Credit Cards
30 December 2008, 09:59 AM
#1
Scooby Regular
Thread Starter
iTrader: (1)
Join Date: Jun 2002
Location: Northern Ireland
Posts: 2,432
Likes: 0
Received 0 Likes
on
0 Posts
Credit Cards
Is it true or has anyone had their balance on their credit cards written off due to mistakes in the terms and conditions of the contract.
Dont know if this is the case,but was out last night with a few friends and they were talking about.
Sounds a bit Bertie Bullsh1t to me.
Dont know if this is the case,but was out last night with a few friends and they were talking about.
Sounds a bit Bertie Bullsh1t to me.
30 December 2008, 11:07 AM
#4
Scooby Senior
iTrader: (51)
Join Date: Nov 2005
Location: Wherever I park my car, that's my home
Posts: 20,491
Likes: 0
Received 2 Likes
on
2 Posts
You can pay a 'no-win, no-fee' solicitor to check it for you, but I'm struggling to find out the info so I can go over all of my meticulously filed credit agreements.
Apparently this cover's car finance, bank loans, store cards, credit cards etc, and the bonus, not only can you get your existing debt written off, you get to keep anything you have bought using the credit and can even get a refund of all your payments
Sounds too good to be true, but if it is I'm up for a punt.
Apparently this cover's car finance, bank loans, store cards, credit cards etc, and the bonus, not only can you get your existing debt written off, you get to keep anything you have bought using the credit and can even get a refund of all your payments
Sounds too good to be true, but if it is I'm up for a punt.
30 December 2008, 11:51 AM
#5
Scooby Regular
Thread Starter
iTrader: (1)
Join Date: Jun 2002
Location: Northern Ireland
Posts: 2,432
Likes: 0
Received 0 Likes
on
0 Posts
On TV the couple had run up £120K of debt on cards and had all but £15K written off,which they were trying to get written off aswell!!!
30 December 2008, 12:07 PM
#7
Scooby Regular
Join Date: Jan 2007
Location: in the 80's
Posts: 347
Likes: 0
Received 0 Likes
on
0 Posts
If you borrow money you should pay it back, it's not like they tricked you, you knew exactly what you were doing. Do you think the banks write off the money? They recoup it by making their honest borrowers pay more.
Ignoring the moral issues, if you go for it don't expect be able to get a mortgage/loan/credit card ever again, and rightly so!
Trending Topics
30 December 2008, 12:36 PM
#8
Scooby Regular
Join Date: Sep 2006
Location: RIP Tam.
Posts: 5,108
Likes: 0
Received 0 Likes
on
0 Posts
It is not a hard concept.
Borrow money pay it back in installments with a fee for the payment being broken up into managable parts....
People who try to cheat the given system like that really make me sick, borrow it pay it back don't whine andtry to get out of it because a word is incorrect the principle is still what you agreed.
Borrow money pay it back in installments with a fee for the payment being broken up into managable parts....
People who try to cheat the given system like that really make me sick, borrow it pay it back don't whine andtry to get out of it because a word is incorrect the principle is still what you agreed.
.
30 December 2008, 05:57 PM
#10
Scooby Regular
Join Date: May 2008
Posts: 3,957
Likes: 0
Received 0 Likes
on
0 Posts
In answer to the ops question, yes you can get credit cards pre 2006 wiped under the Consumer Credit Act 1974 (Sections 77−79) if certain things are incorrect.
Section 61 of the consumer credit act 1974 states:
So A regulated agreement is not properly executed unless:
also 1983 agreements regs require two sigs
Signing of agreement
There is quite a bit more also but thats the jist of it
Section 61 of the consumer credit act 1974 states:
(1) A regulated agreement is not properly executed unless a document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60(1) is signed in the prescribed manner both by the debtor or hirer and by or on behalf of the creditor or owner.
(a) a document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60(1) is signed in the prescribed manner both by the debtor or hirer and by or on behalf of the creditor or owner,
(b) the document embodies all the terms of the agreement, other than implied terms, and
(c) the document is, when presented or sent to the debtor or hirer for signature, in such a state that all its terms are readily legible.
Signing of agreement
6.—(l) The terms specified in Column 2 of Schedule 6 to these Regulations in relation to the type of regulated agreement referred to in Column I (and no other terms) are hereby prescribed for the purposes of section 61(l)(a) of the Act (the terms which must be contained in a document if a regulated agreement is not to be improperly executed) and of section 127(3) (the terms which must be contained in a document before any enforcement order can be made under section 65(1), if section 61(l)(a) was not complied with).
(2) The lettering of the terms of the agreement included in the document referred to in section 6l(l)(a) of the Act, containing all the prescribed terms of the regulated agreement, and of the information contained in that document for the purpose of conforming to these Regulations shall, apart from any signature, be easily legible and of a colour which is readily distinguishable from the colour of the paper.
(3) The signature of the said document shall be made in the following manner
(a) by the debtor or hirer, or by or on behalf of the debtor or hirer in the case of a partnership or an unincorporated body of persons, in the space in the document indicated for the purpose, and, subject to sub¬paragraph (c) below, the date of the signature shall be inserted in the space in the document indicated for the purpose;
(b) by the creditor or owner, or by a person on his behalf, outside any signature box in which the debtor or hirer may sign and, subject to sub-paragraph (c) below, the date of the signature shall be inserted outside any such signature box;
(a) by the debtor or hirer, or by or on behalf of the debtor or hirer in the case of a partnership or an unincorporated body of persons, in the space in the document indicated for the purpose, and, subject to sub¬paragraph (c) below, the date of the signature shall be inserted in the space in the document indicated for the purpose;
(b) by the creditor or owner, or by a person on his behalf, outside any signature box in which the debtor or hirer may sign and, subject to sub-paragraph (c) below, the date of the signature shall be inserted outside any such signature box;
Thread
Thread Starter
Forum
Replies
Last Post
Mattybr5@MB Developments
Full Cars Breaking For Spares
28
28 December 2015 11:07 PM
Mattybr5@MB Developments
Full Cars Breaking For Spares
12
18 November 2015 07:03 AM