Mbna

[Smart cookie]

Hi! It's my 1st time on here, I need loads of advise, I'm at the stage where mbna have accepted a lower figure as full and final payment, but now they're saying it'll show as partial settlement on my file, also they've agreed to put it in writing that they will not chase the debt or sell the debt on, I don't trust them! Pls advise,

[QCKate]

Re: Mbna

Hi! It's my 1st time on here, I need loads of advise, I'm at the stage where mbna have accepted a lower figure as full and final payment, but now they're saying it'll show as partial settlement on my file, also they've agreed to put it in writing that they will not chase the debt or sell the debt on, I don't trust them! Pls advise,

welcome Smart Cookie

I think your wise NOT to trust MBNA from personal experience and what i've seen and heard from others. Im sure other beagles will be along shortly with advise on what to do - i'm not qualified to do that but I do know that you need to put/get everything very clearly in writing.

good luck

QCK

[Garlok]

Re: Mbna

Hi Smart cookie,

If you are in the process of Full and Final settlements may I suggest that you have a read around the forum on F & Fs before committing to anything with any financial institution. I won't repeat it all here but I put up what we did and achieved in the general debt forum in the sticky area under "Watertight F & Fs". Have a read and hopefully you will have a much better understanding of what you are dealing with. Cetelco also has some good reading on the subject as well.

Be aware that you are not dealing with relatively simple Statute Law in this but have entered the minefield of the Common Law of Contract and all the expensive baggage that goes with it if you don't get it right.

It is NOT easy, the mechanism is deceptively simple, the law behind it is NOT.

Come back and shout if you need anything further.

best regards
Garlok.