Is this right?

[MustGetStraigh]

If I've posted to the wrong bit, please move it/let me know!

I'm pursuing UE - and getting some success, thanks to Niddy and all his help.

I've just found out that someone I know is also pursuing UE but through one of these firms that charges £395 per card up front. She has been assured that going through this process will not affect her credit rating (as yet they have not defaulted on any card but they are struggling to keep up with payments). She's also been told it's backed by insurance (now that bit I can't work out) and if they aren't successful she'll get her £395 back).

They will need to remortgage soon and credit rating is therefore important to them. I am not sure what they have been told by this company is right.

Is she being led up the garden path?

[Paul.]

Re: Is this right?

if she is going for a "write off" as many describe it, then i would expect it to affect her credit rating for sure.

The Courts seem to follow McGuffick v RBS even though it didnt address irredeemable unenforceability but only unenforceability as a result of a breach of s78(1) or 77(1) etc

If your friend needs her mortgage, then she would be wise to consider her position

I would also suggest looking at the contract, and see what clauses there are for her to terminate. if she paid via her card, then s75 Consumer Credit Act 1974 may assist her to recover the money she paid, if the company will not refund it.

I cannot say if she is lead up the garden path however, as all the facts are not here, really would need more info on what she was told, terms and conditions etc

[MustGetStraigh]

Re: Is this right?

Many thanks Paul.

She's being advised by her financial advisor to do this, and is using a third party company who's pursuing this for her - for a hefty fee. I am really concerned as I can't see how she can pursue UE without affecting her credit rating.

I did advise her to double check the credit rating point, which she is going to do.

[enoughisenough]

Re: Is this right?

Mmm... I'd go with your gut feeling here - these seem like a bunch of cowboys... (INSERT IMAGINARY COWBOY SMILEY HERE)

[Never-In-Doubt]

Re: Is this right?

They will need to remortgage soon and credit rating is therefore important to them. I am not sure what they have been told by this company is right.

Is she being led up the garden path?

Jesus get her out of this mess asap - course it affects her credit rating, read the McGuffick case - if she does not pay then she will be defaulted LEGALLY, LAWFULLY AND RIGHTFULLY. Anyone who claims such nonsense should be lined up and shot through the skull with a single bullet.

Please name and shame the firm and i'll email into them and remind them of their obligations and the whole load of shit that has been spouted about as a result of MoJ intervention.... they cannot do this - its goddam illegal.

Please tell her to get the hell out and get a refund, £395 per card - fcuk me, i'd be rich if I done this, in fact i'd be living in barbados already!

Jesus, some people just don't learn (nor read the news/papers etc).... ;Spank

[Never-In-Doubt]

Re: Is this right?

See this: http://lmgtfy.com/?q=moj+misleading+claims

And this is the 200th closure report here - says it all, they have closed 200 firms because of similar lies!!

http://www.claimscouncil.org/news/2010/ ... laims-firm

[MustGetStraigh]

Re: Is this right?

Thanks Niddy

I thought it didn't sound right at all.

She thinks it's legit because her financial advisor is using the same firm to deal with his cards!!

I'll be ringing her in the morning!

Many, many thanks. Let's hope she can get out before any damage is done.
I'll find out what the name of the firm is, too...

[Never-In-Doubt]

Re: Is this right?

as she bought over the phone, distance selling regs protect her for cancellation rights so long as she gets her finger out and does it before 30 days (lets hope its not too late)... they will then HAVE TO refund her.

If she has no joy i'll sort it for her and only charge her half the amount, plus what - £50 for each refund I get?

sorry for the sarcasm, I just thought she'd be easy pickings cos she must be rich to pay that amount of money out!!!!

LOL - to newbies, the above is my sarcastic humour - Niddy is 100% free - always!

[MustGetStraigh]

Re: Is this right?

as she bought over the phone, distance selling regs protect her for cancellation rights so long as she gets her finger out and does it before 30 days (lets hope its not too late)... they will then HAVE TO refund her.

