Could you write off your personal debts?
Some mortgage, secured loan, credit cards and car finance contracts may be invalid, un-enforceable or fundamentally flawed. The contract you signed when you took out your credit card or unsecured loan could prove to be unenforceable, enabling us to totally write off the balance.This means that you may be able to become debt free, even if you are currently unaware of these flaws.
> How do I find out if I am entitled to compensation?
> What if I no longer have my credit agreement?
> I am interested in this, what happens next?
> Which credit agreements are eligible for FGFS to help write off?
> Why do you charge an upfront fee?
> How long will itake to write off my loan?
> Will my lender chase me for the money or take me to court?
> Will using FGFS to write off my loans hae a effect on my credit rating?
> Will I still be able to take out loans in the future?
How do I find out if I am entitled to compensation?
Contact us now and we can advise you.
What if I no longer have my credit agreement?
You don’t need to have your original signed agreements. Under current powers, we can request copies from your lender (s).
In order to request the copies of the agreements then you need to write two cheques, payable to your creditors.
One cheque for £1 and the other cheque for £10, the reason for the two cheques, is because there are two alternative legal procedures that we can follow to obtain the required information.
(so a creditor will charge either £1 for a CCA request for a copy of an agreement, or they can charge £10 for a copy if we have to make the request using the Data Protection act ) A proportion of this fee might be returned to you, but that is dependant on how much your creditor charges to copy your original agreement and send it to our financial advisors.
I am interested in this, what happens next?
We will need a few simple details from you regarding your credit agreements etc. Once this is completed over the phone then we will send you a care pack, this will include more details on this service and it will include a “Letter of Authority”.
You will need to read through the care pack, sign the Letter of Authority form, and return it in the post with your creditor’s details . Send us your details and we will call you back
Which credit agreements are eligible for FGFS to help write off?
Any credit agreement that is governed by the consumer credit act 1974 , ammended by the consumer credit act 2006 including
- Credit cards and Store cards
- Personal loans
- Secured personal loans
- Unsecured personal loans
- Consolidation loans
- Car loans finance agreements
- Hire purchase agreements
Why do you charge an upfront fee?
This fee covers the administration costs and the audit fee to assess whether your credit agreement is unenforeceable
How long will itake to write off my loan?
Once our team have assessed that the loan is unenforecable, it will take them about 6 to 9 months to arrange for your lender to completely write off your loan.
Will my lender chase me for the money or take me to court?
It is best if you continue to make the minimum required payments on the loan until we contact you to confirm the loan has been written off, if you do not it is likely that your lender will consider taking action against you and this could affect your credit rating.
Once our team has taken on your case the loan agreement will be in dispute, in which case you should redirect communication from your lender to us.
Will using FGFS to write off my loans hae a effect on my credit rating?
Will I still be able to take out loans in the future?
Your credit rating will not be affected, and you ability to take out new loans will not be impaired - although it is possible that the lender that has just written off your loan may choose not to offer you another loan.
This is NOT Debt Management, a Loan, an IVA or any form of bankruptcy, it is 100% legal and is using the law to ensure that you dont suffer as a result of loan companies failing to comply with their legal requirements.
