Are you snowed under with credit card debt and other consumer debt. Well surprise surprise you are not alone in capitalist Britain. For years the banks have thrown these credit card and other consumer loans and mortgages at us and when the going gets tough we all know what the tough do!!!
Why should you be punished when you fail to manage your financial obligations, while banks are bailed out by the UK Government when they fail to manage theirs.
Don't be daunted by some of the huge financial challenges out there. You are of course not alone.As the banks try every way to grab your hard earned money you can start to fight back as others have already begun to do so.
The recent BBC Panorama programme " Can't pay won't pay" exposed what some already knew. This is that some consumer financial contracts (loans and debts) can sometimes be legally written off. By law they must comply with the Cosumer Credit Act. A copy is available at
Consumer Credit , in particular financial contracts may be flawed, invalid or unenforceable
if they do not comply with the law. Some have been found to be unfair, inaccurate and some have been found to contain hidden clauses and commisions. You may wish to read the outline of the programme as it may inspire you that you can indeed fight back at
The Program mentions the case of Mr & Mrs Basil and Amanda Rankine who had previously written
Regulated Credit Card Agreements
Please read this email, it details why you do not have to repay your credit card balance. We have a test case going through the Court of Appeal which will not only set a precedent as to the enforceability of credit card agreements but also the legal status of default charges.
We are Mr & Mrs Basil and Amanda Rankine, we have taken and are at present being taken to court to challenge the enforceability or enforce our consumer credit agreements. There are six outstanding cases at the moment. We are both Independent Financial Advisors and have 20 years experience between us within the industry. After struggling with lenders since October 2004, disputing our agreements and attending over 30 county court hearings representing ourselves, we have been misled and mistreated by the courts and now we have decided enough is enough. We believe that it is in the public’s interest that we make consumers aware of our findings regarding the unenforceability of most credit agreements.
The full article dated Jun 7, 2007 at 10:26 am appears on
Mr & Mrs Basil and Amanda Rankine also run a company shown at http://www.creditcardkiller.co.uk
Any company offering Debt Adjusting and Counselling & Credit Brokerage must hold suitable current licenses issued by the Ministry of justice http://www.justice.gov.uk & Financial services Authority www.fsa.gov.uk. These can be checked online with the relevant government departments if needed.
One important piece of consumer Case law is Wilson v First County Trust Ltd is shown at
Lawyers may use this case law to get unfair contracts made unenforceable. If successful it even means negative entries on your credit file can potentially be deleted.
Help from our Union?
Many companies offer to help but with quite high associated costs. In somecases up to 30% of the debt
they get wiped off. Many cases are being won and settled out of court every week.
If we want low cost affordable legal help from our Union why not ask your local branch to pass a suitable motion requesting the General Secretary to make this very important legal service available to all members at an affordable cost.
We would need to instruct solicitors who deal with civil litigation ( not criminal litigation) including contract disputes. We would therefore need specialist panel solicitors who are used to doing with such cases.
Finally there is more help available in the fight against the credit Crunch!
FREE Consumer Action Group
The Consumer Action Group and associated forums have a wealth of information on how to reclaim bank charges and fight other debts all at http://www.consumeractiongroup.co.uk/
FREE Money Saving Expert
Martin Lewis is a consumer expert who writes in many national newspapers. He is highly respected and can help to save money on a range of everyday services at www.moneysavingexpert.com
Don't for one minute believe the myth that the the banks can have it all their own way and charge you whatever they want and even take away yout home. If we work with our fellow consumers and trade Unions we can prove once again that Unity is Strength.