100% Free Independent Advice
Unfair, Invalid and Unenforceable Credit Agreements
Kerry Jonas asked:
Millions of people across the UK may have loan or credit card debt that is unenforceable by Lending companies. Debt can be a major cloud over most people’s head and the thought of releasing this debt can be like winning the lottery. This is what many companies are capitalising upon so if your seriously thinking about having your debt erased you need to be armed with the facts.
Firstly it’s not a straight forward area of no win no fee, it involves a comprehensive understanding of the law, specifically the consumer credit act of 1974 and the changes to this act in April 2007.
Ok now onto the important aspect of how unenforceable loan law works. In its most simplest form it involves the checking of your contracts and documentation for flaws which could involve any of the below:
Your loan provider told you that you had to take out the PPI at the same time as the loan or else you couldn’t take it out.
You were unemployed or self employed at the time
You were not given options to purchase the PPI elsewhere
You were not asked if you had insurance in place to cover the loan
It was your belief that the PPI was a compulsory part of the loan
The PPI had age restrictions that you fell outside of
Nobody explained the exclusions in the policy that could effect you
You felt pressured into purchasing the PPI
You were led to believe that if you took out the PPI you would stand a better chance of getting the loan
You paid the PPI up front and it was not explained that you could pay monthly
You paid the PPI up front and paid the loan back early receiving no refunds
The terms and conditions were not explained fully
You increased your loan and the PPI was increased automatically
The above is only a partial list, there are several avenues to go down when checking over your agreements. Once a flaw is identified the hard work begins, proving and approaching your loan provider to negotiate a settlement. This could take 3 to 9 months so again do not be fooled into thinking this is an overnight fix and do not fall into the trap of not paying your bills, its important you continue to pay your loan until the agreements have been made.
If you have debts in the form of personal loans or credit cards and would like a qualified company to work with you to erase this debt our team can help.
Create a video blog
Millions of people across the UK may have loan or credit card debt that is unenforceable by Lending companies. Debt can be a major cloud over most people’s head and the thought of releasing this debt can be like winning the lottery. This is what many companies are capitalising upon so if your seriously thinking about having your debt erased you need to be armed with the facts.
Firstly it’s not a straight forward area of no win no fee, it involves a comprehensive understanding of the law, specifically the consumer credit act of 1974 and the changes to this act in April 2007.
Ok now onto the important aspect of how unenforceable loan law works. In its most simplest form it involves the checking of your contracts and documentation for flaws which could involve any of the below:
Your loan provider told you that you had to take out the PPI at the same time as the loan or else you couldn’t take it out.
You were unemployed or self employed at the time
You were not given options to purchase the PPI elsewhere
You were not asked if you had insurance in place to cover the loan
It was your belief that the PPI was a compulsory part of the loan
The PPI had age restrictions that you fell outside of
Nobody explained the exclusions in the policy that could effect you
You felt pressured into purchasing the PPI
You were led to believe that if you took out the PPI you would stand a better chance of getting the loan
You paid the PPI up front and it was not explained that you could pay monthly
You paid the PPI up front and paid the loan back early receiving no refunds
The terms and conditions were not explained fully
You increased your loan and the PPI was increased automatically
The above is only a partial list, there are several avenues to go down when checking over your agreements. Once a flaw is identified the hard work begins, proving and approaching your loan provider to negotiate a settlement. This could take 3 to 9 months so again do not be fooled into thinking this is an overnight fix and do not fall into the trap of not paying your bills, its important you continue to pay your loan until the agreements have been made.
If you have debts in the form of personal loans or credit cards and would like a qualified company to work with you to erase this debt our team can help.
Create a video blog