Get Out of Debt Free is very different from most consumer debt support sites, it has been set up to highlight the fraudulent nature of the financial system and offer solutions to those who are experiencing financial hardship as a result of it.
We are an Online Community, supporting each other to overcome personal debt, by challenging their procedures and requesting certain documents from the banks and debt collectors, which they should have, but generally they don't.
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I had a CBA platinum credit card with a $17,000 limit. At $15,000 I became unemployed, and used the remaining credit to survive for a couple of months, running it up to $17500.
I followed the tutorials and instructions, posting my copyright declaration, and sending off my letters to the office of the CEO for Commonwealth Bank, the biggest bank in Australia.
Their office responded, here is a summary of the important bits. "The CBA has reviewed your request and the language used in your letter is not clear or in line with Australian banking terminology" "Your Mastercard account is an unsecured debt and no contract is signed on the establishment of the account" "This letter is to confirm that your credit card and associated Terms and Conditions outline your obligation to us with regard to your Mastercard".
All fear I had instantly vaporized: Here was the office of the CEO, telling me no contract is signed and that I am obligated. No contract, obligated. Incredible!
Has anyone ever received a credit card that they haven't had to sign a contract for? The answer is No.
They didn't respond to the second or third letter, and they never did provide the information I was requesting so that I could lawfully settle any obligation I might lawfully owe. The next contact was from the Debt Collector, and I followed the exact same process. They were unable to prove the debt and we now have a tacit agreement in place.
The debt was at $21,500 AUD at 22% interest when I sent my final letter several weeks ago.
I highly recommend this site to my friends and to follow the process I did. Remember, fear is your only enemy.More Success Stories here
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We offer a unique insight into dealing with debt, by acting honestly, lawfully and truthfully, which does not follow the advice of Debt Counsellors, Citizens Advice Bureaus or Financial Advisors.
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If you are new to Getoutofdebtfree and you may have doubts that you can take on the banks or debt collectors, I just want you to know, I was nervous, but when you start getting the research behind you and follow the 3 letter process you will win! Do exactly what it says and if you are in doubt, check the forum for help and advice. I have beaten Moorcrap Moorcroft, they gave up after the 3rd letter, BLS Collections gave up after the 2nd letter, Robinson Way gave up after the Estoppel letter, Idem Servicing gave up after all the letters sent, Arden gave up after all the letters sent, IQOR gave up after the 3rd letter and Crapquest CapQuest gave up after the 3rd letter. Don't Give Up- Play the Game and then Beat Them!