Please Help!

iVillage Member
Registered: 08-14-2006
Please Help!
8
Wed, 09-19-2007 - 7:15pm

We had our MBNA account sent to collections for the full amount. I am assuming this is a charge off? I havent asked. We were only 1 month behind, but were on a hardship promise and missed one month. The total is 8740$. I spoke with the company today (creditors interchange) and the guy said I would be getting papers served and possibly garnish wages. He was surprised that hadnt happened yet. Whatever that means as well.


So,

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iVillage Member
Registered: 03-17-2003
Wed, 09-19-2007 - 7:37pm
MBNA has a track record for aggressive collection and for a
iVillage Member
Registered: 08-14-2006
Wed, 09-19-2007 - 7:50pm

Thanks for your reply. Is what happend called a charge off? Is this what our report will show?


And yes, we have a written settelemt document stating the lower amount. I have it in my hands!



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iVillage Member
Registered: 03-17-2003
Wed, 09-19-2007 - 8:05pm
A creditor will write off bad debt.
iVillage Member
Registered: 08-14-2006
Wed, 09-19-2007 - 8:09pm

So, who just got paid the 6300$ today? Will MBNA know we paid something???


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iVillage Member
Registered: 03-17-2003
Wed, 09-19-2007 - 9:08pm
You can call MBNA and ask if payment was posted to your account.
iVillage Member
Registered: 08-14-2006
Wed, 09-19-2007 - 9:22pm

This is what is states:


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iVillage Member
Registered: 03-17-2003
Wed, 09-19-2007 - 9:43pm
It all looks in order to me.
iVillage Member
Registered: 09-15-2005
Fri, 09-28-2007 - 4:38pm

As Carolyn said, we can't tell you what the creditor will do. Knowing MBNA, this is what may most likely happen to your report.


You'll get one line from MBNA saying, "charged-off, paid, settled for less than full balance"
This one will be a negative, even though it's been paid.


And then you may get one from the collections agency saying, "paid, settled for less than full balance".
This one can either be negative, positive, or not even listed.


This is how my DH's paid collection's/charge-offs report.