Clearing credit card balances

talk_to_me_goose

I have been contacted by a company who claim to be able to clear my credit card balances, they claim that 90% of all credit agreements signed before April 2007 have loopholes that can be exploited. These include loans, morgages & creditcards.

They claim they can clear may credit card balance, my loan balance & get compensation for a morgage i was sold. There fee is £500 up front & 30% of any balance cleared.

Has anyboby come accross this before? Is this a con?

NickX

How did they make contact with you ?

talk_to_me_goose

They had a stand in costco, left my details & they gave me a call.

NickX

talk_to_me_goose wrote: »

They had a stand in costco, left my details & they gave me a call.

Thanks. The reason I asked is that this comes up on the board regularly and there is some evidence that the posters are actually representatives from the organisation itself.

If you do a search you will find much debate on these companies.

However, despite the subject being raised regularly, I have yet to hear a report from someone who has successfully completed the process.

So, if you do go through with it please come back and post details of how it goes.

Many Thanks.

talk_to_me_goose

Thanks for the reply.

The fact that they want £500 up front is what concerns me, this is such a small figure for a solicitor to charge (a hell of a lot to me) when they get 30% if successful.

If they are so confident why charge £500.

latecomer

I think you'll find plenty of alternative who dont charge anything up front if you want to try something like this. As NickX said try searching as it comes up quite often.
Personally I'd be very sceptical but as these companies exist (the ones with no up-front fees that is) they must be winning some of their cases.

Mozette

talk_to_me_goose wrote: »

I have been contacted by a company who claim to be able to clear my credit card balances, they claim that 90% of all credit agreements signed before April 2007 have loopholes that can be exploited. These include loans, morgages & creditcards.

They claim they can clear may credit card balance, my loan balance & get compensation for a morgage i was sold. There fee is £500 up front & 30% of any balance cleared.

Has anyboby come accross this before? Is this a con?

How about this for a con: you borrow money off someone and say you will pay it back; then you don't. Who is conning whom here?

You may want to remember this: if it sounds too good to be true, it probably is.

IntheZone

When I read the title of this thread I must admit I was pretty interested/excited..

Whole idea sounds like a massive con to me, this mysterious loophole that has just been discovered, and someone willing to share it with you for the paltry sum of 500 pounds..