Strange Phone Call

mfp

I keep getting automated phonecalls saying "...if I took out any credit cards before 2007, they gaurentee to get the balances refunded and compensation paid". Now, i'm of the opinion, that they are my debts, so I should pay them off. However, I am very interested in what the scam is.... can anyone shed any light on this?

Cheers,

MFP.

izools

They are trying to take advantage of recent legislation - however they are dishonest in their approach.

This will almost certainly ruin your credit file good and proper, and due to a recent court case, in which a creditor produced a credit agreement which wasn't enforceable under the consumer credit act, the judge found that it was still enforceable under contract law.

As this is a breakthrough ruling it negates the ability for a debtor to have a debt deemed unenforceable, because even if the credit agreement is all wrong, it is still a contract - a point over looked in previous cases because all the attention was put on the consumer credit act and not standard contract law.

Ignore the phone call, you'll only end up aggrivating your creditors, ruining your credit file, and costing yourself more.