"Write Off" your debt companies

rog2

steve--999 wrote: »

I did read that in an earlier post but didn't quite understand. Please explain.

Let me attempt to explain, please.

There is no easy way to 'write off' or 'cancel' debt, other than to pay it.

There are, however, situations where debt may be unenforceable through the courts.
This could be due to a myriad of different reasons and each case needs to be looked at individually.
Where certain anominalies exist it can be possible, using the law, to prove that the 'debt' is unenforceable. This does not, necessarily, mean that the 'debt' is cancelled, or, indeed, disappears - simply that it can, no longer, be pursued through the courts. Although, normally, if a debt can, no longer, be pursued through the courts, the creditor/dca should cease all other attempts at collection, this can not be guaranteed, as these companies seem to imply.
As there is no set process, it would e much better if you were to actually tell us what your problem is, and how you feel it may be 'unenforceable'. We will, then, be in a much better position to advise if there is any particular 'legislation' that covers your particular set of circumstances.

RAS

sam.katelin wrote: »

Many thanks for being so helpful and taking the time to reply. I'll do what you say if/when I get anything back I sent three letters off today using the templates off the website with a £1 postal order, recorded delivery.

Hi this is the 12+2 DAY letter. The one you pmed is the 12+2+30 DAY letter, so keep it ofr later.

Notice of Default

Under Chapter 39 Parts V and VI of the Consumer Credit Act 1974 – Non-compliance with a reasonable and lawful request to supply a true and original signed copy of the Customer Credit Agreement for account number xxxxxxxxx (original letter enclosed for your convenience, signed on behalf of your company on the XXXXXXX 2008)

xxxxx
xxxxx
xxxxxxxxx
xxxx
xxxxxx
xxxxxxxx

Following xxxxxxx's non-compliance, as stated above, this account is now in Dispute. And as such is bound by legislation as laid down in the Consumer Credit Act 1974 (plus revisions) and the Data Protection Act 1980 (plus revisions). A non-exclusive list of key sections is highlighted below for your perusal:

• No interest or penalties can be added to this account whilst it is in dispute
• You are not allowed to directly or indirectly request the payment of any monies whilst this account is in dispute
• Following a period of 30 calendar days from the default date, if you have not provided a true and original signed copy of the Customer Credit Agreement I am not obliged to pay any monies to you
• You are not allowed to communicate any of the information regarding this account or any personal information to any third party unless they have the rights to such information and only then with my written consent

Failure to follow any of the legislation laid down in the said acts will result in representations being made to the Office of Fair Trading and The Information Commissioner

This letter in no way excuses you from supplying the information requested in the first part of the attached original letter.

I await your response by the date 2008

RAS

SAm - this is the info on enforeceable CCAs

IS MY AGREEMENT ENFORCEABLE( Via section 127(3) CCA1974)
PRESCRIBED TERMS FOR THE PURPOSES OF SECTIONS 61(1)(0) AND 127(3) OF THE
CONSUMER CREDIT ACT 1974 Taken from sced.6(1983/1553) regulations
(If you just want to find out, skip the bits in between the stars it’s just some extra information)

**What do we mean by unenforceable?
In the Consumer Credit Act section 127 there is a provision for making an agreement unenforceable if it does not contain certain pieces of information.
Subsections 1,2,3,4 state which pieces of information these are, and everything mentioned there must be included within the body of the agreement, if one is missing the agreement is unenforceable.

How does unenforceable differ from enforceable with a court order only?
When an agreement is unenforceable it means that the court or the judge cannot make a ruling on it. The court cannot make it enforceable.
When an agreement is enforceable only by ruling of the court it means that the agreement can be stopped by the debtor but the court has the power to re-instate it and allow the credit to continue to enforce.**

The Prescribed Terms are these

A Amount of credit
A term stating the amount of credit

B Repayments
A term stating how the debtor is to discharge his obligations under the agreement to make the repayments, which may be expressed by reference to a combination of any of the following-
(a) Number of repayments;
(b) Amount of repayments;
(c) Frequency and timing of repayments;
(d) Dates of repayments;
(e) The manner in which any of the above may be determined; or in any other way, and any power of the creditor to vary what is payable.

