draffin
Well-Known Member
As above , has anyone won there credit card debts being wiped out ?!! if so which company did u go with and how much did it cost , or was it a no win no fee one ????
thanks
credit card debt wiped out ??? anyone done this ??which companies?
- Thread starter draffin
- Start date
As above , has anyone won there credit card debts being wiped out ?!! if so which company did u go with and how much did it cost , or was it a no win no fee one ????
thanks
saskia295
Well-Known Member
You can only get your debts 'wiped' by entering into an IVA or bankruptcy and now there is some new legislation allowing for Debt Relief Orders.
These are the only ways you can 'wipe' things, but there are many factors you need to consider before doing anything.
I'm afraid no company will just 'wipe' things for you. If they did, everyone would have done it by now, I would be out of a job, and there would be no 'credit crisis'!!
These are the only ways you can 'wipe' things, but there are many factors you need to consider before doing anything.
I'm afraid no company will just 'wipe' things for you. If they did, everyone would have done it by now, I would be out of a job, and there would be no 'credit crisis'!!
treacle86
Well-Known Member
I think someone on here was talking about what your thinking off ??? not sure who tho , where by certain things apply if you took out a credit card before april 2007 ??? may not be enforceable depending on situation .
??? not definite. x
??? not definite. x
palomino698
Well-Known Member
There are reams and reams of threads about this on the credit card section the forums on Martin Lewis's very comprehensive website www.moneysavingexpert.co.uk
I don't think anyone actually seems to know anyone who has been successful, though a great many companies will charge you a hefty fee to 'try' and process a claim that you can just as easily handle yourself.
I don't think anyone actually seems to know anyone who has been successful, though a great many companies will charge you a hefty fee to 'try' and process a claim that you can just as easily handle yourself.
Box_Of_Frogs
Well-Known Member
Take great care and keep your eyes wide open for hidden costs. In this world there honestly IS no such thing as a free lunch. As already posted by others, there are various ways to clear debts but believe me, none of them is painless. I used to work for a local authority in a homelessness prevention unit. CABx offer comprehensive debt advice and can help people make a list of all their income and outgoings. Respectable creditors will accept given amounts for eg food, mortgage/rent, clothes, utilities etc and if the case is presented well and it is clear that the person can only afford eg £5 a week to pay off a debt, they will usually accept this if the person is genuine. Be aware that any method for clearing debt can have a very serious impact on your life. In some circumstances, you will not be able to open a bank account and how would you pay your bills or buy your groceries/petrol, never mind explaining how you need your salary paid!
It's a minefield and you can bet your bottom dollar that someone will be making a decent living out of this misery. Worth repeating: there's no such thing as a free lunch!!!!!
It's a minefield and you can bet your bottom dollar that someone will be making a decent living out of this misery. Worth repeating: there's no such thing as a free lunch!!!!!
SSM
Well-Known Member
Sorry but can I be blunt?
Did you run up these debts? Then why should you not be paying them off rather than running away from your debt?
Did you run up these debts? Then why should you not be paying them off rather than running away from your debt?
melaniemarks
Well-Known Member
If you have an unpaid debt, and the Credit card/Loan company cannot produce a true signed(by both parties) copy of the Consumer credit agreement or CCA then they, or any debt collecting agency cannot legally collect the debt. Obviously though, this should only be used if you really cant afford to pay your debt for whatever reason and have got into a bit of financal poo poo. But its true start asking creditors for a copy of the original CCA and they drop like flies.
ISHmad
Well-Known Member
[ QUOTE ]
Sorry but can I be blunt?
Did you run up these debts? Then why should you not be paying them off rather than running away from your debt?
[/ QUOTE ]
The voice of reason. This was just what I was going to say. It's all very well companies setting up to help people avoid paying their debts. BUT firstly you've had the benefit of everything you bought on your credit card and secondly this kind of thing is what pushes the cost up for those of us who do honour our debts.
Sorry but can I be blunt?
Did you run up these debts? Then why should you not be paying them off rather than running away from your debt?
[/ QUOTE ]
The voice of reason. This was just what I was going to say. It's all very well companies setting up to help people avoid paying their debts. BUT firstly you've had the benefit of everything you bought on your credit card and secondly this kind of thing is what pushes the cost up for those of us who do honour our debts.
gekko
Well-Known Member
...and once you avoid paying your debts don't ever expect anyone to give you any form of credit or loan again!
