MBNA - Aktiv Kapital x 2

[JammyDodger41]

I am wondering if I have done the right thing with regards to two MBNA debts. We acknowledge the debts and had an agreement with MBNA to pay those. The debts were passed onto Aktiv Kapital last year. I have checked our Credit File and it states Aktiv Kapital as now owning the debts and the MBNA information is showing as settled. I began making payments to Aktiv Kapital for both debts and have continued to do so. I am wondering now if I was too hasty in just accepting that I should pay Aktiv Kapital. I didn't send a Prove t Letter , I just paid them what I had been paying MBNA previously.

Have I done the right thing here do you think and should I continue to pay Aktiv Kapital please ?

Any advice as usual, greatly appreciated.

Thankyou.

[JammyDodger41]

Re: MBNA - Aktiv Kapital x 2

With regards to the above, I have continued to make payments for both accounts since the last post.

I have today received a letter in relation to the smaller of the debts offering the following -

" Following a recent review of your Aktiv Kapital account we can see that you have been making payments to a money or advice agent. They have been forwarding your payments each time so we thank you for maintaining your arrangement.

We would like to reward your commitment by offering the opportunity to clear your account with a fantastic discount. You pay £2426.40 by the 30th April 2013. The remaining £269.60 will be cleared. You can settle your account with this discount and you will not have to pay for any remaining balance. This is a genuine offer to settle and guaranteed to save you ten percent of the amount due.

If you would like to accept this offer , payment must be received before 30th April. If you cant benefit from our offer at this time, please continue to make payments as you do now.

I am unable to make a payment of £2426.40 as they have suggested but assume that they now are willing ot negotiate on this. This is our smallest creditor and we had been hoping to make a Full and Final offer to them at some point this year.

Is it worth trying to enter into further negotiation with them at this time ? I could possibly offer them between £700 and £900 in the next few months to settle the debt which I know is significantly off of the figure they are requesting or shall I sit tight , continue with the arrangement and see if they make me another offer further down the line ?

Any advise much appreciated. Thankyou .

[PlanB]

Re: MBNA - Aktiv Kapital x 2

At the risk of sounding cynical creditors tend to make discount offers when they know a debt may not be 'collectable' or enforceable in a court of law :wink: I don't think a 10% discount is enough to bite their hand off either.

How old are these MBNA debts (when did you open the accounts?) because Aktiv Kapital bought a book of MBNA's UE debts recently. If you send them a s.78 CCA request you can establish whether it's worth disputing these accounts. AK were reprimanded by the OFT for chasing disputed debts so they know when they have to back off:

http://www.oft.gov.uk/news-and-updat...ay?prid=755221

[MIKE770]

Re: MBNA - Aktiv Kapital x 2

wow their usual generosity = NOT! chancers, must bonus time coming up for their illgotton frudulant games. get onto CCA1974 request, they threaten blood & thunder so stop them in their tracks if you can, their offers mean nothing to you only their pockets look at their site and see payment plans + discounts./?

[PlanB]

Re: MBNA - Aktiv Kapital x 2

Flaming Parrot is on holiday this week otherwise she would have posted this link to s.78 CCA Request sample letter - so I'll have to do it for her :typing:

http://www.legalbeagles.info/forums/...765#post311765

[JammyDodger41]

Re: MBNA - Aktiv Kapital x 2

No I would never have settled at a 10% discount anyway. The MBNA debt they have written about must be approx 5 years old I think,the other which is significantly more money is approx 13 years old. I have never sent the CCA request to them as per the original post in March. As I could see form the credit file that they owned the debts I paid them as per the agreements we had with MBNA before they were sold to Aktiv Kapital.

I will read the thread you have attached thankyou. IT sounds though as if you think I should send a CCA request for both accounts ?

[JammyDodger41]

Re: MBNA - Aktiv Kapital x 2

Thankyou, yes Flaming Parrot has been helping me out with an Arrow Global account as well.

At a risk of sounding completely dim, if the CCA request cant be provided what happens then ?

[PlanB]

Re: MBNA - Aktiv Kapital x 2

Thankyou, yes Flaming Parrot has been helping me out with an Arrow Global account as well.

At a risk of sounding completely dim, if the CCA request cant be provided what happens then ?

Zippo, nada, nothing. Without a CCA a creditor cannot get a CCJ but that doesn't stop them trying so keep your eye on the ball and post up what comes back from Aktiv Kapital. Send one request for each account.

Good Luck :beagle:

[JammyDodger41]

Re: MBNA - Aktiv Kapital x 2

So I just stop paying ? Seems wrong when I know I owe the money doesnt it ?!! What happens with the credit score etc as obviously that shows I owe Aktiv Kapital although the original MBNA debt is showing as settled I believe.

Sorry for all of the questions !

Thankyou

[PlanB]

Re: MBNA - Aktiv Kapital x 2

So I just stop paying ? Seems wrong when I know I owe the money doesnt it ?!! What happens with the credit score etc as obviously that shows I owe Aktiv Kapital although the original MBNA debt is showing as settled I believe.

