Historic MBNA Debt

A question about : Historic MBNA Debt

Hello

Apologies if this has already been discussed before. I don't get on here too much.

In 1997 I took out an MBNA Credit Card, and ran up Ј3,500 limit, which then defaulted in 2000, and was handed over to Wescot Credit Services.

I set up a Standing Order with Wescot and have been paying Ј30 a month (reducing to Ј20 a few years ago) since 2000.

I've just called for a balance and settlement figure (still a staggering Ј800, settlement was around Ј700). The debt no longer appears on my Experian Credit File.

Here is what I'm wondering:

1) If I pay the balance in full, will this reactivate the debt on my credit file and show that it has now been satisfied, displaying how long it's taken me to pay?
2) If I agree a settlement figure, will this also show on my credit file? Worse still would it show as partially satisfied, because I'd agreed a settlement?
3) If I stopped paying this debt, what would happen? Would the debt show as a default on my credit file, even though it dropped off years ago? Will it be transferred elsewhere? Can MBNA legally still collect this debt through collection agencies after over 14 years?

Your expert advice would be much appreciated.

Best, Chris

Best answers:

• 1) No, it can never appear again on your report.
  2) As above.
  3) Again, as above. No default can show ever again.
  However, if you stopped paying always possible they could go for a CCJ which as a separate entry on a separate section of you file would show for 6 years if granted an not paid within 1 month.
  May be worth sending a CCA request to Wescot to see if they have enforceable paperwork for this.
  See: https://www.nationaldebtline.org/EW/...n/Default.aspx
  If they struggle to get or produce it, or simply there isn't any, you may be able to negotiate a much smaller settlement at least.
• OK, so I've written the standard letter to Wescot, asking them to supply the paperwork/statement/credit agreement, and I've received no response, despite chasing by phone and email.
  The 12 working days has now passed, and I'm not sure of my options now. Do I make a setllement offer to close the account? or should I hang tight?
• Just sit tight til they write to you.
  Despite the 12 day limit, it's rarely met, especially when dealing with DCAs.
  Give it a month and if they write meantime, respond with where is my CCA?
• I've received a response, and they have advised that they are unable to supply me with any documentation.
  My account has been placed on hold and Wescot have invited me to contact MBNA directly, although they haven't indicated why I should be contacting them. Presumably to agree a final settlement figure? or does the lack of documentation now mean that legally I'm not obliged to pay anything?
  Any further advice would be much appreciated.
• play there bluff then , let them try for a ccj , without the paperwork they won,t get it
  if they do get it , then just pay within one month ,
  not your job to chase MBNA , the account is defaulted and sold to wescot ,
  stop paying now!
• Stop paying.
  See what comes through the post and from who. Then decide what to do.
  MBNA couldn't provide anything for my old A and L card. I've not heard a squeak out of them for 2 years or so.