MBNA / Restons

[Cartier-Bresson]

Hi - I'd also like some advice in relation to this thread if possible.

 

I had an agreement with Abbey National Credit Card which I signed in July 2001 .... but the account automatically transfered to an MBNA account some time in late 2007. I have recently requested a copy of my CCA from MBNA with all transactional data which they have sent me free of charge ... however this agreement was made with Abbey National, not MBNA ... is this relevant ???

 

I advised both Abbey & MBNA of my change in financial circumstances in Jan 2008 when the account was at £2685. I set up an agreement to pay them £25 PCM which I did for many months, but then had to reduce down to approx £8 PCM over last 6 months. They have passed my debt over to Restons in Warrington who have demanded payment in full. Having borrowed no more money on the account since Jan 2008 when I first advised them of my change in circumstances, I have paid them back a total of £251 and the account now sits with restons at £3072 .... I get the feeling I'm just being totally ripped off here !

 

Can anybody recommend what I should do in relation to this specific debt as I understand from many other threads that the MBNA / Restons combo can get nasty !

 

From the financial transactional data provided by MBNA from Jan 2003, I labouriously entered it all into a spreadsheet to see how much money they had actually made from me .... I was staggered ! Their numbers frequently didn't add up but in brief, this is what I discovered:

 

Total Funds borrowed = £26,154 since March 2003 broken down as follows:

 

Total Fees and Charges = £6,198

Total Cash Advance = £12,685

Total Retail Sales = £7,271

 

I have subsequently paid them back a total of £27,995 to date [which is actually £1,841 more than i have actually borrowed and that is including the unreasonable six grand + worth of fees and charges !]

 

Do these numbers seem in line with other peoples experiences ??

 

I have offered them a final settlement figure of £450 over three installments of £150 PCM .... am I being stupid ?

 

cheers > C-B

[angel_1]

hiya

 

sorry no one has posted a reply yet,

 

i totally understand what you are saying, and well done its something ive been meaning to do for myself

 

my mbna ones been sent to dca's not yet reached restons but have you had a copy of your cca yet or are you still awaiting on that

 

can you post up your copy of the cca (Please remove all your personal and identifying info first though) if you have had it sent so we can be sure its enforceable,

 

have you had any defaults yet registered? and kept the paperwork?

 

also have you seen other threads under mbna you will learn a lot from reading other threads and seeing if you can match up your circumstances from others

 

i just wanted to say hiya in the meantime

 

this is a such a huge site it will take a bit to learn - but keep asking questions and we will all try and help

 

have a sunny day laters angel x

[Cartier-Bresson]

Sorry - I'm new to this really ! I thought it was under the MBNA path .... can i move it myself ? cheers > C-B

[sunflower99]

Sorry - I'm new to this really ! I thought it was under the MBNA path .... can i move it myself ? cheers > C-B

Hi Cartier-Bresson!

Dont worry! I made some mistakes when i first joined CAG and got told i had hijacked someones thread! I also got cagbooted for starting a debt collecter word association game:eek: etc! We all make mistakes when getting used to the forum.It is very confusing when you start out but cag are a very friendly helpful friendly bunch who will help you put up a defence against these scummy DCAs!

Edited April 21, 2009 by sunflower99

[sunflower99]

shame really as i thought the debt collecter word association game would be fun!

[sunflower99]

Cagbot was a spoilsport!

[supasnooper]

Hi there,

 

You could ask Restons for a statement of the account as they are collecting your payment and what interest and charges are being levied to the account.

 

As to your F&F, you will have to see what they say at the offer of 15% of the debt but I suspect they may not accept it.

[citizenB]

Have you thought to reclaim any late payment fees/charges that have been applied to the account ?

 

Credit card charges arent subject to the OFT court case and it looks as though if you were to reclaim those, then your balance would be wiped and they would owe YOU money.

