountablitity. They are going after easy targets and if poeple saw that it was across the board they wouldnt be as annoyed and angry

stepbar

Mick41 wrote: »

Firstly the guy in the house before me was not my friend!! Never met him.
As for bailing out the banks everybody is suffering and what has my back up is accountablitity. They are going after easy targets and if poeple saw that it was across the board they wouldnt be as annoyed and angry

So Mick are you trying to say that you shouldn't have been given the credit card in the first place? Sounds like it.

Might be time you started taking "accountability" yourself as well.

Mick41

Stepbar go back and read the thread. Idiot

chris85

Mick41 wrote: »

Stepbar go back and read the thread. Idiot

easy on there. no wonder you are having no luck with the bank. maybe loose the attitude first.

Mick41

Too be honest shouldnt have called u what I did Stepbar but to be honest both you and Chris seem to come across as lecturing people without any experience of situations and what life throws at you. Myabe I am wrong

Ash121

Hey, I received the same letter from MBNA today. I am now a mature student, having lost my job 2 years ago. I will be in college for another 3 years. I used to find MBNA very hard to deal with but in the last year I have found them pleasant. They do sometimes in fairness try to scaremonger me with the "this will effect your credit rating" but it fails to scare as my credit rating went downhill many years ago. Before I received this letter today my current understanding that I have with them is that they ring me a week before my payment needs to be made, usually its no more than €100. I pay it and I do not hear from them for the rest of the month. My last conversation I had with them was when I was giving them my lazer card number for a payment a few weeks ago. The lady told me they would be calling me soon to try and get a 5 year payment plan sorted so that the debt will be payed of in that time. I said this was fine and I would be happy to talk to them about that and then i receive this letter today. I cannot imagine that they will not be handing this over to some sort of debt collecting company but I cannot see why a debt collecting agency would bother taking my account off MBNA. I have no assets and my current circumstances will not be changing for many years. I suppose I am hoping that they really are going to write it off as it would mean I might actually be able to afford the bus to college next year!!!

stepbar

Mick41 wrote: »

Too be honest shouldnt have called u what I did Stepbar but to be honest both you and Chris seem to come across as lecturing people without any experience of situations and what life throws at you. Myabe I am wrong

Lecturing!!!!!!

You don't seem to think you've done anything wrong. You seem to be angling towards the view that you should get some sort of bailout because of your "circumstances". I don't see why I (and others) should have to suffer because you can't manage your finances.

chris85

Mick41 wrote: »

Too be honest shouldnt have called u what I did Stepbar but to be honest both you and Chris seem to come across as lecturing people without any experience of situations and what life throws at you. Myabe I am wrong

very arogant view there. I am basing my opinions of you clearly on your statements so far. i have given very clear advice that will help which hasnt been acknowledged at all. Your attitude is so far off and no wonder cant deal with MBNA.

Mick41

Yet again Stepbar I ask you to read what I wrote instead of your knee jerk reaction. Never once did I ask for Bail out just some compassion to peoples circumstances.


Chris. thanks for your advice

Mick41

You don't seem to think you've done anything wrong. You seem to be angling towards the view that you should get some sort of bailout because of your "circumstances". I don't see why I (and others) should have to suffer because you can't manage your finances

ripo

I am a mature student, took out a loan before the economic crash for college, and house experiences. I originally took out the loan with AIB.

At this point in time I had a full time job too and was making enough money to be comfortable. MBNA posted me a letter to apply for a credit card, and an option to transfer my loan for 0.0% APR for first 6 months - which I thought was great (at the time)

I decided to apply to MBNA for a credit card, and when i was accepted I transferred my loan from AIB to MBNA officially closing my loan with AIB.

The first 6 months was great with MBNA, no interest and things were a lot easier. when the 6 months free APR ended I also was let go from work, as the economic crisis was starting to have an effect on the jobs market. The problems were just warming up for me at this point in time.

I though very little of the problem, as I have a good combination of skills & certificates to get new employment. This proved wrong when each job application was turned down, as the jobs market was suffering.

To summarise in short. I had roughly €4200 debt with MBNA, in which I arranged a settlement to pay pay €89 per month. they freezed interest too.

I was falling behind in rent, ESB, and other general bills and could no longer afforf the €89 per month, as bad as it sounds i was living of toast and beans at this stage...

As good as social welfare payments are in Ireland, I was struggling to pay for high end rates in Dublin, and walked everywhere (unable to afford a bus)

a couple of months passed and MBNA are contacting me on a daily basis, as I can't afford I did the worst possible thing, and ignored their calls as was frighted of what could happen. Ireland is one of few countries with a back dated system, (1940's) that still imprisons people who fail to pay debt.

Today I got a call from a lady indicating she where she was from, quite rude (but this I can understand) as never paid my bills.

for the sake of a future criminal conviction and possible imprisonment I have decided to take responsibility pay my debt, through a debt relief agency. I'm looking to pay back €5 Euro per week, until I get employment again.

I have a feeling if I leave the debt unattended it may get worse, and I could find my self being sent to court,

The banks must also take responsibility as they lent money to everyone in the boom, to maximise there earnings, although I understand i must take responsibility to as I took out the loan. (when the economy was good) . how was I to know i was going to lose my job and witness a world wide economic crash. it 3 years now, that we are in this economic mess, and looks like another decade to come.

I have being feeling pretty down with my self in the past year, and find it hard to see anything positive, although hanging in there to handle this mess out!