Can you REALLY cut credit card debt? Cartel Client Review and unenforceable credit

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

Right David jack has just made a big cock up IMO. have written to him again about it.

Cartel Client Review Consumer Credit Litigation Solicitors

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

David jack

The information i have has all come from Master Agents both past and present, many are still working inside Cartel as well as Legal Executives in CCLS and admin staff at CCR. With the investigation now at a crucial stage involving the police and the MoJ as well as the potential for the Inland Revenue i cannot reveal my sources publicly but have them with the MoJ and Police. Once they have reported their findings i can publish more of my sources and investigations.

The figures come from Cartels own databases and Carl Wrights own mouth at sales meetings and seminars.

He sits his five most senior members at the back of the room to make sure no one films or records him, however this has not stopped secret filiming of his claims.

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

I have teamed up with JLT Law and QBE insurance along with James Pickering QC to provide the service of a, processing any potential claims within 30 days and b, seeking the recovery of fees and interest from Cartel or the MoJ if Cartel fold. They have successfully settled some 1700 cases in the last eight weeks but at the same found that 45% of Cartel cases never had a claim in the first place so are seeking full refunds and damages.

David jack (I asked him so will check that lot out ) recovery from the MOJ sounds a non starter?

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

Ministry of Justice fail to protect consumer

Read the amazing failure of yet another regulator in the financial services industry that fails to protect the everyday consumer.

Cartel rip off allowed to continue in face of strong complaint and evidence to the contrary.
20th September 2009

Liberal Democrat PPC for Stoke on Trent North, David Jack
Following the laying of serious complaint with the Ministry of Justice recently given the amount of upset customers who had contacted me, I managed to gain a meeting with the investigating officers from the Ministry of Justice recently in Stoke On Trent.I was given a sign of hope in the fact the MoJ were aware of the problems with Cartel and Consumer Credit Litigation Solicitors, themselves having received huge numbers of complaints.
The MoJ were also concerned that two audits had now been undertaken on the company and questions asked back in November from the last audit were still unanswered and the audit had not been signed off. Even though Carl Wright claims to have sailed through two auditors successfully.
What was even more encouraging was that the investigating officer said that he knew Cartel was a scam and a front loaded company with no real proof of success or legal process. Further, the investigating officer went on to say he knew it was a large money laundering scheme and that Guernsey was being used in the process of money being moved around and possible connection in India.
This I thought was a great break through and at last the company would be shut down.
However, the investigating officer has come back and now said he is powerless to act and that he cant take the matter any further forward.
I am now aware that the Minister for Regulating the Claims Industry is not aware of the findings of the investigation team as they have yet to forward all the information to the minister for action.
One has to ask the question, what on earth are the MoJ doing and who pays whom here?
Indeed, the investigation officer did not even take one scrap of my evidence away with him for further consideration, instead he sat in the office explaining how good an old copper he was in the day when he was on the Police Force and also explained how understaffed they are at the Ministry, using postgraduate work experience students to help cover the staffing levels.
He also stated that he felt a need to protect the MoJ as he felt I might be attacking them for failing to act quickly!!!!
It has been reported by one insider that they believe that there maybe somewhere in the region of 4,000 complaints against this company and yet the regulator sits on their idle hands leaving clients and consumers exposed to this scam, daily being ripped off.
In a recent telephone conversation this week with the investigating team I laid an ultimatum on them of one week to bring the investigation to the public front or face the wrath of the British press for failing to act on known information and actually being complicate in the commission of a crime.
The deadline expires midnight Wednesday 23rd September. - I personally wont hold my breathe.
The Battle continues............

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

shall I write to the MOJ ? and do you think they would bother replying ? doesnt hurt to ask the questions does it.

keeping this in VIP as David is under legal action threats, although things are quiet from carl at the moment, but no point fueling the fire.


edit: sod it emailed them.

Still nothing from vince cable btw.

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

oh and Sharon Sherratt resigned as director on the 7th Sept

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

OMG

Invocas (scottish trust deeds) are holding up peoples discharge from the trust deed because they are sending people to Cartel rather than releasing the funds to creditors.

Some WITHOUT telling their clients.


Theres quite a number of posts popping up about this. example cause it explains it quite clearly.

Hi there, I too have received a letter. Mine is from my IP (Invocas) stating Cartel Client Review want to look into our morgage account!

The thing is, our mortgage is not on the creditor/debitor list and has never been a problem. Even though my name is jointly on the paperwork, my wife assumes responsibility for the payment and always has done. We are worried that said company will "investigate" and will attempt to say we were mis-sold something, even though we are perfectly happy with it. Is this just a formality I wonder? A way for the IP and this other company to potentially make a fast buck.

Invocas have said that I have to divulge the information - sign the data release documentation, otherwise my TD is void! We're really worried about this. Invocas stated before I signed the dotted line that my wife would not become involved in the protected TD as it was my business that failed, and my debt as such. As the mortgage is 50/50 surely this will involve her? If this is the case, we are extremely concerned.

