CAN CREDIT CARD DEBTS BE WROTE OFF & MY CREDIT SCORE RESTORED?

Can anyone help ? i have £26,000 on three cards (mint,egg & mbna plat) i was considering an IVA as it is becoming harder and harder to make the payments .I am also missing payments and trying to catch up. whilst trying to find out more about IVA i heard of a company who claim to be able to write off my cc debts and remove my bad credit history. Is this possible? they say you dont have to enter an IVA or bankcrupcy. please help, as i dont want to enter into something that could be a scam 

This is a US site so I can't really say about UK law, but fortunately these commercials seem to be universal.  The answer is probably not.  What these companies usually do is have you stop sending payments to the creditors in order to 'encourage' them to settle you debt for less than you owe.  Then they issue you a consolidation loan for the full or partial amount and make money off the interest, the fees they charge you and the gap in what they settled your debt for and what they are charging you for it.  Probably not your best option.

That's interesting. I'm in Canada and I haven't heard of ads like that, or that "strategy" here.

A friend of mine filed for bankruptcy a few years ago, and I assume he would have come across that option if it was available here?

Thanks very much for taking the time to reply i didnt realise this wasnt a UK site. got a lot on my mind with all this debt.I have contacted the company again and thay say its a matter of ethics and law and goes to the heart of what the banks are doing wrong.They offer a 100% money back guarantee if they do not have your debts written off. they also guarantee to repair your credit file in 4 weeks. they guarantee that the credit card companys wont pursue me for my outstanding balances It must be worth a go.The company is [url removed]  I just hope i havnt missed anything that would be obvious to someone in the know.

I went to the website mentioned in the last post by leegelder and saw this sentence:

This is a one stop solution to clearing your debts, and repairing your credit file in a matter of weeks.

It caused me to remove the site address. I realize it was a UK site focused on UK residents but my bell went off. I can't believe credit repair and debt clearance in the UK is any different than in the U.S. It doesn't take weeks, it takes months.

 

that would be too easy! an IVA can have it reduced, a bankruptcy will have it written off but in both cases it would take a long time for your credit score to recover.