Before April 2007 if you took out any credit cards, store card, catolague etc

They can clear the debt.
How true is this?
Some say no win no fee.
Is there a catch?

14 Comments

maybe a link to who you mean!!!!

Banned

Eh???

"gets out crystal ball"

Original Poster

i dunno how true is all this so just wanted to know more about it .

Its something to do with whether you signed a credit agreement. My brother had over £10,000 worth of debt wiped off by asking the credit card company to prove that he signed a credit agreement. They couldnt do so and he refused to pay the debt. They've not bothered him since

Original Poster

treble99;4696130

Its something to do with whether you signed a credit agreement. My … Its something to do with whether you signed a credit agreement. My brother had over £10,000 worth of debt wiped off by asking the credit card company to prove that he signed a credit agreement. They couldnt do so and he refused to pay the debt. They've not bothered him since


how did he manage thaT?

Original Poster

lol
my husband wont dare to not pay it coz he thinks it as stealing..

Who would know about this? :?

starsparkle2311;4696872

OP obviously, pleased they[ve shared,lol



But she don't coz she's asking us lol
I mean, who could we phone to find out? Is there anyone?

sharonwai;4696436

how did he manage thaT?



Im not sure exactly what he did, I will ask him next time I see him but im sure that he said to the credit card company if there was no signed credit agreement, then there was no legally binding contract between him and them.
There was a panorama programme on bbc1 about this a while back, some couple got over £100,000 worth of debt wiped out.
Its prob worth researching a bit more, might also be worth asking the bank/ credit card company for a copy of the credit agreement under data protection, only costs £10.
HTH

starsparkle2311;4697156

it's HUKD, large pinch of salts needed, before I'll believe … it's HUKD, large pinch of salts needed, before I'll believe it!!!!!!!!!!!!I'm still smarting after the homework advice I asked for!!!!!!!!!!!!In fact, any advice on here I've asked for, total ****!!!!!!!!!!!! lol



lol, hmmm.....no one seems to kow anything:roll:

Original Poster

starsparkle2311;4697156

it's HUKD, large pinch of salts needed, before I'll believe … it's HUKD, large pinch of salts needed, before I'll believe it!!!!!!!!!!!!I'm still smarting after the homework advice I asked for!!!!!!!!!!!!In fact, any advice on here I've asked for, total ****!!!!!!!!!!!! lol



Not at all , i always get some good advice...lol most of the time ;-)

It is true that under certain conditions you can avoid having to pay the balance on credit card and loan agreemens. Under the consumer credit act 1974 if your agreement does not adhere to strict rules over APR rates and fees etc then the whole agreement is unenforeable. This means that no legal action can be taken against you if you stop paying, it also shouldn't affect your credit report.

There are loads of companies offering this, I work for one company doing about 800 claims a month since November last year. So far about 70% of agreements are either not enforeable or the companies are not able to provide the original agreements. But there is still a legal process to go through before you can stop paying. I won't refer to my company as we only operate through financial intermediaries, but a quick google search will find loads of companies.

[url]www.ratiomoney,co.uk[/url] are a large company doing this - they are quite slow though!
[url]www.monsterclaims.co.uk[/url].

But all this is possible doing it yourself, I would try citizens advice or debt advisory if you are seriously considering this
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