Call from company claiming loans can be cancelled

Blankie · 30 November 2009 at 8:23PM

I'm just curious about this - I'm not going to use it.

We had a call from a company that say they know of a loop-hole that allows us to challenge the terms of any loan before 2007.

I suspect this is something that is reasonably well known to MSE'ers.

They want to send someone round. They charge £295 or £495 depending on the size of the loan.

Can anyone settle my curiosity and let me know if this is a con, a genuine loophole but something I can do myself if necessary or something else entirely?

Thanks in advance!

costapkt · 30 November 2009 at 8:38PM

If you want to do this you can do it yourself for free. All you need is your CCA (Customer Credit Agreement) You then have to check this to see if it is enforcable. Go to the CCA thread on this site for more info.
But do not pay to have it done.

_Andy_ · 30 November 2009 at 9:16PM

OP - search the forum for '2007'

Blankie · 30 November 2009 at 9:25PM

Thanks for the replies. It's the second option then, true but something I could do myself if necessary.

As I said, I don't intend to do this...but you never know when it might come in handy!

jonesMUFCforever · 30 November 2009 at 9:47PM

I can tell you Wednesday's winning lottery numbers!
All you have to do is pay me £295 and I will let on the secret.
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.All I will say on here is that they will be bwtween 1 and 49.
If you want to throw your cash away throw it my way.

never-in-doubt · 10 December 2009 at 5:54PM

Blankie wrote: »

Can anyone settle my curiosity and let me know if this is a con, a genuine loophole but something I can do myself if necessary or something else entirely?

Thanks in advance!

Yep, do it yourself here: Unenforceability & Template Letters II