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Unenforceable Credit Agreement

Moneymeans have a dedicated team of claims management experts that specialise in recovering all unfair charges levied by all of the big financial companies.  Moneymeans claims management experts can help you recover unfair bank and credit card charges, miss sold Payment Protection Insurance.

If you have been affected by any unfair charges then talk to us today.  Our team will review your financial situation and highlight any areas where you may be owed compensation for unfair charges or miss sold payment protection insurances.

We can recover £1,000's of pounds of your money that may have been taken from you on a No Win No Fee* basis.

Credit agreement what makes them unenforceable?

While there are many points to consider when assessing a credit agreement, our team of claims management specialists, experts in the Consumer Credit Act of 1974, will look through the terms and conditions and apply their knowledge when checking areas such as:

  • Unfair terms and conditions in the underwriting of the agreements

  • Issues relating to unclear/unfair APR rates

  • Information missing from the loan agreements

  • Misleading information/figures on the agreements

WHO QUALIFIES FOR OUR SERVICES

  • Anyone with an agreement regulated by the Consumer Credit Act of 1974

  • The loan agreement must be dated before the 6th of April 2007 and be for more than £1,000 and less than £25,000.

  • It must be an existing/current loan. With an outstanding balance in excess of £1,000.00

Under current consumer credit laws, when you enter into a contract with a bank or credit card company or creditor, the paperwork must contain certain prescribed details that you have clearly signed up to.

It is a statutory requirement that CCA-regulated agreements should be in writing and signed by the borrower and that they contain the following information:

  • The amount of credit (or credit limit)

  • The credit charges

  • The rate of interest and whether it will vary throughout the course of the agreement

  • A notice of cancellation (if it is a cancellable agreement)

  • Details of the repayment schedule

  • If the agreement is not in accordance with the above requirements then it is unenforceable.

  • A credit agreement should also include the following (although if it doesn't, then permission from the court will be required in order for it to be enforced aggainst you)

If you haven't signed the agreement, or if the required legal elements aren't specifically stated, then the lender will find itself in trouble if it tries to take you to court for non-payment. In other words, the contract you have with the lender may be unenforceable and, therefore, worthless. Once we receive your approval, we will write to your lending company and ask them to send us the original contract you signed. Once we write to them, they have 21 days to return legal documentation we request.

After 21 days, if they have not responded to our request then they will default on legal obligation and you walk away from the contract itself and do not have to make any further repayments.

 

*Moneymeans reserve the right to make a cancellation charge if you knowingly provide our business with misleading financial information. Furthermore, if we are successful and win compensation and you try to cancel our agreement without paying our fee, we reserve the right to charge you a fee of no more than 25% + VAT of the compensation amount won.