Paying back MBNA debt?

pinkpiggy

Just wondering if it's not a good idea to keep paying back MBNA debt when the company are in trouble and close to closing down in Ireland unless they find a buyer?

I have a debt of almost €2000 with them from a credit card I got in 2006. The credit card was not reissued to me a couple of years ago. I have been having trouble making repayments and interest and late payment fees make repayments very high every month which I can not afford as I am currently unemployed.

Is anyone else in the same boat? My repayment date is normally around the 15th of each month and normally if payment isn't made by then, a few days later I start getting calls from a +71 number which I assume is MBNA (I never answer to find out!) I didn't get any calls in mid August which I thought might have meant that they weren't going to harrass people for payments when they are close to closing but the past week, I have been getting a call every couple of days from a private number ( 'Call' just flashes up on my mobile) which I haven't answered.

omega42

First of all i have to say I worked for MBNA

i MBNA do pull out of ireland (which i think is likely) if there credit card biz is not taken on by another bank the will hire a company to run there book down. I.E. close all accounts so people will just pay the debt off and wont be able to use card again, they will hire an accounting firm to manage the debt.

which means that when they do move you will still have to pay

The +71 calls are prob from their india call centre, they use them to call people that just missed 1 payment.

If you are strugling your best to speak to MABS they can help with any financial statment and see if they can work on your behalf to try and lower your payments and interest

Hope that helps

pinkpiggy

Will that def happen though or is there even a minimal chance the all debt will just be written off?

If you contact MABS, is this not something that severely affects your credit rating (and yes I know not keeping up with making payments affects this too).

I'm just sick of the whole thing

jd83

Not paying back the debt will affect your credit rating and you chances of getting loans or credit card in the future. MABs are there to help. They will help you draw up payment plans and budgets so you can deal with your debt. Going to them wont effect your credit rating. Theres no way there going to write off 2000, just someone else will take over the debt. So you will be paying it back to some other company.

omega42

when bank of scotland left ireland they just gave a company there book (of Debts) to a company to work down for them and when i was in mbna i seen a number of times where they bought another companies portfolio, so youll have to make pymnts wheather they leave or not