Debt questions from around the world, helping each other by giving and receiving advice on UK based debt.

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By samuel99
#205664 Hi,

I have been surfing the net , and came a across a site that claim they could wipe out your debt , not by the normal IVA or DMP but through a claim that the "Credit Agreement" that you signed has flaws in it , thus being able to make the debt void and clear.

Is this legit ? has anyone heard of this before, they charge quite a fee upfront we makes me a bit dubious ?

Any thoughts appreciated
User avatar
By deej
#205665 anyone can ask for a copy of their credit agreement for a fee of just £1.
If the creditor does not have a copy, or the agreement is missing vital info such as the APR, signatures etc then it is unenforcable.
These companies are charging for what the consumer could do themselves if they wanted to.
These companies always seem to pop up when times are hard and people are struggling with debt, so they can take advantage and make loads of money.
Last edited by deej on Thu Nov 13, 2008 4:00 pm, edited 1 time in total.
User avatar
By Yogi Bear
#205668 Yeah, this particular practice (amongst others) was featured in Monday night's Panorama programme. There's an interesting little article here about the couple who did this, and about what happened to them!
http://news.bbc.co.uk/1/hi/magazine/7716021.stm