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Posts Tagged ‘MBNA’

It is estimated 85% of customers take out loan protection insurance when purchasing a loan, credit card or a mortgage for redundancy insurance or critical illness cover. However, many customers have purchased loans without realising that payment protection is attached, or have been mis-sold credit cover with their loans, resulting in paying unnecessary insurance.

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A COURT has wiped out an £8,000 credit card bill because of mistakes made by the issuing bank when it set up the deal.

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An application was received at the Credit Issues office from a client with over £24 600 on 3 separate credit cards, with all cards being with the same bank, MBNA.

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Several rulings by various District Judges have validated that strategy and in most cases so far, those “true copies” have not been made available. So with no documentation forthcoming, a positive outcome for Credit Issues’ clients challenging the entire balance (whether they are being pursued by the original lending institution or the debt has been assigned to a debt collection agency) is highly likely.

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Credit-Card firms have been accused of stalling on refunds to consumers owed money by companies that have gone bust – despite being legally obliged to pay up.

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The world’s second largest credit card company has been sending letters to what it describes as its ‘best’ customers, announcing it has raised their credit limits.

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MBNA, one of Britain’s two biggest credit-card providers, is demanding bigger payments in the latest sign that the rates squeeze is spreading.

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Some MBNA card holders are facing shock interest charges when their 0% deals come to an end.

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