Unenforceable Credit Agreements: Making You Debt Free

With the incidence of bankruptcy and personal debts on the rise, many a consumer or even small business owners are left feeling overwhelmed by their out of control credit debts. If you are in a such as situation, and are praying for a miracle that will make your credit debts disappear, well then, there is one just waiting to happen. Indeed, it is not divine intervention that is going to help you clear your debts for you. Instead it is the credit company itself! Perhaps you have heard about companies that promise to help you do just that, stating that most credit agreements are unenforceable. So how do you go about proving this?

For starters, it is the devious nature of most credit agreements that come to the rescue of unassuming customers, just like you and I. If you carefully peruse your credit contracts you will notice the mention of what is termed the Consumer Credit Act, which first came into effect in 1974 and was thereafter updated in 2006. This law provides regulations that define and lending policies including credit cards as well as personal and even unsecured loan, in an effort to make lending a mutually reasonable arrangement. This Act sets forward certain testing criteria to assess the credit agreement with regard to interest rates and redemption penalty clauses. Making the credit agreement open for scrutiny has brought to light that most such contracts do not follow the regulations set forth by the Act thus deeming them potentially unenforceable.

So is your credit agreement really unenforceable? While this sounds bizarre, it is essentially true. In fact, most credit agreements signed in the United Kingdom before April 2007 may not really conform to the Act and are therefore unenforceable. In fact, there are changes in the nature of the law which are responsible for making those agreements that have not been modified to take into account the newer policies unenforceable, and this is not merely a loophole.

It thus brings us back to the original question. Are there credit agreements that can be proved to be unenforceable? Yes! That is indeed accurate, factual and very feasible and could apply whether you have debt via unsecured loans or credit cards, or even PPI insurance which can be reclaimed as most were mis-sold to customers who often didn’t need them or we never eligible to claim in the first place!

There are companies who undertake this procedure on your behalf, and may ascertain if your agreement falls under the unenforceable category by submitting your agreement details via the Internet. This may then proceed to an investigation phase where reports are submitted based on an audit with your credit company. An initial fee for each credit agreement may be charged, depending on the levels of service required. If your credit agreement is proved to be unenforceable, a lengthy legal procedure is initiated, which may be over a period of months and then your debt can be disregarded completely. In the end, by establishing that your credit agreement is in fact unenforceable you can claim a debt write off and be free of your credit debt forever!

Write Off Credit Card Debt

You may be surprised to learn that it is thought that many credit agreements from the banks are flawed in one way or another, and 20 percent of the agreements may not even be worth the paper the contract was written on.

The Consumer Credit Act of 1974 insists upon strict terms and conditions that must be written into the contract that you have signed. For example, the interest rates must be clearly stated and correctly calculated, and often this is simply not the case. In some cases these agreements aren’t even signed!

You can write off your debts and claim compensation on anything from credit cards, credit card fees, secured and unsecured loans, bank charges, store cards and especially the payment protection insurance plan which was probably mis-sold to you.

If you’ve taken any kind of credit agreement or loan before April 2007 you might be able to have the debt written off completely and legally by using a solicitor on a no win no fee basis.

Get your solicitor to request a copy of the credit agreement from your lender. This agreement will then be closely audited to see if it does in fact comply with the 1974 Consumer Credit Act. If breaches are found in the credit agreement, it may be unenforceable.

The solicitor will write to the lender on your behalf, so you don’t have to do anything. The process will take about nine months depending on how long your credit company take to respond to the request for the documentation.

This is not debt management, an IVA (Individual Voluntary Arrangement) or bankruptcy. The service is free to use and you don’t have to pay anything until you’ve won.

For far too long banks and credit card companies have taken their customers to the cleaners, charging ridiculous rates and exorbitant fees for late payments, reducing the credit limit so the customer now has exceeded their allowed limit and then charging another fee. On top of this, we pay even more yearly fees for the “privilege” of having one of their credit cards.

It’s your turn to see if you can write off your debts. It’s legal, fair, justified and could save you thousands of pounds. Use the law to write off debts and restart your life debt free, and free from the day to day worry that you can’t pay your bills.

DE-PRESSURISING PAYMENT PROTECTION

Unfair Credit Finance Agreements

Unfair Credit Finance Agreements

If you have borrowed money in the past through a credit card, or consolidation loan, you may be eligible for receiving a refund. If it is found that you have been charged money unlawfully because the lender has not complied with the credit act of 1974 you are entitled to the refund of your money. Of course this is not going to be done on a voluntary basis; you must apply for this action. If a debt is found to be unenforceble it can be reduced or completely discharged.

Clear Your Credit Card Debt

Free Yourself of Credit Card Debt

In the cur rent times of economic crisis, credit card debt has become widespread. If you are paying just the minimum monthly dues on your credit cards it is perhaps a futile attempt to get rid of the debt. In reality, this approach of clearing your credit card debt may take years as you are probably only paying off the interest portion of the credit, judging by the high interest rates that most credit card companies charge.

Now a solution presents in the form of making credit card claims to clear your credit card debt. So how can this happen? Well, most credit card users are unaware of one basic fact about lending companies, which is that in all probability your credit cards company cannot enforce the loan or credit agreement because of legal hassles. In fact, this is slowly gaining recognition, and many users are becoming aware that clearing their credit card debt is not so hard after all.

So, now you know that clearing the huge credit card debt is not so complicated, here is how you approach the problem. The first step is to get in touch with a mediator to approach the lender with the request to make a claim. This is best done by hiring a professional solicitor or company that specialises in making credit debt claims. This is because the right way to approach the lender is crucial to ensure that your loan agreements are unenforceable thus contributing to the success of your claim.

The next step is to identify the actual loans and credit debt that you wish to make a claim against. This can include your credit cards, loans, financial agreements and even mortgages. Once you have listed out your individual claims, you will need to provide the account and credit cards details to the company your hired to take care of the claims. The final claim will depend on the actual credit loan amount due, and it is best to let the same company handle all your credit card claims if you hold multiple accounts. The company then handles the necessary paperwork to arrange an audit at the lender location that will analyse any breaches on the lender’s part which then qualify you to a claim. Once the grounds for dispute are ascertained it is only a matter of time before the solicitor helps you to clear your credit card dues so you really are debt free!

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