writing off loans and cards taken out before 07

gaznkaz08

theres a few firms popping up now saying they can get balances cleared off loans and credit cards signed up for before april 07, using legal loopholes

thing is these firms are chraging a fair bit for doing this, is this something you take on yourself? and has anyone got any info please?

loplam1961

hi,after spending quite a lot of time helping people reclaim bank charges i got involved in the consumer credit agreement challenging and now work as a introducer for one of the companys you mention.i would just like to say that the company i work for offer a full refund if at the audit stage your agreement turns out to be enforecable.I found through my own experience with my marbles card that even though i was successfully able to argue myself that it was un-enforecable (i havent made a payment for 2 years) i didnt have the expertise to carry it forward.

oweny

Did you forget to mention your company probably charges 30% of the balance?
I do this and take nothing from the balance
owen

blueda

loplam1961 it looks like you are touting for businness

dunstonh

dont mix up the terms "writing off" and "made unenforceable". When you look at many (if not most) of the claims the companies make its that the loans are made unenforceable and are not written off.

Unenforceable means they cannot come after you for the money but they can leave it as unpaid debt in arrears on your credit file. Effectively killing your ability to get credit again.

Dotty30

I believe that a student loan taken out in 1997 has now become as you say 'unenforcable' as I have not made a payment to it at all. They have however told me that this is going on my credit file. I have an excellent credit rating at the moment and do not have either the funds to pay off the loan and do not agree with all the extra charges that have been added to the amount as they have not contacted me in nearly 10 years and have made a total mess of repayments as I have successfully paid off one student loan but they argue that this is a seperate account I knew nothing about. Is there any way of stopping this going on a credit record?

PNPSUKNET

I didnt think student loans were covered the same, its like they cant be included in bankrupcy.

chantelle01_2

I am getting my black horse loan money back- its gone through to my solictors and received a letter this morning to say they are negotiating a settlement figure. you could do it yourself but i just didnt want the hassle and not really sure what im doing lol. Let me know if you want the details- x

AYSHALOREN

Hi chantelle, i have car finance from black horse too , and i think my figures dont add up, what company are you using to look at your agreement and how much are they charging you i really want to sort it out

sam_wells

chantelle01 wrote: »

I am getting my black horse loan money back- its gone through to my solictors and received a letter this morning to say they are negotiating a settlement figure. you could do it yourself but i just didnt want the hassle and not really sure what im doing lol. Let me know if you want the details- x

have u heard anything back yet chantelle
thanks sam.

alwaysworking_2

dunstonh wrote: »

dont mix up the terms "writing off" and "made unenforceable". When you look at many (if not most) of the claims the companies make its that the loans are made unenforceable and are not written off.

Unenforceable means they cannot come after you for the money but they can leave it as unpaid debt in arrears on your credit file. Effectively killing your ability to get credit again.

Hi,

I've been looking into this, and according to creditclearuk. co. uk/faq.php (sorry I can't post links yet...!) doing this doesn't affect your credit rating, but you might not be able to get a credit card, loan etc from that lender.

Hope this helps...