Tucan Claims

margpwr

Hi
I recently had a phone call from a company called Tucan Claims.
They said that if I forwarded them £249.99 they could begin contacting all the companies that I have ever had credit cards with. They said that any agreements that were made with these companies before March 2007 could contain many conditions that could render the contract unenforcable when offering credit and the debt written off (for example, if I had a credit card with e.g. MBNA with a credit limit of £2k at that date and MBNA kept upping the credit limit without my permission and I didn't sign any paperwork to agree to this, then I could reclaim back compensation and or any balances that I built up above this £2k limit).

Does anyone know anymore about this? Tucan said the £249.99 was refundable if my case was not successful and they would then take 10% of any amount I successfully received from the credit card company. Sounds very tempting as I have built up high balances on several cards over the agreed initial credit limit, but I'm unsure about progressing further and if I have interpreted this correctly. Obviously £249.99 is a lot of money to fork out and I'm worried I may never see it again !
Any help/advice would be gratefully appreciated.

Tixy

You wouldn't see your money again.

Even if your agreements were unenforceable the debts would not be written off - just unenforceable. You wouldn't be able to claim back any compensation either, no cases of this happening.

If you are really unable to pay your debts and have defaulted on them you could consider looking at unenforcability yourself (for the sake of £1 per debt and a bit of time reading on this forum). But be warned that going down this route will trash your credit file and you will not be able to obtain any decent new credit for 6years.

If you can afford to repay the debts that you have run up (no one forced you to spend over your original limit) then that is certainly the option to take.

margpwr

Hi
Thanks for your reply. It's very helpful.
I have actually cleared most of my balances on my credit cards now.
When I explained this to Tucan they said it didn't matter and that even if I now
had a zero balance on the card, they could claim back the amount I spent over
the initial agreed (and signed for) credit limit. I am very sceptical though, so I
think I'll just put this down to experience and ignore them. As you say, I did spend
the amount on the cards, no-one forced me and I do always pay my debts back.
Thanks again.
p.s I've cut all the cards up too !! (hate the things !)