Kalla, I may be being thick here, but your paragraph where you reply to me, I haven't the faintest idea what you are talking about!
I would also like to point out, that when I applied for my Nationwide account, I had one or two (old) ambers on my account, nothing to worry about, and everything was up to date.
I was refused a full account.
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
Well Stirling, having spoken to CCCS(VA) IP she has informed me that she believes that MBNA will have done this on their own account and that this is not something they would encourage or want to get involved with.
Can you find out the name of the MBNA employee you spoke to?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I remember that MBNA would contact me several times in the run up to my creditors meeting. They were very keen for me to settle outside the IVA because after a certain time they would automatically sell my debt on for approx 10p in the £. They offered me "short settlements" of 45p, 30p and even 25p even though my proposal was offering 38p. Short settlements still show up on a credit file as partially satisfied so would still count against you in any credit score.
My F+F IVA was done through Melanie and her advice was that taking MBNA out of the IVA would show as favouring them as they would get all their money up front whilst my other 7 creditors would have my payments drip-fed to them in a 5 year IVA with the possibility of it failing along the way and getting nothing once IP fees were allocated.
I've not been on here for quite a while so need to read up some posts as I'm sure things are very different now compared to 18 months ago when my IVA was approved. But I know that MBNA will always want the best outcome for them, not the debtor and certainly not other creditors in any discussions about settlements.
Thanks for that thebear29UK - I'll add it to my stories on MBNA issues!
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I think most creditors are out for themselves, after all they want their money back, but they should not be able to approach people who are going for an IVA with an offer to settle before said IVA is approved.
You definitely can't prefer one creditor over another.
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
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