 

In the following link, you need item number 7 which is the interest calculation spreadsheets you need to scroll down and click on the Credit card spread sheet . From your statements you enter in the charge/fee and it will do all the calculations for you. Plus the interest at 8%

 

From the same link below, you will then need item number 10 which is the Letter template for sending along with your spread sheet to MBNA asking for your money back.

 

The Consumer Forums - Bank charges templates (consumer)

 

I dont know over what period the charges have been applied to your account, but there may be some at the higher charge (before 2006 when the OFT said they had to bring them down) and then some at the lower charge of £12.00.

 

MBNA along with other CC companies will try and say that they dont have to pay you the £12.00 back as the OFT said that sum was fair. This is not true, the OFT said that if they were to be higher than that sum then they would investigate. So stick to your guns and get as much back as you possibly can.

 

If you need any help, just yell

[Cartier-Bresson]

Hi All

 

Many thanks for all your help so far .... I've just been through the fees & late charges on this account and since March 2003 i have paid MBNA £856 !!! This is mostly made up of both £25.00 & £12.00 charges for 'Late Fees' & 'Over Limit Fees' etc

 

I've also attached copies of my CCA as sent from MBNA on 8th April 2009, obviously with all the personal details deleted in red. [Front and Back] It would appear that this is really just the front page of an application form ... although both sides do look like they line up .... tI guess the back could have come from anywhere really !

 

Do you think i should dispute this document as being unenforceable ?? If so .... do I dispute it with MBNA or with Restons ??

 

Thanks again for your help > C-B

[citizenB]

CB, those images are bit teeny. Are you using photobucket

 

Image hosting, free photo sharing & video sharing at Photobucket, If so, I think you need to copy and paste 3rd or 4th URL

[citizenB]

BTW, if that is £856 worth of charges/late payment fees.. it will add up to a nice little sum once the interest has been added

[Cartier-Bresson]

Hi - Sorry about image size .... i don't really know what has happened here as the original jpeg's are 2.5mb and are extremely clear .... maybe it is just the thumbnail that has been attached as the file size appears to be 17kb ????

 

I'm so new to all this and must appear totally stupid !!!!!! Sorry again !!!!!

 

With regards to the Fees and Charges etc ..... the £856 figure has been made of individual £25 / £20 / £15 / £12 charges applied to the account over the past 6 years [from March 2003] .... but I don't really understand what you mean by 'once the interest is applied' ..... do I now need to make a calculation using that spreadsheet you provided the link to, based upon an 8% interest rate applied to this figure ???

 

Also .... do i approach MBNA about these charges or Restons ???

 

Curse my small brain !

[Cartier-Bresson]

I'll try to attach these CCA images once again but as PDF's this time ... bear with me !

[Cartier-Bresson]

Good Lord ! I've just used the spreadsheet you provided to calculate the interest on the charges applied to my account as of from March 2003 .... based on that 8% interest rate .... we are now looking at a total of £1055 !!!!!

 

Should i send this to MBNA or Restons ????

[Cartier-Bresson]

Hi - Thanks for getting back to me. I'm really new to this so I apologise for anything I get wrong in advance ! I think i may have created two identical threads called 'MBNA / Restons' ... of which the other thread seems to have attracted more of a response !

 

I have posted the images of the CCA that MBNA sent me on the other thread ... but will put on here for you also.

 

It doesn't look right to me .... just looks like an application form with T&C's placed on back .... which could have come from anywhere really ! I don't know enough about all this yet though ... so I'm unsure if it would be enforceable in court of law. See what you think and let me know if possible.

 

I think MBNA have registered a default notice on me .... I will have kept it somewhere .. but just need to get all my papers in order for this debt.

 

i'm already blown away by this forum and what i have learnt from others in a single day ! I really felt all alone with this debt ... and although I know I shouldn't have let it get out of control .... I don't think I deserve to be ripped off like this .... these companies are simply profiteering at the expense of peoples general ignorance !

 

Thanks again > C-B

CCA Front.pdf

CCA Back.pdf

[guzzleguts]

The application form looks unenforceable, no prescribed terms. They will want you to beleive that the 2nd pg was the back, and if they can prove it was it may well be enforceable.( But i doubt it was).

 

What was the original credit limit.

 

GG

[citizenB]

:lol: surprising isnt it ?

 

Now just think if you were to be really rotten and stick in the contractual interest (the actual interest you have been charged).. !!

 

When you send off your initial claim, you remove the last column with the 8% interest included. You will only be able to apply that if you decide to go the full hog and take them to court to recover.

 

I think you send the charges claim to MBNA, although someone else will confirm that for you I am sure.

 

Okey dokey.. the CCA. The front page does NOT contain the prescribed terms. The 2nd page cannot be linked to the front in anyway. Again, this is something that will need to be confirmed with someone else.

 

Now you need to think about what you want to do. Do you want to claim your charges back, if they will effectively wipe out the balance being chased and leave you clear then that might be the way to go. Or do you want to spend months toing and froing with letters in an attempt to have the agreement declared unenforceable ?

[citizenB]

Do you know if the account has been assigned/sold to Restons or are they just collecting your hard earned dosh on behalf of MBNA ?

[Cartier-Bresson]

No idea about original Credit Limit .... May have been 2K ... i could probably find out if i went through my papers at home .... come to think of it i may still have my copy of the agreement I signed ... if i can find it i'll check. If I don't ... how can i determine whether what they have sent me is actually real ??? IE: Correct back page and not just some generic version they stick on all the requests they don't actually have !

[guzzleguts]

MBNA - (Abbey & Virgin cards) CCA ?? (1 2 3 4 5 ... Last Page)

guzzleguts

 

You cant, thats their plan to make you think they might have an enforceable document.

 

Have a read through my thread it might shed some light, i am at the litigation stage at the min.

 

GG

[guzzleguts]

And also if you can remember you original credit limit and it wasnt 1 3 or 5 grand then the T&C's that you have been sent may not stand up, no rate of interest, which is a prescribed term!

 

There is some great posts on here by PT about some of the terms thst MBNA spew out.

 

GG

[Cartier-Bresson]

Many thanks again for your help - I will have to check the letter Restons sent me, which is at home. I guess, depending upon what this letter says, will determine who i send the 'fees refund' claim to ???

 

If I can get the Final Settlement figure down to a resonable amount - I don't mine paying something to them ... I just don't want to get totally ripped off again ! MBNA have really had enough money out of me in the past through the interest they have charged me !

[citizenB]

I imagine that if you do send it to Restons, then it will probably get passed on to MBNA.. I really am not certain. I will try and find out:)

[Cartier-Bresson]

The plot thickens !!!!

 

Having just spent some time looking really closely at what my CCA actually states I seem to have come across something that would suggest that these two documents are certainly NOT related !

 

On the front page where I have signed .... just underneath in the Additional Cardholders - a free service' section it states:

 

IMPORTANT - DATA PROTECTION - Additional Cardholder

By signing this agreement you agree that we may process, use, record and disclose Personal Information about you as described in Condition 11 in the Terms & Conditions.

 

 

But when you turn over to the T & C's on the back page ..... Condition 11 states:

 

11. For the period of six months starting on the date of opening the account, we will not increase the interest rate on any Retail Transaction, Cash Transaction, Cheque Transaction, Balance Transfer, or on any handling charge.

 

 

So it is clearly refering to a differnt set of T&C's !!!!

 

Is this correct or am I going mad here !!!

[angel_1]

hiya Cartier-Bresson

 

im subbed and did reply on your other thread, it may be useful perhaps to have both your threads merged into one - a moderator can do that for you if you wish

 

ive noticed citizenb has been replying on this thread - if you wish perhaps ask away and im sure it can be done

 

just my thoughts this way its one thread with all the info in one place for you, easier for all 8-)

 

but i will warn you - you will be addicted here once you get to know stuff8)

 

anyway keep asking questions we are all in the same boat

 

 

have a sunny day all

laters angel x