Don’t Give Up

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Wednesday, July 1st, 2009 Subscribe To Our Feed

In the words of the Peter Gabriel/Kate Bush song!Debt management company Credit Issues recent run of successes in challenging credit card and personal loan balances through the mechanism of requesting “true copies” of the original credit agreements has proved an effective approach. Recent rulings by various District Judges throughout the country have validated that strategy.In most of the successful cases to date, those “true copies” are simply not available and with no documentation forthcoming, a positive outcome for Credit Issues’ clients challenging the entire balance (whether they are being pursued by the original lending institution or by a debt collection agency) is highly likely.

After Credit Issues have carefully ensured your case meets the qualifying criteria, they then request “true copies” of the original agreement from your lender.But what happens if that agreement actually does arrive as requested? Does that mean your chances of challenging the debt have gone? Not necessarily!Credit Issues recently negotiated a reduction of 75% in a major Visa credit card balance on behalf of a client in just those circumstances.

Intense scrutiny by Credit Issues experts revealed that the agreement incorrectly stated the APR. Following a without prejudice (off the record) offer by Credit Issues to the lender, a reduction in the balance outstanding from £12,300 to £3,000 - a saving of over £9,000 – was agreed, much to the client’s delight. The credit file will be recorded as “partial settlement” which the client is also pleased about. So even if all seems lost, don’t give up on challenging debt through Credit Issues. They will only take on your case if they genuinely feel there is a good chance of success on your behalf.

Unlike some other debt/claims management companies that have jumped on the bandwagon, if their legal experts say your case isn’t strong enough, they’ll tell you so! But such is the skill, expertise and experience of their in-house legal team that, if there is a way of successfully challenging or reducing your debt, they will find it.

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