Re: MBNA and arbitration ??

Posted by Don (208.54.203.142) on June 09, 2002 at 18:00:59:

In Reply to: Re: MBNA and arbitration ?? posted by Why Chat on June 07, 2002 at 08:25:42:

I have been trying to negotiate with MBNA/Wolpoff. I have made a few offers and none is high enough for them. Of course, Wolpoff and Abramson has added nearly $4K to the total for their ounce of flesh. I have settled with four other cards for between 40% and 60%. I had originally dealt with a DN company who was virturally worthless, so I cancelled their services and went on my own. They had only settle with one card, which was after my wife talked to the card company explaining our situation. We usually only experience these problems once in a lifetime so we are all totaly unable to deal with these people. We had been to pay our monthlly payments but MBNA raised our interest to 23.99% which doubled our payments. (from about $400 to $800) I am older than dirt and we had never been late with any payments, but MBNA thought we had too much credit and we wern't lowering the balance. They decided to raise our interest to help us out. I will be happy to share any information that I have even though it is probably worthless. When you are self employed, the economy can make you loose everything and I would rather not go bk.

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