Credit Card Write Off FAQ's

How does it work?

The Consumer Credit Act of 1974 allows borrowers to challenge unfair credit agreements. Credit Agreements up to £25,000 and issued before 6th April 2007 must comply with the terms of the Act. Most UK banks and lenders have not followed their legal obligations under the Act over the years. This means that your credit agreements may be legally unenforceable. Recently, a high percentage of those agreements that have been challenged have been found to be unfair and unenforceable. The result is the debt can be written off as it cannot be collected.

Solicitors manage every case. We take details of your debts and our specialist legal team challenge the agreements with the lenders. They obtain documentation on your behalf and then verify the legality of the contract. Our legal team will then, via specific correspondence, prove that your agreement is not valid. As it is unenforceable, they will require the card company to write off the debt. In any event you do not have to pay anything further as the agreement would be unenforceable.

Our Debt Write Off Pack contains all the information and documents you need. You can request one from our web-site or by calling us on FREEPHONE 0800 043 0067. We can start your claim as soon as you return the required documentation and fee(s).

Is it legal?

Absolutely, 100% legitimate. If the banks and lenders do not follow the legislation, they are breaking the law. We use the law to protect YOU, the consumer. The banks and lenders, however, don’t want the general public to become aware that they may not have to repay their loans of credit cards.

In what circumstances do these agreements not comply?

Most lenders have not included all of the key points in their credit agreements. These are known as prescribed terms. In some cases, the lender may be unable to produce an original copy of the agreement.

How long will it take?

This depends upon various parameters. First, your lender must produce a physical copy of your agreements within 42 days of our request. If they cannot do this, they are in default and your outstanding balance can be written off immediately. This could be a matter of weeks. Second, the response times from lenders to our requests for information and confirmation that the debt has been written off can vary. Typically 4-9 months should be allowed.

Which type of debts can be written off?

Provided they were issued before 6th April 2007, secured or unsecured loans including consolidation loans, credit cards and store cards and car loans/finance, up to £25,000.

How much does it cost?

£125 fee is payable for each agreement scrutinised by our legal team. The success fee for writing off your debt is 12% of the total. For credit cards this is payable in four instalments of 3% of the total, the equivalent of making four minimum payments on your card(s). The same applies for loans. The success fee covers all legal costs associated with your claim.

Can I continue to use my credit cards?

NO. Using the cards may affect the process of getting your debt written off.

Should I continue to make payments to my credit cards/loans?

Once your claim has been accepted, you can stop making payments.

What happens if my lenders contact me after I start a claim?

Our solicitors will deal directly with your lenders. This should stop them contacting you to discuss the debt. If they do, you should not answer any questions or get into conversation but ask them to put any correspondence in writing. We might be able to use this to win your case.

Are there any adverse repercussions?

NO. It is highly likely that the lender(s) will close the credit card account, however, there are plenty more credit card companies available to you.

Can I do this if I have a bad credit history?

YES. Once we have helped you to clear your debts this will also help to clear your credit file as the debts will no longer exist.


Will my credit rating be adversely affected?

NO. Legally, once written off, the lender has to remove all trace of the account.

Does it matter if I’m already in an IVA?

NO. This is a separate service and does not affect any other actions that you may have started.

Can you help if my lender has a CCJ or Charging Order against me?

YES. If we believe that the credit agreement on which the judgment or order is based is unenforceable, then we can put that debt into dispute before getting it written off. As soon as the debt is put into dispute, all legal action against that debt is frozen immediately. This will give our specialist legal team the time they need to build a claim against that credit agreement. We can stop the CCJ or Charging Order and get it reversed by challenging the credit agreement on which it was based.

Credit Cards Written Off

Are your loans and credit cards unenforceable?
We can get you on the road to reclaim.
You might be abe to stop paying back your credit agreements and be due a refund of all or part of the payments you have made.
I myself have had £50,000 worth of credit card debt written off!
Help With Debt can check that your credit agreements comply with the Consumer Credit Act 1974.
WHY?
If a credit agreement does not comply with the Consumer Credit Act 1974 it may be deemed to be unenforceable.
Our solicitors can then act on your behalf to attempt to:
Write off any outstanding balance
Reclaim previous payments of interest and charges
We can audit Credit Agreements of up to £25,000 with a minimum outstanding balance of £5,000 for loans and £500 for credit cards including:-
Credit Cards
Secured Loans
Unsecured Loans
Hire Purchase
Consolidated Loans
Car Loans/Finance
Who Will Qualify?
Any individual in a credit agreement that is regulated by the Consumer Credit Act 1074
The Agreement must pre-date 6th April 2007
Loans to be between £5,000 and £25,000 and be on-going
Credit cards must have a limit of £25,000 and have a balance outstanding of £1,000
So do you have any agreements that we can audit for you? You could be within weeks of writing off thousands of pounds