Credit Issues Limited

petermb_2

greystonesben wrote: »

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

\My suggestion is simple. Before you sign up with these charlies why dont you look at companies that dont want to charge fees and dont allow cold calling. After all they will be drawing you in to break the law by the sound of it. Just watch this space regarding such actions. Watch the lenders turn on such activities very shortly and begin to insist that such companies are thrown out of the club.

My dislike of cheap, greedy, unprofessional claims companies almost matches my dislike and distaste of arrogant and equally greedy lenders.

~Brock~

Chill out Peter - there must be some people you do like :A

petermb_2

lol.
Oh I am chilled enough. I am just not keen on the dishonesty of it all from both sides.

~Brock~

petermb wrote: »

lol.
Oh I am chilled enough. I am just not keen on the dishonesty of it all from both sides.

You could always decide to do something about it and get a job in government - no dishonesty there

petermb_2

~Brock~ wrote: »

You could always decide to do something about it and get a job in government - no dishonesty there

LOL I am happy enough turning lenders, insurance companies and debt collectors over. Plenty to do afterall. Nice bunch of people in the main. Present company excepted .

greystonesben

petermb wrote: »

\My suggestion is simple. Before you sign up with these charlies why dont you look at companies that dont want to charge fees and dont allow cold calling. After all they will be drawing you in to break the law by the sound of it. Just watch this space regarding such actions. Watch the lenders turn on such activities very shortly and begin to insist that such companies are thrown out of the club.

My dislike of cheap, greedy, unprofessional claims companies almost matches my dislike and distaste of arrogant and equally greedy lenders.

Because the industry is very new at the moment. Most companies I agree are charlies. They are set up as no more than a marketing company which cold call and purchase 'leads' which they get the information for and effectively 'sell' to a solicitor. The solicitor will only get paid if it goes to court which a lot of cases which CI have taken have not needed. CI is trying to settle out of court on most cases where possible as its easier and quicker. These 'Charlies' are hoping to take it to court to get their money. CI has a solid infrastructure from what I can see with a very strong refund policy. You pay an upfront cost yes, but it will be refunded (-£50 admin fee and the £10 + £1 fee for requesting information under the DPA) if your case is not successful.

And it will not be the lenders 'turning' on companies who offer this service, it will be the Ministry of Justice, who have started 'turning' on the cowboy companies, but CI stand in good ground in relation to the MOJ and are keen to distance themselves with all these cowboy companies.

You have all good reason to have a dislike for cheap, greedy, unprofessional claims companies but IMO CI is not one of these companies. You need to seperate your own personal moral views from this subject as I feel a lot of people who are poo pooing CI and indeed this new industry as a whole are people who do not agree with the idea that people can have their debt wrote off or reduced.

While I am not happy that Joe Bloggs next to me can spend ££££'s on new clothes, new cars, holidays, home improvements etc and get it all written off for free while I pay my way and dont have credit and as such dont live as lavish lifestyle as him, the fact is that there is obviously a loop hole in the law and there are people who will want to do this. People who feel they have been treated unfairly by their banks in the past or people who are genuinely struggling. Yes people can do it themselves, like people can arrange mortgages themselves, but people still go to brokers to arrange their mortgage and as a service people have to expect to pay for that service. There may be firms which charge no upfront fee's for this service but they will hit you hard at the back end (30% of the total amount written off) which is ok if you are trying it with one card with a small balance, but to someone trying to clear 10 credit cards with balances over £25k it works out a hell of a lot more costly. I guess thats where you have to weigh up not paying an upfront fee but paying a lot back end, or paying a bit upfront but being stung back end.

I heard Martin Lewis talk briefly about this industry on Radio 1 yesterday and in my opinion, he didnt do himself any favours using 'avoid these companies with a barge pole' 'not much proven success' and 'I still dont know much about it and am looking into it at the moment' in the same sentence.

How can you advise people (who follow your every financial word like lemmings) against doing something you do not completely understand or know all the facts about? And generalise to that extent too? I thought you were meant to be a financial guru? Tut tut

greystonesben

And to boot, it the lenders which have being playing outside the rules so far. Cases of lenders fraudulently making documents, chopping and pasting documents to try to get them to comply with law etc to try and get out of paying these debts. And worst of all, employing bully boy tactics to try to retireve debt they have agreed is unenforcable!

petermb_2

greystonesben wrote: »

And to boot, it the lenders which have being playing outside the rules so far. Cases of lenders fraudulently making documents, chopping and pasting documents to try to get them to comply with law etc to try and get out of paying these debts. And worst of all, employing bully boy tactics to try to retireve debt they have agreed is unenforcable!

I am certainly not going to take a cheap pot shot at Martin Lewis on his own site so I will not comment on your statement.

As for the company you are extolling the virtues of, we have seen many people in this thread alone stating quite clearly that they are cold calling and taking people's money from their cards without consent. You also forget the £1000 fee at the back end.

This is all bad stuff and will create a need for the MOJ to become stronger and will not help those that seek to offer a professional and ethical service.

However, regardless of what others may think, there is a real need for professional claims companies in this market. I am party to information on how the lenders intend to proceed with the issue of claims in general. In the future, and I assure you, the "charlies" will be driven out of the business by the lenders themselves.

greystonesben

petermb wrote: »

I am certainly not going to take a cheap pot shot at Martin Lewis on his own site so I will not comment on your statement.

I dont feel it was a cheap shot. ML gave advise without the knowledge or information to back it up and even said that himself!

petermb wrote: »

As for the company you are extolling the virtues of, we have seen many people in this thread alone stating quite clearly that they are cold calling and taking people's money from their cards without consent. You also forget the £1000 fee at the back end.

I have read through the whole of this thread and (although I may have missed it) cannot see anywhere, where it claims CI have cold called people? Or even taken fee's without consent. There is a comment from someone saying he has been charged his £1000 completion/success fee for his first cleared credit card, but as my following on post shows, this is a misunderstanding on his part. He would have been advised from the off that after the first success £1000 is payable which is the only success/completion fee applicable, regardless of number of cases going through.

IMO a £1000 back end fee is better than a %'age back end fee if you are aiming to clear a medium to large amount of debt. Ok if its only £1000-£3000 then a %'age is probably better but the majority of people who claim, claim for a hell of a lot more than that.

petermb wrote: »

This is all bad stuff and will create a need for the MOJ to become stronger and will not help those that seek to offer a professional and ethical service.

However, regardless of what others may think, there is a real need for professional claims companies in this market. I am party to information on how the lenders intend to proceed with the issue of claims in general. In the future, and I assure you, the "charlies" will be driven out of the business by the lenders themselves.

I completely agree with the last part, regardless of peoples moral views, there is a need for these companies. Not everyone is happy to try to do it themselves or rely on charities which dont tend to provide the full support and advise you need. Only problem is, and you will get it in every industry from mortgage brokers to plumbers, there will always be cowboys out there. So if you are going to use a firm to do it for you select carefully. Just because some charge upfront fee's, doesnt mean they are cowboys. I would personally look for success cases. This is the only true measure of a firms validity IMO.

petermb_2

Where does the client find £1000 from to pay your company when their claim only reduces the balance of the loan? most clients didnt have any money in the first place?

When i said that there will be a real need for professioanl services i did not mean that individuals might prefer not to run claims themselves. The lenders are about to begin to play hard ball. If you cant litigate they will not co-operate. Those claims companies that attempt to negotiate with the lenders will get short shrift. Individuals who attempt to go it alone will find more and more brick walls. It is a planned strategy.