Credit Card & Loan Balance's Wipped Clean !!!

cleggy

PROLIANT wrote: »

Cleggy I am so sorry to hear about your wife, I was not aware of your situation, I can only appologise if I have caused you any upset, don't chuck the towel in as far as MSE goes, everybody will have some positive input on the forums and although we may all not see eye to eye on all subjects I draw the line at causing any major upset to the point an MSE member chooses to leave the forum.

Cheers matey, meant alot that. Just that i dont like people judging others just because they have managed to do something about it. Yeah maybe people who have taken out lots of debts should be punished even further so that when they miss a payment they really struggle. But like me mine was a genuine case. Thanks for understanding. :beer:

digiman97

http://www.thetruthwillout.com/credit_cards.html

Paul_Herring

digiman97 wrote:

Could This Be True

To be honest, it looks vaguely like the ranting of a teenager, rather than a well-thought-out article.

Mark_Davis

Paul_Herring wrote: »

To be honest, it looks vaguely like the ranting of a teenager, rather than a well-thought-out article.

To my knowledge there is only one organisation who have successfully sued lenders in this arena.

They do not assist people who have (often deliberately) racked up debts with the absolute intention of not repaying.

They do, however, assist those who have been (often deliberately) overcharged by lenders.

They employ around 150 FSA regulated IFA's across the UK.

They have also been recommended by WHICH magazine as the primary consumer organisation in this market.

_Andy_

Paul_Herring wrote: »

To be honest, it looks vaguely like the ranting of a teenager, rather than a well-thought-out article.

American as well so not even relevant.

bertietheblue

"Claims handlers have had some successes in forcing banks and credit card companies to wipe off debts ... But the methods of many of the claims handlers are controversial, far from guaranteed, could increase credit card debts and have been the subject of a warning from the Ministry of Justice and the Office of Fair Trading."

Read the full article in the Guardian from Saturday:

http://www.guardian.co.uk/money/2008/nov/29/debt-creditcards

Mark_Davis

bertietheblue wrote: »

"Claims handlers have had some successes in forcing banks and credit card companies to wipe off debts ... But the methods of many of the claims handlers are controversial, far from guaranteed, could increase credit card debts and have been the subject of a warning from the Ministry of Justice and the Office of Fair Trading."

Read the full article in the Guardian from Saturday:

http://www.guardian.co.uk/money/2008/nov/29/debt-creditcards

I think people are better off sticking with lawyers who undertake this work on a no win no fee basis as they will only take on a case if they are confident that they are going to win - and therefore get paid.

Also, there is no need to pay anyone an up front fee in this instance as it's free!!!!

Paul_Herring

bertietheblue wrote: »

Read the full article in the Guardian from Saturday:

http://www.guardian.co.uk/money/2008/nov/29/debt-creditcards

Would that be the same article I quoted from, and linked to, back in post 230 of this very thread?

:rolleyes:

I realise you have a low post count on this site, but it's usual on most message board sites to read, if not similar threads, the same thread you're replying in.

Paul_Herring

Mark_Davis wrote: »

I think people are better off sticking with lawyers who undertake this work on a no win no fee basis as they will only take on a case if they are confident that they are going to win - and therefore get paid.

I think people are better off not gettng credit they can't afford (or worse don't intend to pay back.)

Or better still, pay off what they've borrowed. Along with any fees/interest they agreed to up-front, rather than relying on loopholes that result in them faling into the categories I mention above.

Also, there is no need to pay anyone an up front fee in this instance as it's free!!!!

Strangely enough, my suggestion also has this advantage. It has an additional advantage in that it doesn't push up interest rates for those of us still using said products because the companies need to offset the claims+fees+whatever else they end up paying for.

If you have a genuine case of mis-sold credit, by all means claim, but because you
a) can't afford it now (the point at which you couldn't afford it should have been the point you stopped using it. Or even applying for it where applicable) or
b) don't intend paying for it...

Does not give you carte blanche to foist your debt on the rest of us.

jopwo_87

Chez_Guevara wrote: »

I have been thinking about using this, but only on the companies I feel have screwed me over.

Take Capital One, for example... Set me up with a great new credit card about 5 years ago on a 0% rate, which I was happy with. Had to pay a builder for some work he'd done, but he didn't take credit cards. So I phoned Capital One and they said, oh, just use one of those cheques that we send you EVERY DAMN MONTH. So I did...

When I recently worked out my APR, they are charging me over 30%... And when I phoned them up to question this, they said it was because I had taken out CASH.

I'm sorry - that is daylight robbery. What's in your wallet? !!!!!! Turpin, by the looks of it. If they bring down the interest rate, I will happily keep paying it. But I am never going to reduce the balance if I'm paying over 30% APR. That's getting into loan shark territory, I mean damn, most store cards are less than that.

How many people are aware that you pay a DIFFERENT rate of interest if you use a credit card cheque than if you use the credit card?

So I'm afraid the air gets a bit thin when companies like that take the moral highground. I will pay my way - but it has to be FAIR.

How exactly have capital one screwed you over?? Thats mad.
We can all use your "excuse" if we wanted. "Oh sorry, i didnt bother looking at the T&C's so now when they charge me extortionately i'm not going to bother paying it back"

You owe the money, you pay it back. Simple