Brunel Email - saying you can get credit card balances written off

spendthrift66

I've just had an email (shown below) from Brunel Franklin
Does anyone know if there is any truth in it?

Thanks

(This is the wording)

1) You still owe £5,000 on your loan or credit card

2) You originally borrowed £25,000 or less

3) You took out your loan or credit card before 1st April 2007

[FONT=Arial, Helvetica, sans-serif]If the answer to all of these questions is YES there is a possibility that your loan agreement has errors in it which make it invalid.[/FONT]

[FONT=Arial, Helvetica, sans-serif]This means you could get any loans - secured or unsecured - and any credit card balances, written off completely.[/FONT]

wimblewomble_2

hi spendthrift66,

I cant find anything like that on their website, so it must be a special mailing or something.

Would be worth finding out if this is going to affect your credit rating, as lenders may be wary about lending to you in future, if they know you had your debts written off via BF.

bethanyrayne

spendthrift66 wrote: »

I've just had an email (shown below) from Brunel Franklin

Does anyone know if there is any truth in it?

Thanks

(This is the wording)

1) You still owe £5,000 on your loan or credit card

2) You originally borrowed £25,000 or less

3) You took out your loan or credit card before 1st April 2007

[FONT=Arial, Helvetica, sans-serif]If the answer to all of these questions is YES there is a possibility that your loan agreement has errors in it which make it invalid.[/FONT]

[FONT=Arial, Helvetica, sans-serif]This means you could get any loans - secured or unsecured - and any credit card balances, written off completely.[/FONT]

From Martins Email

Free Legal Trick to wipe out debts? IT DOESN'T EXIST! As if the TV adverts weren’t enough, it seems now cold callers are leaving voicemail messages saying something akin to “want a free, legal, trick to wipe out debts with a little known government loophole?” If you get one of these, don’t believe it and don’t call back!

It’s a cut down form of bankruptcy. What they’re trying to flog you is a cut down version of bankruptcy called an Individual Voluntary Arrangement (IVA). These are often hard sold, as they can make the arranger £5,000 plus. Sadly some who just have mild debts which they can repay are misled. For others in debt-crisis, they may be a good solution, yet even then be careful. For more info read the Free PDF IVA Guide and Problem Debt Guide.

TheAnalyst

bethanyrayne wrote: »

From Martins Email

Free Legal Trick to wipe out debts? IT DOESN'T EXIST! As if the TV adverts weren’t enough, it seems now cold callers are leaving voicemail messages saying something akin to “want a free, legal, trick to wipe out debts with a little known government loophole?” If you get one of these, don’t believe it and don’t call back!

It’s a cut down form of bankruptcy. What they’re trying to flog you is a cut down version of bankruptcy called an Individual Voluntary Arrangement (IVA). These are often hard sold, as they can make the arranger £5,000 plus. Sadly some who just have mild debts which they can repay are misled. For others in debt-crisis, they may be a good solution, yet even then be careful. For more info read the Free PDF IVA Guide and Problem Debt Guide.

Actually it's sometimes different.

What a lot of these companies do is send your creditor's a request under the consumer credit act for a copy of your signed agreement.
The simple fact is that that a lot of the time on older accounts (over 4 years or so as they have got wise to it) the companies no longer have that signed agreement and when they do the agreement does not always contain all the "prescribed terms" as per the comsumer credit act so is invalid.

With no signed agreement technically the debt does not exist and cannot be enforced through collections / courts however most will default your credit file before advising they are not pursuing the outstanding debt.

Its all a bit dodgy and frankly immoral. If you borrow it then pay it back, these types of things are contributing to everyone elses interest rate hikes! They also will charge you a hefty fee for sending something you can send yourself for the cost of a stamp or two.

Steer clear! :cool:

Paul_Herring

How much are they charging for this?

sukey13

I got a similar email from a different company...

"Eliminate your credit card debt NOW"

Any number of cards.... any amount of debt!

How to eliminate debt and create wealth in the shortest possible time. We do not give legal advice however we supply the knowledge, philosophies and template letters necessary to cancel out your credit card balances on all major credit cards. We are not able to help persons who are already in debt consolidation or other debt reorganization programs.
It's time to stop these banksters from forcing thousands and thousands of our families and friends into bankruptcy. (Over a million last year, the majority caused by overwhelming credit card debt).
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What is really going on?

