Unenforceable Credit Agreements

Paul_Herring

Also, just to point out, this is not using loopholes to get out of your debts

But this is exactly how it is advertised (or certainly how it comes across) by these companies.

PROLIANT

Oh dear, here we go again.:rolleyes:

jonesMUFCforever

I think the proof is in the eating - let us know of some successful claims and I might believe it - otherwise I may be cynical but I see it as a fee grabbing scheme for desperate people.

NickX

jonesMUFCforever wrote: »

I think the proof is in the eating - let us know of some successful claims and I might believe it

I would agree, so I would ask for anyone who has completed this process to provide us with a detailed description of what was involved and what (if any) effect this had on your credit rating. Thanks in advance.

PROLIANT

NickX wrote: »

I would agree, so I would ask for anyone who has completed this process to provide us with a detailed description of what was involved and what (if any) effect this had on your credit rating. Thanks in advance.

....Hopefully those involved in this deception will have there credit ruined for 6 years, all is fair in love and war.

Walletwatch

I sincerely hope something like this does not succeed, if this becomes the norm, banks will just clamp down their lending even further, exacerbating the already severe credit crunch. I have been turned down for two credit cards six months back (hence stopped applying) and two of my existing cards have told me on enquiring that they have frozen card limit increases across the board.

If you borrow something, you are expected to pay it back, not use some technicality to evade debt repayments. I call that stealing !!!

YorkshireBoy

jonesMUFCforever wrote: »

I see it as a fee grabbing scheme for desperate people.

I tend to agree with this statement.

I worked out that if someone was successful in wiping out a debt of just a few thousand pounds they would be left with a bill for £2,000 (the initial fee + a success fee + 30% of the value written off).

Now if they couldn't find money to substantially reduce the debt in the first place, where/how on earth are going to raise £2,000?...or indeed the £495 initial fee?

...unless of course the claims companies are also licensed credit brokers (or introducers for same)?

Cynical? Moi?

PROLIANT

YorkshireBoy wrote: »

I tend to agree with this statement.

Now if they couldn't find money to substantially reduce the debt in the first place, where/how on earth are going to raise £2,000?...or indeed the £495 initial fee?

They will just borrow it and bump that lender in the process...

pt2537

Hi,

Just to clarify, i dont work for any of these companies, im a moderator on the CAG and i work for a respectable Solicitors practice, i dont wish to get drawn into the moral debate over if its right or wrong to use the law to dealk with your debts,

however i will point you to some cases which have been dealt with in some of the highest courts in the land which goes to show what can be done using the CCA 1974, incidently a piece of Consumer Protection NOT lender protection legislation

Wilson and another v. Hurstanger Ltd [2007] EWCA Civ 299

London North Securities Ltd & Mr and Mrs. Meadows [2005] EWCA Civ 956,

Dimond v. Lovell - [2000] Q.B. 216,

Rankine v Barclays Bank Plc [2005]

[FONT=&quot]Wilson v First County Trust Ltd - [2003] All ER (D) 187 (Jul) [/FONT]

Wilson v Robertsons (London) Ltd [2005] EWHC 1425 (Ch),

Wilson v Howard Pawnbrokers - [2005] All ER (D) 61 (Feb)

these judgments set out the effects of non complaince with the CCA and clearly show that it is possible. As i say i do not advocate blatantly going out to take out money and then refuse to pay it back, however my clients that i have helped and the people on the CAG have been wronged and are entitled to a remedy in law, the court decides what remedy it will give in accordance with the law. i obviously for confidentiality reasons go into the facts of individual cases but once again i will say DO NOT USE THESE CLAIMS MANAGEMENT COMPANIES, YOU CAN DO IT YOUR SELF FOR FREE

Regards

Paul

YorkshireBoy

pt2537 wrote: »

my clients that i have helped and the people on the CAG have been wronged and are entitled to a remedy in law...

Have they been "wronged" simply because the lender couldn't find a piece of paper with a signature on it, or are there some other wrongs?