Off Topic

Link: http://www.consumeractiongroup.co.uk/

Did you know that many banks act illegally when dealing with your account, when you are in credit there is often no problem but as soon as you miss a payment, fall on hard times and cant pay for any length of time then all sorts of illegal and bad practices emerge from the woodwork.

MBNA appear to be the worst offenders according to the Consumer Action Group forum.

Banks can not expect you to pay back more than you can reasonably afford.
Banks can not encourage you to take out more credit to pay your debts.
Banks are not allowed to harass you.

MBNA as well as many others do all 3 of the above and other unethical and illegal practices.

They will bully you into taking secured loans and borrowing from friends, they will harass you buy ringing you up to 5 times a day they will give you ultimatums to meet or your life will be very difficult and possible loss of your house and belongings.
They will give you offers that seem too good to be true, they are too good to be true you must watch every word they write and imply.

Example when you have a few months problem payments they will put you through to loans direct, MBNA will earn commission from the referral, if you take out the loan you can very easily lose your home if you do not keep up repayments.

MBNA will offer you a chance to settle your account by offering an amazing deal, pay cash lump sum of 30% and they will not chase you for the rest of the payment, they will mark it as “partial settlement” with the credit agencies, sounds good? if you put the payment on another credit card you have 1/3 of your bill to pay and the rest is written off? nope you have moved the debt to another card another bad debt to your credit history if you don’t keep up payments, what’s more MBNA will sell the remainder of your debt to a debt collection agency and they will chase you for the other 2/3 plus interest.

MBNA will try anything to get payment out of you whether you can afford it or not, their staff are on commission and will use any means possible to get you to pay them, as soon as they see you are having problems paying they will whack the interest rate as high as they can 34% is the norm, the reason they do this is so they can get as much cash out of your account as possible when they sell the debt to the debt collection agency

MBNA and other credit card companies have flaws in their armour that can be exploited to reduce and sometimes eliminate the whole debt, if you visit the Consumer Action Group forum you can receive personal help (almost real-time) to avoid the Banks scams and make life a lot easier and safer for you.

The Consumer Action Group forum is free, it is run by people who have or are successfully challenging the banks.