A wise DJ once said "we're here to judge facts not morals". I'm sure you'd pay them if you could, but right now you can't afford it. That's not debt avoidance that's a fact of life.

You would have got a Default marker on your credit file when you first defaulted (i.e. when you missed a contractual payment). That remains on your file for six years and then falls off regardless of the state of your account even if the debt is still outstanding. You can only be defaulted once in a debt lifecycle so if MBNA defaulted you four years ago then you've only got two years to go. AK can't add a second default.

[JammyDodger41]

Re: MBNA - Aktiv Kapital x 2

Thankyou. To be honest the older MBNA card has probably been paid off 10 times over, so I really shouldn't worry too much . I will get the CCA requests sent off....watch this space..................................

[javorb5]

Re: MBNA - Aktiv Kapital x 2

mbna are a nightmare ,i was 100% sure they defaulted me as did all of my other creditors ,all defaults have dropped off but mbna did not default me they marked my account delinquent,mbna told me they do not default you if you pay them reduced figures,they seem to be a law unto themselves

[FlamingParrot]

Re: MBNA - Aktiv Kapital x 2

I am wondering if I have done the right thing with regards to two MBNA debts. We acknowledge the debts and had an agreement with MBNA to pay those. The debts were passed onto Aktiv Kapital last year. I have checked our Credit File and it states Aktiv Kapital as now owning the debts and the MBNA information is showing as settled. I began making payments to Aktiv Kapital for both debts and have continued to do so. I am wondering now if I was too hasty in just accepting that I should pay Aktiv Kapital. I didn't send a Prove t Letter , I just paid them what I had been paying MBNA previously.

Have I done the right thing here do you think and should I continue to pay Aktiv Kapital please ?

Have you received a Notice of Assignment stating Aktiv Crapital now own the debt?

Flaming Parrot is on holiday this week otherwise she would have posted this link to s.78 CCA Request sample letter - so I'll have to do it for her :typing:

http://www.legalbeagles.info/forums/...765#post311765

Much appreciated! :yo: Plan B to the rescue as ever! :clap2:

No I would never have settled at a 10% discount anyway. The MBNA debt they have written about must be approx 5 years old I think,the other which is significantly more money is approx 13 years old. I have never sent the CCA request to them as per the original post in March. As I could see form the credit file that they owned the debts I paid them as per the agreements we had with MBNA before they were sold to Aktiv Kapital.

I will read the thread you have attached thankyou. IT sounds though as if you think I should send a CCA request for both accounts ?

Indeed you should!

So I just stop paying ? Seems wrong when I know I owe the money doesnt it ?!! What happens with the credit score etc as obviously that shows I owe Aktiv Kapital although the original MBNA debt is showing as settled I believe.

Up to you whether you want to wait till you get responses to your CCA requests. Bear in mind that, as long as you are making payments, even as little as £1/month, the debt will never go Statute Barred. As for owing the money:

1. Aktiv Crapital would have paid no more than 10% of the alleged balance, as is customary with debt purchasers, the rest is pure profit
2. As for MBNA, what can I say that hasn't been said before, I stopped paying when they jacked up the rate to 36% in 2009, after 15 years of making payments without a single missed or late payment, suddenly the rate was comparable to that of a sub-prime product! :rant: :rant: :rant: And this was when the BoE dropped interest rates close to zero to stimulate the economy, MBNA took advantage of this to line their pockets! :mad2: :mad2: :mad2:

A wise DJ once said "we're here to judge facts not morals". I'm sure you'd pay them if you could, but right now you can't afford it. That's not debt avoidance that's a fact of life.

You would have got a Default marker on your credit file when you first defaulted (i.e. when you missed a contractual payment). That remains on your file for six years and then falls off regardless of the state of your account even if the debt is still outstanding. You can only be defaulted once in a debt lifecycle so if MBNA defaulted you four years ago then you've only got two years to go. AK can't add a second default.

Indeed! The Consumer Credit Act is there for a reason, yet many lenders took no notice whatsoever and did what they wanted, thinking they were above the law. Or they are just so disorganized and arrogant that they can't find any paperwork. That's precisely my case with MBNA, no agreement retrieved for my account, thus no payments made since Jan 2010! :clock: :dance: :dance: :dance:

As AK are debt purchasers, they will have to obtain the documents from MBNA, who may or may not find anything. It is unlikely they will respond within the 14 days, if they don't, the account will be unenforceable until they respond with something compliant. :grin:

[CleverClogs]

Re: MBNA - Aktiv Kapital x 2

As AK are debt purchasers, they will have to obtain the documents from MBNA, who may or may not find anything. It is unlikely they will respond within the 14 days, if they don't, the account will be unenforceable until they respond with something compliant. :grin:

How often has that been known to happen?

[JammyDodger41]

Re: MBNA - Aktiv Kapital x 2

Thankyou everyone.You have all been very helpful as usual. I have sent the requests and will be in touch if / when I hear anything more from them.