Unenforceable Credit Agreements

fermi

NickX wrote: »

I agree that people should not be shot down in flames, but I also think that these people should be advised away from the "pre-2007 Credit Card Debt wipe-out" companies because these companies just want to take more money from them for services that they could often complete for free.

Believe me, I couldn't agree more.

So do the OFT (If they would only admit it :rolleyes:).

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

ffacoffipawb

NickX wrote: »

Hey Proliant, how are you doing, Merry Christmas mate :beer:

Your grammer is not quite correct there.

A bit rich there.

NickX

ffacoffipawb wrote: »

A bit rich there.

Grammar and Spelling are two separate things my friend

Besides as I stated I was just jesting with Proliant.

PROLIANT

NickX wrote: »

Grammar and Spelling are two separate things my friend

Besides as I stated I was just jesting with Proliant.

Yes Mr ffacoffipawb, Nick and I were just having a little banter, no problems.

sa1

Hi Comcat

Send a SAR request to the original creditor and the debt collection agency and they have 40 days to prodce the docs , if they dont have a cca which is valid then its 2009 xmas come early for you as the credit card debt would be unenforceable and you would not have to pay the debt.

Most credit card agreements prior to 2007 may be unenforceable and thousands have had millions of ponds written off fro good as the oc/dca could not find the signed cca.

Good luck send that £10 postal order to the oc and another to dca and 40 days from now you could be debt free, very importnat you go to the consumeractiongroup website as they will help you a lot more than some of the posters on this forum.

Infidel

Even though the OP on this thread is probably a troll. Good luck to anyone who can have fun and frolics on credit cards and then get their debt wiped off.
Realistically, it's not like if this didn't happen the banks would reduce interest, banks are out to screw the poor and needy no matter what the circumstances.

rodent

If upon persual of your t&c's you found the following statement, buried deep in the small print and written in Penquinese, then having taken the time and trouble to first find it, then translate it you find it says:

"congratulations as our 1 millionth customer you do not need to repay any monies you borrow from us"

Who would then think "nope, i borrowed it so i must pay it back ?"

If the "law" states that the agreement is incorrect then why would you continue to pay ?

I guess all those people who were "mis-sold endowments" should lower their head in shame for claiming compo, also anyone who reclaimed bank charges ??

I personally love CCs to bits, have been stoozing for nearly 9 years and have made a great deal of money from legally taking advantage of their t&c's.

I must also agree with Nick (Howz it going buddy!?) that these "wipeout" companies should be given a wide berth.


The Rodent

NickX

rodent wrote: »

I must also agree with Nick (Howz it going buddy!?) that these "wipeout" companies should be given a wide berth.

Hiya Rodent, on the night shift again I see.

Hope you had a great Christmas and Best Wishes for a successful and lucrative ("Rodenting style") 2009 :beer:

churchills2

hello all, well im just looking into the legal stuff about having my loan wiped out through loopholes and reading other reviews i dont believe my decision is a popular one. I took out a loan 3 years ago for £15k and have about £5k left. I have recently been made redundant and looking for work and having to be taking on NMW which I now cant afford many other payments. PPI (personal protection insurance) may have saved some money but to be honest the PPI arent worth the paper its printed on and they full of too many "should, could and woulds" and they have so many get out clauses its unvelievable (I know this as I worked for a credit card company selling the insurance and the vast profit a loan or credit company makes is through this and we had to sell the insurances and it was a hard sell or no job) but going back to the wiping of debts when i took out the loan I intended to repay the whole thing back but with the things the way they are now I am stuggling, I worked hard all my life and now Im losing it and Im worried. For years banks have been overcharging us through missed payments, direct debit recalls, £25 for a letter to say we gone 2p over the agreed limit and then charging us again for being in the red or for reclaiming DD payments and now its our turn. Wriggling out of debt isnt something Im proud of but please show me someone who is being offered £6,000 and all they have to do is fill out a few forms and make a few phone calls. Id be stupid not to. If it fails all i lose is maybe one hour of time in total and a small financial amount if its payable... what do I gain.. well I gain £6,000 (or 3 years of constant saving and going without). Im now on NMW and I am struggling to survive and its not all my fault. I dont own fancy cars or bikes, I have a mortgage and bills and im paying those and just about having enough left over to eat. If people have been more involved with this 'wipe off your debt' I would be interested to hear what you have to say, good luck to all :rolleyes:

churchills2

also whats a SAR request thats needed from the loans companies. Sometimes not even the managers of these companies know what they are and its funny feeling stupid when your trying to make a company look stupid when you havent got a clue what your talking about lol