C Rate of interest
A term stating the rate of interest to be applied to the credit issued under the agreement
D Credit limit
This may be a term or the manner in which it will be determined or that there is no credit limit.

---

Which of these applies to you depends on the type of agreement you have?

For a Running Account (credit card) agreement

BC and D Apply

For a Restricted Use Debtor Creditor Supplier

• Where the dealer is the supplier and the creditor is the one providing the finance.
• The money can only be used for the purpose it is given.
• There is no interest on the purchase (the cash price is the same as the total price)
• And there is no advance payment

A is applicable

For a fixed Sum Credit Agreement
A conventional credit agreement with none of the above restrictions

A and B apply

For a Hire Agreement

B is Applicable

This paper only covers section 127(3) of the Act agreements can also be unenforceable by contravention of sections 1 and4 this will be the subject of the next paper.
Please note that these Prescribed terms where not changed in any way by the 2004/1482 Ammendments although the form in which they appear on the agreement was. Subsection127(3) was repealed on the 6th of April 2007 so that unenforceability due to 127(3) will only apply to agreemens executed before that date.

Neillgb

RAS wrote: »

SAm - this is the info on enforeceable CCAs

IS MY AGREEMENT ENFORCEABLE( Via section 127(3) CCA1974)
PRESCRIBED TERMS FOR THE PURPOSES OF SECTIONS 61(1)(0) AND 127(3) OF THE
CONSUMER CREDIT ACT 1974 Taken from sced.6(1983/1553) regulations
(If you just want to find out, skip the bits in between the stars it’s just some extra information)

**What do we mean by unenforceable?
In the Consumer Credit Act section 127 there is a provision for making an agreement unenforceable if it does not contain certain pieces of information.
Subsections 1,2,3,4 state which pieces of information these are, and everything mentioned there must be included within the body of the agreement, if one is missing the agreement is unenforceable.

How does unenforceable differ from enforceable with a court order only?
When an agreement is unenforceable it means that the court or the judge cannot make a ruling on it. The court cannot make it enforceable.
When an agreement is enforceable only by ruling of the court it means that the agreement can be stopped by the debtor but the court has the power to re-instate it and allow the credit to continue to enforce.**

The Prescribed Terms are these

A Amount of credit
A term stating the amount of credit

B Repayments
A term stating how the debtor is to discharge his obligations under the agreement to make the repayments, which may be expressed by reference to a combination of any of the following-
(a) Number of repayments;
(b) Amount of repayments;
(c) Frequency and timing of repayments;
(d) Dates of repayments;
(e) The manner in which any of the above may be determined; or in any other way, and any power of the creditor to vary what is payable.

C Rate of interest
A term stating the rate of interest to be applied to the credit issued under the agreement
D Credit limit
This may be a term or the manner in which it will be determined or that there is no credit limit.

---

Which of these applies to you depends on the type of agreement you have?

For a Running Account (credit card) agreement

BC and D Apply

For a Restricted Use Debtor Creditor Supplier

• Where the dealer is the supplier and the creditor is the one providing the finance.
• The money can only be used for the purpose it is given.
• There is no interest on the purchase (the cash price is the same as the total price)
• And there is no advance payment

A is applicable

For a fixed Sum Credit Agreement
A conventional credit agreement with none of the above restrictions

A and B apply

For a Hire Agreement

B is Applicable

This paper only covers section 127(3) of the Act agreements can also be unenforceable by contravention of sections 1 and4 this will be the subject of the next paper.
Please note that these Prescribed terms where not changed in any way by the 2004/1482 Ammendments although the form in which they appear on the agreement was. Subsection127(3) was repealed on the 6th of April 2007 so that unenforceability due to 127(3) will only apply to agreemens executed before that date.

