The Credit Card Debt Loophole

Young people target for credit card fraud

Government advisors say "It is imperative that we take action to prohibit financial information being copied by identity thieves". Everyone understands why it's best practice to prevent personal details from falling into the wrong hands. Credit reference agency Experian have released a report claiming that young people need to take special caution. Research from Experian indicates that young single adults who often live in shared rented accommodation and are on a reasonable income are a...

What Makes a Credit Agreement Unenforceable?

Credit card debts are causing such big problems for UK consumers due to the "credit crunch" and it comes as no surprise that millions are looking for ways to eliminate these debts. The usual methods are debt consolidation and debt management programs, with possibly insolvency proceedings or Private Voluntary Arrangements in extreme cases. Recently however there is a new tactic when it comes to clearing credit card accounts: the illegal credit agreement. This method uses a little-known "...