Unenforceable Credit Agreements

tommo635

I am receiving emails and hearing constantly adverts on the radio informing me :
" If a loan agreement is missing certain information then it can be ruled unenforceable under the Consumer Credit Act and you would not have to make any further payments"

Some are wanting an upfront payment, but today i received a mail from a company called Optimum Recoveries, advising a Truly NO WIN, NO FEE... not even an administration fee and NO CASH PAYMENT UPFRONT

Does anyone know what the certain information is, and is it a genuine thing?

Regards
Terry

Ekaterina

Be careful about this messages, no win no fee, I've heard that the company that advertised services on tv with no win no fee,after it's won charged fee that was considerably more than the amount in this case, so the client ended up owing money to this company. but try to get some feedback on this people and how long they have been on the market, did it won any cases yet? It sounds too promising to me unless we have some charities that give this kind of service.

Treadway1

Id be very dubious of this, as I dont understand where they would be making their money, and therefore you have to question why they would be doing this. In a court scenario (Suing after an accident say), then no win no fee is fine as the company claim their costs from the other side, however, I dont see how this company would make any money other than charging you for it. IMHO. Just be careful Id say.

Browntoa

read this LONG previous thread about the same subject

http://forums.moneysavingexpert.com/showthread.html?t=1317337&highlight=loan+written+off

cos_2

Sure, but:

Forum Etiquette

Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.

I'll be good, I hope

p6dde

hi,
I have been bombarded with e-mails, letters and even on listening to radio (Real Radio) advertisements claiming to wipe off any credit card debts if taked out before 2007.
Does anyone have a clue as to what this is actually about?

fermi

p6dde wrote: »

Does anyone have a clue as to what this is actually about?

Yes.

http://news.bbc.co.uk/1/hi/business/7894840.stm

If you are having problems paying your debts then start here: Debt Problems - Where to start, what to do, where to get help

Robert_Sterling_3

This is the first new thread on this subject that we have had today.

kaisersoze_2

I am saving a pound for every new one i see.

This time next year Rodney........................;)

poker_face

I think there needs to be a sticky titled unenforceable credit agreements at the top of the board so that maybe people wont keep starting threads.