Credit Card no need to repay?

madwoman050

Hi, I am looking for a bit of advice. I have been contacted by a company (consortium reclaim) and they tell me if I took out my credit card years ago there maybe a mistake in the agreement and as I have not signed a new agreement I don't need to pay the balance I owe on it back. I was also told this would not affect my credit rating. Was worried when they told me it would cost £200 - £300 for me to pay them initially but if I did not win they would legally have to pay me that back. Just feel a bit wary about this as it does not seen right and wondered if you know about this? It is nothing to do with PPI its just to do with the credit card agreement.

katejo

madwoman050 wrote: »

Hi, I am looking for a bit of advice. I have been contacted by a company (consortium reclaim) and they tell me if I took out my credit card years ago there maybe a mistake in the agreement and as I have not signed a new agreement I don't need to pay the balance I owe on it back. I was also told this would not affect my credit rating. Was worried when they told me it would cost £200 - £300 for me to pay them initially but if I did not win they would legally have to pay me that back. Just feel a bit wary about this as it does not seen right and wondered if you know about this? It is nothing to do with PPI its just to do with the credit card agreement.

That sounds like a scam to me. Contact your local Consumer Direct and see if they have heard of it. I think they would run off with your money. Have you tried googling the name of the company to see if there are any comments about them?

McKneff

No, No, No, dont fall for it, no legitimate company would cold call you.

They could not have that information on you, no way.

They say 'maybe', they will take your money, you sign up to them to say 'please try' they will say they tried, they have fullfilled the contract, they will be running to the hills with your upfront fee.

Fruit_and_Nut_Case

Avoid!

https://forums.moneysavingexpert.com/discussion/3206136

[Deleted User]

such loopholes were closed a few years back now

madwoman050

Thanks everyone for the replies, thought it sounded too good to be true :-P When information pack comes through it will be straight in the bin I will not be signing anything!! They did cold call me and mentioned the claims regulation website as stated in the link Fruit and Nut case gave. Thanks so much for potentially saving me make a mistake!!

madwoman050

Thanks for your help! x