are credit card debts unenforceable??

MeeBroke

So it had to be before April 2007? Every time I think I understand this, I get more confused. Do I have to have signed something, as I have never signed anything in regards to my CCs.

RAS

hannoja wrote: »

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.

Your contact is making a mint taking money from people who could do this for themselves as thousands already have on here and the CAG web-site.

The OFT actaully has a qwarning out about companies who charge up-front fees for this sort of case.

skicrazyrob

i just basically explained to them that i have made the mistake of getting into debt that i cant afford. ( i originaly had finance through natwest for a car and a student overdraft, but they told me to take out a loan to combine the two and pay my other debts off, basically a consolidation loan!) i advised them that after having spoken to citizens advice im considering an IVA or banckrupcy? i then told them that a friend would be willing to lend me £4000 if they would accept this, which makes finacial sense to them as they would get very little if i was bankcrupt or IVA! it took quitea few phone calls and letters bu with my persistence they accepted, oh and i also started lower on my offer (£3500) so when i increased the offer they agreed!
i know a lot of people say you should pay off your debts in full but it was irresponsible lending that got me into this mess and until you have made the mistake for yourself its easy to say you shouldt let yourself get into debt!

skicrazyrob

so what is the process for doing it yourself, do you have to write a letter to them and find out certain things? is there a template?

skicrazyrob

yea i stopped paying for PPI a long time ago