MBNA debt bought by Link - don't know what to do - can anyone help please?

[Massamum]

I have an MBNA credit card that was terminated a short while ago. I received a letter from Link Financial saying they've bought the debt. After reading on here how quick Link are to get charging orders I wondered if someone would be able to advise me on the best course of action here. It was an online application (c. 2007) so I'm guessing its enforceable. The question is, what is the best way forward regarding Link's letter? Should I write to them offering £1 token payments (thats what I was paying MBNA). Would be grateful for any suggestions/ideas as I'm dead scared that if I ignore them it'll make things much worse.

 

I've added a link to my original post below.

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/189152-drowning-debt-please-help.html

 

Thanks folks.

[the_shadow]

I have an MBNA credit card that was terminated a short while ago. I received a letter from Link Financial saying they've bought the debt. After reading on here how quick Link are to get charging orders I wondered if someone would be able to advise me on the best course of action here. It was an online application (c. 2007) so I'm guessing its enforceable. The question is, what is the best way forward regarding Link's letter? Should I write to them offering £1 token payments (thats what I was paying MBNA). Would be grateful for any suggestions/ideas as I'm dead scared that if I ignore them it'll make things much worse.

 

I've added a link to my original post below.

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/189152-drowning-debt-please-help.html

 

Thanks folks.

 

Ok first thing is stay calm, you'll get help on here and you are not alone, most of us are still in debt! You say the CCA was from 2007 so I'm afraid its taken as granted in the court system that the agreement is enforceable, at the very least you dont have the get out of s127(3) like pre-2006 agreements.

 

Right first things first, I believe your unemployed so that means you can only make token payments... thats a given.

 

You say your worried about charging orders and link getting one really quickly... 1) They can only get a charging order if they have a CCJ in place and 2) You default on paying that CCJ.

 

A judge will only ask you to pay what you can afford!!!! I've put it in bold as its important to remember cos the DCA's like to think they can make you pay what they want.

 

Dont deal with them on the phone, ask them to write with all details, Dont pay by Direct Debit, Standing orders or cash into their accounts and once again as its the most important thing... only pay what you can afford!

 

edit: Just read about the equity in the house.. that means they may get a little more interested in attempting to get you to secure the debt, offering you a secured loan to repay or possibly ask you to increase your mortgage or some other loan secured to the equity in your property... just ignore any of these, its against the OFT debt guidelines to ask you to increase lending to pay existing debts.

 

PmW

Edited March 30, 2009 by pmw1971

[Massamum]

Hi PmW, thanks for your reassurance and advice.

 

I will write to Link offering them £1 token payments as that’s all I can afford.

 

Definitely won’t be taking up any offers of loans - I’m no longer credit-worthy

 

Feel so powerless in this situation.

[Massamum]

I've just had a thought, should I be sending Link a letter asking for some sort of proof of ownership of the debt? After all MBNA haven't actually notified me that they've sold the debt on.

 

If so, does anyone know if there's a template letter on here to do that? I can't remember how to get to the templates!!!

 

Thanks in advance

[the_shadow]

I've just had a thought, should I be sending Link a letter asking for some sort of proof of ownership of the debt? After all MBNA haven't actually notified me that they've sold the debt on.

 

If so, does anyone know if there's a template letter on here to do that? I can't remember how to get to the templates!!!

 

Thanks in advance

 

 

Ooo no notice from MBNA that they are selling , will hunt around for the letter for you just in case nobody else posts it.

 

PmW

[Massamum]

yes, they are very naughty aren't they lol.

 

Thanks pmw, thought I'd seen one on here before but just couldn't remember where to get hold of it.

[the_shadow]

bump ~ cant find the letter but know it needs to state about law of property act 1925 and s136 / s196...

 

Any takers....

[Massamum]

thanks for looking for me, hopefully someone else will know where it is

[Massamum]

anyone???

[shakespeare62]

Massamum, have Link sent you a Default Notice ? If so, can you post it up on photobucket (with your ID i.e. name, address, account number removed), leave in the date of the Default Notice.

 

Secondly I believe the repealing of s127(3) of the Act applies for agreements entered into AFTER 6th April 2007. I need to confirm this.

 

Did link send you a notice of Assignment ? It would need to have been sent by recorded delivery to be valid NOT ordinary post (unless of course you acknowledge receiving it).

 

Note: Regarding any offers of payment you make to a creditor, make sure you head the letter Without prejudice save as to costs

You could put that heading anywhere above the main body of the letter. This means that if the Creditor accepts your offer openly then the offer is legally binding. If the Creditor refuses your offer, you are not bound by your offer (you can withdraw it), but you can show your offer letter o the District Judge on the issue of costs. This is a deterrent to a creditor when you are trying to settle outside of Court.

 

You are not there yet. Lets see if you can find the Default Notice first (I assume Link have sent one)

[Massamum]

Hi Shakespeare62, thank you so much for your reply, I really do appreciate your help, especially given the late hour.

 

No I haven’t received a DN from Link (yet). Only a letter so far which I think is a Notice of Assignment? The letter is dated 23 March and in that letter Link say the debt was assigned to them on 20 March 2009. The letter was sent by ordinary post and I haven’t acknowledged receipt at all yet, either by phone or letter.

 

I received a DN from MBNA dated 6 March (posted below), it mentions that I have to make payment by 23/03/2009 or (further down) that on or after that date if not received that my account will be closed – that’s three days after the debt was assigned to Link – is that significant at all? (I have only actually just realized the dates)

 

Sorry to be thick but what does repealing of s127(3) mean?

