are credit card debts unenforceable??

skicrazyrob

hi
i currently have debts on 3 credit cards and have seen an advert that claims if the cards were taken out before April 2007 that they are not enforceable. i have since spoken to the company and the call centre worker told me that someone would come round to my house, we would go through the paperwork and that is free. if they then decide they will take the case on there is a one off payment of £295. As my debts are over £2500 im wondering if it is woth going ahead with this.
I am aware that this site discourages the use of money making companies when trying to clear debts but the worker i spoke to advised me this process wont affect my credit rating, though i wont be able to get credit off the companies who i owe money too in the future.
Has anyone dealt with anything like this before as i need some impartial advice before i go any further

RAS

Hi

Firstly, you can do this without needing any company, it costs£1 for the postal order and the postage costs of a registered letter.

Secondly, it depends who you credit cards are with. The law has been in place 30 years and some companies have compleid with the law for a ong time. Others are useless.

The other thing is that if you stop paying they can put a default on your credit record and by and large will be allowed to do so. You can fight it but you have to understand that the debt does not cease to exist, it just becomes unenforceable.

McKneff

Please dont deal with these people. They are scammers and
are blinding you with words, of course cc debts are enforceable and why shouldnt they be. These people will take your money, write to the cc company, the CC will say that you will have to pay. The company then write to you and then say sorry, couldnt help. You still have to pay the ccs and they have £295 of your money, easy money for them.
It it sounds too good to be true, then it will be.
Stay well clear and pay the £295 off one of your credit cards.

skicrazyrob

Thanks loads
i did wonder where the scam would be, thank goodness for his site!!
guess il just keep plugging away at my debts. i got £5000 written off my natwest debt by writing to them and makeing a settlement offer of £4000 which they accepted!! A very kind good friend lent me the money and i have been working 6-7 days a week for the last 3 months and ive nearly paid him off already. Unfortunatly for me Halifax wont accept a reduced settlement offer so il have to pay them the full amount!! oh well ive learnt from my mistakes!!

RAS

There is an OFT warning out on these companies.

Have you reclaimed charges and PPI?

skicrazyrob

yeah, i got £280 of charges refunded yet i thought i was only owed £220! i refused their first offer of £48 and so customer services wrote back to me and offered the £280, which of course i accepted, and they paid straight away as im in finacial hardship!!
Can't reclaim PPI as i made 1 claim on the policy i was forced to take with Natwest. i remember at the time they told me i have to take out the insurance or i couldnt have the loan!

RAS

skicrazyrob wrote: »

Can't reclaim PPI as i made 1 claim on the policy i was forced to take with Natwest. i remember at the time they told me i have to take out the insurance or i couldnt have the loan!

That was completely wrong. Have you stopped paying?

epsilondraconis

skicrazyrob wrote: »

Thanks loads
i did wonder where the scam would be, thank goodness for his site!!
guess il just keep plugging away at my debts. i got £5000 written off my natwest debt by writing to them and makeing a settlement offer of £4000 which they accepted!! A very kind good friend lent me the money and i have been working 6-7 days a week for the last 3 months and ive nearly paid him off already. Unfortunatly for me Halifax wont accept a reduced settlement offer so il have to pay them the full amount!! oh well ive learnt from my mistakes!!

Respect to you skicrazyrob for working hard to pay back your debts. I've seen many a post on here where someone has lent someone else some money and they haven't then paid it back etc. Good on you...

wimblewomble_2

skicrazyrob wrote: »

Thanks loads
i did wonder where the scam would be, thank goodness for his site!!
guess il just keep plugging away at my debts. i got £5000 written off my natwest debt by writing to them and makeing a settlement offer of £4000 which they accepted!! A very kind good friend lent me the money and i have been working 6-7 days a week for the last 3 months and ive nearly paid him off already. Unfortunatly for me Halifax wont accept a reduced settlement offer so il have to pay them the full amount!! oh well ive learnt from my mistakes!!

that was lucky! :T
is there a template letter for writing off debts?
how did you word your letter, skicrazyrob? thanks

before anyone starts, yes I know I should pay them back fully. I havent missed a single payment, but the interest is stopping me reducing the capital. a partial write-off, would help me reduce the mountain, and would happily pay it all off, but for the interest

McKneff

skicrazyrob wrote: »

Thanks loads
i did wonder where the scam would be, thank goodness for his site!!
guess il just keep plugging away at my debts. i got £5000 written off my natwest debt by writing to them and makeing a settlement offer of £4000 which they accepted!! A very kind good friend lent me the money and i have been working 6-7 days a week for the last 3 months and ive nearly paid him off already. Unfortunatly for me Halifax wont accept a reduced settlement offer so il have to pay them the full amount!! oh well ive learnt from my mistakes!!

Good for you, and for plugging away at your debts. Debt free feeling will be all the sweeter when you get there by your own efforts.
Only too glad we caught your original post.
Goodluck
Annie

hannoja

Someone was telling me about this recently. He said he's done it successfully for lots of clients (he's a financial advisor I believe). He quoted £395 as being the amount to pay, (which you can use the card in question for) which you will get back, plus a £10 admin. fee or somesuch which you won't get back.. An application is then made and any correspondence is via a solicitor. He also said that it can even be done by moving money from a 'newer' card back to an older card...

Apparently, the reason that the debt is cancelled/unenforceable is because of the company's non-compliance with the law (CCA), such as charging you the wrong APR or losing your original signed agreement... Of course, some companies, as indicated above, do everything 'by the book', in which case the relevant debt would be legitimate and therefore enforceable..

It's rather different to getting rid of dodgy loan companies who chance their arm and scare you half to death for a debt that may not even existome; but companies have put as much as £4 billion aside in anticipation of such expected write-offs, so obviously many people have done/are doing/will do it.