Write Off Credit Card Debt
May 18, 2009 by admin
Filed under Wipe Cards
You may be surprised to learn that it is thought that many credit agreements from the banks are flawed in one way or another, and 20 percent of the agreements may not even be worth the paper the contract was written on.
The Consumer Credit Act of 1974 insists upon strict terms and conditions that must be written into the contract that you have signed. For example, the interest rates must be clearly stated and correctly calculated, and often this is simply not the case. In some cases these agreements aren’t even signed!
You can write off your debts and claim compensation on anything from credit cards, credit card fees, secured and unsecured loans, bank charges, store cards and especially the payment protection insurance plan which was probably mis-sold to you.
If you’ve taken any kind of credit agreement or loan before April 2007 you might be able to have the debt written off completely and legally by using a solicitor on a no win no fee basis.
Get your solicitor to request a copy of the credit agreement from your lender. This agreement will then be closely audited to see if it does in fact comply with the 1974 Consumer Credit Act. If breaches are found in the credit agreement, it may be unenforceable.
The solicitor will write to the lender on your behalf, so you don’t have to do anything. The process will take about nine months depending on how long your credit company take to respond to the request for the documentation.
This is not debt management, an IVA (Individual Voluntary Arrangement) or bankruptcy. The service is free to use and you don’t have to pay anything until you’ve won.
For far too long banks and credit card companies have taken their customers to the cleaners, charging ridiculous rates and exorbitant fees for late payments, reducing the credit limit so the customer now has exceeded their allowed limit and then charging another fee. On top of this, we pay even more yearly fees for the “privilege” of having one of their credit cards.
It’s your turn to see if you can write off your debts. It’s legal, fair, justified and could save you thousands of pounds. Use the law to write off debts and restart your life debt free, and free from the day to day worry that you can’t pay your bills.
