Mbna - arrow global.

[AndrewJ]

Re: Mbna - arrow global.

I think a discussion on a repayment arrangement might be an idea if yu want to avoid court action.

If the agreement is legible, has all the prescribed terms in it and you have copies of the terms that accompanied the agreement then it is likely is will be deemed enforceable in court. If you don't have copies of the accompanying terms you can respond to them asking for those additional terms (eg. if you agreement states 'see para 12' and there's no para 12 then there's bits missing)

Without knowing anything of your financial circumstances it is impossible to say how much you should be offering to pay. If you do have lump sums available to make full and final then a 35% settlement is a reasonable starting point for negotiation. Otherwise it's a case of doing your income/expenditure and seeing what you have available from 'disposable' income.

Restons are ones for getting charging orders if they get a CCJ through court so it really depends on your circumstances how far you let it go.

Hi,

I received a call from Restons earlier, they will accept £3,500 over 3 months which is unachievable for me. I have made them an offer of £2,525 (45%) over 4 months or £3,500 over 10 months. The unhelpful person advised me this would be unacceptable and asked me to make payments while I arrange for an IVA (his client would not be held over a barrel with the threat of an IVA). He did however say he would speak to his manager.

Am I being reasonable?

Do you have any thoughts?

Thanks again for your help.

[FlamingParrot]

Re: Mbna - arrow global.

Hi,

I received a call from Restons earlier, they will accept £3,500 over 3 months which is unachievable for me. I have made them an offer of £2,525 (45%) over 4 months or £3,500 over 10 months. The unhelpful person advised me this would be unacceptable and asked me to make payments while I arrange for an IVA (his client would not be held over a barrel with the threat of an IVA). He did however say he would speak to his manager.

Can you clarify where the IVA came from? Are you considering entering into one or is that just a wild suggestion from Restons? :confused2: