PRODUCT AND SERVICES
Unfair Credit Agreements
Are your credit agreements not worth the paper they are written on?Unfair credit agreements for loans and other finance deals could see you paying more every year for an agreement that does not even comply with consumer protection laws.
Ask yourself the following questions:
- Are your payments never ending and is the APR% interest always increasing?
- Does your credit agreement comply with consumer protection laws?
- Do you feel your credit card or loan company are treating you unfairly?
- Were the payback terms and interest rates on your agreement clearly explained to you before you signed?
- If you don’t know the answer to some of the above – Debt Refund is here to help.
Our professional legal team will audit your consumer credit agreement to check for any unfair or unenforceable aspects – and then try and help you get your debts reduced or even written off.
Lost or misplaced the original agreement?It doesn’t even matter if you’ve lost or misplaced your original credit agreement, we can request original copies on your behalf from your lender or credit card provider.
What can I claim for?
If there are errors in your consumer credit agreement, it could be regarded as being unenforceable, in which case our solicitors may be able help you have some or all of the outstanding debt reduced or even written off.We can help you find out if your consumer credit agreements comply with the law.
Working closely with our specialist unfair consumer credit agreements team, we can review all credit agreements with a current minimum balance of £1000:
- Secured loans
- Unsecured loans
- Hire purchase
- Consolidation loans
- Car loans/finance
- Credit cards and store cards
How does it work?
The Consumer Credit Act 1974 was introduced to protect UK consumers. It contains very strict ‘prescribed terms’ which must be followed in every credit agreement for it to be legally enforceable.If there are errors in your consumer credit agreement, it’s regarded as being unenforceable, in which case our solicitors may be able to help you have some or all of the outstanding debt reduced or even written off.
Just as importantly, for consumer credit agreements signed since April 2007, Debt Refund can check whether your relationship with the lender is fair under the Consumer Credit Act of 2006. This states that for credit agreements signed after April 2008, breaching a prescribed term will no longer automatically make an agreement unenforceable, but it might make it ‘unfair’.
If your relationship with your lender is deemed to be unfair, the court has discretionary powers to redress the balance. This could include:
- cancelling the agreement entirely
- changing it so you don’t have to pay back so much, or
- ordering some other action to make the agreement fairer.
Note: the ‘unenforceability’ aspects of the Consumer Credit Act 1974 only apply to credit agreements up to a maximum of £25,000.
How much can I keep?You keep 100% of any final settlement, plus interest. You also get to keep any goods or services that you have already bought with the credit.
