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Frequently Asked Questions

UNENFORCEABLE CREDIT CARD AND LOAN AGREEMENTS

Can I Claim Against Any Credit Agreement?

A Credit Agreement you have, as a result of taking out a Credit Card or Loan, may be challenged. However, the Credit Agreement must be between £1,500-£25,000


Can I Make The Claim Myself?

Yes, you can, however it is unlikely your lender will settle without the threat of legal action. As this is a legal challenge based on complex law, it should not be perceived as a ‘Loophole’ to write off your debts. Our Panel of Solicitors is highly skilled in this specialised area. An audit (evaluation) is carried out for each claim by our Claims Specialists to ascertain what within the prescribed terms of your Credit Agreement render it potentially unenforceable.


Why Have These Issues Come To Light?

This information has been in the public domain for some time, however, given the current economic turmoil, we, the consumers, are now fighting back.


What Does The Term ‘Unenforceable’ Mean?

When an agreement is unenforceable, it literally means that the terms of the agreement may not be enforced by the lender. One of the terms of your Credit Agreement is to repay the sum borrowed, so if the Agreement is unenforceable you would not have to repay the outstanding amount.


Can I Still Claim If I Am In An IVA Or Debt Management Plan?

Yes. We can still make a claim on your behalf, providing we assess your Credit Agreement is potentially unenforceable.


Will I Get Back Any of The Past Payments I Have Made On My Credit Card or Loan?

No, you will not, and please do not let any claims company tell you otherwise! The goal when challenging a potentially unenforceable credit agreement is to not have to repay the current balance.

Should the case ever go to court, you have to remember that it is a Judge who decides what is fair and just, and even if it is proven that your Credit Agreement is unfair, and therefore unenforceable, you still had the money and you spent it. In light of this, to not have to repay the money is a truly successful outcome.

Should any other claims company offer to ‘write-off’ your credit card or loan AND get all of your past payments back, ask them for documented evidence of this. Remember, receiving money back as compensation for a Mis-sold Payment Protection Insurance policy is not the same, and should not be confused with reclaiming past loan or credit card payments


Can I Claim For A Loan Or Credit Card That I Have Already Paid Back?

You CANNOT challenge a credit card or loan that has been redeemed, as the debt has already been repaid. YOU CAN CLAIM COMPENSATION FOR ANY PAYMENT PROTECTION INSURANCE YOU HAD ON THAT LOAN, as long it was paid off within the last 6 years. You can reclaim compensation on a mortgage or re-mortgage if it has been redeemed in the last 12 years.


How Much Does It Cost?

Our fee is £95.00 per Credit Agreement claim. This fee also includes any claim for a potentially Mis-sold Payment Protection Insurance policy taken out with the loan or credit card. This includes all aspects of your claim from the initial audit of your Credit Agreement through to the legal challenge, should our Solicitors deem it unenforceable. The fee is Non Refundable.

We also require a cheque or postal order for £11.00 to cover the administration fee charged by the lender to provide a copy of your full file.


When Do I Pay The Fee?

Our fee is paid, in full, prior to commencement of the claims process. The additional cheque or postal order for £11.00, made payable to the lender, is submitted to us with your application forms. This covers their mandatory administration fee for providing a full copy of your file.


Apart From The Initial Fee, Are There Any Other Hidden Costs?

NO. There are NO FURTHER FEES you have to pay during, or on completion of, the claims process.

We do deduct 25% of any compensation we successfully reclaim for you for a Mis-sold Payment Protection Insurance policy accompanying the loan or credit card. This is done automatically when the lender pays what is owed. We then forward the balance to you.

Should your case be handled by our Solicitor, we have private funding available from a major equity investor to take your case through the LEGAL PROCESS, without any further cost to you. We also work in association with a large City Insurance Firm who provide AFTER THE EVENT INSURANCE so you are represented on a NO WIN NO FEE basis. This ensures you do not incur any further costs apart from the initial fee you pay at the commencement of the claims process.

Only a few claims companies currently specialize in genuinely challenging Unfair Credit Agreements and successfully clearing their clients’ outstanding Credit Card and Loan balances. Many of them charge a percentage of the cleared debt, which in essence, is putting the client back into debt again.

Debt Solutions prides itself on being one of the few who does not charge their clients a percentage of the cleared balance upon successful resolution of the case. £95.00 is the only fee you will pay. We are also unique in that we combine reclaiming Mis-sold Payment Protection Insurance AND challenging the potential unenforceability of your credit agreement as a combined service for just £95.00


What If The Solicitor decides That I Do Not Have A Valid Claim?

If this is the case, and you are legally required to repay your current debts, we will endeavour to help you find an appropriate alternative solution to reduce your outgoings to a realistic and affordable level.


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