Unenforceable loan agreements

bobpitbull

So... does anyone have any advice on the best companies to do this?

I've had quotes off 2 so far...

1. would charge me £500 to do 3 credit cards - £200 upfront, £300 more if the claims are successful... and no commission;

2. would charge me £600 for 3 cards PLUS 30% of any successful claim...

1., on paper, seems better... I'm just worried that they'll take everyone's initial payments and wind-up the company after a few months...?

Any thoughts/advice?

dvs

You don't need to pay someone for something that can be done here.

bobpitbull

So... what people are talking about here is the possibility of claiming back credit card debts? Or partial credit card debts? Or are we just talking about bank/credit card charges?

I've reclaimed bank debts myself previously so, yeah, if it can be done myself - without any repercussions - then I'd much rather do that.

I really don't agree with this stuff "in principle"... I just feel that I've been stung so much lately by my employer, HMRC, the banks, etc that it's not been fair on myself either. To be honest, if it wasn't for a tax mistake which my employer made 2 years ago (we're talking £10,000s of mistake), which has just been corrected by HMRC, I never would've had any CC or loan debt in the first place.. since HMRC and my banks aren't prepared to help - and since my employer is going through bankruptcy - there's no chance of me clawing this money back any other way...

Marqueec

There are a lot of desperate mortgage brokers entering this market without any understanding whatsoever of how it works, yet they are recommending it to thousands of people. Just be CAREFUL about paying out upfront to a company you don't know

bobpitbull

So... is there a link on this website that would tell me how to go through with an unenforceable loan agreement dealing..? The bank charges one had clear and simple steps to follow...

gnaril

Just like to point out something to people.


Has anyone actually won regarding unenforcable agreements on loan/cards.....

Spoke to collegue at work regarding this and confirmed HBos has not paid out a single one of these claims, one has got to court and the person lost..... more so for the credit card side of the agreements.....

Also just to reiterate dont use any of these companies that are charging u for an aparent service, they do nothing on your behalf you cannot do yourself.

Stay away from SMS claims or any cold callers telling you they CAN get your charges back for upfront fee. I dont believe from what i read anyone has got any joy with this so far....

Anyways thats my 2cents.

bobpitbull

I just received a letter from Virgin today saying that they were putting my interest rate up from 29.9% (!!!) to 34.9%... they'd put my interest rate up in August 2008 without telling me...

In the letter they say that you can "opt out" of the rise by calling them and agreeing not to use the card... so I did that this morning. But then I asked if they'd offered the same thing when they previously increased my rate... "yes, we did, you should've received a letter from us"... "no, I didn't"... "well you should've complained to Royal Mail"... "how could I complain if I didn't know that you tried to write to me?"... "well, we did send the letter"...

Aaaaarrrggghhh.

He gave me an address to write to but I'm just wondering if there's something more that I can do than writing to them...? I am really disgusted by the way they've dealt with this...

Is there a template letter on this website that I can send to them to try to get the 15.9% APR back? I never agreed to the increase, never signed anything to say that they could - so are they really allowed to just increase it? By nearly doubling it...?!?

Honestly... I don't agree with everyone suing their banks and winning credit back from them - but when the banks are treating people like this, I don't blame them...!

Also... regarding bank charges... I had honest, genuine reasons that were out of my control why I went into overdraft... it was a HMRC-related issue that was brought on by my employers' accountants and which has now, finally, after nearly two years, been resolved... but even though I'll be (eventually) repaid the tax that I needn't have paid (which was in the 10s of thousands of pounds) I am still left with all the bank charges... Barclays just this month charged me £176..! That's £22 four times for use of the "Reserve" plus various other charges...

Honestly... the banks have a lot to answer for. I wonder how many people have lost their houses because their banks and credit providers were too heavy-handed and too greedy... I mean, think about it, if Barclays charge people ludicrous fees like this, pushing them further into the red, then effectively push them into bankruptcy, how does that actually help the bank?

~Brock~

bobpitbull wrote: »

I never agreed to the increase, never signed anything to say that they could

Errr......yes you did. The original agreement.;)

bobpitbull

Ah... really? They can just keep increasing the amount how they like? That's unbelievable... but, yeah, if it's in the small print then I guess there's nothing I can do.

gomer

Yes. That's why they say 'Variable'.