We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Credit card compensation

I was approached by a company offering compensation/ wiping out all my amounts owed to my 3 credit card companies and store cards taken out before 2007, can any one help in this matter, where can i go online to to get the compensation myself
Regards

Comments

  • stephane_2
    stephane_2 Posts: 3,076 Forumite
    It's a scam....you cannot
  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
    I was approached by a company offering compensation/ wiping out all my amounts owed to my 3 credit card companies and store cards taken out before 2007, can any one help in this matter, where can i go online to to get the compensation myself
    Regards

    Does this mean you've spent money on credit & store cards and you want compensation for this?
    Come on honestly think about it pal!!
    Pay back what you owe & take no notice of these companies.
  • InsideInsurance
    InsideInsurance Posts: 22,460 Forumite
    10,000 Posts Combo Breaker
    They weren't offering compensation, they were offering to test if your credit agreement was enforceable or not by using a number of technicalities.

    If its not enforceable they simply advise you to either negotiate a very low settlement figure or tell you to sit back, get a load of defaults against your name but know that you will win in court and so never get a CCJ nor payback the money. So you trade your credit rating for not having to repay.

    If the debts are already repaid then there is nothing you can do.

    Obviously this is exceptionally amoral, you agreed to a service, you enjoyed the service and its only fair you pay for the service even if the exact wording on the credit agreement forgot to put a comma in the right place.
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    They will take your money up front, try, fail, laugh all the way to the bank with your up front money.

    Thats what is called a scam
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.5K Banking & Borrowing
  • 253.7K Reduce Debt & Boost Income
  • 454.4K Spending & Discounts
  • 245.5K Work, Benefits & Business
  • 601.4K Mortgages, Homes & Bills
  • 177.6K Life & Family
  • 259.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.