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Credit card debts and loans being written

Credit card debts and loans being written

For sometime now we have heard the rumours about credit card debts and loans being written off by their various providers. Then last week BBC One showed a Panorama television programme called ‘Can’t Pay, Won’t Pay’ We heard Sir Roy Good an eminent Solicitor who was involved with the drawing up of the Consumer Credit Act 1974 explain the mistakes that made these finance agreement invalid and unenforceable. We heard from Basil and Amanda Rankine who had successfully written off around £100,000. They had then gone on their own to challenge other agreements only to lose their case and have to pay £100,000 High Court cost for losing their case.

There is a little known secret about a UK business called LoanCheck that has quietly been auditing mortgages, car loans, home Improvement loans, consolidation loans, personal loans, buy to let mortgages and to date, they have submitted over 40,000 mortgages and loans to their solicitors for refunds. The reason for them submitting these mortgages and loans to their solicitors is they have found them to be invalid and unenforceable and challengeable in a court of law. They will not challenge any finance agreement unless they believe the contract to be invalid and unenforceable and the claim to be more than £5,000.

Credit card debts and loans being written

Credit card debts and loans being written

Easy as counting to three!

Loancheck have developed a computer based initial assessment process that allows you to check if you may have a claim on a current or previous mortgages, car loans, home Improvement loans, consolidation loans, personal loans or buy to let mortgages. Just follow the links and answer the questions about your finance agreement. Do not try to submit a claim if you do not have the actual agreement number for your lender or the provider of your finance agreement. Lenders and providers do not have to provide you with any details of any loans you have had with them if they are over six years old.

Establishing an audit account costs you nothing. Should you decide to proceed then they will need a signed authorising form stating that Loan check can act on your behalf, two specified forms of identity and a cheque for £10, made payable to your lender or provider in order to secure the exact details of your mortgage or loan account. They will request copies of your original documents and they will assess you account to establish whether there are grounds for a legal case.

Easy as counting to three

Easy as counting to three

Your case will then be prepared for a solicitor to assess the details. The solicitor will run your case and when they win the case they will pursue the lender for a refund on your behalf. This process will not cost you any money as the solicitor works under the Government’s Access to Justice System.

UK business called LoanCheck has submitted over 40,000 mortgages and loans to their solicitors to claim compensation for invalid and unenforceable finance contracts. Over 40,000 invalid and unenforceable mortgages and loans have been submitted by Loan check to their solicitor’s s to claim compensation for their clients. FREE Mortgage Check to see if you’re current or past Mortgages are invalid and unenforceable; it may be worth claiming Thousands of Pounds in compensation.

Commercial loan guides

Commercial loan guides

Any type of loan that is granted to someone in the business sector is collectively known as commercial loans. It could be a mortgage, a bridging loan, part of a finance deal for property development, or even an overdraft facility. Invariably, the type of loan has the prefix ‘commercial’ in its name.

There are a number of financial providers who lend to either or both the business and private sector. Generally, the lenders all have differing criteria for an application to be successful. It is also common for them to offer differing terms and interest rates. It could therefore be deemed advisable to research the market place extensively before committing to any commercial loans. If this task seems daunting, then making use of the services of a commercial mortgage broker could be the answer.

The choice of the commercial loans to apply for is dependent on the reason for its request and circumstance. A business with a poor credit history or a self-employed person with no accounts could still be granted commercial loans. However, the increased risk for the lender could mean that deal might have higher rates and less favourable terms. Conversely, those who are experienced and have a profitable status generally are offered better deals.

Commercial bridging loans

Commercial bridging loans

Commercial bridging loans

Should funding be required quickly, then this could be achieved by obtaining a commercial bridging loan. These are short-term mortgages and are generally expensive but can be raised relatively quickly. The loan amount is secured against the property about to be purchased and normally 80% LTV (loan to value) if offered. It can be possible to gain 100% LTV if a lower purchasing price is negotiated. This is because the current market price is used for its calculation and not the purchasing price.

Another member of the commercial loans family is the commercial mortgage. These are granted so that a business can buy property or land, or can be used to purchase an on-going concern. These are long-term financial deals of varying duration and payment schedules. They are calculated on the ability of the business to make the repayments and generally require a minimum deposit of 20%. If premises are to have a mixed use of both domestic and commercial, then a semi commercial mortgage is applicable. Again, the lender requires proof that the repayments could be met but in this instance, the income could come from a variety of sources. Both these types of commercial mortgages could also be used as a re-mortgaging facility to cover expansion and refurbishments.

Commercial loans for property too

Commercial loans for property too

Commercial loans for property too

Commercial loans are also present in property development finance. These deals could consist of an assortment of short and long-term elements, including equity and mezzanine finance, plus bank debt. High street banks normally only grant 50/50 funding (50% for the acquisition and 50% for the building). This can be increased to 70/70 if the developer is experienced and with a good record. If a greater amount of finance is required, including 100% property development finance, then that is when using a commercial mortgage broker can prove invaluable. They are usually in a better position to source the marketplace and construct the best deal from the complex selection of commercial loans available.

What the banks and credit card companies

What the banks and credit card companies didn’t want you to know

When a Bank or Financial Institution lends you money they take money from their own reserves or the Depositors money held in Trust and make this available to you on the condition that you pay it back with interest, Right? WRONG!!!!

What actually happens is that when you apply for a loan, this application is then converted to an IOU (I Owe You) which in the eyes of all parties involved (except you ‘ you ignorant fool) has the value of the amount written on it. So the bank takes this and enter it into its accounting ledgers as a deposit, or sells it for the stated value and enters the value received into it’s accounting as a deposit.

Now the Bank owes you money.

To balance it’s books the bank now releases into your account credit to the stated value. Now the books of the bank are balanced. No one owes anyone anything. But they do not tell us about this, if this became widely known the whole scam would fold ‘ and we are starting to see the effect of this game already with the Credit Crunch.

Now the Bank owes you money

Now the Bank owes you money

Next you have to repay the whole amount again plus interest! If you are into mathematics, you can see what an exceptionally profitable scam this is. If you or I did create money out of nothing, we would soon be in jail. But the Banks have bought the Politicians and control the Courts, so they have made it legal.

But there is a catch in their system. They did not disclose this to you when you signed for the ‘loan’ so the Contract is not valid.

You can stop a loan or credit card with a simple letter

By simply writing a series of letters to the Bank or Credit Card Company where you state that you are happy to pay any money owed and ask for certian information that they do not want known, you can stop them in their tracks. This is too much for this article, but if you get a copy of the book below by Mary Croft, she will explain it.

Also, it is not generally known that the name on the account and which the letters are addressed to is not really you. You as a living breathing human being cannot operate in the fictitious world of commerce, so the State created a legal fiction (a kind of corporation) with your name, this legal fiction (your “Person” or “Strawman”) is what is getting taxed, billed, and sent various presentments. It is never YOU!

You can stop a loan or credit card with a simple letter

You can stop a loan or credit card with a simple letter

An excellent source for finding out how this works in more detail is the free E-book by Mary Croft ‘How I clobbered every Cash Confiscatory Agency known to Man’. It is about how she started broke and desperate, and then started to learn how the system really works and put it to use. Step by step she became more and more free of the oppression of Banks, Government and the legal system until she lawfully did not pay tax and learned how to offset any presentments or bills with a secret account in her name that the Government uses to fund itself.

Let this be your first step on a road that will lead to greater freedom than you ever thought possible.