"Write Off" your debt companies

Tixy

You can do it on your own by reading the info here and with the help of the people on here.

Do you have a copy of the original loan agreement? You need to CCA the loan company. That means you send them a letter asking for a copy of the original signed agreement. If they can't provide you with one (and they often can't on older loans) then the debt in unenforceable.

Hopefully someone else will come along with a letter template for you and confirm if this advice is correct. If you say who your loan is with someone may be able to tell you if the company are likely to have a valid CCA.

10past6

billsindebt wrote: »

Any advice would be appreciated

You'd be better of having a :beer: with your money

There's nothing anyone can do for you that you can't do yourself on here.

billsindebt

Hi Thanks for the responses

My unsecured Loan is with Northern Rock I have the agreement and I will try and go it alone once I find the right letters etc to start the process so I will not be using Claims Warehouse but you can appreciate it's tempting to get the whole loan cleared off

Broken_hearted

Unless you are having trouble paying and they are hounding you there is no reason to check something you know you owe.

stapeley

[quote=

billsindebt

;19218485]Hi Thanks for the responses

My unsecured Loan is with Northern Rock I have the agreement and I will try and go it alone once I find the right letters etc to start the process so I will not be using Claims Warehouse but you can appreciate it's tempting to get the whole loan cleared off[/quote] No guarantee it will succeed ,but you have to pay a percentage up front, and put yourself in more debt .

fatbelly

billsindebt wrote: »

he say's that prior to april 07 most loans etc can be written off.

And by the way, that statement is rubbish...

Danny_Stott

Hello,

Hope all's well, great site

Me and my wife are currently looking at ways to solve our debt problem, we are receiving bank charges on a monthly basis. We have a personal loan which we took out to consolidate other debt. We are paying 417 pound a month which will be paid off next October (there's about 8k left on it). We went to our local branch to see if there was anything they could do, they suggested increasing the loan to 10k and extending it over 8 years. The only drawback is the apr, it is currently at 5.9% however they have informed me it will more than likely be around 8.9% with the new loan, but will reduce monthly payments to 150. It does seem like the only option as the extra money would help pay off credit card debt which is at 16.9% apr and will stop us from getting charged every month.

A friend has recommended a company that can supposedly write off loans that were taken out before 2007 due to the legal documentation not being drawn up properly. They take 300 for the pleasure and could take up to 9 months. Sorry if there is loads of info on the forums about these companies, I just haven't heard much about it to be honest. It seems to good to be true. However if we do extend our loan, it will be under new terms and conditions meaning we wouldn't be able to claim any of it back. This is the site http://promo.gmgradio.com/3112/

Has anybody had any success with these companies?

Thanks,

Danny

Tigert

These companies are doing what you can do for free. If you look at the forum for posts about Requesting CCA (Consumer Credit Agreement) they will describe how to do it. Please don't use companies that charge. The debt will not be written off, you will still owe it, however it will be unenforceable by the courts if it cannot be provided or if it doesn't fit the correct format.

If you are struggling with your finances, far better to contact one of the debt charities or free debt management companies. They will be able to advise you on you options. These are National Debtline, Payplan, CCCS or Citizens Advice. All the contact details are in here (be careful if you google them, it will come up with others that you have to pay for).

fatbelly

Danny_Stott wrote: »

Me and my wife are currently looking at ways to solve our debt problem, we are receiving bank charges on a monthly basis. We have a personal loan which we took out to consolidate other debt. We are paying 417 pound a month which will be paid off next October (there's about 8k left on it). We went to our local branch to see if there was anything they could do, they suggested increasing the loan to 10k and extending it over 8 years. The only drawback is the apr, it is currently at 5.9% however they have informed me it will more than likely be around 8.9% with the new loan, but will reduce monthly payments to 150. It does seem like the only option as the extra money would help pay off credit card debt which is at 16.9% apr and will stop us from getting charged every month.

It's unlikely to be the only option. Please post a statement of affairs , probably better in a new thread, and let us see the whole picture.

In the meantime, don't get involved with the sharks. Tigert's comments are correct.

susan103

Has anyone had any experince with a company called First Step Finance, they claim to be able to rid your credit card debt due to a wrong agreement, in as much as unagreed raised limits, or lack of the original contract and so on. Is this pipe dream stuff or has anyone been successful in such a claim