Would you lend money to a person who has shown their complete lack of honesty by borrowing money with a promise to repay it and then looked to get out of that responsibility?
Would you lend money to a person who has shown their complete lack of honesty by borrowing money with a promise to repay it and then looked to get out of that responsibility?
Bowen4Horses
Well-Known Member
also, things like IVAs look really closely into your spending... i'd presume keeping a horse would not be deemed an 'essential'...
you'd be better off talking to the CC company, explaining the situation, getting them to freeze your card, and see if you can pay the balance off monthly. apparently some will freeze the interest. x
you'd be better off talking to the CC company, explaining the situation, getting them to freeze your card, and see if you can pay the balance off monthly. apparently some will freeze the interest. x
bailey14
Well-Known Member
You have to declare yourself bankrupt to do this, and from what I have heard you have to think long and hard as this will have an impact on you and your credit for the rest of your life. I am not in debt, and if I haven't the money I will go without. At 39 years of age I cringe and have sleepless nights if I go into my overdraft. I have no credit cards and have nothing on HP. I feel sorry for people that are thousands of pounds in debt but we call all do that if we didn't have the will power I guess. I am not trying to make judgements though as my friend was in debt following a messy divorce and living in expensive calor gas heating with the accomodation he rented. He had the interest taken off after speaking to his bank manager which lightened his debt considerably and he is now completely debt free and I am very proud of him.
Lippyx
Well-Known Member
I contacted someone about this, and to start with it sounded good, but then I found out you have to pay them £450 to take on your cliam, and I wasn't even guaranteed it would be wiped out (legal costs or something)
You can do it your self. Basically yousend them a letter along with a cheque for £10 (I think) asking them to release the agreement to prove you signed up for the card. Give them a few weeks, and send another letter. If you still don't get anything, then they have destroyed the original agreement, and the chances are you can STOP paying them and there is nothing they can do about it!
Obviously that means you wouldn't be able to get more money from said credit card or its ajoining companies, as they will be a little ticked with you!!
You can only do this if you took out credit card BEFORE April 2007 as apparantly, before this date, the companies destroyed most agreements!
Don't take my word for this, go to Money Expert for more details!!
You can do it your self. Basically yousend them a letter along with a cheque for £10 (I think) asking them to release the agreement to prove you signed up for the card. Give them a few weeks, and send another letter. If you still don't get anything, then they have destroyed the original agreement, and the chances are you can STOP paying them and there is nothing they can do about it!
Obviously that means you wouldn't be able to get more money from said credit card or its ajoining companies, as they will be a little ticked with you!!
You can only do this if you took out credit card BEFORE April 2007 as apparantly, before this date, the companies destroyed most agreements!
Don't take my word for this, go to Money Expert for more details!!
rushyj
Well-Known Member
The reason this can be done is all agreements have to comply with the consumer credit act of 1974. This act was introduced to protect the rights of lenders and borrowers who have a contract with each other. Millions of credit agreements ranging from credit cards to loans may be in breach of the act and a court may deem them unenforcable.
If the contract you signed proves to be unenforcable or non compliant the solicitors can take action to write off or reduce the balance.
My husband does this work and I can assure you it is not a load of debt dodgers this is people who are against the wall being mercilessly persued for a debt that is written up with a non compliant contract that is completely loaded in the lenders favour.
If the contract you signed proves to be unenforcable or non compliant the solicitors can take action to write off or reduce the balance.
My husband does this work and I can assure you it is not a load of debt dodgers this is people who are against the wall being mercilessly persued for a debt that is written up with a non compliant contract that is completely loaded in the lenders favour.
Lippyx
Well-Known Member
TBH the best thing to do is get a 0% balance transfer card and transfer it over. Thats what I have done and it makes a BIG difference!!
melaniemarks
Well-Known Member
Yes the agreement youre refering to is the CCA. And youre right the chances are that your creditor will not have it, therefore legally they cannot collect on the debt. You send a cheque or postal order for £1. And they only get 12 days to reply..But beware if you send a cheque that YOU have signed it has been known for debt collectors to cut and paste your signature onto a "fake" CCA!! and pass it off as the original.
