Author Topic: some much advice which is correct  (Read 973 times)

nubian1712

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some much advice which is correct
« on: Apr 06, 2010, 09:00:32 PM »
I have only recently joined this forum, but on reading through it there is SO much conflicting advice....

for example:

Before you pay your debts back have them auditied to see if thepaperwork you signed is correct.  if it isnt then you could have thedebt classed as unenforceable!

Although this sounds great...it doesnt actually tell you how to go about it.

I have been sitting here for the past hour reading through previous posts by other members, there has been lots said about credit card companies acting illegally but no one ever goes on to explain it fully, how you go about get them to declare your debt is illegal...can someone please explain this to me, I have just about come to the end of my tether with my debts, some people are telling me not to pay, others saying pay...my  head is spinning.... :-\ :(

L-E-E

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Re: some much advice which is correct
« Reply #1 on: Apr 19, 2010, 11:24:36 AM »
Hi Nubian1712,
 
There does seem to be a lot of companies set up in the past 12-18 months who will look at this for you. A quick search on the internet will bring up plenty of companies who will look at this for you. Generally they advertise that they can help with credit taken before April 2007. There are many points that they look at. Two of them being;
 
1. If there was an admin error on your credit agreement i.e.; apr of 128.9 instead of 12.89
 
2. If the lender could not provide a signed copy of your agreement
(Point 2 has been dismissed by the courts.)
 
If you enlist the help of these companies the usual scenario is you stop paying the credit company whilst they look into the un-enforceability of your agreement. If they are successful they would take a % of the settlement amount.
 
If they are unsuccessful you would be left with the original debt plus any charges incurred whilst not paying the lender while your agreement was disputed (approx 6 months) plus any initial set up fees that are paid are usually non refundable.
 
 Hope this helps?
 
Lee

Sovereign

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Re: some much advice which is correct
« Reply #2 on: Apr 26, 2010, 01:12:32 PM »
Hi Nubian,
 
The general upshot is that these Companies that lay claim to debts being written off are bogus and you should avoid them. There are many debt solutions out there which you could consider and take advantage of where your monthly repayment will be one that you can afford and could be interest free. DO NOT borrow any more money as you will find this very expensive and the repayments could put you in a position from which you cannot recover.
 
Best wishes,
 
Steve
Sovereign Consulting