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Write off 70% of your debt?

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Write off 70% of your debt?

Postby theycantdothat » Mon Mar 10, 2014 7:27 pm

I have just had a call on my English mobile to let me know that I can legally write off 70% of any loan over £5000. Unfortunately it was a recorded message so I could not ask what splendid piece of legislation allows this. Anyone know?
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Re: Write off 70% of your debt?

Postby atticus » Mon Mar 10, 2014 8:20 pm

Insolvency Act 1986.

They want you to go into an IVA.
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Re: Write off 70% of your debt?

Postby notguilty » Sat May 23, 2015 2:46 pm

Couldn't you go bankrupt and write off the whole lot?
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Re: Write off 70% of your debt?

Postby atticus » Sat May 23, 2015 4:52 pm

And lose your property?
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