Author Topic: BEWARE- COMPANIES CLAIMING TO WRITE OFF DEBTS  (Read 2963 times)

FinanceActionMan

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BEWARE- COMPANIES CLAIMING TO WRITE OFF DEBTS
« on: Jun 13, 2009, 08:31:25 PM »
The ever increasing advert that has been promoted recently is the one claiming that debts can legally be written off. I would suggest these companies are to be avoided like the plague, and the Ministry of Justice (the people that regulate the claims industry) agree. They state many of these companies making claims like “up to 80% of loans have been mis-sold” are completely mis-leading. On the occasion that someone wants to write off a debt because a copy of their original agreement hasn’t been kept on file is ludicrous. If someone has knowingly taken out a loan, then it is their obligation to pay it back. And what’s more the claim handling companies that are jumping on the band wagon with these ideas are just earning a quick buck off their clients anyway. They often charge an up front fee with no interest in the claim’s outcome later down the line because they already have their money.

On the other hand if someone has been mis-sold a product, then it is only right that a refund should be given. An example of this can be seen with Payment Protection Insurance (PPI). PPI is extremely useful to cover missed payments in case of emergencies, however it is estimated out of the 20 million PPI policies in the UK up to 70% have been mis-sold. The Office of Fair Trading (OFT) and the Financial Services Authority (FSA), are carrying out investigations into underhand practices and high pressure selling tactics that have resulted in so many policies being inappropriate and therefore mis-sold. In this instance people should most definitely see if they can recover what they have paid, when it’s something that may not have covered them in the first place. There are a number of companies who provide this service and if you are looking in to it you should look at a company who doesn't charge an up front fee. There are many ways in which you can defeat the recession, claiming back your mis-sold ppi is by far the easiest and could be worth thousands to you.
Finance ActionMan
CHECK WEBSITE FOR ADVICE www.def

wrightey

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Re: BEWARE- COMPANIES CLAIMING TO WRITE OFF DEBTS
« Reply #1 on: Jun 19, 2009, 04:31:26 PM »
Interesting point of view.

Pressurelifted

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Re: BEWARE- COMPANIES CLAIMING TO WRITE OFF DEBTS
« Reply #2 on: Jun 30, 2009, 08:40:11 PM »
I agree I have had loads of companies claim this, but I am mindful of the results in the courts I saw when surfing the other night a man in Chester got back £15K from Halifax Bank.

But my mate said that the company helping him through has problem has shown proof that this works.



wrightey

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Re: BEWARE- COMPANIES CLAIMING TO WRITE OFF DEBTS
« Reply #3 on: Jul 01, 2009, 11:47:20 AM »
Yes I've seen lots of reports of people having a success with this.

FinanceActionMan

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Re: BEWARE- COMPANIES CLAIMING TO WRITE OFF DEBTS
« Reply #4 on: Jul 02, 2009, 03:38:40 PM »
There are lots of reports of success. Especially with claiming back Payment Protection Insurance. What I am advising is to steer clear of the companies claiming to write off loans and credit cards with an up front fee of £200 or there abouts. You will find in the future that the companies trying to write off debts without a valid reason (i.e saying they havent got an agreement anymore so the agreement is worthless) will soon find that solicitors will no longer take their cases. Many companies have jumped on the band wagon to try and make a quick buck. There are relatively few companies running a legitimate no win no fee agreeement to help claim back your Payment Protection Insurance. If your PPI is deemed to have been mis-sold then that is part of your credit agreement so therefore the loan has been mis-sold as a whole and can be legally written off.
Finance ActionMan
CHECK WEBSITE FOR ADVICE www.def