Unenforceable Credit Agreements

Faustino

Thanks. I've seen mention of it it some of the forums but what I mean is I would have expected there to be some information on the site itself, maybe a "how to do it" type article, like there is with the claiming back bank charges etc. It ws the absence of that which made me doubt the merits of proceeding.

Some posts seem to suggest that it is only if the lender has lost the original signed agreement that the ebt would be unenforcable (but there are problems with that if they find the agreement within thelimitation period as they could pursue for the balance plus interest. Other posts suggest the absece or inclusion of certain wording may make the agreement invalid.

please believe me it's not for want of trying (I've used the search facility) but I cannot find anything on how to do it, what wording is needed for the agreement to be valid etc.

One post indicated that there was a lengthy post on the nitty gritty of how to assess the agreement yourself in the "Debt free Wanabe" section, but I have not been able to find it, so if anyone can point me in that direction or to any other website or article that does set out the reasons and method etc. i would be very grateful

One of the posts suggested that there was a

bad_manager

does any one in the forum have any succcess story to tell about these companies boosting to wipeoff your debt and leave you clean.

onedaymyfriend

I have just come across this, I am quite interested in what you guys think. I have deleted the companies name because it could be classed as advertising & I'm not one for breaking rules. I have had dealings with this company before.

ARE YOUR CREDIT CARD AGREEMENTS WORTH THE PAPER THEY ARE WRITTEN ON?

HOW COULD YOU BENEFIT IF YOU WERE ABLE TO ELIMINATE YOUR CREDIT CARD AGREEMENTS & THEIR ASSOCIATED DEBTS ETHICALLY, LAWFULLY & WITHOUT PENALTY?

IMAGINE IF YOUR CREDIT CARDS WERE WIPED OUT –
How would your life be changed?

(The company) ensures the process of checking your credit card agreement is very simple. We ask you to fill in a simple form & then within minutes we will inform you if your credit card agreement is ENFORCEABLE.

If your credit card agreements are UNENFORCEABLE, our legal team will act on your behalf to have your credit card agreements wiped out.
It really is that simple.

(The company) provides auditing services to check that your credit card agreements comply with the Consumer Credit Act 1974.

There are approximately 50 million Credit Agreements created in the UK each year. In our experience we estimate that well over 50% of these credit agreements are unenforceable.

You inform us as to how many and which claims that you wish to pursue –

A £295 charge is required per credit agreement; this is completely refundable if there is no claim to pursue.

~Chameleon~

This is only the millionth time someone has posted this :rolleyes:

onedaymyfriend

Really? I did try searching so not to replicate!

Sorry about that!

D#

edinburgher

It's really not hard to request copies of your CCAs and make sure that the relevant information has been included on the form.

Check up on application forms and other guidance on the forums and request a new copy from your lender if needed (this will only cost £1-2).

No point in paying someone a few £££ to do it for you mate.

System

onedaymyfriend wrote: »

I'm not one for breaking rules.

This made me laugh!!! But you're willing to break the contract you signed up to with a credit card company??

Think you need to make your own mind up on this one - it has been exhaustively debated on these forums.

Regards
UNDERGROUND

onedaymyfriend

Please read my posts underground, before chirpin up.

With regards to the credit card - NO CONTRACT WAS SIGNED!

System

onedaymyfriend wrote: »

Please read my posts underground, before chirpin up.

With regards to the credit card - NO CONTRACT WAS SIGNED!

'signed up to' being a figure of speech not necessarily meaning a physical signing, but that you entered into an agreement (ie. borrow money, pay back money) and are willing to break it.

And no I haven't been through all your posts, just the ones in this thread and it is these posts I am responding to.

I'm not knocking you, so don't take personal offense - to pursue this line is a personal decision. The topic really has been done to death.

Regards
UNDERGROUND

fermi

Don't touch this sort of company with a 100ft bargepole.

Claims regulator and OFT warn consumers about risks of being misled over the enforceability of consumer credit agreements

Claims regulator and OFT issue consumer alert.

Claims regulator and OFT warn consumers about risks of being misled over the enforceability of consumer credit agreements

MoJ/OFT Consumer alert 21 August 2008

The Claims Management Regulator at the Ministry of Justice and the Office or Fair Trading (OFT) are warning consumers to think carefully before responding to businesses claiming that they can arrange for outstanding balances under loan, credit card and other consumer credit agreements to be written off and secure compensation.

Consumers are advised to seek independent advice before using the services of businesses that offer to find ways to render consumer credit agreements unenforceable. Businesses can only provide claims services if they are authorised and regulated by the MOJ under the Compensation Act 2006. Such businesses may also need to hold an appropriate OFT consumer credit licence.

Consumers may be asked to pay large up-front fees, often up to £500, for the businesses to review their credit agreements. Some businesses are claiming that many of these agreements are completely unenforceable, that consumers can have debts cancelled and claim back thousands of pounds. Consumers should think very carefully before committing themselves to making claims and handing over hundreds of pounds in advance to do so, even where refunds may be promised if the claim is unsuccessful.

Consumers with specific debt problems may wish to contact their local Citizens Advice Bureau who will often be able to provide advice free of charge. Free, impartial advice can also be obtained from the contacts at the end of this alert.

They can't do anything that you can't do yourself for virtually free with the help available on MSE and similar sites.

But please be aware that unless you are in fairly severe trouble with your debts, then this course may be more trouble than it is worth.