Unenforceable Credit Card Agreements
Do you have a credit card which was taken out before April 2007?
Credit card contracts must comply with the law, more specifically the Consumer Credit Act. If your agreement with the provider does not comply,
then you may have a case to have the outstanding balance declared unenforceable. This means that you will not have to repay the debt. Over half of the agreements that
we see fall into this category.
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Unenforceable Credit Loan Agreements
The outstanding amount that you owe on a loan could be written off if your loan or credit agreement is invalid or unenforceable.
Loans and credit agreements must comply with the terms set out in the Consumer Credit Act. The Consumer Credit Act is a law which was established to protect your rights as a
consumer. One of the key principles of this law is that there must be “truth in lending”, so that you can clearly see what you are paying for and avoid any hidden costs. Unfortunately,
many lenders and brokers have not fulfilled their obligations in this respect. In fact, many of the loan agreements that we see contain figures which are incorrect, inaccurate, missing and
even misleading. If your loan agreement breaches the Consumer Credit Act, you may have a case to have the outstanding debt declared unenforceable.
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PPI
Typically Payment Protection Insurance (PPI) policies are sold alongside loans, mortgages and other credit agreements (such as car finance and in-store loans for items
such as furniture or kitchens).It is estimated that there are 20 million active PPI policies in the UK. Of these 20 million policies, it is thought that between 50% and 70% may have been mis-sold, that's a staggering
10million+ policies!
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Mortgage Endowments
Is your endowment mortgage facing a shortfall? If so, act now! Figures released by the Financial Services Authority (FSA) estimate that over six and a half million
people in the UK may face endowment shortfalls. Yet only a fraction of these people have registered a complaint and some are now time-barred (time limit in which a complaint can be
considered, usually following a projected shortfall letter from your policy provider) If your endowment mortgage is projecting a shortfall, you may fall into the category of people that
were mis-sold endowment mortgages. In many cases, customers were led to believe that they would be left with a lump-sum when the policy matured and were not made aware of the risks associated
with an investment-linked mortgage. In other cases, an endowment policy simply wasn’t the most suitable product given a customer’s individual circumstances. In accordance with rules
introduced through The Financial Services Act 1986 and the subsequent Financial Services and Markets Act 2000
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Bank Charges
Have you been charged for any of the following events?
Exceeded overdraft limit
Direct debit or standing order stopped
Cheque not honoured
Credit limit exceeded
You may be entitled to reclaim them back, with interest!
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