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Hi
Totally new to forums so sorry if i don't use all the "hip" words!
I'll try to be brief -
Took out MBNA card in 1991. Two years ago I balance transferred some money to it and was told over the phone it would be interest free for 12 months and then go to19% - at the end of the year it did - and then it increased to 32%. I struggled on like an idiot trying to pay the additional charges for well over a year but eventually about 6 months ago I had to stop paying it after two or three phone calls asking if they would reduce the interest rate which they wouldn't and arguing I hadn't agreed to 32% interest. I asked for the WAV file recording of my conversation which they have never been able to produce.
I started to get phone calls saying i hadn't paid and on one I said I couldn't afford to pay them becuase they were asking for too much and i was only paying the other credit card companies as MBNA had put me in the position where I coouldn't afford to repay them, at this point i was told I was in breach of my credit agreement and coudn't treat one differently from another. I rang the Consumer Credit Council who insisted this was true and I must put mysef into a debt management plan. I did this but now I am beginning to wonder if I made a big mistake and should have fought my corner with MBNA.
I had a phone call from Money Claiming Experts last week which prompted me to your site to have a look at them, so I won't be persuing that but I now realise lots of people on here have had problems with credit card interest hikes and debt and I thought i was the only one!
Not sure what I should do now that I am only paying them a small amount and have a debt plan, I feel like a leper after never having credit issues before!
Can I still argue that I don't feel the interest rate was legal, or that they wouldn't help me by reducing it. I have paid my £1 and asked for my contract which they sent but they sent it with a new set of terms and conditions with my present address so I know these may not be the correct ones that I signed for many years ago. I realise now I should have written with my complaint before any of this got out of hand but now not sure what to do or if I have been treated wrongly in the eyes of those who are in the know....that's you guys!
Any advice would be gratefully received.
Thanks
H
Totally new to forums so sorry if i don't use all the "hip" words!
I'll try to be brief -
Took out MBNA card in 1991. Two years ago I balance transferred some money to it and was told over the phone it would be interest free for 12 months and then go to19% - at the end of the year it did - and then it increased to 32%. I struggled on like an idiot trying to pay the additional charges for well over a year but eventually about 6 months ago I had to stop paying it after two or three phone calls asking if they would reduce the interest rate which they wouldn't and arguing I hadn't agreed to 32% interest. I asked for the WAV file recording of my conversation which they have never been able to produce.
I started to get phone calls saying i hadn't paid and on one I said I couldn't afford to pay them becuase they were asking for too much and i was only paying the other credit card companies as MBNA had put me in the position where I coouldn't afford to repay them, at this point i was told I was in breach of my credit agreement and coudn't treat one differently from another. I rang the Consumer Credit Council who insisted this was true and I must put mysef into a debt management plan. I did this but now I am beginning to wonder if I made a big mistake and should have fought my corner with MBNA.
I had a phone call from Money Claiming Experts last week which prompted me to your site to have a look at them, so I won't be persuing that but I now realise lots of people on here have had problems with credit card interest hikes and debt and I thought i was the only one!
Not sure what I should do now that I am only paying them a small amount and have a debt plan, I feel like a leper after never having credit issues before!
Can I still argue that I don't feel the interest rate was legal, or that they wouldn't help me by reducing it. I have paid my £1 and asked for my contract which they sent but they sent it with a new set of terms and conditions with my present address so I know these may not be the correct ones that I signed for many years ago. I realise now I should have written with my complaint before any of this got out of hand but now not sure what to do or if I have been treated wrongly in the eyes of those who are in the know....that's you guys!
Any advice would be gratefully received.
Thanks
H
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