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

- Carl Wright, the boss of financial claims management firm Cartel Client Review, was paid almost £790,675 last year, according to newly-filed accounts for parent firm Cartel Group Holdings. The firm posted a pre-tax profit of £62,754 (2007: £695117 loss) on sales of £308,178 in the year to September 30th, 2008, but also earned management charges of almost £2.2m from subsidiaries. It has net liabilities of £181,990 but is owed £482,983 by related companies which also had negative asset positions. A statement from auditors Mitchell Charlesworth said that the financial positions “indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern”.


(accounts attached)

People who owe Cartel holdings money...they seem to be propping up cartel client review rather.

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

hmmm

Hi Sharon

In have given them over 400 cases and all of the complainants who contact me are advised to complain to MoJ and OFT too. They actually told me last night that they are not there to investigate consumer complaints or prevent fraud, just to regulate, I asked what that meant and I was told to look it up!!!

I will be sending details for seminar out in the next couple of days but two of you would be great.

Regards
David Jack

[LuggerBugs]

Re: Can you REALLY cut credit card debt? Cartel Client Review

The discussion has already started on the Credit Today Forum. A pity I'm banned.

Credit Today online

£21bn of credit card debt “unenforceable” - 25/09/2009

More than £21bn of the UK’s credit card debt is covered by unenforceable credit agreements and could be written off, according to financial claims management company Cartel Client Review.

Cartel has based its projection partly on an estimate from money education charity CreditAction that total credit card debt in the UK now stands at around £53bn. Cartel added that 40 per cent of all financial products brought to them for review can be claimed against.

The claims management firm said that an average client has 10 financial products, of which four can be claimed against.

Carl Wright, managing director for Cartel Client Review, said: "Previous estimates around the amount of unenforceable credit agreements put the figure at 25 per cent, but this does not tally with our observations. On average, I’d say our customers can claim against as much as 40 per cent of their credit agreements."

He added: "There are specific rules that lenders must adhere to when they sell a financial product to a consumer. If these have been breached, lenders should admit their mistakes and stop dragging their heels through the legal system. This only results in unnecessary additional legal costs for all involved."

Figures from CreditAction also show that the UK collective credit limit on credit cards is £158bn, which is an average credit card limit of £5,129 per person. The charity said the average interest rate on credit card lending is currently 17.6 per cent - 17.1 per cent above base rate (0.5 per cent).

The Bank of England announced earlier this month, however, that personal borrowing fell by £600m in July, taking the total owed by individuals down to £1.457 trillion.

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

pmsl

Carl Wright, managing director for Cartel Client Review, said: "Previous estimates around the amount of unenforceable credit agreements put the figure at 25 per cent, but this does not tally with our observations. On average, I’d say our customers can claim against as much as 40 per cent of their credit agreements."

what happened to their 85% estimate a few months back ?

[LuggerBugs]

Re: Can you REALLY cut credit card debt? Cartel Client Review

pmsl



what happened to their 85% estimate a few months back ?

Ah, that's just their MARKETING estimate. The one that they tell you when they try to get you to sign up.

The value of which may go down, as well as up, depending on what stage your application is at.

[Curlyben]

Re: Can you REALLY cut credit card debt? Cartel Client Review

also depending on which OC it is
After all Cap1 is near 100% closely followed by Sharky.

Whereas the main banks tend to be alot better at compliance, well almost anyway.

[Amethyst]

Re: Can you REALLY cut credit card debt? Cartel Client Review

David Jack is now sending people with UCA claims(or not as the case may be) through to JLT Law - solicitors. So not a CMC. Is he acting as an introducer ? Under his own name he is not CMR regulated.

These people have possibly been screwed by Cartel, don't want them to be screwed by someone purporting to help them under the 'official' lib dem banner. Vince Cable hasnt gotten back to me.

Claims £25 upfront and on ''Costs are claimed from the lender and a disbursement is made back upon yourselves for a percentage of the costs. ''

Sols are JLT Law - insurance QBE Insurance - also QC James Pickering. ? ( James Pickering - Barristers - Enterprise Chambers )

Put all your papers together and then submit them in them post to my self and they will be forwarded onto the audit team for assessment and process using the submission request form.
Submission request form Within 48 hours the audit team will be able to decide whether there actually is a claim on the contract and will then either reject the claim or submit litigation within 30 days through the solicitors who are already ATE insured.
Costs are claimed from the lender and a disbursement is made back upon yourselves for a percentage of the costs.
Meantime, the lawyers will also be pursuing Cartel for refunds by grouping clients into groups of five or more, class actions can be begun almost immediately.
Best of all, you will not have to meet the ridiculous 30% or 25% contingency fee arrangements that Cartel talk about.
This is all covered in the one off admin fee that I have negotiated very strongly in favour of all clients, reps and brokers who have unwittingly been caught up in the mess of twenty five pounds a case.
If you have any questions what so ever then please email me at davidjack@stokenorthlibdems.com
postal address;
Cllr David Jack, Parliamentary Candidate - Stoke North, 3 Moreton Place, Scholar Green, Congleton, Cheshire, ST7 3LZ