Advice re Debt - I obtained a MBNA Credit Card in 2005 before I got married!!

[Deleted User X18H]

I used it for Honeymoon transactions etc.

We then moved house in November 2005 and I honestly forgot about the card I didn't have a DD set up and I suppose for some reason they couldn't locate my new address and the post re-direction was a bit hit and miss.

Anyway my point is they found me at my new address not that I was hiding and presented me a bill of £718 for a now expired credit card with lots of charges added.

So I offered just under 50% as full and final settlement and they accepted so my advice is negotiate with your creditors if you have them, it is a willing debtors market!

 

[Tony Meolas Loan Spell]

Also shows they will track you down as well eventually!

By the way its Reinault...

 

[Deleted User X18H]

By the way its Reinault...

You sure!!??

 

[pasty]

By the way its Reinault...

Oh no it isn't

 

[Tony Meolas Loan Spell]

I stand corrected then

 

[Alby]

probably got a nice black mark on your credit history now. not only will it show a bad repayment history will also show made arrangement with creditor.

Didnt matter so much when credit was easy to obtain but will in the future as Lenders use any bad information to hike up the rate they offer you or even refuse credit as you are a 'bad' risk.

 

[Deleted User X18H]

Sadly I do have an adverse mark on my file at the moment re this however Experian advised me it would not affect my rating that much as my other arrangements are exemplary!!

 

[Horton's halftime iceberg]

You would have dealt with a collections/debt agency that would have paid a small fee for your outstanding cash to MBNA. By going 50/50 both parties get a return, as stated you will have been loaded as a bad debter and will have to build up your credit record again.

 

[Brighton1]

I used it for Honeymoon transactions etc.

We then moved house in November 2005 and I honestly forgot about the card I didn't have a DD set up and I suppose for some reason they couldn't locate my new address and the post re-direction was a bit hit and miss.

Anyway my point is they found me at my new address not that I was hiding and presented me a bill of £718 for a now expired credit card with lots of charges added.

So I offered just under 50% as full and final settlement and they accepted so my advice is negotiate with your creditors if you have them, it is a willing debtors market!

I assume that your credit history will now be ruined, I suggest that you re-contact MBNA and ask if as part of your settlement that they will wipe your credit history on your MBNA card as part of the settlement. Otherwise if you now apply for credit or new mobile on contract etc you will have a real problem as your history will show a default and you will fail most credit scores..

 

[Deleted User X18H]

I assume that your credit history will now be ruined, I suggest that you re-contact MBNA and ask if as part of your settlement that they will wipe your credit history on your MBNA card as part of the settlement. Otherwise if you now apply for credit or new mobile on contract etc you will have a real problem as your history will show a default and you will fail most credit scores..

I have already spoken to a nice lady at experian re this !! MBNA pretty much forgot about it as well they cannot prove via section 7 request that they made much attempt to contact me. The lady at Experian said my score is still above moderate!! MBNA did not proceed to Default stage ...........so far! Sadly last time I checked in 2006 my score was good!

 

[deletebeepbeepbeep]

Just buy your score from experian to check?? It's only £5?

 

[seagullsovergrimsby]

How can you accidentally forget having a credit card which you have charged transactions to ?

 

[Deleted User X18H]

How can you accidentally forget having a credit card which you have charged transactions to ?

I'll give you that!!!

 

[AJWile]

Hello,

Can you help me please, i have payment protection on my MBNA credit card and to be honest i can not remember ever asking for it.
My income is based on 2 jobs, as i have a part time job as well.
Does this affect my protection if i lost my main income?
I have been working 2 jobs for the last 10 years, so god knows how much payment protection i have paid on my credit card.
Is my ppi invalid?
Any help please?

 

[Deleted User X18H]

I thought someone might go find this . As you appear extremely interested I obtained a new Amex Card in September.

 

[parks]

Do you think I could say "I honestly forgot about the mortgage"....

yeah right...

 

[seagullsovergrimsby]

I thought someone might go find this . As you appear extremely interested I obtained a new Amex Card in September.

Is it black or platinum ?

 

[Deleted User X18H]

Do you think I could say "I honestly forgot about the mortgage"....

yeah right...

You could try but I'd look out for Pickfords.