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  • FIRST POST
    • smidders
    • By smidders 27th Feb 18, 6:36 PM
    • 1Posts
    • 0Thanks
    smidders
    Credit limit increase - irresponsible lending
    • #1
    • 27th Feb 18, 6:36 PM
    Credit limit increase - irresponsible lending 27th Feb 18 at 6:36 PM
    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
Page 1
    • MH1927
    • By MH1927 27th Feb 18, 9:15 PM
    • 18 Posts
    • 9 Thanks
    MH1927
    • #2
    • 27th Feb 18, 9:15 PM
    • #2
    • 27th Feb 18, 9:15 PM
    Sounds like an Advance fee fraud scam to me.
    • z1a
    • By z1a 27th Feb 18, 9:22 PM
    • 1,363 Posts
    • 1,303 Thanks
    z1a
    • #3
    • 27th Feb 18, 9:22 PM
    • #3
    • 27th Feb 18, 9:22 PM
    Pretty sure you get the option to decline any increase.
    • Ben8282
    • By Ben8282 28th Feb 18, 5:12 AM
    • 2,352 Posts
    • 1,077 Thanks
    Ben8282
    • #4
    • 28th Feb 18, 5:12 AM
    • #4
    • 28th Feb 18, 5:12 AM
    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.
    Last edited by Ben8282; 28-02-2018 at 5:16 AM.
    • msallen
    • By msallen 28th Feb 18, 7:51 AM
    • 840 Posts
    • 922 Thanks
    msallen
    • #5
    • 28th Feb 18, 7:51 AM
    • #5
    • 28th Feb 18, 7:51 AM
    This has scam written all over it.
    • zx81
    • By zx81 28th Feb 18, 7:55 AM
    • 17,273 Posts
    • 18,380 Thanks
    zx81
    • #6
    • 28th Feb 18, 7:55 AM
    • #6
    • 28th Feb 18, 7:55 AM
    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
    • By Edi81 28th Feb 18, 8:49 AM
    • 469 Posts
    • 320 Thanks
    Edi81
    • #7
    • 28th Feb 18, 8:49 AM
    • #7
    • 28th Feb 18, 8:49 AM
    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
    • By pogofish 28th Feb 18, 1:42 PM
    • 8,632 Posts
    • 8,977 Thanks
    pogofish
    • #8
    • 28th Feb 18, 1:42 PM
    • #8
    • 28th Feb 18, 1:42 PM
    How is this a stoozing matter?
    • Superscrooge
    • By Superscrooge 28th Feb 18, 2:04 PM
    • 1,081 Posts
    • 775 Thanks
    Superscrooge
    • #9
    • 28th Feb 18, 2:04 PM
    • #9
    • 28th Feb 18, 2:04 PM
    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
    • By nic_c 5th Mar 18, 4:43 PM
    • 1,524 Posts
    • 834 Thanks
    nic_c
    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.
    Originally posted by zx81
    Well PPI is coming to an end so these companies need to move on to the next cash cow
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