 

Any suggestions as to what I should do now? Should I write to them offering token payments? But if I do that then I’m acknowledging receipt – no idea what to do for the best.

 

(Was up half the night trying to scan NOA onto Photobucket but awful trouble losing my internet connection, will keep trying and hopefully will post it up later.)

 

 

 

Edited April 4, 2009 by Massamum
removed identifying ref

[the_shadow]

Oh dear oh dear... what have MBNA done!

 

DN is faulty on dates, they sent it on the 6th march which was a friday.. they have to allow two days for service (1st class post) and thats working days so sat/sun are out... so from 10th March 14 clear days would mean weds 25th March...

 

This has implications if they terminate which are all good for you, bad for MBNA

 

But to assign a debt without giving you time to remedy it is even worse!!! They cant sell the debt without terminating first and if they havent given you the dates that even they state in there letter to rememdy and then terminate then they are in bigger trouble.

 

Not sure if this comes down to whether they sold the debt or are asking link to collect on their behalf (as agents).. The noa should give us a clue (if its important or not?)

 

PmW

[Massamum]

Hi PmW, thanks for that. Sounds like good news (if only I knew what it meant lol).

 

What are the implications for MBNA if it has been incorrectly done? What do I have to do?

 

 

Still having a nightmare trying to upload the NOA but will keep trying.

[joemay]

Oh dear oh dear... what have MBNA done!

 

DN is faulty on dates, they sent it on the 6th march which was a friday.. they have to allow two days for service (1st class post) and thats working days so sat/sun are out... so from 10th March 14 clear days would mean weds 25th March...

 

This has implications if they terminate which are all good for you, bad for MBNA

 

But to assign a debt without giving you time to remedy it is even worse!!! They cant sell the debt without terminating first and if they havent given you the dates that even they state in there letter to rememdy and then terminate then they are in bigger trouble.

 

Not sure if this comes down to whether they sold the debt or are asking link to collect on their behalf (as agents).. The noa should give us a clue (if its important or not?)

 

PmW

 

subbing...

This is very interesting.....Sorry to butt in on this thread but have received the same letter with same dates.

Rec'd letter from Link dated 26th March stating assigned on '20th MARCH' this surely can't be right can it? What are the implications of this for MBNA and Link?

[Massamum]

Hi Joemay, how interesting that you have the same letter. I have absolutely no legal knowledge but definitely something is not right here. I too would love to know what it means for MBNA/Link and more importantly, for us. Also what to do next.

 

Have at long last managed to scan the Link letter Shakespeare62 and PmW, hope it helps

 

 

 

[joemay]

Hi Joemay, how interesting that you have the same letter. I have absolutely no legal knowledge but definitely something is not right here. I too would love to know what it means for MBNA/Link and more importantly, for us. Also what to do next.

 

Have at long last managed to scan the Link letter Shakespeare62 and PmW, hope it helps

 

 

 

 

SNAP!!

[joemay]

Massamum, Have you had a tele call from them today? We have, they weren't sure why they were calling, she stated she was calling from the switchboard???? Told her we will correspond by letter - already sent CCA request.

[Massamum]

No Joemay, I have a new provider plus a new number. Its brilliant as none of my creditors can pester me. My heart still goes over when I hear the phone ring though.

 

I’d love to send a CCA request but sadly mine was an online application (Feb 2007) so from what I’ve read on here it’ll be enforceable. Good luck with yours though.

 

Sounds like they don’t know their Rs from their elbow!

[joemay]

Good u changed provider.

 

I've opened a new thread so if I get a response I'll let you know.

 

Good luck to you too.

Joeman

[the_shadow]

Ok saw the PM...

 

The reason DN are so important is that its a requirement to end the credit agreement than a proper default notice is served prior to termination. If the default notice is invalid i.e. not enough time to rectify the fault then the termination becomes invalid, this reduces the right of the OC to just the money due at the time of the default notice, i.e. only the arrears become payable, they lose the right to the balance as they have terminated the agreement invalidly.

 

 

The letter implies that Link have purchased the debt from MBNA. As to the selling a debt prior to the default notice expiring that seems to me to be a serious breach, you'll need more experts opinion on this but in my mind they have seriously weakened their hand here by selling the account before the actual termination date of the agreement.

 

If I was you I'd ask for more expert help, either PM one of the moderators (site team) or click on the red triangle if no further help is given. I'm afraid im no expert only just beginning on the road myself.

 

PmW

[Massamum]

Thanks for the quick response and brill explanation PmW. Have PM’d one of the site team for further help.

 

 

[the_shadow]

bump for advice:)

[42man]

PMW has made a valid point about the default notice, however it is really how a judge sees it, and we know they vary wildly.....being a late (2007)agreement and online means there isn't that much you could do in that respect...dispute/reclaim any excessive charges, and get any PPI back and make an offer of however much you can afford.....did they send you a termination notice ?

[lilly white]

Hi justing asking the question What are link the owner of the balance what is the balance are there any outstanding charges that you can claim back

 

if there are the balance will be wrong just a note.

 

hope it helps just slows them up a lot

 

viva cag

 

lilly

[the_shadow]

PMW has made a valid point about the default notice, however it is really how a judge sees it, and we know they vary wildly.....being a late (2007)agreement and online means there isn't that much you could do in that respect...dispute/reclaim any excessive charges, and get any PPI back and make an offer of however much you can afford.....did they send you a termination notice ?

 

Hi 42man, thanks for the post,

 

which point? the remedy dates being wrong or the selling of the account prior to the end of their own quoted remedy dates?

 

PmW