Example 1:
For sake of illustration please follow along with this example:
Part of any bank checking-account agreement is that a customer's deposit must be credited to the customer's account. When a customer makes a deposit of £100 the bank accepts the deposit and credits his/her account for £100. The bank's accounting record now shows that the bank has a liability on its books for £100, because of the £100 asset deposited by the customer (a bank liability is a "bank IOU" for the customer). Per the customer's agreement with the bank, the customer can withdraw the £100 at any time and the bank is legally liable for returning the deposit when demanded.
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In other words, your signed credit card or loan application (promissory note backed by your future labour) is converted into a "cash" asset by the bank. In fact, the bank stamps the back of the credit card agreement/loan application (promissory note) just as it would any other deposit, and then deposits it into a "transaction account" (a special account no different than a checking account that is opened under your name, but without your knowledge or consent). The bank then returns the cash to you (your "loan"), but also wants you to pay back this "loan" (of your own deposit) as if the bank had loaned you its own money. For these reasons, the bank does not fulfill its part of the loan agreement, thus nullifying the contract between the two of you and releasing you from any "repayment" obligation.
Despite what you may have been taught, this is the way the banks do business and this is what has happened in every single bank "loan" transaction you have ever been involved in. Bankers pray that no one will find out about the scam and ask for return of his/her original deposit, i.e. the signed promise to pay (asset) and expose the banking system for the confidence game that it is.
Example 2:
Here is a simpler, if idiotic, explanation of the above example:
John agrees to loan you £100 of his own money at 5% interest, but also requires that you put up a £100 cash deposit as collateral for the loan. Let us say that this was an acceptable loan arrangement for you and you entered the loan transaction, taking a £100 note from your pocket and giving it to John as collateral, and John then handing it right back to you and calling it the "loan". Let us also say that you paid back the £100 plus £5 in interest as agreed, but that John failed to return the £100 cash deposit that you had put up for the loan.
John would be in breach of this loan agreement for two reasons: 1) He did not loan his own money, and 2) He did not return your deposit. Both are grounds for nullification of the original loan agreement and all such "loans" from banks, credit card companies, and other types of "lending" institutions are not different from the example.
Modern "lenders" accept your signed promise to pay as "cash" and deposit the signed promise to pay in an account in your name without your knowledge and use your deposit as the source of all the money you receive in the so-called "loan," but never tell you about it and never return your original deposit. This is the way the banking system has operated since 1913.
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[EMAIL="debtfree@creditcardwriteoffs.com"]debtfree@creditcardwriteoffs.com[/EMAIL]

nobblyned

Fish75 wrote: »

I know a little bit about this, worked in finance for the last 5 years.

Consumer Credit Act changed in 07 & it has come to light that the majority of Agreements posted pre April 07 may not be legally enforceable, so the debt could actually be written off.

Its not an IVA or anything - its a legal technicality exploiting how the old Credit Agreements were structured.

I've done something similar myself last month just waiting to see if its been successful - I used (link removed) - there were some fees involved but advantage over IVA is that will not effect credit rating if successful as the contract gets cancelled so its as though it never existed.

SPAM, reported

r*s*f*

HELP! I've put the cost of my new bathroom (essential, the old one fell apart) on my previously 0% credit card. The total balance on there is now just shy of £7000 and I despite trying various companies I can't get anyone to give me a new 0% card. I've tried splitting it between 2 and even 3 cards but nobody wants me. I also can't get out of my high interest mortgage without paying a huge redemption fee so my finances are currently as rare as rocking horse poo. I am a homeowner and earn over £24, 000 a year, can anyone offer me any advice?? I'm really starting to panic now. Thanks in advance. Rachel

nzseries1

nobblyned wrote: »

SPAM, reported

Are you sure it's spam? I believe that Fish75 is correct as I was told the same thing by several different people on the forum.

nzseries1

r*s*f* wrote: »

HELP! I've put the cost of my new bathroom (essential, the old one fell apart) on my previously 0% credit card. The total balance on there is now just shy of £7000 and I despite trying various companies I can't get anyone to give me a new 0% card. I've tried splitting it between 2 and even 3 cards but nobody wants me. I also can't get out of my high interest mortgage without paying a huge redemption fee so my finances are currently as rare as rocking horse poo. I am a homeowner and earn over £24, 000 a year, can anyone offer me any advice?? I'm really starting to panic now. Thanks in advance. Rachel

Hello,
You're best to start your own thread, as it will be more noticed. Posting in the middle of someone else's unrelated thread isn't usually a good idea.

nobblyned

nzseries1 wrote: »

Are you sure it's spam? I believe that Fish75 is correct as I was told the same thing by several different people on the forum.

I was referring to the website he linked offering these services, which has now been removed by the mods.