News
Unenforceable Debts Scam
18/11/2009 15:54:00
TRADING Standards are warning the public to be extremely wary of unsolicited phone calls from traders who claim to be able to assist getting 'unenforceable' credit card debts written off.
In one such scam, a company called Hamilton-Reid and Co Ltd offer to look at credit card balances, payment protection agreements, outstanding loans etc and claim that they may be able to get any debts written off if the credit card agreements do not comply with the requirements of a recent amendment to the Consumer Credit Act 1974.
The traders claim to take their fees from any subsequent settlement
they recover for claimants. However it appears that their claims are
spurious and furthermore there is local evidence of hefty charges being
immediately applied to credit cards once card details are handed over.
Hamilton-Reid and Co Ltd have an impressive website with a Glasgow
address. However this is an accommodation address only and Glasgow
Trading Standards, working with Scambusters, are actively investigating
the trader's practices and whereabouts.
OIC Trading Standards can be contacted with any queries or concerns on 873535.