Yesterday I received a telephone call from MBNA chasing an overdue payment. I explained to them that I had could no longer afford to pay and that I had engaged the services of an Insolvency Practitioner to look at solutions to my debt problem. I told them that the IP would be in contact with them and all my creditors in due course.
MBNA then asked me to consider a low interest loan that would clear all my debts for one low monthly payment. ie a loan secured on my property.
I could not believe what I was hearing, surely it is irresponsible of them to do this to someone in my position?
When I refused they got quite pushy and asked me for my employers phone number, of course I refused to give it to them.
Seems to me that they are trying to engage in scare tactics.
Last edited by jtomo64 on Sat Oct 17, 2009 9:31 am, edited 1 time in total.
This is a common practice, if they can get you to agree to a secured loan - it could then not be included in your IVA and they could force sale on your house to recover their money. Thanks but no thanks would be my reply!
MBNA phoned me a few times at work hassling me for payment. In the end I told them I had been warned because of their phone calls and if it kept happening I could lose my job - a complete lie but it worked.
It does seem irresponsible to offer you a loan but I suppose they are trying to make sure they get all their money back. Not good practice though.
The best thing to do with these calls, is to ignore them! HSBC did a similar thing with us and tried to get us to have a managed loan - just to sort their debt out!
We refused and the debts were all included in the IVA.
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.
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