My story: I'll be brief-- *Stopped paying MBNA (cc acct & gold option acct) 2 1/2 yrs ago because of advice from debt neg company *dn co. "oh so sorry, MBNA will not play nice" *Made pleas w/MBNA over the phone, told "oh so sorry, Wolpoff & Abramson is now handling your account" *W&A (biggest sob's in the whole ca industry) were mean and evil over the phone, sent stuff from National Arbitration Foundation through Airbourne--scared the SH*T out of us--we agreed to a payment agreement with both accounts *We've been paying W&A faithfully for about 1 1/2 years. *Suddenly, a late is showing up for the cc account on our CRA reports!?!?!?! Question: Without filing suit (they have documents with our signatures agreeing to the payment arrangements + we HAVE been paying), is there anything we can do to 1) get MBNA off our reports (we've disputed, disputed, and diputed) and 2) somehow get out of paying the roughly 4k we owe each account? Thanks for the input--debtchoked
I wasn't real clear about lates for MBNA on our reports: *ALL the lates (30, 90, 120+) from a while ago (actually 12/2002 was the latest) are still showing and now, all of a sudden, the cc account is showing 30 days late for 1/04??????
thanks for bumping me lbrown. I still haven't received any feedback. Maybe W & A/MBNA are so big and nasty that everyone is afraid to take them on. I know I am. What I'm thinking about doing is writing a goodwill letter to the CEO (there was another post just today with the address) and basically beg for a clean up of our TLs. I don't know if they have much motivation to do so since we've been paying W & A faithfully. I don't want to just stop paying as that is exactly what got us into trouble in the first place (when we listened to a dn company). I guess the letter is worth a try. Who knows??? Please let me know if anyone has any suggestions of how to handle this. We're quite desperate at this point. debtchoked
MBNA & W&A?? Please let me know if anyone has any suggestions of how to handle this. We're quite desperate at this point. debtchoked ><- <>- ><- <>
MBNA & W&A?? Basically your just screwed. By signing a new contract you reset the SOL and opened yourself up to a world of problems. But not totally. Depending on what state your in, you may have usury laws to use against W&A. Usury laws regulate the amount of interest that can be charged on an account. Generally, credit card issuing banks are exempt from states usury laws. However W&A is not a state federally chartered bank and is therefore not exempt. The key to getting rid of these fools would be to catch them charging interest to the point where the usury penalties kick in. Such penalties include forfeiture of the amount of interest paid, and in some cases, complete forfeiture of the principle. Also to help you out, late payments and overlimit fees, if they are being added are considered to be "interest charges" instead of penalties. This was decided in the case of smiley v. citibank.
