Debtfree

yardiom

would be nice if it really works, i need to look in to it

Tripleeagle

Nice one DebtFree! Keep posting

totalnet

Debtfree, are you still around?

I have just been researching this and have some questions.

Do you charge an upfront fee?
What are your solicitors criteria for acceptance?
Do they require sight of the CCA?
If a request has already been made for sight of the CCA agreement and the time for compliance has lapsed will they take the case on?
I thought CFA's were not allowed for this type of litigation. Is an insurance policy required?

For the benefit of CLH members, these are some of the questions I would suggest be asked before anyone considers going down this route

toja7ng

My girlfriend has a credit card of 3500 and i have one too 2050 can the both be dealt with and it wont get messy and how long will it take as well.
Regards

totalnet

Problem you have toja is that for any solicitor to take this on each debt needs to be over 5k so they can recover their costs.

Most of the companies offering the service are a marketing front. They charge a fee, most seem to charge £495 which takes the form of an assesment fee to see if there is a chance of you winning.

They then pass the case on to a solicitor who will get paid if they win if the dase is over £5k.

debbie leigh driver

has anyone done this??? how do you do it???

totalnet

Debbie, I's not quite as easy as it looks. There about 5 different ways that your credit agreement be it a card or a loan could be unenforceable.

If you check out the various money saving or debt forums available you will find instances of both wins and losses. A lot of the losses are where people have tried to do it themselves so the advice is always use a solicitor. However I would say that as I am a litigation lawyer by trade.

The credit agreement must be before 2007. The current wisdom is that up to 70% of agreements may be unenforceable for one reason or another. if the agreement is not enforceable the credit company cannot sue you. There are various outcomes but the desired one is complete unenforceability resulting in the debt being wiped and your credit file amended to show this, ie no enforceable agreement, no credit, so no entry.

You can request a copy of your agreement but unless you know what you are looking for then it could be dangerous to try to litigate on your own.

Again the forums will give you some idea but these should not be constituted as proper legal advice.

jon1708

if anyone is intrested I have a Cd explaining how this all works and we have managed to wipe out 4 Credit cards with MBNA

Debtfree

Hi everyone,

Following my first post I have been away so apologies. It is possible to eliminate the majority of cards pre 04/07 but as totalnet mentions above, very tricky as it is a complex area of Law.

We have a top QC on board now to advise and make sure we get 100% success on any claims accepted by our panel of solicitors.

Our firm will only take on cards that meet the following criteria:
*Card must be pre April 07
*Client must have had at least 2 late charges at any point
or...
*Client must have Payment Protection Insurance on them
and finally,
*Current Balance to be over £2500.

to answer further questions above;

Do you charge an upfront fee?
A fee of £295 for first card and £195 for subsequent cards is payable when one of our solicitors reviews and than agrees to take on the case. Can be put on the card you are eliminating. Upon success, 20% of the eliminated balance is our fee.

What are your solicitors criteria for acceptance?

As mentioned, a complex area of law, but no charges are made until solicitor accepts to take the case on.

Do they require sight of the CCA?
For each application, a cheque for £10 payable to your appropriate provider must be enclosed. This is so we can obtain the CCA and all other documentation.

If a request has already been made for sight of the CCA agreement and the time for compliance has lapsed will they take the case on?

yes

Any more questions, please let me know.

regards

Debtfree