| What is an unenforceable agreement? | | | | outstanding balance? If you have answered yes to |
| Sometimes referred to as an unenforceable, unfair, | | | | those first two questions then you are on your way |
| or flawed credit agreement, your credit card, store | | | | to a possible claim. Some claims management |
| card or personal loan agreement will probably be | | | | companies may give the impression that you are |
| regulated by the Consumer Credit Act (“the | | | | guaranteed a claim and that you can have all the |
| Act”). The Act was recently modified, some of | | | | payments you have ever made back. Well, the reality |
| which came into force in April of 2007. So if you | | | | is that things are a little more complex than that. |
| have a card or loan agreement taken out before the | | | | Solicitors will fully assess your credit agreement, |
| 6th April 2007 you may have a claim. | | | | searching for areas where the lender may not have |
| The Act outlines strict rules to which card and loan | | | | adhered to the regulations laid out by the 'Act'. Your |
| providers (lenders) must adhere to which gives the | | | | agreement may be unfair or unenforceable on one or |
| customer rights when entering into a new card or | | | | more of up to 30 different points they look for, they |
| loan agreement. | | | | will report back to you once this assessment has |
| After careful and detailed research by solicitors and | | | | been carried out. |
| Barrister it transpires that some of these lenders | | | | A case can take from 6 – 9 months to complete |
| failed to apply the guidelines outlined by the Act | | | | and during this time you will be fully informed every |
| when effecting or finalising certain credit agreements. | | | | step of the way. Normally, a personal case owner will |
| This resulted in solicitors being in a potential position | | | | keep in touch as well as your local Appointed |
| to challenge the agreement on your behalf, in search | | | | Representative who assisted you with the application. |
| of a substantial reduction in the balance outstanding | | | | It is important that you fully understand the service |
| or even enable you to walk away from the debt | | | | provided and the processes solicitors follow to ensure |
| altogether. | | | | the right result for you on each of your card or loan |
| Is my agreement unenforceable? | | | | agreements. Please take a moment to visit What is |
| There are some initial easy questions to ask: firstly | | | | an unenforceable agreement? and take the two |
| did you sign the agreement for your card or loan | | | | minute test to see if you qualify. |
| before 6th April 2007? Secondly do you have an | | | | |