Credit Issues Limited

MAK

I have been looking into this and have found a lot of confusing information on different sites. I have spoken to the Compliance people at the Ministry of Justice and aparantly the licences for this kind of thing started being issued in July 2008.

I did find one site that gives much more information about what this is about.

http://www.mortgagebrokers4london.co.uk/debt-write-off.htm

Has anyone dealt with them?

greystonesben

Firstly, before I get scrutinised for being a newby by the regulars who appear to get a kick out of being a forum messiah, I would like to state that at present, I do not work for Credit Issues, although it is something I am considering like a previous poster.

It has been mentioned by a few different posters on here that this is all something you can do yourself and there is no need to employ a company like this to do it for you. I would tend to agree with you if like you, the person looking to do it works in the financial industry and has a high knowledge and keen interest in the CCA. However, joining us in the real world, most people do not.

Annieadvisor, can you change a cam belt in your car? Im sure you could, but whether you would or not is a different matter. Anyone can get a book on how to do something and attempt to do it themselves, but fact of the matter is people dont. Otherwise, we would all be competent Doctors, Lawyers, Dentists, Vets, Teachers and Financial Guru's! I would easily be able to find a mechanic and get his advice on how to work on my car. Doesnt mean I would want to do it or even have faith in my own ability.

I could follow a cake recipe to the written word in a cook book and still mess it up by making a small mistake, if I didnt know what a mistake would look like until the finished article, how would I know I had made a mistake. Its all well and good financially astute people shouting everyone can and should do this themselves because they would have confidence in doing it themselves, but not everyone is the same. If someone asks for an opinion, then facts should be stated. A lot of what some of the regulars have stated which I have read is their opinions, distorted by their moral views of the sitution.

Whether your thoughts on someone getting their debt written off is that it is ok or that it is wrong is irrespective. Facts are what people are after and from what I know, the facts are as follows.

The industry is very new, only around a year old, so the fact people are questioning their success is absurd. With anything that involves going through court, it is not going to happen over night. They have had some success cases, but the majority of their cases are pending the results of some 30 or so test cases which are going through court at the moment which they will have a decision on within a month. These cases will set the precedent for hundreds or thousands of other cases.

The one thing which sets Credit Issues aside from other companies like this is that the company is actually part owned by a legal firm. They have employed a top barrister to guide them through what they can and cannot do and have fully prepared information on what is enforcable and what is unenforcable. They are not just going into this winging it, like a few of you may be thinking.

Most other companies might charge lower upfront fee's however, essentially these other companies are marketing companies linked to a solicitor. They will earn their money from court costs if they win, so rely on cases going to court, otherwise they dont get paid. These are the companies to avoid. From what I understand, Credit Issues actually are looking to settle out of court in the most of their cases.

CIL are giving banks 3 times more time than they need to when chasing documentation, so they are not in it to make the quick buck. It would be silly to assume, CIL are not looking to make money from this. Of course they are, they are a business and to slate them for wanting to make money is absurd. The fact is they have a skill and a service to offer which most normal people cannot or will not do themselves, ergo, they pay somone to do it.

Someone mentioned above why they were given a link which lead them to the CIL site but was something like 2good2betru.co.uk or something. This is because that was the personal site of the rep you saw. All information you enter on that site is forwarded to that rep. CIL provide a generic website to all their reps which is personalised to each rep. The rep has chose the name of the site, so I wouldnt reas too much into that. It is just so that rep gets paid if you do business through the site.

Re your credit profile, CIL do not garuntee it will have no effect on your credit profile. What I understand is that if the bank cannot or will not provide a copy of your signed agreement within the 14 working days time limit they are given, then automatically they are in default of the agreement. This does not mean the debt is written off or unenforceable as it stands. You are legally able to suspend your payments until the dispute is resolved. What this means is that the bank cannot legally take you to court and leave a CCJ on your profile. However, they can continue to register missed payments on your credit profile, so it will affect your credit. However, by negatively affecting your credit profile, the bank is actually breaching the banking code and the banking act. So a lot of these test cases include clauses about the banks rectifying the clients credit file.

