Unenforceable Loan Agreements
Unenforceable Loan Agreements Prior To April 6 2007
Many thousands of loan agreements have been found to be unsafe following a revision of the 1974 Consumer Credit Act. As a result, many thousands of unenforceable loan agreements have been discovered. Are you one of the people with such an unenforceable loan?
Our experts will obtain permission to look at the original credit contract to see if it contains the details which have been required since April 2007 on all such agreements. Such items include a signature (seems obvious, but some credit agreements used to be filled in by automated methods and actually lack a signature) a list of specific charges being made and a detailed account of any aspects required by the consumer laws.
Having unenforceable loan agreements does not mean that such debts are written off, although in some cases further work can be done to clear the debt from your credit record. In reality, all it means is that the creditor may not bother you to repay this particular loan. If he does he may be in trouble.
This has been described as a loophole in the law. But it isn’t really a loophole at all. It is a perfectly legitimate way of exposing unenforceable loan agreements and similar agreements which have been hastily drafted and which have not kept up with the changes in legislation that have been made to protect consumers from increasingly greedy lenders.
To see if your credit agreement is unenforceable then apply in confidence by using the following:
We are compliant with the CAN-SPAM Act. We will not pass your name or any other details to third parties apart from the specialist solicitor who will need to know these details in order to help you.
All correspondence is confidential.
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