You may be surprised to learn that some credit agreements from the banks are unenforceable in one way or another.

The Consumer Credit Act of 1974 insists upon strict terms and conditions that must be written into the contract that you have signed. For example, the interest rates must be clearly stated and correctly calculated, and often this is simply not the case. In some cases these agreements aren’t even signed!

You can write off your debts and claim compensation on anything from credit cards, credit card fees, secured and unsecured loans, bank charges, store cards to your mortgage, and payment protection insurance plans. PPI.

If you’ve taken any kind of credit agreement or loan before April 2007 you might be able to have the debt written off completely and legally by using a solicitor on a no win no fee basis.

Get your solicitor to request a copy of the credit agreement from your lender. This agreement will then be closely audited to see if it does in fact comply with the 1974 Consumer Credit Act. If breaches are found in the credit agreement, it may be unenforceable.

The solicitor will write to the lender on your behalf, so you don’t have to do anything. The process will take about nine months to a year depending on how long your credit company take to respond to the request for the documentation.

For far too long banks and credit card companies have taken their customers to the cleaners, charging ridiculous rates and exorbitant fees for late payments, reducing the credit limit so the customer now has exceeded their allowed limit and then charging another fee. On top of this, we pay even more yearly fees for the “privilege” of having one of their credit cards.

It’s your turn to see if you can write off your debts. It’s legal, fair, justified and could save you thousands of pounds. Use the law to write off debts and restart your life debt free, and free from the day to day worry that you can’t pay your bills.

This is not debt management, an IVA (Individual Voluntary Arrangement) or bankruptcy. These options may be useful if you find your agreements are not unenforceable. Debt management companies offer excellent and confidential advice to help you with debt and debt management of all kinds. Stop worrying and call today for peace of mind.

Ashton Field writes for Market Checker UK http://www.marketcheckeruk.com on a range of consumer issues including Debt Management Advice.
For free help and information on debt problems and solutions visit http://creditcardswrittenoff.com

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i have a $500 credit card debt with hsbc, they wrote it off as a charge off to a collection company. i know what that means and that they sold my account to this collections company. does that mean i cant contact hsbc anymore about making smaller payments or working something out. the collections company wants the whole amount. and im a college student full time and working, there is no way i can make the whole amount.

Attempting to pay off debt during a depression will require you change your thinking from “traditional” to “survival mode” and learning to work with what you have. Consider your situation, decide on a plan of action then do it and remember it can be done!

Consider a worst case scenario of being unemployed, little or no savings, bills piled up, creditors ringing the phone and collection notices in the mail box is a great place to start. Actually this is the case for millions of unemployed who found themselves in Neverland.

You arrived in Neverland because the banking system and huge corporations made a “debt trap” that captured most of the population in a never ending cycle of paying debt. The trap worked so well it toppled Wall Street and brought the economy to its knees.

The Tinkerbell effect was set in motion and the biggest government bailout in the history of the world was launched to save those that were “too big to fail.” Even in a fairy tale you would not expect top executives to be awarded millions in bonuses for their harebrained schemes that ruined the economy but it happened.

What magic would Tinkerbell come up with to turn a “pink slip” into a way to pay? She would undoubtedly pull out an old book called the Fair Debt Collection Practices Act where all the secrets that protect people against banks and their darker counterparts, the debt collectors are hidden.

Since banks do not actually lend money on unsecured accounts they lose nothing when you stop paying on credit card debt or other unsecured loans. After six months of not paying they write off your account, take a tax deduction for their alleged loss and then sell your old account information to a debt collector.

A debt collectors job is to “huff and puff and blow your house down” but the only way he can accomplish his mission is with a contract. He will try to get you to “admit” that you owe him money and your admission will create a contract.

When a collector calls on the phone he will be trying to get an admission from you that you actually owe him money so say the magic words “communicate with me in writing only” and hang up the phone and absolutely nothing else!

After you have beaten him on the phone he will send you a “trick” collection notice saying you “must” notify his office in writing or he will “assume” the debt is valid so you must send him a magic letter that demands “proof” that you owe him anything. Be sure to keep copies and send it by registered mail with return receipt.

You can beat the nightmare of trying to “pay off debt” by taking action to make the magic happen. You can live happily ever after or you can do “nothing” and let the boogie man come after you. It is more blessed to give than receive so give him your pink slip and tell him to “have a nice day.”

If you would like more information please visit http://creditcarddebtprotection.com/ and down load the free e book Control Your Creditors to begin educating yourself with the wisdom to stop any debt collector in his tracks. Find out why collectors will gladly accept 10% of what you owe just to get rid of you or go away altogether. Learn the secrets to improve your credit score 60 to 120 points after you stop paying and learn money mastery for life to stay out of the debt trap forever.

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