Why don't you just pay, then people won't ask for their money back.

immoral_angeluk

They're not doing anything you can't do yourself for free. The £995 is better spent on paying off your debts than paying some cowboy company to send off a couple of letters for you.

fermi

Avoid these people like the plague.

The Office of Fair Trading and the Ministry of Justice have issued a WARNING about such firms, their fees and their claims.

Claims regulator and OFT warn consumers about risks of being misled over the enforceability of consumer credit agreements

Claims regulator and OFT issue consumer alert.

Claims regulator and OFT warn consumers about risks of being misled over the enforceability of consumer credit agreements

MoJ/OFT Consumer alert 21 August 2008

The Claims Management Regulator at the Ministry of Justice and the Office or Fair Trading (OFT) are warning consumers to think carefully before responding to businesses claiming that they can arrange for outstanding balances under loan, credit card and other consumer credit agreements to be written off and secure compensation.

Consumers are advised to seek independent advice before using the services of businesses that offer to find ways to render consumer credit agreements unenforceable. Businesses can only provide claims services if they are authorised and regulated by the MOJ under the Compensation Act 2006. Such businesses may also need to hold an appropriate OFT consumer credit licence.

Consumers may be asked to pay large up-front fees, often up to £500, for the businesses to review their credit agreements. Some businesses are claiming that many of these agreements are completely unenforceable, that consumers can have debts cancelled and claim back thousands of pounds. Consumers should think very carefully before committing themselves to making claims and handing over hundreds of pounds in advance to do so, even where refunds may be promised if the claim is unsuccessful.

Consumers with specific debt problems may wish to contact their local Citizens Advice Bureau who will often be able to provide advice free of charge. Free, impartial advice can also be obtained from the contacts at the end of this alert.

NOTES Claims management regulation

1. The Ministry for Justice (MoJ) is the Claims Management Regulator in England and Wales. Ministry of Justice checks a wide range of information about businesses before authorising them, monitors the services the business provides, will take action against businesses that breach the rules, which could include suspension or cancellation of authorisation.

2. Authorised businesses have to follow strict conduct rules. They must not ‘cold call’ in person, or engage in any form of high pressure selling, give written information on how to pursue a claim and the costs involved before a contract is agreed, allow a ‘cooling off’ period of at least 14 days after signing a contract in case the consumer changes their mind, operate a customer complaints scheme that meets relevant criteria. All the rules governing the conduct and behaviour of authorised businesses can be found on the Claims Management Regulation website. Enquiries about the regulation of claims businesses should be made to:

There is a longer discussion thread on similar companies. I'll merge this into it later.;)

krackoa

I am in a very sticky financial situation at the moment and i am pursing an option that has been presented to me by a mortgage broker.

It consists of me paying an initial £495 then £125 for each other claim i make.

I will be making a claim against 2 credit cards totaling £12100 and the an additional claim against a loan of £18000. That will cost me £745, plus £11 for each claim for them to obtain information about each account.

The guy i have spoken to said it is all above board and very legal, and is looking to wipe out the credit card totals and get me in the region of £5000 compensation claim from the loan on the grounds of them providing me with a faulty contract.

He seems very confident that there should be no problem doing this and it would take in the region of 6-9 months.

I am now running out of options and this is looking very good at the moment and i will be looking to take up this offer if you can see nothing wrong with it.

GeorgeUK

Are you sure this guy is a mortgage broker?
It sounds like he is either going to reclaim charges - which you can do yourself, or look to see if the debt is enforcable by requesting a copy of the customer credit agreement (cost £1).

Can you tell us anything else about what he said?

stapeley

There are many people on here that have done this for themselves , can you afford to payout this money up front ? I can assure you it takes alot longer than afew months to sort out .

milliemonster

I have to agree with GeorgeUK here, it sounds very much like looking to prove there is an unenforceable CCA on your debts, something which you can do for FREE, we (and you most importantly) need more information from this 'mortgage broker' before you offer any money.

The 2 CC's and loan you mention, can you tell us when you took them out? and do you have a copy of your signed agreement?