My Debt

Chortle_2

amosworks wrote:

I suppose it's up to the OP how much debt there is the lengths they are prepared to go to clear it. Most people would of thought suing their banks was like some kind of fraud several months ago.

Some people get out of debt of the statute barred technicality when it's 6 years old, is this not fraud too then? When it comes to credit card companies, my heart doesn't exactly bleed for them.

But are they increasing their debt specifically thinking 'I'll spend as much as I can on things I want, but its ok, cos then I'll ignore it for 6 years, and get out of it due on a technicality'?? No, they run the debt up, presumably with every intention of paying it back (albeit without properly thinking about how they'll pay it back, granted) and then find they can't. For one reason or another, it gets 'forgotten' about by the creditor, and/or the debtor for 6 years, et voila, a loophole, meaning they can get out of it. That is fine in my book. It is the creditors fault for letting it get that far IMHO.

As for the bank charges thing, no, I would never have thought reclaiming that was fraud - the banks letting on that them stealing my money was OK as it was in their T&C's always struck me as dodgy, and I always thought that it should be illegal. Turns out I was right.

None of what you say about these 2 things compares to spending on a credit card, knowing that you're about to claim it is invalid debt as when the agreement was originally signed, you were under age. Totally different kettles of fish.

amosworks

Yeah I see your points Chortle. Personally I'd still do it though As I said, I really don't feel the CC Co's pain very deeply.