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Charged off MBNA Credit with Law Firm

Date: Mon, 08/08/2005 - 13:33

Submitted by anonymous
on Mon, 08/08/2005 - 13:33

Posts: 202330 Credits: [Donate]

Total Replies: 2


4 years ago, I lost my job, health, and all my savings. My 0% credit cards raised their interest to over 28%. As a last resort, I defaulted on all my cards. I settled all my cards since then except MBNA that has been charged off, and handled by a law firm. I have been unable to work a reasonable monthly payment with the law firm as they maintain that MBNA requires them to collect a certain amount. When I called MBNA, they maintain that since the account is charged off, it does not belong to them and have no say so on how it gets handled or paid. The law firm is in a process of placing a lean on my home, but is unwilling to settle on a reasonable monthly payment. What are my options? I sincerely appreciate any assistance.


Hi Vid

Welcome to the forums. It seems that your account has been sold by MBNA to the said law firm. Now, having no other way left, you will have to make payment arrangements with this law firm only.

Please do not worry much about this situation because you are willing to pay from your side. From their point, they are trying to recover as much money from you and this is being done by putting you under legal threats. I believe they will not take legal action against you because they will have to pay the court charges for it. Moreover, filing a case in the court will also not help them in recovering the total amount in one time.

I suggest you to enter into a free counseling offered by the consultants working in this website. They will most proficiently negotiate with your collectors and arrange proper payment plans for you.

Regards
Roxette


lrhall41

Submitted by roxette on Mon, 08/08/2005 - 14:20

( Posts: 4009 | Credits: )