MBNA just called me (via my parents house – great!) to say they’re getting the solicitors in. I explained the situation (iva rejected by MBNA under their 10 year rule) said my Iva is being submitted by another IP(just heard Melanie said she’d give it a go which is great obviously, even though I know it might not work) The woman from MBNA said “I can tell you now, there’s no way that will be accepted” . They said if I don’t pay £200 by the end of the month their solicitors will be involved. Should I just do it? Because I know the iva process will take longer than the end of the month. I honestly think MBNA are trying to kill me!
Hi Missy - the person you will be speaking to will have nothing to do with the IVA voting process so they are just trying to scare you into paying. If you want to make a small token payment to them if it will prevent aciton then fine but remember you cannot give one creditor preferrential treatment over another so you would need to give them all a token payment. £200 is unreasonable.
If Melanie has agreed to act for you let her deal with MBNA at the level that she can. You are dealing with the helpdesk staff who have a job to do but have nothing to do with an IVA application.
Do not let them get to you - easier said than done I know
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Have you thought about what route you will take if the IVA isnt approved? If you would be going down the bankruptcy route then whatever they do would be cpatured in this? I personally (when we were in this situation) would probably have offered them a token payment, a lot less than £200, to buy a bit of time.
They said, because I haven't paid them since March (can't believe it's been that long. Doesn't time fly when you're £25k in debt!)they would need a whole month's payment which is actually £200.32 or something like that. What happens after the solicitors get involved?
Will try and get all my forms off to Melanie today, work isn't going to happen!
And yeah, it will be bankruptcy if this fails. I almost feel like I am delaying the enevitable, this seems like such a small hope it will work. Wish I'd found this sight before picking my first IP, I would've gone with Melanie from the off and been in a mauch better position.
MBNA were the worst of my creditors and that was nearly 4 years ago. They used to phone me every single night (luckily for me only about 2-4 weeks of it). I even spoke to a very rude person who said had I tried to get a loan to pay them off?? What is their 10 year rule? not heard of that. I hope you get something sorted out soon Missy, I found that the phone calls from creditors are the most stressful part.
x
IRHR wrote:
Have you thought about what route you will take if the IVA isnt approved? If you would be going down the bankruptcy route then whatever they do would be cpatured in this? I personally (when we were in this situation) would probably have offered them a token payment, a lot less than £200, to buy a bit of time.
There is no proof that making a token payment buys you anything with creditors.
Just let Mel get on with it. It will take longer than a month for MBNA to get solicitors involved anyway.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
There is no excuse for this creditor being rude to you, and we will deal with this as part of the process. I will be speaking to their representatives on your behalf just as soon as we get the documents through.
Thanks Melanie. I feel a lot better now you're involved.
MBNA are actually really agressive. It was them, a few months ago, who told me ivas rarely work out and then I'll be made bankrupt and NEVER GET A MORTGAGE!
Egg are quite nice about it, despite the many, many phone calls (and the ineptness of their phone system which means you speak to someone and then 2 minutes later you get a phonecall from someone else. But I used to work in a call centre so I know how bad the phone system can be, especially if you're not paying attention. (I was never paying attention!)
Will try and calm down enough to eat lunch. I might treat myself and go to the library - I love it there and it's free. I'm such a moneysaver now!
Its incredible what free pleasures there are in life when we are not focussing on money... hope you enjoy the library. You're in one of the best hands with Melanie, she'll do everything she can - she hates bullies!
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
Hello Missy,
I do hope you haven't had anymore of the phone calls. I am just starting the process, (also with Melanie) and am now into missed payment territory for the first time. I havent received any calls (yet!) but we have 2 cards with MBNA. I was just wondering though, what is the 10 year rule? Just curious, and wondering if it will affect me.
Hope it works out for you
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I too know how frustrating it is to be on the receiving end of the creditor hassling calls. The people calling generally work off a dialer and are on a commission basis to recover some money (even a tiny fraction) so they will use whatever scare tactics they feel will work. It is a very unpleasant thing and sadly it seems to get worse. But, remember that you have taken the right step and you are in the hands of an excellent IP so best of luck.
