Section 77 reclaims

Millie_Mo

Hi Guys,
Last night I had a call from someone saying that I would be able to have my credit cards paid off, as under section 77 (I think) I would be able to make a claim for the credit card people increasing my credit limits without me re-signing a new credit agreement - is this correct??? Has anyone heard of this? If so, is it something I can do myself?
Thanks Guys

~Brock~

You should hang on until the next leap year because under section 77A (paragraph 367) it says that if you make your lender aware of this on February 29th they have to pay you an extra zillion pounds. Oh and you can claim double if you own a unicorn.

Sounds far fetched? Well its no more so than the call you received last night.

roonaldo

its a load of nonsense, besides it'll be in the terms and conditions that they can increase limit.

Millie_Mo

She was very convincing, as I had two screaming kids around me at the time, I asked her if she could email me the details, but nothing yet. To be honest if it was something that people were able to do, I'm sure that Martin would have been on top of this by now.

roonaldo

The people that do this cold calling are sales people, trained to tell you what you want to hear.

Annisele

They can't tell you the details, because they don't want the credit card companies to find out their super secret interpretation of the law. All they'll want from you is £500 to cover their costs while they investigate, and then you'll never hear from them again.