Frequently Asked Questions
- Is it real?
- Yes, in fact the first case was successful in 2003 with the ruling on unenforceable contracts made by the House of Lords. The Office of Fair trading deemed that many of the terms and conditions contained within agreements for credit cards and personal loans were unfair, therefore the contracts were unenforceable. This gives the lawyers at Credit Issues the ability to clear the balance on credit cards and personal loans.
- Is this legal?
- Of course! In fact a large portion of our partners company, Credit Issues Ltd, is owned by a team of Consumer Credit Lawyers. The process of writing of the balance is a legal one so who better to have processing the applications than lawyers!
- Is there a risk?
- No. Each application will be completed by an Authorized Representative of Credit Issues Ltd, they are fully trained and able to answer the more detailed questions you may have. There are a signification number of processes at application stage that can identify if a case may or may not be successful.
- Will it negate my card/loan account?
- Once the balance of your card or loan has been cleared then it is highly likely the lender will close your card or loan account. However there is nothing to stop you from opening another card or loan account with different company.
- Will this affect my credit rating?
- No! Nothing that happens in the process will have a negative effect on your credit rating. In fact once the card or loan has been cleared any record of it will be removed from your credit file. It is not possible for anyone to see from your credit file that you have successfully cleared the balance of your card(s) or loan(s).
- What happens when I apply online?
- Your online enquiry will be passed to one of our specialist partner consultants who will contact you and arrange to complete your application. You will be fully informed as to the progress of your case every step of the way.
- How do I know I am getting the best advice?
- Our specialist partner is regulated by the Ministry of Justice, they have specific rules and guidelines that must be followed on each and every case.
- Have I got any alternative route of redress?
- Yes, you could approach the Financial Ombudsman.
- How much does this cost?
- There is a very simple charging structure:
- 1st credit card/loan - £450
- Subsequent cards/loans - £150 each
- Max. £1000 success fee – payable upon successful claim
- Will I need to go to court?
- It is very unlikely that you case will ever go to court, most lenders agree before we commence court action. In the event of your case progressing to court our specialist partner lawyers will attend for you.
- Can I keep using my card?
- No, once we have agreed to take your application we strongly advise that you do not continue to use your card, doing so may affect the ability to successfully complete your claim.
- Will I be able to get another credit card or loan?
- Yes, nothing we do in the process will affect your ability to apply for another credit card or loan with a different lender.
- What is the current success rate?
- Our specialist partner lawyers are currently successful in over 90% of applications.