I am currently considering becoming a rep for CIL, I am eager to see the result of these test cases and do not believe it is a scam. I know it is not.

Anyone considering the services of CIL should make their own informed decision. Just read the T&C's. Yes some of the posts may have been 'plants' but equally they may be genuine. You dont have to take the advice of some jumped up internet know it all who would easily be able to do it all himself/herself, so therefore assume everyone else can do it all too!

aust26

hi i am a newbie to this but i stumbled upon u ,
i am currently using ci and have been since september ,i have put through 4 cards and a loan 11 grands worth,just had my mint 1 cleared in JAN £2200 all good i think,then i received a letter saying my next card[HALIFAX CLASSIC} was deemed unenforceable great i think .2 months later march 9th they tell me this card is actually deemed enforceable, funny that as i have just payed them there capping fee off 1000, ANY HELP PLEASE as i dont no what to do now

~Brock~

Complain to the Ministry of Justice. They have mislead you, possibly with the intention of first getting the £1000 off you before letting you down with the actual truth.

petermb_2

Amazing how all these Credit Issues clients appear to stumble upon this site and then stumble upon this thread. The world seems to be full of companies who claim to be writing off agreements within days. Grief I wish it was actually that simple. I would have an easy life.

SIBBO69

I am currently having 13 loans/cards looked into by CREDIT ISSUES...

Yesterday, I received 11 letters, confirming that NO ORIGINAL AGREEMENT had been received (in response to requests with £10 and £1 cheques), and thus on that basis, none of these agreements would be enforceable...

BUT also confirming that they would give the creditors more time to respond, before taking the matter further!

IF you only ever read 'headlines', then you WOULD mis-interpret these 11 letters as saying that you were clear!!!

...yet CI are actually quite clear about what is really happening, and are very good at keeping you "in the picture" regards progress etc, so I'm certainly NOT taking this as being clear, and instead expect the whole process to take another 2-3 months or more (has taken 1 month thus far!).

AUST26 may merely have mis-read / mis-interpreted what was written, or just read the 'headline', and not fully read what CI had said... NOTHING is over till the FAT LADY has sung - in this case, a letter confirming clearance of the debt!!!

Diverkev

petermb wrote: »

Amazing how all these Credit Issues clients appear to stumble upon this site and then stumble upon this thread. The world seems to be full of companies who claim to be writing off agreements within days. Grief I wish it was actually that simple. I would have an easy life.

Probably the same way I did Googled Credit Issues and this was about the 3 link listed dead easy really.

greystonesben

aust26 wrote: »

just had my mint 1 cleared in JAN £2200 all good i think,then i received a letter saying my next card[HALIFAX CLASSIC} was deemed unenforceable great i think .2 months later march 9th they tell me this card is actually deemed enforceable, funny that as i have just payed them there capping fee off 1000, ANY HELP PLEASE as i dont no what to do now

From my understanding...

The capping fee relates to your first success. You only pay £1000 once so if all of your cards got cleared you would only pay the £1000. Because your first card was cleared, you are charged the £1000. If you have any other card successes you wont pay £1000 again.

Hope that clears it up.

petermb_2

greystonesben wrote: »

From my understanding...

The capping fee relates to your first success. You only pay £1000 once so if all of your cards got cleared you would only pay the £1000. Because your first card was cleared, you are charged the £1000. If you have any other card successes you wont pay £1000 again.

Hope that clears it up.

lol from my understanding !!!!!
Agent or staff?

greystonesben

petermb wrote: »

lol from my understanding !!!!!
Agent or staff?

lol, you joker you.

I think I made it pretty clear in an earlier post that I was considering becoming a rep. So I know the answer to this from the information I have been given already.

I would of expected better from someone with over 1000 posts on this site. Obviously you just read what you want to see and comment on the bits you feel you can stick your 5 pence worth in on.

Must.try.harder