Can balance be written-off due to contract loophole?

[Will Scarlet]

I saw a TV program not so long back that was discussing credit card contracts and that there were glitches in some of the contracts that allowed a couple in london to write-off their existing balances with some of their credit cards. Does anyone know anything about this and if so, could you point me in the right direction please.

MBNA have been truly brutal with me and what was a £4-5k balance is now nearly £10k.

I think it is disgusting how they treat people and it would be great if I could flick two fingers up at them....

Thanks in advance for any help offered.

[andydd]

I saw a TV program not so long back that was discussing credit card contracts and that there were glitches in some of the contracts that allowed a couple in london to write-off their existing balances with some of their credit cards. Does anyone know anything about this and if so, could you point me in the right direction please.

MBNA have been truly brutal with me and what was a £4-5k balance is now nearly £10k.

I think it is disgusting how they treat people and it would be great if I could flick two fingers up at them....

Thanks in advance for any help offered.

 

Debts cannot be completly 'written off' and there is no actual loop hole, just current law, I expect you wish to find out about credit agreements.

 

Properly executed agreements

 

Here, might be a good start

 

Andy