Consortium Reclaim

ellas9602 · 3 May 2011 at 11:26AM

hello

I've just taken a call from Consortium reclaim claiming that my credit card debt can be written off for 3 of my pre-2007 credit cards if the credit agreement cannot be produced and/or intrest rates have been increased. I don't intend delaing with this company or anything daft like that (:money:£500 fee) but is there any truth in what they say?

ellas9602 · 3 May 2011 at 3:14PM

Thanks for the replies. At least I'm armed if they continue to pester.
What about CC's increasing intrest rates - as this has happened on a few of cards lately - can anything be done?

dunstonh · 3 May 2011 at 3:36PM

What about CC's increasing intrest rates - as this has happened on a few of cards lately - can anything be done?

interest rates are variable. Best thing is not to use them.

podperson · 3 May 2011 at 3:42PM

If you don't want to accept the interest rate increase you can write to them and refuse it, however they will then generally cancel the account so you can't use it anymore.

Lapadore16 · 13 May 2011 at 12:34PM

Consortium Relcaim [TEXT DELETED BY FORUM TEAM] phoned me one day when I was off my guard through illness and persueded me to let them check my MBNA card for PPI [TEXT DELETED BY FORUM TEAM]. Know they can't get anywhere with the MBNA card as I was not sold PPI they want to liase with MBNA to get my mothly payments lower. They said if they could not do any work for me then I would get a refund. Today they said I signed the agreement and it doesn't look as though there is any refund owing. I can't afford to loose this. They don't let you get a word in to ask what the charges mean I can't tell my husband about this. Is there anyway I can get some of the money back? Has anybody else had dealings with them? If they ring you, put the phone down because they won't let you speak. I am so

and mad at the same time. Thanks. Cheryl.

googlegal · 19 May 2011 at 5:22PM

Hi,

Dont ever let companies like Consortium Reclaim talk without letting you get a word in edgeways. Ring your doorbell, say your dinner is burning, anything to get a breathing space to think. Do what I did. Yesterday they called me and gave it the hard sell and I said I had kept all my card paperwork and would read through the small print to check it out first. (I havent) Today they called back and said I had to have the paperwork sent out tonight if I wanted to do it (get all my credit card debt of £4k written off including their total fee of @£1000 by saying my debt is now legally unenforceable) . I said there was no deadline and I could take as long as I needed to make such a big decision. I now have bought myself a week to thorougly look into whether I want to go ahead. Incidentally, on the Claimsregulation.gov.uk website it does say they are not allowed to cold call or use high pressure selling - and they have done both to me!

daimaxboyce · 26 May 2011 at 1:50PM

ellas9602 wrote: »

hello

I've just taken a call from Consortium reclaim claiming that my credit card debt can be written off for 3 of my pre-2007 credit cards if the credit agreement cannot be produced and/or intrest rates have been increased. I don't intend delaing with this company or anything daft like that (:money:£500 fee) but is there any truth in what they say?

Consortium Reclaim have contacted me today and wanted me to supply details to them. They stated they were working on behalf of the Credit Card company / bank which i had an account with since 2004.
As i had several cards until recently i asked which company they were referring to, they would not say as they wanted details off me.
I advised them I was not willing to discuss or confirm bank details over the phone to a company i did not call or know anything about.
Apparently they say they are certified by the government.
I gave NO details to them and refused to deal with them.
They didnt like it one bit.

tigergirl64 · 28 May 2011 at 12:29AM

Hi there,
I'm not new to this website, i regularly get martin's newsletter as i love to know what rights i and my family have as a consumer, although i had to sign up today to make a comment on this.

I also had a call from consortium reclaim, from a young woman whos name I have written down. I never accept cold calls, but have had troubles with my credit card so I was curious of what they had to say.
They were chatting to me about a 'legal process' at first telling me they would audit my credit card to check for errors - but I told them to stop the waffle and get on to the point - And basically what they said was, if you have a credit card that was taken out before april 2007 there may be evidence to deem the card ( the term that they used >) unenforceable, or negotiate with your lenders to reduce money that I owe.

Now I told them that I was not interested in any service of that sort, as I am happy to pay back my reasonably low debt because I feel that that is morally correct, I borrowed it so I will pay it back!

However I did arrange for them to call me back after visiting their website as I wanted them to sort out my ppi claim on two card and one loan, then its hassle free and hopefully takes bare minimum time as ive heard that the financial ombudsman have been bombarded with claims and they can take years to be reclaimed.
Other companies I have researched take a LARGE sum of money upfront, as much as 30% which i think is disgusting. however as I am an older woman, I have no idea of my legal rights so i settled for a claim with them agreeing to invoice them for 25% of the claim after it has been sorted.

That just my point of view on the company - i would love to hear from anyone else who has run a claim with them too?

dunstonh · 28 May 2011 at 2:23AM

They were chatting to me about a 'legal process' at first telling me they would audit my credit card to check for errors - but I told them to stop the waffle and get on to the point - And basically what they said was, if you have a credit card that was taken out before april 2007 there may be evidence to deem the card ( the term that they used >) unenforceable, or negotiate with your lenders to reduce money that I owe.

1 - it is against MoJ rules to cold call where there is the chance of legal action
2 - There were a number of test cases in Dec 2009 which killed off the unenforceable credit claims. The courts ruled in favour of the lenders.

However I did arrange for them to call me back after visiting their website as I wanted them to sort out my ppi claim on two card and one loan, then its hassle free and hopefully takes bare minimum time as ive heard that the financial ombudsman have been bombarded with claims and they can take years to be reclaimed.

The claims companies use exactly the same complaints process you would use yourself. i.e. claim to company first, wait 8 weeks and then complain to the FOS. They cannot speed things up.

mandyb73 · 1 June 2011 at 8:24AM

I'm glad I read up on this. I too had a cold call from this company. They asked for an e-mail address to send through some information, I gave them my work one as it in no way links to any accounts I have (I was a little concerned). The e-mail confirmed £500 approx charges, which they would deduct from my credit card and then attempt to get written off. If it didn't work they would refund.

I didn't like the sound of that so told the gentleman I'd go away and research some more and get back in touch if I was interested. Let's see if they call back.............

Pamela99 · 6 June 2011 at 3:44PM

I'm an idiot. I stupidly signed up with these back in august 2010 feeling pretty desperate when a 'friend' who worked for them suggested i give them a go. they maxed out my cards putting me over my credit limit and have done very little to help me. out of 3 cards/loans they could only deem one uninforceable the rest they want to 'explore other avenues' with. i said that was not what i signed up for and i wanted a refund and they told me no its in out terms and conditions you have to do it. now i'm in real hardship and there is nothing i can do about it. Im totally gutted and would advise anyone to STAY AWAY FROM THIS COMPANY!!!

Consortium Reclaim

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