Writr off legally unenforceable credit card balance (advert)

[dicko45]

There seems to be an opportunity, as advertised on Smooth FM in the North East, to challenge the validity of credit card contracts and to obtain refunds of repayments made and to cancel any balance outstanding. This involves payment of a substantial sum up front. The agency takes a total of 30% as a success fee, and this includes the �495 upfront deposit. Apparently there is a common failure of these contracts to comply with Consumer Credit Act (1974?). Is this a legit operation or another scam? Can this be true?

[Buenchico]

I used to work, on a self-employed commission only basis, for a firm which claimed that it could get traders' business rates down. The firm based its claims upon the fact that some business premises had been wrongly assessed and successful challenges had been made to their rateable values. They always omitted to mention that were only a small minority of business where people had got their rates reduced. (They also led people to believe that all of the successful challenges mentioned in their literature came about through their services. In fact, most were through rival companies or the result of direct appeals by business owners).

The firm charged an up-front fee, which it deducted from the 25% cut it took from any rebate obtained. They promised that they'd return the up-front fees if they couldn't get the rates down. (Is this starting to sound familiar?).

A short while after I ceased working for them the firm went bust, taking all their clients' deposits with them. So, having read that, do you really feel happy about parting with nearly �500?

If you're in a position to reclaim money from your credit card lenders, you can do it yourself. See here:
http://www.thisismoney.co.uk/reclaim-credit-ca rd-charges
and here:
http://www.moneysavingexpert.com/reclaim/credi t-card-charges

Chris

[themas]

Chris - I hope you weren't working for those sharks for long!

The question seems to imply that it is not only charges that can be recovered, but the actual payments - & that the balance can be written off.

I know nothing about this so called opportunity but cannot think it is anything other than a scam. If it was true, then it would mean thousands if not millions of people had unenforceable credit card contracts, because the forms are standard ones used for many many applicants. Steer well clear.

[Fay Mousse]

Of course it is a scam. Give me �495 upfront and I'll prove it.

:)

[dicko45]

THANKS FOLKS. Thought so but it's easy to want to feel it would work if you need it to be so. It did seem too good to be true. Thanks for confirming it.

[Craney]

Fay Mousse is wrong, although I agree when someone asks for �495 up front I would be very wary. I know the company you are talking about because I almost went with them, but they lied about a couple of things to try and get me to go ahead (Telling me their prices may be going up next week etc etc) and this made it hard to trust them. They also said they could back the payments I had made which I found to be untrue from the company I eventually used.

Anyway I went with a company called Moneyline who only charge �35 up front, and they got rid of my �12K Alliance and Leicester card. I had to pay them 20% (�2416) but I'm up �9600 on the deal...... they have a website now too www.moneylineservices.org

Good luck, let the forum know how you get on just to silence the skeptics!

Best of Luck

[helm0c1]

It is very true that you can have your credit card balances wiped off. A few of my friends have done this and had reasonable success. One have had 4 of their 5 cards cleared and another friend has had 2 of their 4 cards wiped out.
Beware of the companies that take a percentage of what your overall winnings are. One story I heard was that someone had �20,000 worth of debt written off by the CCard company however the Solictors/Credit Agency that she used still wanted their 30% (�6,000) for winning the case. She didnt have the �6,000 to pay them. What happens is that the credit card company closes the card account down completely, so you then have to find the money to pay the agents you use for their cut. Sometimes its a bit of the catch 22 situation.
Never go with companies that want to take a percentage of your winnings. The company Im using and the one my friends used only charge you up front fee's �400 for the first credit card and �195 for each thereafter. The solicitors claim their fees back from the credit cards in court.