Draffin whatever you do don't go down the IVA route as said before. there is no way you will get any where with debts if you keep horses and they will take a hefty "fee" for sorting out what you can do yourself. ie payments that you can afford. Always talk to the original creditor and NOT debt collecting agencys as they can be foul. Always insist everything is in writing and be realistic about what you can afford to pay on a monthly basis. And dont let anyone jugde you for being in debt. It can happen to anyone for all kinds of reasons and its not a crime. Also as said above have a look at sites such as money saving expert or the consumer action group. Very helpfull. Good luck x
Draffin whatever you do don't go down the IVA route as said before. there is no way you will get any where with debts if you keep horses and they will take a hefty "fee" for sorting out what you can do yourself. ie payments that you can afford. Always talk to the original creditor and NOT debt collecting agencys as they can be foul. Always insist everything is in writing and be realistic about what you can afford to pay on a monthly basis. And dont let anyone jugde you for being in debt. It can happen to anyone for all kinds of reasons and its not a crime. Also as said above have a look at sites such as money saving expert or the consumer action group. Very helpfull. Good luck x
gekko
Well-Known Member
Aviding paying your bills may not be a crime...but it is dishonesty! You give your word to do something, you DO IT come hell or high water! At least I do, but maybe as an honest person I'm a rarity?
Toby_Zaphod
Well-Known Member
It may be old fashioned but if I can't afford something & I really want it I save for it..... or is that too strange an idea for some people to grasp?
If a debt was lawfully entered into, you wanted the item so you borrowed to buy it then why now do you want to squirm out of your obligations? I'm afraid I have little sympathy for people who want a 'champagne lifestyle on beer money'. The whole mess the world is in is due to people borrowing money they can't or won't pay back!
I have managed to go through life without a credit card & as a result I am not in debt. People should be more responsible & give more consideration before taking out loan after loan & end up still paying when what they bought has long since worn out & been discarded.
Sorry....I'm off my soapbox now but this makes me really angry.
If a debt was lawfully entered into, you wanted the item so you borrowed to buy it then why now do you want to squirm out of your obligations? I'm afraid I have little sympathy for people who want a 'champagne lifestyle on beer money'. The whole mess the world is in is due to people borrowing money they can't or won't pay back!
I have managed to go through life without a credit card & as a result I am not in debt. People should be more responsible & give more consideration before taking out loan after loan & end up still paying when what they bought has long since worn out & been discarded.
Sorry....I'm off my soapbox now but this makes me really angry.
chestnut cob
Well-Known Member
[ QUOTE ]
As above , has anyone won there credit card debts being wiped out ?!! if so which company did u go with and how much did it cost , or was it a no win no fee one ????
thanks
[/ QUOTE ]
Why did you run up the debt if you can't afford to pay it off? This sort of thing makes me really mad - I have a credit card but I pay it off every month. Don't take out loans and credit cards if you can't afford to pay them back. Nothing in this life is free and people like you just make life all the more difficult for the honest people in this world who do pay their loans off.
Why would you WANT to cancel the debt? And why go to all of that effort to prove a credit card company don't have a copy of signed agreement, when you spent the money in the first place? For arguments sake, say you have a Barclaycard with 4K on it. Barclaycard have paid all of those bills on your behalf and in good faith they expect you to pay them back. If you don't, all that happens is that Barclaycard end up 4K out of pocket and then they will start putting charges up for the honest people who DO pay their bills.
Sorry but I am disgusted that you would even consider this. If you really can't afford it then suggest you talk to the CAB about considering declaring yourself bankrupt. A friend of mine did this because her ex-OH (abusive and controlling) ran up about 50K of debt in her name. It took her years to pay off, meant she couldn't get a bank account, a house (rented or to buy), even a mobile phone contract for years. She was declared bankrupt at age 22 (seriously) and couldn't get a mobile phone contract until she was 28.
As above , has anyone won there credit card debts being wiped out ?!! if so which company did u go with and how much did it cost , or was it a no win no fee one ????
thanks
[/ QUOTE ]
Why did you run up the debt if you can't afford to pay it off? This sort of thing makes me really mad - I have a credit card but I pay it off every month. Don't take out loans and credit cards if you can't afford to pay them back. Nothing in this life is free and people like you just make life all the more difficult for the honest people in this world who do pay their loans off.
