Write off credit cards!

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gailt

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At long last my OH has finally found something that he can get his teeth into.

You know all the stuff with the banks and their charges getting refunded..

Well stage 2, if you own a credit card, taken out before march 2007, we with the help of a group of solicitors are going to help people right the credit card off...totally! credit card companies have broken the law in their terms and are about to pay a price..lol. Barclays alone have started taking on new staff and have set aside 8 billion to cover costs of refunding peoples credit card totals..OMG how wicked is that, and at a great time, credit crunch and all..lol.. The best part of it is, people have nothing to loose by finding out if their card qualifies to be written off..

After our business went down the pan, thanks to so called friends, ive been waiting for my OH to get his drive back..well this has done it...Welcome home hunni!.. :P ;D
 
The charges or the whole debt? Charges have been being reclaimed for a while. I subscribe to Money Saving Expert and, TBH, if Martin Lewis hasn't picked up on this then I doubt it can be done (writing off the whole debt).
 
This is the CCA (1974) section 76 rule isn't it?
I have an egg card and I have been looking into this, am I right in thinking that I have to get them to produce the ORIGINAL agreement with my signature? I know a couple of friends who have started this process, I think they have about a 75% success rate, so definitely worth a go.
Good Luck
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Yup the whole debt!!
yes your right FA2, the group of solicitors we are using have 100% sucess rate on cards taken out before march 2007.
 
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The charges or the whole debt? Charges have been being reclaimed for a while. I subscribe to Money Saving Expert and, TBH, if Martin Lewis hasn't picked up on this then I doubt it can be done (writing off the whole debt).

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It can be done, but it is quite risky as you could have all of your credit withdrawn (in theory) while going through the process (from all lenders).

It is the whole debt, but it can adversly affect your credit rating. Most people charge over £250 per debt, I have been researching it and honestly think that a reasonably intelligent person could do it themselves and save their £250 which is what I will try! I let you know!
 
Good luck FA2, we have arranged that the fee people put up front is actually paid on the card that will get written off, if in the event it cant go through we also have arranged a full refund, people cant loose. It may affect credit rating for 6 months but in my opinion it would take most people years to pay off their cards so 6 months of no credit or restricted credit is nothing.
 
I see. I think it is bloody dreadful to be honest - encouraging people to spend money they don't have and tell them that they can write the debt off. It is akin to stealing. If you don't have it, don't spend it. Sorry, I know that a LOT of people will be affronted by those comments, but I don't see why it is fair for people who incur thousands of pounds of debt to be able to just say "ho hum, never mind" and walk away from it whilst retaining all the goods they purchased. I have a credit card, I pay my fees...those fees are the ones will go up because of this - not fair. And yes, I could play the game, but I just couldn't, my morals just would not allow it.

I am not judging anyone, but I think people should accept their debt and these days fewer people are doing that and that is why so many people are in the cack.
 
There was a story on BBC News websie about this a few weeks back.

I'm sorry, but I agree with Weezy. I find it shocking that people get into debt and then go through it with a fine tooth comb to try and get out of paying said money back.
 
Ahhh yes, I read that story, and must admit that I wanted to hit both people over the head and tell them to grow up and face the real world. Some people call it clever, I still call it stealing. If you are that adamant that there is nothing you can do about your debt, do the right thing and declare yourself bankrupt, don't try and screw the system and laugh all the way to the bank....or not
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However, there is ALWAYS a way to manage your debt if you are adult about it and don't bury your head.
 
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I see. I think it is bloody dreadful to be honest - encouraging people to spend money they don't have and tell them that they can write the debt off. It is akin to stealing. If you don't have it, don't spend it. Sorry, I know that a LOT of people will be affronted by those comments, but I don't see why it is fair for people who incur thousands of pounds of debt to be able to just say "ho hum, never mind" and walk away from it whilst retaining all the goods they purchased. I have a credit card, I pay my fees...those fees are the ones will go up because of this - not fair. And yes, I could play the game, but I just couldn't, my morals just would not allow it.

I am not judging anyone, but I think people should accept their debt and these days fewer people are doing that and that is why so many people are in the cack.

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Completly agree with you Lou. It is taking advantage of a loop hole. You spent the money so should pay it back (not you personally obviously but people in general
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). I hate having a credit card and it is literally only used in emergencies. The innocent will be made to pay the penalty.

Overdraft charges in my opinion are a totally different ball game as £30 for a letter is never reasonable £3 yes maybe but £30 no so I have no problem with claiming back those fees.

I think people would be fairly foolish to go down claiming against credit card companies, I bet if you did win it back you would never get a credit card again and would then truely be stuffed when you did need one for genuine reasons.
 
I agree too. If you created the debt, then you should pay it back, along with all the charges the card accrued when you didn't pay it back in time, or off completely.

At this rate all the Banks' are going to go bust and so are we. My Bank has reduced the savings rates massively but not the mortgage rate.
 
At this rate all the Banks' are going to go bust and so are we.

<font color="blue"> </font> Theyve just been bailed out with public money in the billions

<font color="blue"> </font> Its their own damn fault IMO theyve been throwing money at people for the last few years they are the ones that have been irresponsible , they cant start shouting about their customers bailing out when they have had to be bailed out with our money

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I agree totally with Weezy. If you have borrowed money pay it back - don't use some vague loophole to try and get out of your responsibilities. It's immoral and unethical - then you become worse that the banks you are berating. And selling a service to do this is just making money out of peoples misery.
 
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At this rate all the Banks' are going to go bust and so are we.

