Help needed.

chrismoney1800

Hey Guys,

I was listening to smooth radio at work and their was this advert saying that if you have had credit/store cards and you got them before April 07 you can have your debt written off? I dont know if thats entirely correct, but It was along them lines.

The company advertising may have been along the lines of cardtel?

Has anyone heard of this?

Thanks!

skylight

CAN is impossible. Perhaps may be better, and they charge you a hefty fee per agreement whether your debt is enforceable or not.

Some of them also use this method to disguise and sell you an IVA instead.

RAS

What they are refering to is that if there is no Consumer Credit Agreement, then the debt is unenforceable.

it only applies to some debts and most aquired after 2004 have the proper paperwork.

If you want to do it, you need to understand the down sides as well as the up sides. Will post a link in a mo.

And it costs £1 plus postage and folk on here do it all the time, with varying degrees of "success".

RAS

The info in the following post is worth reading if you are going to take this route.

Link: Basic information on Credit Agreement requests

Just so that you have an idea about some of the pitfalls from the start.


courtesy fermi

rayday2

This myth is going round a lot and its simply not true. It is possible to request copies of the signed credit agreement and if they can't provide them then legally the courts cannot enforce it.

But if you have a good credit history you run the risk of having defaults registered which is better avoided.

Also they can keep passing the debt onto different debt collecting agencies so you could spend 6 years waiting for other agencies to get on the case.

If you are struggling with debt commitments the best advice I can give is to see help from a debt charity there is always an answer never a quick fix.

chrismoney1800

Thanks guys.

Thats helped as I don't have a clue. I have written to my debtors and offered them a lower repayment until the sale of my house. Also I am considering PPI refund thing.

Thanks!

rayday2

If you have taken PPI out and you don't need it then go for a reclaim - I got mine within a month of one letter going out. £4k for a months work is not bad at all!

Also look into any bank charges on bank accounts or credit cards and get those in the pipeline could take a while longer (probably will!) but its better eventually in your pocket than anyone elses.