Anyone know anything about Delete Claims Management???

ILW

henrysprings wrote: »

Well they have said that if there is no claim then they will give me a full refund

Many of these companies are going into administration before giving refunds. If they are so confident, why do they want your £500 up front?

dunstonh

henrysprings wrote: »

Well they have said that if there is no claim then they will give me a full refund

Correct. That assumes they are still solvent when your case fails.

Just look at all the claims companies now going into administration with no assets to repay the £495. This was predicted years ago on this site and its happening now.

We know for a fact that the success rates for claims companies with loans and credit cards is very small. In fact, one claims company admitted last year to the press that it didnt have a single success case. Their main source of income is paying people £495 up front. Out of that they pay the staff and directors. So, when the inevitable majority of cases fail and it comes to repay the money, there is nothing in the pot to pay you back. Company fails, directors have earned hundreds of thousands of pounds for a couple of years and all the mugs that signed up lose their money.

There is a general rule of thumb when it comes to claims companies. If they want money up front its because there is little chance of success.

TylerD

dunstonh wrote: »

Seeing as most consumers have not won and all the recent test cases found in favour of the lender, Its probable they will be lucky to have any cases successful.

Prior to the recent test cases, there were some cases where lenders did take the route of least resistance and cost and caved in. However, since the test cases cleared up a lot of issues and made most of the reasons for claiming invalid, the lenders have taken a much stronger stance.

In fact, the reason that so many claims companies are now failing and going into administration is because they were pinning their hopes on the test cases ruling in their favour and when they didn't, they lost their best and only real chance of earning money and cant afford to refund the initial payments.



The test cases cleared up some issues and did allow individuals to claim but the results were overwhelmingly supportive of the lenders and not one one the test cases resulted in any write off.

I dont think this is right. A number fo the cases folded during the week and the debts were then written off. The only disputes were in regards to what unenfoceable meant rather than whether or not the debt were unenforceable.

TylerD

dunstonh wrote: »

Correct. That assumes they are still solvent when your case fails.

Just look at all the claims companies now going into administration with no assets to repay the £495. This was predicted years ago on this site and its happening now.

We know for a fact that the success rates for claims companies with loans and credit cards is very small. In fact, one claims company admitted last year to the press that it didnt have a single success case. Their main source of income is paying people £495 up front. Out of that they pay the staff and directors. So, when the inevitable majority of cases fail and it comes to repay the money, there is nothing in the pot to pay you back. Company fails, directors have earned hundreds of thousands of pounds for a couple of years and all the mugs that signed up lose their money.

There is a general rule of thumb when it comes to claims companies. If they want money up front its because there is little chance of success.

this sounds more like blind synicism rather than advise. Its like saying all IFAs are rip offs cos they sold self cert mortgages?

dunstonh

I dont think this is right. A number fo the cases folded during the week and the debts were then written off. The only disputes were in regards to what unenfoceable meant rather than whether or not the debt were unenforceable.

No You are wrong. The 6 test cases all ruled in favour of the lenders. However, MBNA bottled out on two cases just hours before the trial began. Bet they wish they hadn't following the outcome.

Since then, the OFT has got involved and issued clarification which further hurts anyone trying to look for loopholes.

Its like saying all IFAs are rip offs cos they sold self cert mortgages?

IFAs dont sell mortgages. IFAs are investment advisers. Mortgage advisers sell mortgages.

this sounds more like blind synicism rather than advise.

The fact its happening proves it was right.

BeenieCat

Why not just do it yourself? There are template letters on this website so why you'd want to pay £495 rather than a few stamps is beyond me. Why not give your money to never-in-doubt for the work he's put into the templates lol!!

Tixy

OP if you really are interested and considering giving this firm your money you are crazy.

henrysprings wrote: »

I have been speaking to a company called Delete UK Claims Management and they say that they can make my credit card debt unenforceable. Anyone know if this is right????

No one can make your credit card agreement unenforcable. The agreement you have could be unenforcable already. You can check this for yourself it will cost you £1 per agreement, a little time and a few stamps. A much better deal than being ripped off by Delete or any other company.

If you want to check your agreements yourself there is plenty of guidance on the forum, as well explaining the full implications if you do go down that route (ie the defaults being registered, making it tough to get credit for the next 6years - if your credit file is already wrecked then fine - if not proceed with caution).

My feeling is that at least some of the people posting on this thread are not totally impartial.

henrysprings

I guess I could check myself but I dont feel totaly confident that I would get it right. I think id prefer to pay someone to do it for me, Might be me being lazy i suppose

speaker1798

BeenieCat wrote: »

Why not just do it yourself? There are template letters on this website so why you'd want to pay £495 rather than a few stamps is beyond me. Why not give your money to never-in-doubt for the work he's put into the templates lol!!

Thanks for the advice, where can i get these.

BeenieCat

speaker1798 wrote: »

Thanks for the advice, where can i get these.

http://forums.moneysavingexpert.com/showthread.html?t=2305463