@mbna Sold on to Idem

[Michelangelo48]

Yes mine goes back to 2003! Are you sayinhg that MBNA Might have no paperwork!

[mikey130]

Thats exactly my understanding, my 1st loan goes back to 2003 as well and thats the only cca I recall signing, I had top ups of that loan in 2005 & Jan 2007 both times every thing done by phone and no cca ever received for those 2, so I cca'd arden credit management on monday 16th and I await the response, same as you by the sounds of it !

cheers mikey 130

[Michelangelo48]

Same thing happened to me in 2007_when they 7crewed up my credit limit and split the account into 2(possibly to make more money).I am told that they may need to produce the original "agreement" signed by both parties for the agreement to be valid and for the debt to be enforceable under s77/78 of the CCA 1974! but some courts may accept a recon. agreement with the use of a line of credit. mbna say that they have sold the debt to idem servicing! A DCA With a CC license since April 2011! mbna are trying to sell the bank on to Virgin and Barclays-hence the selling of distressed accounts £56m for 7-15% a pop to idem. There is some debate as to whether they arerequired to produce this! I am just waiting for Mbna to try and put up arguments that they dont and for Idem to try and argue that they dont have an agreement? Apparently they cant collect the debt if they dont have a valid CC AGREEMENT! M

[mikey130]

Ok so we're both in same situation as loads of others i guess we just wait to hear, idem are part of the paragon group same as arden credit management so we're dealing with the same people but under different names, once sold the debt belongs to idem/paragon and its there duty to pass your cca request back to mbna you shouldn't need to cca both, any way keep watching as soon as I get a response i'll post on here for you to pick up if you can do the same.

cheers mikey 130

[Michelangelo48]

Cheers mikey! Have you sent your SAR YET? M

[victoria_siempre]

Hi guys

 

It is against OFT guidelines to pose as multiple entities; one anyway wonders why they do this so quickly?

 

Idem Servicing did not have a CC license when they sent demands out; an entirely minor point of law.

 

Idem have no paperwork; just a list of a/c nos (now changed twice) and alleged balances.

 

Idem are shy about responding to me in writing; why would that be?

 

x

 

v

[mikey130]

Thats interesting v, I have'nt sent in a sar as yet thougt i'd wait and see what comes back from the cca, is a sar to my advantage at this stage ? i've had 4 letters and 2 attempted phone calls at the moment, do you not want the sar if and when you get nearer to court?

mikey 130

[Michelangelo48]

It gets worse guys! The MBnA are regulated by Paragon's "Head of Internal Audit" through the Finance

[mikey130]

Hi Guys, help/advice needed please, I sent door step letter and cca letter both by recorded delivery to Arden credit management on 16th April, they appear to be cpmpletely ignoring these as today I have received Final demand letter

informing me I have 7 days from date of letter to respond or account will be passed to solicitors for action or a doorstep visit will be arranged and of course the letter is dated 20th April so 7 days is up the day before the cca requeast dead line, any one know what I should do or do I sit tight for cca time limit ?

[mikey130]

Hi guys, update have heard nothing from ARDEN CREDIT MANAGEMENT since the final demand arrived, my CCA request turned up no response so sent IN DISPUTE LETTER and still no response kinda spooky do i just sit and wait i'm fairly certain there will be lots wrong with any cca they can produce as i had about 8 k back from ppi and no statements since any advice gratefully received.

[victoria_siempre]

Hi mikey

 

My correspondence has also met a deafening response. They have dissembled my complaint and merely repeat that they have bought something from MBNA. I have asked for a Final Response to my complaint from each of their entities that has written to me so as to facilitate my formal complaint to FOS; strangely, silence is the sad reply.

 

I am sitting back and waiting. Knowing how aggressively MBNA harass customers, I should imagine that a delinquent MBNA book was not a pretty profitable paragon and that somebody may have bitten off more than they can chew.

 

x

 

v

 

Keep the intel coming guys.

[mikey130]

Hi V/guys well today I have received a letter from ARDEN CREDIT MANAGEMENT acknowlegeing my letter of the 16th ( doorstep letter) cca request was sent at same time, they advise me to offer reduced payments and to fill in enclose I&E form which wasn;t enclosed at all ! any way account in dispute as of 1st may and how can I offer reduced payments when having had ppi & interest reclaim original payments must surely be irelevent now ? any one know any thing on this subject

I've never had a statement to show how account stands after ppi refund and never had a cca from day 1 are they just trying to get me to acknowlege debt ? cvan any one shed any light please

 

many thanks

Mikey130

[mikey130]

Ok guys, had a response from both Arden Credit Management, acknowlegeing my complaint (indispute letter) and asking me to allow up to 8 weeks for them to sort things out (nice when they give us 7 days) and allso 1 from MOORGATE LOAN SERVICING admitting that at present they have no CCA paperwork from MBNA and as a result of my complaint they have placed the matter with the COMPLIANCE DEPARTMENT and will be reviewing there current operating procedures they will forward my CCA when they receive it from MBNA. So guys it would seem they have no paperwork with the 55million account purchases. they also invite me to complain to the FOS.

 

any one any advice on this ?

[victoria_siempre]

Hi mikey

 

I would politely thank them for their reply and helpful invitation; you have 6 months to raise the FOS complaint and I should be inclined to do that just short of the 6 months (obviously contigent on developments) and these things inevitably take time.

 

Then: stand easy.

 

x

 

v

[Michelangelo48]

hi Mikey thanks for all your help on my thread! Even though like you I had the utter incompetence of Idem/Arden only issuing corresp. on one of my accounts I CCA'd them oon both today 1st class recorded @ 12pm today using the std CAG S.77-78 CCA template you used! arrived home to find that MBNA are sending me a further 150 quid in mis-sold PPI! the letter is also signed by your guy Tristen Lynes, Asst VP ! @ MBNA! no mention of returning late fees and of handing over of default charges, overlimit charges I asked for going back years_ T hey seem very keen to F and F settle this, all seems very fishy! they tried to pre empt my SAR to MBNA by sending me an MBNA verssion demanding passport or Driving License proof of identity! Bugger off!!@ and No Deal! I will beusing the CAG std template letter its got much better detail and much more authority! M.

[Michelangelo48]

it turns out that the PPI they withheld would have covered my Jan.Feb 2 missed payments.arrears 3 times over! eg 56 quiid arrears so they have wrecked my credit for 6 years to 2018 and could have used the 154 quid they unlawfully with held to resolve this matter to offset as they claim they do in such cases! BANK error or what! I wiill of course be putting this in my FOS complaint! m.

[PGH7447]

FYI

 

The Paragon Group of Companies has acquired a portfolio of closed consumer credit card debt from MBNA Europe Bank for £16.1m.

 

http://www.mortgagestrategy.co.uk/latest-news/paragon-acquires-credit-card-debt-from-mbna-for-161m/1057637.article