Why would you WANT to cancel the debt? And why go to all of that effort to prove a credit card company don't have a copy of signed agreement, when you spent the money in the first place? For arguments sake, say you have a Barclaycard with 4K on it. Barclaycard have paid all of those bills on your behalf and in good faith they expect you to pay them back. If you don't, all that happens is that Barclaycard end up 4K out of pocket and then they will start putting charges up for the honest people who DO pay their bills.
Sorry but I am disgusted that you would even consider this. If you really can't afford it then suggest you talk to the CAB about considering declaring yourself bankrupt. A friend of mine did this because her ex-OH (abusive and controlling) ran up about 50K of debt in her name. It took her years to pay off, meant she couldn't get a bank account, a house (rented or to buy), even a mobile phone contract for years. She was declared bankrupt at age 22 (seriously) and couldn't get a mobile phone contract until she was 28.
melaniemarks
Well-Known Member
I had a friend that ran up some debts. Was paying them each month comfortably but THEN lost his job through ill health. He was persued by debt collection agencys to the point where he was bombarded with letters threateining to take his house away and send people round. He was also getting up to 30 phone calls a day which were often abusive. After about a year he couln't take the pressue and hanged himself. Leaving behind a wife and child. Now these "people" chase his widow for the debts.. Now THATS disgusting.
borris123
Active Member
What a load of self righteous rubbish talking about banks and credit card companies and good faith etc they have used sharp practice and overcharged for years, made billions of profit and now have billions of tax payers money which they will be trying to avoid paying back, sacking thousands of people using every legal loophole possible, if there contract isn't waterproof don't pay them.
melaniemarks
Well-Known Member
Well said forestgunner!!! We could go on and on mentioning things like
horrendous interest rates for those who are most disadvantaged.
Tax payers bailing out banks( to enable them to lend you the money back - with interest Grrrrr)
Bankers bonuses
£850,000 a year pensions for "sinking" RBS etc etc..
But I will start getting on my high horse - excuse the pun!!
In an ideal world, no one would run up debts they cant afford, but were all different and all human.
Enough said from me. I wanna go back to talking about neds. Less stressfull
horrendous interest rates for those who are most disadvantaged.
Tax payers bailing out banks( to enable them to lend you the money back - with interest Grrrrr)
Bankers bonuses
£850,000 a year pensions for "sinking" RBS etc etc..
But I will start getting on my high horse - excuse the pun!!
In an ideal world, no one would run up debts they cant afford, but were all different and all human.
Enough said from me. I wanna go back to talking about neds. Less stressfull
Patches
Well-Known Member
Haven't read the other replies?
What do you mean wiped out? I take it you bought things/paid for things on your Credit Card? If so, why would you want to shirk paying what you owe by seeking to have your debt wiped?
I don't get it.
What do you mean wiped out? I take it you bought things/paid for things on your Credit Card? If so, why would you want to shirk paying what you owe by seeking to have your debt wiped?
I don't get it.
Patches
Well-Known Member
[ QUOTE ]
...and once you avoid paying your debts don't ever expect anyone to give you any form of credit or loan again!
Would you lend money to a person who has shown their complete lack of honesty by borrowing money with a promise to repay it and then looked to get out of that responsibility?
[/ QUOTE ]
You'd think it was that simple, wouldn't you?
Somehow a relative of mine still manages to obtain credit, recently a substantial car loan and a new Credit Card, when she's had countless mortgage arrears, Court orders over CC debt and the likes too.
The mind boggles. All these people who take out credit, don't pay for it and end up crying in court to payments set at a barmy £1 a month just spoil things for the rest of us.
I refuse to have any form of credit and I don't have a mortgage at the moment either (our farm is paid for).
...and once you avoid paying your debts don't ever expect anyone to give you any form of credit or loan again!
Would you lend money to a person who has shown their complete lack of honesty by borrowing money with a promise to repay it and then looked to get out of that responsibility?
[/ QUOTE ]
You'd think it was that simple, wouldn't you?
Somehow a relative of mine still manages to obtain credit, recently a substantial car loan and a new Credit Card, when she's had countless mortgage arrears, Court orders over CC debt and the likes too.