If she has no joy i'll sort it for her and only charge her half the amount, plus what - £50 for each refund I get?

sorry for the sarcasm, I just thought she'd be easy pickings cos she must be rich to pay that amount of money out!!!!

LOL - to newbies, the above is my sarcastic humour - Niddy is 100% free - always!

The firm is Knightsbridge Claims Management - she's ringing them to double check about what she's been told about her credit rating not being affected. Will let you know what they say.

[Never-In-Doubt]

Re: Is this right?

Why? Tell her to ring and tell em to fark-orf.

Surely NOTHING would make her want to proceed when you're doing a better job for free? I've told u the law, mcguffick case proves it so why check? She's mad lol. Please don't get her joining here - I've no time for fools that don't listen. As for her IFA - he needs a slap. Plus an IFA cannot be in debt so if I was her I'd have jumped ship ages ago!!

What are they, del boy trotter and rodney?? Hehe

[MustGetStraigh]

Re: Is this right?

I'm a bit bemused by the whole thing.

When we spoke yesterday, she was absolutely convinced that they must be legit because her FA is using them and he's an old friend of the family they've known for years. She's a really sensible person so they must have made it sound absolutely a done-deal, no risk etc. Her FA is using it just to wipe his card balances (surely he should know better?!?!?!?! He does sound like a right plonker).

I have said that as far as I can see, and with advice from people who really know about this, there is no way she can pursue UE without ruining her credit rating. I've also pointed out that lots of companies are being struck off for making claims about wiping debt so she needs to double check everything she's been told.

I'll find out tonight what the company have told her. I really hope she's going to walk away from this as it really stinks and I can see her losing her fees and her credit rating to boot.

Will keep you posted!

[Never-In-Doubt]

Re: Is this right?

Thanks for the update - you're spot on in your summary, i'll guarantee you 1 million percent that her credit rating WILL be trashed and so will her fee's - she cannot win, read the press, google it - nobody does! lol

That is why i'm here, doing what the CMC's do for free - however they send the letters on your behalf, whereas I let you deal with them. That is why a lot of replies from lenders mention the term "your client" cos they are pre-formatted for CMC's, not the individual user....

I may ring this firm now and have some fun with them - actually sod it, I will do.

I'll mention names, i.e. who I speak to, and what they say - then i'll rip them a new arse and see how they take it. I would record it and put the file on here but I do not want to get done, so for the moment will stick to type...

BRB.... watch this space! Thread here: ---> viewtopic.php?f=13&t=228

[MustGetStraigh]

Re: Is this right?

Thanks for the update - you're spot on in your summary, i'll guarantee you 1 million percent that her credit rating WILL be trashed and so will her fee's - she cannot win, read the press, google it - nobody does! lol

That is why i'm here, doing what the CMC's do for free - however they send the letters on your behalf, whereas I let you deal with them. That is why a lot of replies from lenders mention the term "your client" cos they are pre-formatted for CMC's, not the individual user....

I may ring this firm now and have some fun with them - actually sod it, I will do.

I'll mention names, i.e. who I speak to, and what they say - then i'll rip them a new arse and see how they take it. I would record it and put the file on here but I do not want to get done, so for the moment will stick to type...

BRB.... watch this space! Thread here: --->

viewtopic.php?f=13&t=228

Oooh I wouldn't want to be in their shoes

[Never-In-Doubt]

Re: Is this right?

So, she's decided to ignore my advice and listen to her IFA? Shame on her. Ok, well watch her get ripped off.

some people really are daft - oh well.

[MustGetStraigh]

Re: Is this right?

I know and I'm really dumbfounded. I think she's waved goodbye to £1200 never mind the risks of what it will do to her chances of getting a remortgage in a couple of years.

I'm sure the IFA is breaching his own code of conduct somewhere by recommending this sort of thing. Might ask a friendly IFA. Worryingly, he doesn't seem to understand UE or its implications, and can't see that this firm is making false promises. How many other clients is he recommending this to?

Is there a smilie for AAAAAAAAAAAAARRRGHHHHHHHHHH? Maybe this one: