Invalid credit card agreements

Rose42

I have received a phonecall stating that my Capitial One credit card agreement is invalid as it is pre 2007. The company cancelyourloan.com advised me that my balance can be cleared has anyone any advice

kathleen123_2

Why was the card agreement invalid and who phoned you - was it Capital One or was it a company that said they could clear all your outstanding cards. I have had this phone call but please be carefull. They will ask you for a fee and then you will find that either nothing is done or they will turn round and say that you have lost your case but they can offer you a loan to consolidate your debts. I pulled out at the last moment and was lucky I hadn't paid them a penny - but a friend of mine was caught by them.

dunstonh

I have received a phonecall stating that my Capitial One credit card agreement is invalid as it is pre 2007. The company cancelyourloan.com advised me that my balance can be cleared has anyone any advice

Have they read your credit agreement? What reasons is it invalid? Or is it one of those scam like phone calls that just told you it was invalid to try and get you to pay some money?

Also, even if it is invalid and the court agrees (and very few cases do - single digit chance success rate is likely), it doesnt get written off. It remains on your credit file and as you stop paying into it, it becomes a debt in arrears. Therefore preventing you from getting credit again in future.

Since the December court cases cleared up many of the points that claims companies thought they could get credit written off, the unenforceable loans claims business has died. However, some companies are still trying it on.

_Andy_

Rose42 wrote: »

I have received a phonecall stating that my Capitial One credit card agreement is invalid as it is pre 2007. The company cancelyourloan.com advised me that my balance can be cleared has anyone any advice

Yes, pay your debt back. And use the 'search' facility to find the other million threads on the same subject.