Cancelling Credit Card Balances

PeterJF_2

Whatever happened to the idea that we could get our credit card balances cancelled. This was the thing it seemed everyone and his dog was pushing about two years ago. I registered with Cartel Client Review for about six accounts and then they got closed down.

There were other agencies at the time also and for some reason these have gone quiet also.

I suppose this is an old and out of date discussion for most seasoned people on here but I have checked back on the recent postings and I find nothing about this.

Can anyone summarise the present situation on this please?

I have a very high balance and was hoping for something to clear it off. Looks like my hopes could have been dashed!

Peter

Xbigman

It never was possible to write off debts the way you want to, thats why those companies disappeared. The way to clear a debt is to pay it back. You should start doing so.



X

ILW

A lot of stupid greedy people got caught in this one. Turns out it was cobblers. Guess people will have to get used to the idea that if you borrow money, then you should pay it back.

themull1

So you ran up loads of debt, got it cleared, then expected someone to do it again? why not just pay it back yourself?

opinions4u

If you don't pay it means other customers pick up the bill through higher charges. Sickening.

lisyloo

To be fair, we don't know whether the OP is unwilling or unable to pay off the bill.
There are many reasons some of which catch us out from time to time - like sickness or a deceitful partner.

Whilst I agree it's sickening that others have to pick up the bill, we do not know the reasons for this and the lenders also in some cases have to also accept some responsibility.
They could if they wanted to insist that nobody borrows without insurance for death, sickness, accident and redundancy.
They don't do that, they take risks.
Personally I believe very strongly in financial planning for these events but you still cannot plan for everything - for example I don't think you can get "deceitful partner that you trusted" insurance or divorce insurance.

Therefore I would suggest that we withold judgement.

If it is the case that the OP simply doesn't want to pay back their debt, then I'll throw the first stone, but we don't know that and these threads sometimes do allow up to jump on our hobby horses.

dunstonh

Whatever happened to the idea that we could get our credit card balances cancelled.

It was a scam to catch greedy people. Almost a classic scam as it wouldnt work on an honest person.