The mind boggles. All these people who take out credit, don't pay for it and end up crying in court to payments set at a barmy £1 a month just spoil things for the rest of us.
I refuse to have any form of credit and I don't have a mortgage at the moment either (our farm is paid for).
kick_On
Well-Known Member
ER...............................
Yes bankers may be w****kers and professional at it, just like the government
BUT if you get credit cards and then go on buy stuff on them and then try and find decenfull ways of NOT paying YOUR DEBTS..................
SO yes to me it's THEIVING................ and just put up interest rates for us honest folk
If you can't afford it or do it DON'T BUT IT - simple as
Yes bankers may be w****kers and professional at it, just like the government
BUT if you get credit cards and then go on buy stuff on them and then try and find decenfull ways of NOT paying YOUR DEBTS..................
SO yes to me it's THEIVING................ and just put up interest rates for us honest folk
If you can't afford it or do it DON'T BUT IT - simple as
hollyandivy123
Well-Known Member
well said
birchave0
Well-Known Member
Yes.............
Due to a complaint over miss sold payment protection insurance.....
They were in the wrong, I never asked for the cover in the first place, no insurance policy existed.
I did it myself, did not use a company and everything I did was legal and lawful.
The company in question were charging 17.9% contractual interest on purchases and the insurance itself
I wanted to go to court but in the end it was settled before it got that far. Had it got to court I believe they would have had a bit of an ar*e kicking for their practices
So please, before you judge not all cases are people trying to dodge debt, there is always two sides to every story and the banks/credit card companies are not the good guys all of the time
Due to a complaint over miss sold payment protection insurance.....
They were in the wrong, I never asked for the cover in the first place, no insurance policy existed.
I did it myself, did not use a company and everything I did was legal and lawful.
The company in question were charging 17.9% contractual interest on purchases and the insurance itself
I wanted to go to court but in the end it was settled before it got that far. Had it got to court I believe they would have had a bit of an ar*e kicking for their practices
So please, before you judge not all cases are people trying to dodge debt, there is always two sides to every story and the banks/credit card companies are not the good guys all of the time
jvoyce
Well-Known Member
[ QUOTE ]
I refuse to have any form of credit and I don't have a mortgage at the moment either (our farm is paid for).
[/ QUOTE ]
That's admirable, but not all of us are in such a fortunate situation even when we work hard, earn our salaries and try to live a decent life.
I refuse to have any form of credit and I don't have a mortgage at the moment either (our farm is paid for).
[/ QUOTE ]
That's admirable, but not all of us are in such a fortunate situation even when we work hard, earn our salaries and try to live a decent life.
CSLG
Well-Known Member
If I was you I would face up to my debt like the rest of us have to and then do without until you can afford to buy things with your own money.
rushyj
Well-Known Member
Personally I don't think there is a person out there that would not love to own the farm they live on outright and pay the bills bang on time every time and never need credit but unfortunately life is not like that for everyone.
I think the banks have ripped people off for years and are only ever held to account when someone pays out of thier own pocket to take them to court. (Bank Charges) Do they then say actually this charging is unfair and should be lowered no they wait for people to put thier necks and thier money on the line to get back money the bank charged wrongfully.
The RBS guy who got that pension payout. Is there one person here who would not have liked to see him have that pension removed from him???????? He had a contractual right to that money....so where is the difference????
To put it bluntly it is very easy to stand on a soap box that you have paid for outright and never needed credit to buy.....bit harder for others to be heard when thier soap box has been repossessed!!!!!!!!
I think the banks have ripped people off for years and are only ever held to account when someone pays out of thier own pocket to take them to court. (Bank Charges) Do they then say actually this charging is unfair and should be lowered no they wait for people to put thier necks and thier money on the line to get back money the bank charged wrongfully.
The RBS guy who got that pension payout. Is there one person here who would not have liked to see him have that pension removed from him???????? He had a contractual right to that money....so where is the difference????
To put it bluntly it is very easy to stand on a soap box that you have paid for outright and never needed credit to buy.....bit harder for others to be heard when thier soap box has been repossessed!!!!!!!!
M_G
Well-Known Member
You run up the debts now just pay them off... Jesus no wonder the economy is in such a [****] state!!!