<font color="blue"> </font> Theyve just been bailed out with public money in the billions

<font color="blue"> </font> Its their own damn fault IMO theyve been throwing money at people for the last few years they are the ones that have been irresponsible , they cant start shouting about their customers bailing out when they have had to be bailed out with our money

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Absolutely breathtaking. Its as if the customers who applied for the borrowing werent even involved isnt it?
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Borrow money if you want but bloody well pay it back! Thats the deal....The rest of us do, and well all end up paying for yours too in higher fees, on top of the bailing out of the banks.
It makes me sick, no wonder this country is in a state. To me its little different than fraud. I hope I never have any financial dealings with you.
 
ITA Weezy.

The banks may well have been subsidised with public money but it doesnt help the situation if they have to spend it wiping out credit cards that people have racked up.

I find it disgusting.
 
the best thing i was ever taught as a kid was save up and then buy it not buy it now and pay for the next 3 years. you wanted the stuff then you have to pay for the stuff.

yes i have a credit card but its only for emergancy and paying for things on the internet not for paying for the latest gadget or fashion statement

i agree that this is theft, you decided to buy the object then you need to pay the price for it, you where not forced to buy it, the whole purchase was your choice
 
I totally agree with Weezy, Maisy etc. It is theft, &amp; nothing but, to do this. How can you possibly think it is acceptable to go out &amp; spend money on things services YOU have used, that YOU have chosen to spend money on &amp; then expect somebody else to pick up the tab.
People talk about how the banks have been bailed out, but apart from the ones that have been nationalised they have to pay back the money. By your ethics they could just turn round &amp; say" shan't". Same difference as far as I can see. I don't know anybody who is doing this but if I did I certainly wouldn't lend them so much as a bus fare once I had seen their attitude to their debts.
 
Much as I would like to write off my credit card debt (couple of hefty vet bills have given it a hammering
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), I agree with thos who say this is encouraging people to take no responsibility for their spending, which is why so many are in trouble in the first place. I am all for getting unfair charges removed, Martin Lewis is my guru
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, but if I have spent on my credit card it is my choice so I shouldn't be able to look for loopholes to dodge paying it off.
 
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Its their own damn fault IMO theyve been throwing money at people for the last few years they are the ones that have been irresponsible , they cant start shouting about their customers bailing out when they have had to be bailed out with our money

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Yes obviously the banks fault. Nothing at all to do with people taking responsibility for their actions.
Grow up!
 
This could actually help my sister though. Her Mother-in-law stole her credit card, changed the address on the card so the statements stopped going to her house and racked up thousands of pounds worth of debt on the card. My sister is now liable for paying it off. The police won't get involved and Halifax say it's my sisters fault as she is related to the person that stole the card so she isn't protected by identity theft rules.

What does she need to do or contact to get this sorted?
 
To be honest, i dont have an ounce of sympathy for the banks or credit cards. They have ruined too many peoples lives for me to feel sorry for them. I was speaking to a lady yesterday who is getting divorced, she has 3 kids and got in a pickle after her husband left her leaving her with 5 credit cards, she cant get a job as she was a housewife, has little or no skills to get a good paying job and if she did find a job she would have to put her 8 month old baby into a nursery, some of you might say so what, but if were getting moral about this, why have a kid for someone else to bring it up..just an example, i havent spoken about my morals on either issue, im not going to. But the country is in a state, a resession, people cant afford to buy food never mind pay huge credit cards. IF you are in that sort of situation, would you rather have a not so favourable credit rating for a short time but be able to breathe or be forced to live looking over your shoulder. Bankruptsy stays with you for ever, it may get dropped after a while, but it will always be there. I know someone who has 4 credit cards and they are writing off 3, to keep one just in case of emergency.
Got to shoot out for now but will add more later, those of you taking the moral high ground, thats your choice, think what you will, but its happening in this country whether you agree with it or not.
 
Why should people who are responsible with money subsidise the one's who are irresponsible with it.
We didn't go out or have a holiday for 3 years to save for the deposit for our first house.
It's hard for people to stay out of the red but most people manage it.
In the long run this is why we are in the financial mess we are now.
If i can't afford something i save for it. I don't think "ooh my Credit Card will pay for it".
It's our savings in the banks that are going to pay for your debt.
You should pay back your debts honestly.
For goodness sake grow up.
 
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This could actually help my sister though. Her Mother-in-law stole her credit card, changed the address on the card so the statements stopped going to her house and racked up thousands of pounds worth of debt on the card. My sister is now liable for paying it off. The police won't get involved and Halifax say it's my sisters fault as she is related to the person that stole the card so she isn't protected by identity theft rules.

What does she need to do or contact to get this sorted?

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Whoa - I'd be very careful using these loopholes to sort that situation out. If she does that she's effectively claiming it as her debt and if she loses the case she then has legal bills AND the debt to pay.

I'm not quite sure why the police aren't interested. However, have the Halifax shown her a copy of the instruction to change the statement address, was it signed? Did she, prior to her MIL getting the card, pay all the balance off each month?
 
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This could actually help my sister though. Her Mother-in-law stole her credit card....

What does she need to do or contact to get this sorted?

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Go to the Citizens Advice Bureau. They should be able to give you help, or at least point you in the right direction.
 
They've tried everything to not be liable for the debt. The change of address was done over the phone. They hadn't used the card and the husband had thought he had cancelled it, so that was why they weren't surprised at not getting statements. The police will not get involved. Halifax know they have no chance of getting the money out of the MIL so have gone after my sister as she owns a house. I'm sure if it was the other way around then they would have decided that the MIL was liable.

Unfortunaltey the MIL is a professional con artist and is very good at stealing money in other peoples names and never getting in trouble for it. Family.
 
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