Credit limit increase - irresponsible lending

Hi
New to the forum but wanted to see if anyone had heard of similar.... I've just had a call from 123-refund.co.uk informing me they can write off my credit card debt from any cards that have had their credit limit increased without my authority. Apparently in these instances a credit check would not have been carried out on me so therefore how can the lender know if increasing my limit would be affordable? As a result the debt is un-enforceable and can therefore be written off completely. In addition they're also able to claim up to 95 % of back interest too. All sounds good until they've asked for their fee of £900 per card/claim upfront. As they're simply claiming for the debt to be written off they're unable to deduct their fee at source. I've seen several news articles online about it but ever the sceptic...has anyone else out there been successful with this?

thx

Comments

  • MH1927
    MH1927 Posts: 95
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    Sounds like an Advance fee fraud scam to me.
  • z1a
    z1a Posts: 2,522
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    Pretty sure you get the option to decline any increase.
  • Ben8282
    Ben8282 Posts: 4,821
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    edited 28 February 2018 at 5:16AM
    How much are the balances on your cards if you are willing to pay £900 per-card?
    Assuming for a moment that this is genuine, you pay the fee and get what has been promised, you do realise that the lenders will close the accounts and trash your credit files to make sure you don't get any more cards for a good while.
    Personally I can't see this as a valid reason to wipe off a debt. Can you PROVE that the limits caused you to get into unaffordable debt? You have been making the payments havn't you? The accounts are not defaulted and presumably you have the means to make an upfront payment of £900 per-card if you are considering doing it.
  • msallen
    msallen Posts: 1,494
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    This has scam written all over it.
  • Good to see the old credit limit claims ploy back again.

    It was very popular a few years back, then everyone moved onto PPI claims, which was a more legal way of separating the gullible from their money.
  • Edi81
    Edi81 Posts: 1,427
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    Ultimately it!!!8217;s a limit not a target and usually included in the terms and conditions of the card that it can be increased or changed by the lender.

    These claims people can jog on in my opinion.
  • pogofish
    pogofish Posts: 10,852
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    How is this a stoozing matter?
  • So basically, you got a cold call stating 'Give us £900 and we will arrange for your credit card debts to be written off?'

    If you take up their offer the most likely outcome would be that your debts increase by £900
  • nic_c
    nic_c Posts: 2,928
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    Good to see the old credit limit claims ploy back again.

    It was very popular a few years back, then everyone moved onto PPI claims, which was a more legal way of separating the gullible from their money.
    Well PPI is coming to an end so these companies need to move on to the next cash cow:eek:
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