CCA Write Off of Credit Card Balances

snooker1471

Has anybody out there personal experience of the many firms offering to have credit card debt written off due to non compliance with the conditions within the Consumer Credit Act. Most firms advertise as regulated by the Ministry of Justice and charge an 'up front' fee which is refundable if unsuccessful. Sounds too good to be true!! Your good and bad experiences are welcomed.

cifpower

search for "unforceable" and you get a host of threads like http://forums.moneysavingexpert.com/showthread.html?t=597685&highlight=unenforceable

_Andy_

snooker1471 wrote: »

Has anybody out there personal experience of the many firms offering to have credit card debt written off due to non compliance with the conditions within the Consumer Credit Act. Most firms advertise as regulated by the Ministry of Justice and charge an 'up front' fee which is refundable if unsuccessful. Sounds too good to be true!! Your good and bad experiences are welcomed.

Have you attempted to use the search facility?

snooker1471

No I have not tried any firm yet; thought it would be a good idea to follow a recommendation from somebody who has had a positive experience.

bingy_burge

It can be done in some cases but its will limit your ability to get credit in the future.

So you may get a debt written off but don't be suprised if a couple of years down the line you want a credit card or morgage and you get a no.

If lenders lend you money and you have goods or services I think you are morally obligied to pay it back otherwise its a type of theft in my mind, albiet because of techinicallity its perfectly legal but knackers your credit file.

At the end of the day your friends your loved ones who pay they credit cards etc get rate rises to help cover other peoples bad debts.

NickX

snooker1471 wrote: »

No I have not tried any firm yet; thought it would be a good idea to follow a recommendation from somebody who has had a positive experience.

Recommendations on here are NOT to use such firms. They are sharks and are out to make money from you.

All the letter templates that you need to do this yourself are on this site if you use the search facilities and some posters will provide helpful advice as you go.

fermi

NickX wrote: »

Recommendations on here are NOT to use such firms. They are sharks and are out to make money from you.

Could not agree more.

If you are having problems with your debts, then post on the Debt-Free Wannabe board and read:

Link: Problem Debts: what to do and where to get help

oscar52

_Andy_ wrote: »

Have you attempted to use the search facility?

Have you attempted to offer constructive advice?

I am assuming when you first found MSE, you were an instant expert prior to even placing your first post?

_Andy_

It was meant as constructive advice - there are numerous threads where the subject has been discussed which would have been a useful resource for the OP (especially template letters and the like).