Unenforceable Credit Agreements

NickX

I have posted before that I know of cases where Credit Card Debts have been written off because the CCAs have been deemed unenforceable.

It is not necessarily as cut and dried as "OK, we can't find your CCA so we will write off your debts" but once the creditor knows that you are aware of your rights and mean business and their legal advisors inform them that the CCA is legally unenforceable they will virtually always eventually go for a settlement before going to court. This could be a "Full and Final" settlement or a complete write off.

The result does not occur overnight and in the initial stages the debtor is likely to receive much obstruction from those to whom they owe the money, but with persistance and the correct legal background it certainly can be done.

noah271007

Thats a very good post NickX. Can you give us examples?

NickX

noah271007 wrote: »

Thats a very good post NickX. Can you give us examples?

I personally know of someone who had £83k of Credit Card debts written off. The individual involved is an experienced solicitor and naturally had an advantage over most people.

Then most people are aware of the Rankines who have featured on national television demonstrating debts of over £100k being written off.

Francesanne

NickX wrote: »

I personally know of someone who had £83k of Credit Card debts written off. The individual involved is an experienced solicitor and naturally had an advantage over most people.

Then most people are aware of the Rankines who have featured on national television demonstrating debts of over £100k being written off.

No wonder this country is going rapidly down the pan. What a load of fiddling b...ers!

noah271007

iKennett wrote: »

mmmm, I don't agree with people using this as a way to get out of paying their debts but I can't help to think that in the same position I would probably be trying!

Very true - depending on the circumstances like suffering hardship. All i can say who is to blame for this "loophole" to be left out? It should have been covered and ensure there is no such loopholes existed. We all know where to point the blame and i think that should be the end of it.

To be honest its sums up by saying "you couldn't make it up"!!!

simon_templar_2

zenmaster

Francesanne wrote: »

No wonder this country is going rapidly down the pan. What a load of fiddling b...ers!

NickX wrote: »

The individual involved is an experienced solicitor

He's a solicitor - it's in the job description!

bert&ernie

PROLIANT wrote: »

Why not?

Because both propositions would appear to be mutually exclusive.

I say appear, because I suspect you may be conflating a philosophical argument and legal one. I would say that these are quite distinct.

Simon, I may well have two much time on my hands, but for you to call me uptight is just a little to glib, even for you. You'll have to do better than that;)

simon_templar_2

Yeah ok i will go and revise!

bert&ernie

simon_templar wrote: »

Yeah ok i will go and revise!

Its OK, I see your have already tried.