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Friday, February 13, 2009

Write Off Credit Card Debt

If you want to write off your credit card debt then here is the service for you. The service applies to any debt or credit agreement taken out before 6th April 2007 and relates to all sorts of loans and credit - that includes credit cards, store cards, secured loans, unsecured loans, hire purchase, car loans and any type of finance.

The proviso to write off your credit card debt is that the debt must be under £25,000 when the loan was taken out (actually this rules out certain secured loans, but we must also conclude that secured loans tend to be better drafted and would not fail the prescribed test - see below).

The so-called write off credit card debt loophole came about when the consumer laws which were originally laid down in 1974 were amended this century to make them more consumer-friendly. The result was that 7 out of every 10 credit contracts did not meet the new terms of the law which stated that all the relevant details should be displayed on the contract. And this is completely date-reversible! So suddenly all the loans and credit cards could effectively be written off as they are unenforceable.

If you want to write off your credit card debt see the site above for more details.

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