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Man Who Created Own Credit Card Sues Bank For Not Sticking To Terms

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http://www.telegraph.co.uk/finance/personalfinance/borrowing/creditcards/10231556/Man-who-created-own-credit-card-sues-bank-for-not-sticking-to-terms.html

But he didn't throw the contract away or shred it. Instead, the 42-year-old from Voronezh, Russia, scanned it into his computer, altered the terms and sent it back to Tinkoff Credit Systems.

Mr Argarkov's version of the contract contained a 0pc interest rate, no fees and no credit limit. Every time the bank failed to comply with the rules, he would fine them 3m rubles (£58,716). If Tinkoff tried to cancel the contract, it would have to pay him 6m rubles.

Tinkoff apparently failed to read the amendments, signed the contract and sent Mr Argakov a credit card.

..

"They signed the documents without looking. They said what usually their borrowers say in court: 'We have not read it',” said Mr Mikhalevich.

But now Mr Argakov has taken matters one step further. He is suing Tinkoff for 24m rubles for not honouring the contract and breaking the agreement.

Tinkoff has launched its own legal action, accusing Mr Argakov of fraud.

:lol::lol:

Excellent perhaps more people should do this? Not sure how it can be viewed as fraud he amended the contract and submitted it for approval it's hardly fraud if you failed to read the amendments made by someone else.

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http://www.telegraph.co.uk/finance/personalfinance/borrowing/creditcards/10231556/Man-who-created-own-credit-card-sues-bank-for-not-sticking-to-terms.html

:lol::lol:

Excellent perhaps more people should do this? Not sure how it can be viewed as fraud he amended the contract and submitted it for approval it's hardly fraud if you failed to read the amendments made by someone else.

:lol:

Genius!

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This fella copied/plagiarised a bank document and claimed it was his contract form.

The hole in his legal case, could be fraudulent use of the bank name and logo leading to misrepresentation.

He will more than likely have a good run for his money, then get squashed.

Sad ending I predict.

..._

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Yes, more people should do this, as most banks' terms and conditions are just as extraordinary. "We can change any of the terms and conditions without your permission at any time", and such things.

Nice to see the tables turned for once!

The man may lose in the end - but, incontrovertibly, he never assented to the banks' terms and conditions.

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I see a defence of mistake in contract. But if you're a finance professional that's a long shot.

The guy suing will probably win in court but recover nothing as the company collapses into insolvency. Doubtful that the insurers will pay up without protest, because the guy suing can't rely on negligence.

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