Hm, what do people think....

[moneymoneymoney]

[JRScott]

This is a US site for bankruptcy. I don't believe what you suggest would work in the US.

[Overmylimit]

I think what Money is reffering to is the fact that banks are not suppose to lend credit only money. I have read up on this and they claim it works but I haven't tried it. Basically there is an old law that states the above, so you or the company representing you sends the bank a letter telling them that since they are not suppose to extend credit that your balance is voided and you will take them to court if they fight it. Look it up on the net you will find it, it would be under something like "wipe out credit debt legally" you will see all kinds of sites for this.

[Flamingo]

I think what Money is reffering to is the fact that banks are not suppose to lend credit only money. I have read up on this and they claim it works but I haven't tried it. Basically there is an old law that states the above, so you or the company representing you sends the bank a letter telling them that since they are not suppose to extend credit that your balance is voided and you will take them to court if they fight it. Look it up on the net you will find it, it would be under something like "wipe out credit debt legally" you will see all kinds of sites for this.

Just another way for predatory companies to try to get money out of folks in financial trouble and not thinking clearly due to the financial stress...

[GreenInkOnPaper]

It's a British law: CCA1974