cancelcredit.net

GillianY1

Hi,

I have been a long term reader of the forums on MSE but have never felt the need to post before.
Although I have debt I still feel it is managable debt (although I would love to pay it off and have that spare cash in my pocket every month!) and don't struggle to make my repayments every month.
Basically I have about £15k debt spread over a car loan and 3 credit cards.

I received a phone call today from a company claiming they could possibly write off any debt I might have by checking the credit agreements comply with the Consumer Credit Act 1974. The representative I spoke to was very well mannered and not pushy wanting any personal details. All I had to give her was my outstanding debt amounts, what bank the credit was with and when and how I took the agreement out.
About an hour later someone from their legal department called me back saying they could challenge my car loan and 2 of my credit cards and write off the outstanding balances.

I am not stupid and know that these things usually are too good to be true but the callers were very convincing and made me unsure whether to believe this was possible or not. They do charge a fee which is payable upfront and also ask for 20% of any unfair fees or charges paid back to me by my creditors. They said my agreements were not enforcable as I had taken them out online and not had to sign anything in person. My credit card had also increased my interest amount and credit limit without my permission.

Just looking for any feedback that anyone may have about this company. I told her I needed to think about it and research it further before I would agree to anything and asked them to call back on Friday.

Any help/opinions would be much appreciated:)

Simon_Pugsley

I may be wrong, and I am sure somebody will be along pretty soon to correct me, but I think these things are a bit of false hope, so please dont get your hopes up.

Simon_Pugsley

Also, sorry to sound a little out of place, but you have applied, borrowed and spent their money. do you not feel that you should pay it back?.

McKneff

Dont touch these companies with a bare pole.

What they say is 'we will try' they take your money, tell you 'we tried, but we failed, the contract says 'we will try' we did' so you have to pay us. full stop.

Job done, they have your money, you still have the debt.

Simon_Pugsley

McKneff wrote: »

Dont touch these companies with a bare pole.

What they say is 'we will try' they take your money, tell you 'we tried, but we failed, the contract says 'we will try' we did' so you have to pay us. full stop.

Job done, they have your money, you still have the debt.

Sounds about right..

GillianY1

As stated previously I am not daft and know these things usually are too good to be true. Yes I do agree that I should have to pay back any money I have borrowed but would be nice if someone else could do it for me :rotfl:

Just wanted opinions from other people who have dealt with this company.

Don't worry, I wasn't getting my hops up as I reckoned it was all a bit of a con (especially since you pay them a fee up front!)

Tixy

Another thread on the same company - https://forums.moneysavingexpert.com/discussion/2407489

If you did want to look at whether your debts could be unenforceable (and some of them could be ) then you would be better to do some research, make sure you understand the risks (such as a wrecked credit file for 6years) and then if you still wanted to go ahead to actually do claims yourself with help from people on this thread - https://forums.moneysavingexpert.com/discussion/2532927, which would cost you a few quid per debt in postage etc.

GillianY1

Thanks for that Tixy. I will see if they call back on Friday then tell them I am not interested. Guess I always knew it was too good to be true:beer:

Hannah_10

There's a bloke called Never-In-Doubt on All-About-Debt who will tell you if your credit agreements are UE for free. Bless him he's even written it all out with flow charts and stuff so you can go through it yourself. Have a link... http://forums.all-about-debt.co.uk/index.php

DGJsaver

GillianY1 wrote: »

Hi,

I have been a long term reader of the forums on MSE but have never felt the need to post before

Really ?

Then you didnt read very hard did you...