Many Credit Card and Loan Agreements are unfair or illegal!
The consumer credit act was made a part of law in 1974, since then Millions of consumer credit applications have been made. In April 2007 changes were made to this act enforcing the behaviour of lenders.
We can review the following types of agreement to see if they are unenforcable, this means they could be wiped out!
How does this work?
Our solicitors and financial experts can review your consumer credit agreement checking that it complies with the prescribed terms defined by the consumer credit act of 1974. This act protects the rights of lenders and consumers who are in contract with each other.
If your agreement is declared to be unenforceable, you would not be obligated to make any further payments of your loan and because the lender has not complied with the law you could also be entitled to compensation. We can also help if your account is in arrears or you are in an IVA.
What makes a consumer credit agreement unfair?
While there are many points to consider when assessing a credit agreement our specialist legal team are highly trained in the consumer credit act of 1974 they will look through the terms and conditions and apply their knowledge when checking areas such as:
- Issues relating to unclear/unfair APR rates
- Information missing from the loan agreements
- Misleading information/figures on the agreements
The above is only a few examples of what we look for, each case is assessed on its individual merits by our legal team.
Who qualifies for a consumer credit claim?
- Anyone with an agreement regulated by the consumer credit act of 1974
- the loan agreement must be before the 6th of April 2007
- It must be an existing/current loan. With an outstanding balance in excess of £1000.00
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