had a 7900 balance w/ MBNA charged off at the end of May. i was assuming that it would go to a colletion agency first, but i rec'vd a letter from an attoreny's office requesting pmt in full. i called them to inquire (my mistake for calling?) and they said that since i called w/out agreeing to make the pmt in full, they will start the procedures for filing a suit against me. he told me that i could make the pmt now (or even break it out in 3 pmts) and it would be fine. otherwise, i would be rec'vg a summons to go to court. anyone else w/ mbna experience this? i spoke w/ a BK lawyer and he sd that it's possibly just scare tactics (worked very well on me) and that i really takes much longer for them to get to a point where they would summons me to court. any help???? my heart is just racing right now =0 thanks...deo
They're trying to scare you. Like you said...it worked. If you don't have the money, you don't have anything to worry about, right? What are they going to do? If they sue you, go see the bankruptcy attorney again. Or, go to court and force them to prove you owe the money. It's your call....
so basically, i still have time right? i think i'll be filing BK but still in the beginning stages of planning/considering it. i have an appt w/ a bk lawyer on monday. i do have a mortgage/house that the law office mentioned that he said they could put a lien against, but he made it sound like all this was going to happen w/in the next couple weeks. does having the house/mortgage increase the possibility that they could go after it (is that the term?) anytime soon? has anyone dealt w/ and mbna account like this? thanks...Deo
I had a similar experience with MBNA last year. I owed significantly more money than you (19K) and it hadn't gone to a chargeoff status yet. But, they threatened a lawsuit (esp. for that am't of $$) and through my research, I found out that MBNA has a reputation for very aggressive debt collection. They go straight to the attorney phase and if you have a house and they win a judgement against you, they will put a lien on it. They already knew what assets I had -- a house -- and I decided to save myself the significasnt aggravation of a lawsuit and settle w/them. They accepted 40% and I have an R5 on my CR. BTW, they would not negotiate a better rating on my CR even though I had an attorney call them about it as well. I was happy to get them off my back and move on. But, if you're contemplating a bankruptcy, get moving fast on that. If you're out of state and they have a Delaware law firm, it will take them awhile to get papers filed, etc. Protect yourself and whatever assets you have left. Best of luck to you!
If they are like Providian they are serious about the judgment. One month after my account was charged off, Providian filed suit.
Technically, a creditor can sue you the first day after default if thats its choice. Once you default on a payment agreement, they have no obligation to wait before filing suit. They normally wait to see if you will be able and willing to pay or to see if they can settle. However, like I said, there is no concrete rule a creditor must wait x # of days after default to file a lawsuit.
maybe i should've waited the 30 days before i called them (the law firm). by me calling, they said that they assume i agree to the balance and that i'm not disputing it so they can proceed w/ the process. i'm wondering if i can STILL write them a letter or call and tell them that i'm disputing it. will this give me more time before they can start the process? i'm just trying to delay them as much as possible so i have time to meet w/ the BK attorney about filing. also, my HR rep at work told me that the law firm faxed her an employment verification request. i'm leaving my current job next week and beginning a new job. how will they now where i'm at??? thanks, deo
