Cartel and these type of companies
Discussion
So I get called from this company today (Cartel) who recon they will be able to wipe off my credit cards that I took out before 2007 using a loophole in the agreement that I signed originally. I've heard their ads on the radio.
Has anyone had any experience with this type of company? They want £500 up front, but recon it's on a no win no fee basis.
So other than them going bust, can I not lose?
Has anyone had any experience with this type of company? They want £500 up front, but recon it's on a no win no fee basis.
So other than them going bust, can I not lose?
Cartel are the biggest (and claim to be the first) of these companies. Run by a very slick lawyer, I think.
They claim that they will get the debt written off, and the agreement totally expunged form your credit file. i.e the debt never exisited. I'm not sure if anyone has tested whether the banks will be leaving a little mark on your credit file.
At the moment there is a court case going through about the legality of what they are doing, and all these claims are on hold I believe until the courts have reached a judgement.
You might like to double check the no win no fee claim too..... they do award themselves something like 20% of the debt they wipe out.
Oh and a number of these firms have been wound up as they have effectively taken the fees and then done nothing.
I have to say I am against these firms existing, on a "you took the debt, you pay it " basis.
They claim that they will get the debt written off, and the agreement totally expunged form your credit file. i.e the debt never exisited. I'm not sure if anyone has tested whether the banks will be leaving a little mark on your credit file.
At the moment there is a court case going through about the legality of what they are doing, and all these claims are on hold I believe until the courts have reached a judgement.
You might like to double check the no win no fee claim too..... they do award themselves something like 20% of the debt they wipe out.
Oh and a number of these firms have been wound up as they have effectively taken the fees and then done nothing.
I have to say I am against these firms existing, on a "you took the debt, you pay it " basis.
marshalla said:
That is related to the legality of them 'buying' the debt from the consumer, without permisson from the creditor. It is a legitimate company, Cartel seem to have had some success in getting these credit agreements declared invalid, in fact a number of these companies have popped up recently offering the same services.
My concern would be, as stated above, paying money up front (even though they guarantee refund if unsuccessful) going bust whilst holding your money.
There is a couple of companies offering this service with no fee upfront and they take a fee if they are successful in wiping the debt. If I were considering this, then I would be looking at one of these companies.
vinnie83 said:
marshalla said:
I would be looking at one of these companies.audi321 said:
vinnie83 said:
marshalla said:
I would be looking at one of these companies.vinnie83 said:
My concern would be, as stated above, paying money up front (even though they guarantee refund if unsuccessful) going bust whilst holding your money.
According to the BBC programme, 'Money Box'http://news.bbc.co.uk/1/hi/programmes/moneybox/856...
Cartel have now been order to stop trading so everyone that has paid a fee up front have lost out.............
Or have they?
Now how ironic is this. Apparently most people paid their up front fee on their credit card so they have been told they can claim the money back through their credit card company.
You couldn't make it up.
Gassing Station | Finance | Top of Page | What's New | My Stuff