debts written off if balance raised without permission?

kezzygirl

Hello, I received a call today from a company asking if I have any debts where the company has raised the credit limit without permission as these debts could be written off as it is unlawful.

I had to giggle to myself because I immediately thought 'scam' told them no and put the phone down.

However,does anyone know if this is true?when a company raises the credit limit are they breaking original terms of the agreement?

poppy10_2

kezzygirl wrote: »

However,does anyone know if this is true?when a company raises the credit limit are they breaking original terms of the agreement?

No .

MonkeyMad

Seems OK for some though:

'My credit limit was raised without me asking so I then proceeded to spend all the increase. As I didn't ask for it there is no way I should have to pay it back'

How does that sound?

browneyedbazzi

I'm pretty sure all my agreements have something in the Ts & Cs about them being able to change the credit limit (higher or lower) so I'd be pretty surprised if there was a way to write of a debt just because of a change in the limit.

Sounds like a scam to me!

kezzygirl

MonkeyMad wrote: »

Seems OK for some though:

'My credit limit was raised without me asking so I then proceeded to spend all the increase. As I didn't ask for it there is no way I should have to pay it back'

How does that sound?

yeah,thanks.just asking!

olivia84

yea i know kezzygirl; i love MSE but sometimes people are far too quick to jump down your throat, yea ok it's all our own fault we are in debt, we are not asking to get off with it scott free, and no one held a gun to my head to spend the thousands of £s i was offered on a plate when a little bit of research would have seen that i was over committed, but i wish financial institutions would carry some of the blame for their obvious irresponsibility. don't get me wrong, i am slowly but surely paying my debt off, i wouldn't want to 'get off with it' but the banks are also to blame - this is how the credit crunch started after all, amercian banks dishing out toxic loans on houses people couldn't then afford. i've quoted this paragraph of martin's mental health guide before:

This is the crux: how do we help those who are unable to be responsible for themselves? It is not always easy to be responsible for yourself – and the easy credit years created a potential disaster scenario.

it just shows that creditors didn't have a clue who they were dishing out cash to and some people don't think straight, the banks took advantage of this.

kezzygirl

Hi Olivia, yeah I completely agree.People seem to jump down each others throats on here.Where in my post did i say 'i spent all this money,now wont pay it because u upped my limit without permission?'-which is what the idiot above is saying.
I pay my debts and will continue to pay every single penny until they have gone!

Self righteous idiots.

rdchick

Hi Kezzy, try not to take it to heart, I guess we do get a lot of people wanting to side step out of what they owe on here and sadly yah people are quick to judge. Hope you can get to some arrangement with the debt people and work out a plan to bring the balance down. Good luck xxx

kezzygirl

rdchick wrote: »

Hi Kezzy, try not to take it to heart, I guess we do get a lot of people wanting to side step out of what they owe on here and sadly yah people are quick to judge. Hope you can get to some arrangement with the debt people and work out a plan to bring the balance down. Good luck xxx

Ah,all of our debts are under control and being paid etc.no bailiffs etc.
my op was about a phone call i received from one of these companys who claim to write off debt due to a little known law lol which is if thwe creditor raises the balance,it is breaking the original terms of the agreement.

fools.what do they take me for?lol

MonkeyMad

Kezzygirl, obviously reading is not your strong point since at which point did I refer to you personally attempting to sidestep your debts by this means? I was more referring to your pondering the question as to whether it was true.

I could be tempted to get into a discussion about how easy credit from banks has !!!!!! all to do with how easy it is to be responsible for our own levels of debt, but that might be an inconvenient distraction from blaming the banks mightn't it?