Unfair Credit Agreements

Unfair Credit Agreements are entered into by millions of consumers across the UK each year. Here we will examine what exactly it is that makes a Credit Agreement Unfair, and how you can free yourself from these Unfair Credit Agreements.

What are Unfair Credit Agreements?

Unfair Credit Agreements are debts, which due to the terms they were drawn up under, are deemed to be unfair on the consumer. This means that they have a case for having the Credit Agreement terminated.

What makes a Credit Agreement Unfair?

Unfair Credit Agreements are those which fail to comply with the Consumer Credit Act (1974.) This outlines the terms under which Credit Agreements should be drawn up and stipulates that all Credit Agreements must be clear and transparent, so that the consumer knows exactly what they are entering into. If this is not the case then the Credit Agreement could be deemed to be unfair and therefore unenforceable.

What types of Credit Agreements can be found to be Unfair?

Most types of Credit Agreements, which involve both the lender and the consumer to sign a written document can be found to be unfair, including:

• Credit and store cards
• Secured and Unsecured loans
• Consolidation loans
• Car finance Agreements

The following are the Criteria for Credit Agreements that can be deemed to be Unfair:

• The Credit Agreement must be regulated by the Consumer Credit Act (1974)
• The Credit Agreement must have a minimum balance of £1000 and usually have more than 12 months left to run

What happens if my Credit Agreement is found to be Unfair?

If you are found to be the victim of an Unfair Credit Agreement, then the Credit Agreement will be immediately cancelled and the debt wiped clear.

How do I find out if I am the victim of Unfair Credit Agreement?

The first step to finding out whether or not your Credit Agreement is unfair is to contact us on 0800 038 2233 and speak to one of our friendly team who will be happy to advise you further.