Unenforceable Credit Agreements

Barnsley_Dave

YorkshireBoy wrote: »

The £120 fee covers the £1 agreement request (and the stamp for the letter :rolleyes:).

There's a (potential) share up of 25% of any 'winnings'. Sadly, for the customer, it's shared between the company and it's legal panel. :rotfl:

Nice twist on the conventional T&C's for this type of company.

I won't post the T&C's though, or any other link, for obvious reasons.

Ive looked at the T&C's. No 25% cost unless the debt is under 5000. hence why you put (potential). How much is your MBNA debt for buddy?

YorkshireBoy

Barnsley_Dave wrote: »

Ive looked at the T&C's. No 25% cost unless the debt is under 5000. hence why you put (potential). How much is your MBNA debt for buddy?

Approx £23K, but it's OK...I've got it covered (the money's making 7% with Egg).

Thanks for the interest (if you'll pardon the pun) though. :rotfl:

NickX

YorkshireBoy wrote: »

Approx £23K, but it's OK...I've got it covered (the money's making 7% with Egg).

Go on YB, surprise us all and challenge your CCA. You may get away with £23k written off and keep an unblemished Credit File :rotfl:

TrickyDicky

Can I also guess you can put the £120 on the credit card you're trying to cancel? lol

I always wonder when these companies then charge a %age of the winnings, what are the claiments expected to pay with? You only get the debt written off - its not like its sat in your bank account.

Like if you "win" £5k, then surely you've already spent it (hence the debt), but now you owe your solicitor £1k? Time to take out another unenforcable debt?

jamalfatty

Barnsley_Dave wrote: »

Well I used a company (see other threads) who gave me a full refund when they found it enforceable. I think there are now people on here that can help you but I think it is quite wrong to use information off somebody that has no legal qualifications as it may land you in the brown stuff.

So instead you should trust all your personal details to a website from a company no-one's ever heard of that was probably set up 2 weeks ago by what looks like a ten year old for his school project?

Grade_A_Reject

The pic on the home page is just ripe for photoshopping. :rotfl:

PROLIANT

TrickyDicky wrote: »

Can I also guess you can put the £120 on the credit card you're trying to cancel?

Sounds like a plan....;)

TrickyDicky wrote: »

I always wonder when these companies then charge a %age of the [strike]winnings[/strike] I mean stealing's!

gwingwyn

oops - title shoud say:
"company claims to clear credit card"

there's a company out there saying they can clear your debts if the agreement was made before April 2007:

"You may have seen on TV, a documentary reporting claims under the Unfair Credit Agreement where people have written off over £100,000 worth of debt. In 1974 the Government passed a law to protect consumers from being mis-sold financial products such as credit cards and loans. Under the Consumer Credit Act 1974, Lenders have to comply with 14 points of legislation. If the lender does not comply with 1 point in the act then the financial agreement becomes illegal and unenforcable and therefore cannot request the monies back"

does anyone know about this? i thought i might try it but their fee is £250. although you can pay it with the credit card they're going to clear...

EJ

NickX

Don't do it !!

Why pay someone to complete an administrative process that you could do yourself with a little time and research

Gaz_Lee_2

Regarding http://www.personalfinanceclaims.com/

Now heard about this on Century Radio. So went on the website and filled in my details, was ok with that as didnt ask for any credit card details so filled it in and then they would contact me.

They rang me at work, sounded very professional, very quiet background and advised on the procedure and asked when one of the team can come out and see me.Now she stated she had nothing till the end of Feb which i was a little surpised and she filled me in. Now they state if you had a credit card before Aug 07 then they can claim all the charges back, interest and clear the balance and what you have already paid.

The girl advised when a member from the team comes out to see me, then a fee of 495 will be required in order to progress the claim. Read the website and it states around 9 months to fully complete and a full refund will be rewarded if unsuccessful.

I just want advise as on the montly email from Martin Lewis then i cant see any mention off this website or any articles to read. If it is genuine or any other uses have used this and having claims processed then i would appreciate a response and advise and of course from the experts. Also if it is could Martin Lewis perhaps do an article on it in and perhaps research and advised others. Just dont want to pay 495 then 9 months down the line, the website has dissappeared and no trace of them.

Any advise would be great...

Many Thanks