How You Can Write Off Your Credit Card and Loan Debts

Are you being crushed by the credit crunch? Don’t panic. Financial help is now at hand in the form of a NEW financial claim which is set to sweep across the UK! You can write off your credit card and loan debt. It is not a scam as some people think. The banks have seen it coming for many years which is why some lenders have set aside a large amount of funds to pay for all of this. Don’t worry about the banks though. As we have all seen in the media lately the banks are not short of funds. They can afford to pay their Directors well for the services they have provided. But they cannot it appears adhere to the law in the manner in which they draw up the finance agreements we sign. The law which was designed to protect us the consumer.

So how is it possible to write off the balances on your credit cards and loans you may be asking? It is now thought that 80% of credit finance agreements such as those for credit cards, store cards and cars are legally flawed and so invalid and unenforceable! Some lenders have been taken to court and been forced to write off the debts and in some cases been made to pay compensation. These debts can be legally written off by carefully examining or auditing the credit agreements to establish if it complies with the Consumer Credit Act of 1974 . If it doesn’t then you will be able to make a claim through your solicitor to write off the debt. It is not a debt management programme, IVA or bankruptcy. So what is the process? It is simple and easy.

Firstly, with your signed permission your solicitor will request your credit agreement from your lender. Secondly, the agreement will be carefully audited for breeches in the terms and conditions of the consumer credit act. Thirdly, if breeches are found which is usualy the case, the solicitor writes to your lenders and states your claim to write off the credit card debt on your behalf. All this is carried out on a no win no fee basis and you don’t have to pay ANY back end fees and you keep all your compensation if awarded.

Article Source: http://www.debtfinancearticles.com.

About the Author:
This article is written by Julie Ashton who is a debt expert.