Unenforceable Credit Agreements

bert&ernie

Paul_Herring wrote: »

as opposed to the moral argument that they borrowed the money in good faith and should pay it back rather than trying to renege on that good faith and try to get out of their debt? :rolleyes:

Faith? Oh, please!

Please don't try and suggest that corporate entities like banks have faith in anything, or that they are anything other than amoral.

ALIBOBSY

What about cases where the debtor has more than paid back the original capital, but still has a debt due to high interest and charges?
I saw a thread on another site where someone had paid back many times the original amount and was still stuck with a debt made entirely of interest and charges, they had little sympathy and no help from the bank when circumstances in their life changed for the worst. I do not blame people in the slightest for going down this route.

ali x

alana2107

I am just wondering if anyone has heard of or used this company. They advertise on Century Radio and apparently have the ability in certain cases to wipe Credit Card debts if you got the Credit card before April 2007 due to some kind of loophole. It is solicitors that take on the case and they charge a fee of £295.00 for the service. Apparently they write to your Credit Card companies and request the agreement information which they are obliged to provide and dependant on the information may be able to clear the debt due to the agreement being void. Their website address is www.iamdebtfree.co.uk and there is a link to it from Centurys website and their wesbite does say they are part of the Ministry of Justice so it all sounds ok but I cant find any reviews about them anywhere on the internet which I find a bit strange. They do require the cheque for the fee upfront and once they have got your account information will send it back if you dont have a case. Anyone had any dealings with them? They are coming out to see me on Tuesday evening...

cocobean12

I woudn't give anyone my credit card Company details, let alone any company that wants £295.00 up front, just a gut instinct but I'd cancel the appointment.

lynzpower

Sounds to me like the start of IVA.
This is very serious, and you should take GREAT care.

I would ask on the DFW board for advice if I were you if you are having problems with debts.

Numpty_Monkey

I think this thread might help explain it
http://forums.moneysavingexpert.com/showthread.html?t=1083247

lorweld

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bkhall

i have heard advertisement on local radio claiming that you can possibly have your credit card balance wiped out if your agreement was signed before april 2007. does anybody know anything about this or even experienced it. Is it a no win no fee thing or do you pay fee upfront etc????

fermi

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

jd87

Total scam. Stay well clear.