Claims for Credit Cards

People who are thinking of claiming against their lender for credit card charges or a large debt might find it a bit trickier under new guidelines.

The OFT plans to make a matter clearer which until now was often a handy loophole: the 'original agreement' topic...

If the lender was unable to produce an original agreement document within 12 days of the borrower requesting it, the debt became unenforceable. Not bad - but now lenders are likely to be allowed to produce a 'true copy' of the document. This will suffice as evidence against the borrower.

Annoying for those who are already in the process of trying to write off their debts. But there are some things one could do: one could find a really good claims service to try and find a solution. Or one could go to the root of the matter: think carefully before taking a credit card or loan and make sure you are prepared for repayments!

If you think borrowing is not your game, there are alternatives - the prepaid card is a great way to pay without borrowing money.