Unenforceable Credit Agreements

Naomim

In a nutshell, too good to be true and to be steered well clear of.

Best bet is to read these forums and then look at balance transfers etc.

Naomi x

Ippon1987

Thank you nzseries1 and Naomim for the links,

Having read some of the threads this seems to be a can of worms to avoid, some peolpe seem to get really hot under the collar about this subject.


thanks again

Ippon1987

sorry, but a bit thick - what does CAG mean?

sbuggle

If you think you have money worries,
check this guy out,
http://www.youtube.com/watch?v=cpI1y7njNAU

Funny spoof of the Visa Ad.

Hodgehappy

Ippon1987 wrote: »

sorry, but a bit thick - what does CAG mean?

Consumer action group

john_and_ann

Has anyone else heard of this?? Or tried it?? Sounds too good to be true to me!!
This is how it works:-


"Credit cards, loans and hire purchases that started before the 6th April 2007 can potentially be wiped out with the help of our legal team.
Lenders have an obligation to ensure that any Credit Agreement issued by them must comply with the complex and prescribe format that it regulated by the Consumer Credit Act 1974 (“The Act”). Failure to do this can result in the agreement becoming unenforceable; essentially with the help of our legal team, your balance can be wiped out.
Providing that you have a minimum balance of £1,500 we can help you. To see if you have a claim try our free online assessment tools,
If you do have a claim, one of our specialist claims consultants will contact you to advise you how the process works and will help you to understand everything involved.
We seek to wipe out your outstanding balance on your credit card, unsecured loan and hire purchase agreements as well as negotiating a refund of interest, charges and payments. "

nzseries1

Please see this thread, where this has been discussed extensively:
http://forums.moneysavingexpert.com/...html?t=1400177

But first, read this BBC story on the subject:
http://news.bbc.co.uk/1/hi/business/7894840.stm

never-in-doubt

nzseries1 wrote: »

Please see this thread, where this has been discussed extensively:
http://forums.moneysavingexpert.com/...html?t=1400177

But first, read this BBC story on the subject:
http://news.bbc.co.uk/1/hi/business/7894840.stm

thanks - very useful info. :T

never-in-doubt

john_and_ann wrote: »

Has anyone else heard of this?? Or tried it?? Sounds too good to be true to me!!
This is how it works:-


"Credit cards, loans and hire purchases that started before the 6th April 2007 can potentially be wiped out with the help of our legal team.
Lenders have an obligation to ensure that any Credit Agreement issued by them must comply with the complex and prescribe format that it regulated by the Consumer Credit Act 1974 (“The Act”). Failure to do this can result in the agreement becoming unenforceable; essentially with the help of our legal team, your balance can be wiped out.
Providing that you have a minimum balance of £1,500 we can help you. To see if you have a claim try our free online assessment tools,
If you do have a claim, one of our specialist claims consultants will contact you to advise you how the process works and will help you to understand everything involved.
We seek to wipe out your outstanding balance on your credit card, unsecured loan and hire purchase agreements as well as negotiating a refund of interest, charges and payments. "

To get the info you want, do a google search for consumer action group. This isn't the best site to get debt written off, CAG however, is!

Halloway

is this true - can you wipe out credit card balances legally???

Yes. The process is called "paying back what you owe". Never fails for me.