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Unfair Credit Agreements- The Background
Under the terms of the Consumer Credit Act 1974, in order for loans or other Credit Agreements to be legally binding they need to be drawn up correctly. If this is not the case, then the Credit Agreement could be deemed unfair and unenforceable. In other words, the lender cannot legally enforce the terms of the contract on the borrower. Effectively, this means that if a Credit Agreement is rendered unfair, then the borrower has no obligation to uphold the terms of the contract and the lender cannot challenge them for non-payment.
For many years, people have been challenging Credit Agreements because they do not conform to the Consumer Credit Act 1974. Consumers have successfully challenged lenders all the way to the House of Lords. The first example, and that which set a precedent was that of Wilson and Others v. Secretary of State for Trade and Industry (2003).
Historically, challenging Unfair Credit Agreements on your own has typically been a very expensive and lengthy process, which only a select few have been able to complete.
Help, however, is at hand. Credit Clear UK now offers everyone the chance to check that their Credit Agreements conform to the terms of the Consumer Credit Act. Using a dedicated team of legal professionals, we arrange to have your Credit Agreements audited by solicitors in order to check if they are Unenforceable. If this is the case, you will be allocated Solicitors who will litigate on your behalf to get your Credit Agreements wiped out.
Why Use Credit Clear UK?
- You only pay an initial £95.00 upfront to determine if you have a claim
- 100% Refund policy if our audit report indicates your Credit Agreement is enforceable
- Apply and Submit your Claim Online
- Access to dedicated online case tracking system
- Complete transparency with no completion costs
