Help! Debt Termination from credit cards - have you been affected?

smashedcrab

This is about credit card debt termination. Recently I was inundated with phone calls from various companies all stating that I could claim all the money back on my credit card as I had been mis-sold it (mis-selling could be the credit card company approaching me to take out a card, or it could be the credit limit being increased without my permission etc). I eventually gave in and agreed to go with one of these companies; I looked them up on the web and they looked professional, had a london address and phone no. I had to pay about £900 which was their refundable fee should the termination not go ahead.

I heard nothing for a few months, tried phoning but the phone was cut off, so now alarm bells were ringing.

This morning I got a call from another company stating that they were taking over from Debt Termination Inc and that my claim had been successful. They were called TPP legal. However they now wanted £450 to cover the court costs? Does anyone have any experience of this?

woody01

Do you REALLY need to ask?

Eydon

Tell them they can take the £450 out of any money that they successfully get back for you - see what they say Surely if they have already won they will have been awarded costs wouldn't they?

Seriously though, why did you shell out £900 for something that you could do yourself for the price of a few stamps. There are plenty of threads on here that tell you how to go about it (this one from never-in-doubt has all the template letters you need).

To be honest, I'll be surprised if you see your £900 again.

And for the record, I'm not condoning this course of action, but neither do I judge people who want to take this route.

smashedcrab

Thanks Eydon, thats really helpful. I don't know what I was thinking; I'd just had a baby when all this started and was suffering from 'baby fuzz' where you become forgetful, make stupid decisions etc. I'm waiting for their phone call, I'll ask to see all correspondence etc. That should be interesting!

Fonz_2

In what way were you mis-sold your credit card specifically?

smashedcrab

Firstly they said that because the credit card company approached me by post and offered me a card, that was a mis-sell. Then they said that every time the credit limit was increased I had to give permission first, and sign a contract to that effect. Each time the credit limit changed, that was classed as a new contract. As I hadn't signed for a limit increase, that was a breach of contract. Also they said that if the interest rate wasn't shown on the statement, that was a breach of contract.

BenL

So you paid £900, now they want another £450. They are targetting you as you will think it is better to pay another £450 than "lose" the £900 you paid already.

If you pay £450 the chances are pretty high they (or a related firm) will ask again for more money which you will also be likely to pay so you don't "lose" the £1350 you have already spent.

woody01

smashedcrab wrote: »

Firstly they said that because the credit card company approached me by post and offered me a card, that was a mis-sell. Then they said that every time the credit limit was increased I had to give permission first, and sign a contract to that effect. Each time the credit limit changed, that was classed as a new contract. As I hadn't signed for a limit increase, that was a breach of contract. Also they said that if the interest rate wasn't shown on the statement, that was a breach of contract.

Signing for a limit increase?
I have had credit cards for 25+ years and not once have i had to sign for a limit increase. Are you seriously suggesting they have all 'mis-sold' to me?
Please see what is happening.
They are taking you for a mug (and winning by the looks of it).

Budner

sounds like you're £900.00 out of pocket, shoul really just have paid back what you spent and not tried to worm your way out of it. That £900.00 would've beenbetter used paying back the debt

smashedcrab

Yeah I know, but the debt was for over £10K and I was comfortably managaing the repayments until I was made redundant. Had an insurance policy which wouldn't pay out because I was made 'voluntarily redundant', eventhough there was no other position in the company I could've gone to because they closed the entire department down. Didn't realise at the time that this made a difference until it was too late.

benoit

So did you actually pay the original £900? Please tell me you didn't? :eek: