anyone here had their credit cards debts wiped as advertised?

It'll say something like they reserve the right to change it, but it won't have a maximum/minimum on. As if they'd be silly enough to do that.

 

Hmmmm

Just balance transfer it or pay it off then I suppose.

T'is a bit naughty but I suppose interest rates change with mortgages etc and in general in the economy.

If certain companies did that all the time they'd never get any custom.

 

RE: Surely it must be written into the credit agreement

They send you emails changing the terms and conditions regularly. They send them so regularly, and usually of so little consequence, that they don't get looked at properly when it really matters.

 

As far as I remember the credit agreement got thrown 6 years ago when I moved house. I think the main point being that as base rates came down from 6% to 0.5% you would have thought the last thing a credit card company would need to do, is double their interest rates. As far as I'm concerned Egg are a bunch of thieving cu*ts and deserve all that comes to them. I doubt there are any loopholes, but good luck to anyone that finds them.

Fortunately, it gave me the kick up the arse to get back on top of my finances and my credit rating meant I was in a position to do it. My guess is many of their customers won't be, it's very difficult for people to consolidate at the moment, due to the instability of the labour market.

 

Get on...

www.moneysavingexpert.com

Go on their forums. They'll be of more help to you and there'll be more people trying to do the same.

People won't just post whingeing about the fact that someone completely unrelated to you posted moaning about foreigners either.

 

RE: Get on...

seems like someones hit a nerve.

 

Well...

Someone posts asking for some guidance because they feel they've been hard done by, then people just say he's what's wrong with Britain, not the foreigners someone else was whingeing about.

If you've got nothing constructive to say to the guy, what's the point in saying it? I'm sure he didn't post it to be abused. Fair enough if it was him moaning about folk with vouchers or whatever, but it wasn't, and he wasn't calling people chocolate faces either, so how's about cut him some slack...

 

wat firm is that?

 

Hard done by?

Where does it say that?

The problem is that these dodgy lawyers/claims companies are always looking for loopholes in the law/contracts or whatever to try and make a load of money from people.

From what I read, my assumption is that he spent the money and knows so perfectly well, but has heard these radio/TV ads and wonders if he can join the bandwagon and try and get away without paying it back.

I know what it's like as I deal with such people every day.

If in this case there has been an injustice, fair enough, but that was not mentioned in the initial post.

 

RE: Hard done by?

I base that on further down, where he's stated that his interest has doubled. I'd feel hard done by if I was him anyway. I wouldn't be finding a way out of paying back the capital if I was in a position to, but I'd be trying to find a way to do something about such a stupid increase in the interest rate.

As you know, I do agree that if you've borrowed money you should pay it back. That's what got us into the "credit crunch" in the first place.

 

He says it was a loan from 2005 though

That doubled the interest rate, so nothing to do with the credit card debt.

Just because one company screws someone over (apparently) re a loan doesn't mean all their credit card debt should be wiped out.

 

via Cartel.

 

RE: He says it was a loan from 2005 though

"One of these credit card companies decided to double the interest rate on my debt overnight"

I'm guessing it's this one he's trying to do something about. I don't know the guy though, so I don't know how many credit cards he's got, or how much he's trying to claim back.

I suppose it's the same attitude as those on the dole, who then go to claim disability and everything else, when there's nothing wrong with them; If you can get the interest wiped off, then try to go a step further and wipe off the capital.

Still, I don't think telling him he's what's wrong with Britain is going to help, especially when it's all anonymous and he might not know anyone on here. I generally don't care what people who I won't meet think about me.

 

But your natural and first inclination

Seems to be to stiff them by "gettting out of the debt" rather than transfer the debt to another provider and pay it off.

No-one holds the banks in high regard, but the current issues were caused in large extent by "toxic debt" i.e. debt which won't be repaid by defaulters.

those who would rather take a convenient "voluntary arrangement" rather than pay for the holiday / tv / etc that they so desparately wanted, are part of the cause of the current problems, and many people on here have paid for other peoples TV's and Holidays with their jobs.

 

RE: He says it was a loan from 2005 though

Cheers for those of you who have seen my point of view. I honestly had no idea people would have such strong opinions in defence of banks. It doesn't bother me that people disagree with the principle of writing off a debt but to align me with scroungers and 'foreigners' (nice) is offensive and bizarre. I don't have any qualms about paying the money back I owe in general. I understand that credit card companies have the right to review their terms, but seeing as these are not loan sharks but mainstream companies, I'd like to think that most people have faith in companies not trying to completely rip people off or raise rates unreasonably and the government overseeing that. My repayments went from 30 0dd pounds a month to 60 odd from one month to the next- in a time, as has been pointed out when interest rates plummeted. IE- it is ME who is paying for the mistakes of financial institutions as they try to claw their money back. I have a good job in the public sector and have always paid my way. I find the notion that I should not look at ways of clawing money back in kind because of 'honour' whilst paying double my original agreement hard to justify given the reasons for that increase.

Thanks for the advice, people.

think i'll stick to football on this forum. You reds!

 

I agree

No need for such comments.

I simply expressed an opinion on the matter and the likelihood of succeeding in getting the debt written off from what I understand, though without knowing specifics.

 

true, and i respect your opinion, if i disagree

 

My only point was to cut the guy some slack...

Si thi on Saturday

 

RE: He says it was a loan from 2005 though

Did you try moneysavingexpert? There's a lot of folk on there who know what they're talking about money-wise.

There's also a lot of tight arses on there who would sell their grandparents for 20p, though...

 

feel like i've asked where you can get an application form to be an MP from! nt