Does such a thing exist?

Can you really get your debt wiped?

Or is it a take on ?

Some can but according to feedback I've had most can't and as alot of the companies who run this "service" charge a fee to look at it for you i see it as preying on those who are just looking for the easy way out of a situation they got themselves in to.

didnt you do this one a few months back?
http://www.singletrackworld.com/forum/topic/scrubbing-old-credit-cards-due-to-unfair-credit-agreements

you're not on commission are you Joe?

I did some tosser keeps ringing me to try and get me to part with money I dont have!

Or you could take responsibility for your debts and not expect other people to shoulder them! Just a thought 😉

Credit card company in "we'd like you to pay back the money you borrowed from us" shocker!

why haven't you just gone and tried it if you think it could be a way of solving a problem?

You have spent other people's money.

Be man enough to follow through on your promise to pay it back.

If you cant afford it go under. As for the high and mighty knuckle head responses – if you've never made a mistake, you're wasting your life.

Suggesting Bankrupcy is the most knuckleheaded response so far.

That will take much longer to shake off than a few grands debt.

I'm with ^ them

(I harbour hopes that these "get you off" companies are a front to identify dodgy borrowers looking for loopholes & brand their foreheads accordingly)

Ah, the Daily Mail's arrived, gotta go ..

ScotchEgg – but if you cant afford it and don't take any action it wont go away – hence the IF you CAN'T AFFORD it bit… Knucklehead.

You didn't think to mention any action but bankrupcy; hence you aren't fit to offer advice. The abuse just underlines it.

Speak to your credit card folks if your struggling. Make an agreement to pay it off as you can afford. If you can prove real hardship they will suspend any interest. This will appear on your credit score, though.

The CAB will help with the legalities. All these dodgy companies can offer is the same legal avenues that CAB can. Except they will charge you for it. If you want to pay, you can't be that skint.

The CAB will give you a little advice then put you in touch with an insolvency practitioner, who will take a nice cut (if not all) of the money that you are able to afford. I speak from personal experience.

Not always they won't.

An Insolvancy Practioner sounds like the way into bankrupcy. There are options to explore before completely disconnecting yourself from all financial services. But if you want to go bankrupt, it's a way to do it, I suppose.

There is no reason not to get real advice from someone trained in the subject. Rather than cyclists 🙂

We all make mistakes, it is how you deal with them that gives you the measure of a man.

There are three options if you really can't afford to pay you debts, rather then just trying to pull a quick one to get out of them.

A DMP which is a voluntary agreement between you and all your debtors

A IVA which is similar but goes through court so you or your debitors can't pull out of it

or bankruptcy.

IVA's can be the worst possible solution if you really, really can't pay your debts. You end up paying out vast sums in IVA charges, the creditors hardly see a penny and you have hugely restrictive terms set against you.

If you are having serious problems then this forum is a great place for advice…
http://forums.moneysavingexpert.com/forumdisplay.html?f=136

Whilst its good advice to take responsibility for your actions and of course it is foolish to be irresponsible with your borrowing.
However there seems to be a theme that if a loophole exists to avoid repaying these debts then it is morally wrong to take it.

As we all know morals are a continuum. What I mean is (and a thread on here recently acted as a rough straw poll) if you are under charged by the tax man and you are confident that the under payment is not traceable, then I suspect many would keep it and sleep easy at night. However I also suspect that very few would agree that stealing money from a pensioner is in any way acceptable or even comparable.

I am not making a judgement here I am just highlighting the disparity, or the example of "differential association".

If we accept this as broadly true then where do credit card companies stand on this moral continuum? Many of the responses indicate that they consider them to be at the "pensioner" end when I would consider them self seeking and rutheless, they prey on the those in society least able to make wise financial decisions as well as being least able to attone for those errors once made.

Why should they be held in high regard morally and why should we feel that those that look for loopholes (which they cant create) shouldnt take advantage of them?

if you've never made a mistake, you're wasting your life.

Or your capable of foreward planning, didn't take out credit cards, lived within your means, and now feel slightly anoyed at the number of people who seem to think it acceptable to rip the rest of us off.

Spoondude – nicely contextual shift there. Have you never made a mistake of any sort?

Im in this situation at the moment, currently on a debt management plan, although one of my creditors is now hassling to get me to clear the debt completely. I wish i could…
I know its my fault and im not shying away from it, but jeez, cut me some slack LTSB!
hey ho, will have another chat with them later to cheer myself up!

Why should they be held in high regard morally and why should we feel that those that look for loopholes (which they cant create) shouldnt take advantage of them?

I don't doubt that they are self-serving (?) and ruthless to a point and I'm sure their APR is pretty unreasonable

BUT

people are trying to have the debt cancelled, rather than seek to agree a fairer set of terms

rather than seek to agree a fairer set of terms

Have you ever tried agreeing a fairer set of terms with a credit card company!!!

I think this debt canceling thing is just a scam though and companies who do it want closing down as they are preying on people when they are at their most vulnerable.

the-muffin-man – Member
Have you ever tried agreeing a fairer set of terms with a credit card company!!!

Yep a client of mine has just done it with Virgin and reduced her interest rate down by half.

Load of info & advice here

http://forums.moneysavingexpert.com/showthread.html?t=1868507

mistake (according to google):a wrong action attributable to bad judgment or ignorance or inattention

Yup plenty of those, but (IMO) getting into unmanageable debt is just plain stupidity. You couldn't afford it then (hence getting the debt), and it's fairly obvious you can't afford it now, making the rest of us pay for his mistakes isn't exactly endeering the OP to me.

There are many, many reasons why people end up in debt – not just stupidity.