By now a lot of
people have discovered that if they have credit card or loan agreements
which were taken out prior to 6th April 2007 they may be unenforceable
if they do not contain certain details which are now mandatory. Unenforceable
credit card agreements exist if these agreements lack such details,
known as the 'prescribed terms'.
If you're being
harried by a debt collector then there's even more chance that the debt
is unenforceable. They buy their debts in bulk (for around 10p in the
£1) and usually won't bother with the correct documentation. So
they won't know if it's enforceable or not and they won't risk losing
a court case to find out!
So find out if your debts are unenforceable: it costs nothing to apply
today. Our
legal team is highly specialised, so your case will be in the hands
of true experts, unlike a lot of companies offering similar services
which have surfaced recently.
This applies
to any of the following types of credit agreement (not just credit cards):
Credit Card
Secured and Unsecured Loan
Store Card
Car Loans/Finance (up to £25,000 each)
Unenforceable
Credit Card Agreements: Minimum criteria:
1 You must intend to write off any UK credit card debt
or UK loan debt
2 Resident of England, Wales, Scotland or Northern Ireland (or living
abroad with a UK card or loan)
3 Have unsecured debts of over £5,000
4 Have at least one credit card or loan
5 The Credit Card or loan taken out before 6th April 2007
You must have unsecured
debts greater than £5,000 and you must be making
total repayments of over £120 per month.
If you qualify in
terms of all the above, and if you really want to write
off your credit card debt and/or other debts, then apply in confidence
by using the following:
Please note: Total
monthly payments referred to in the above form is the total
value of what you pay each month, not the number of different payments
that you make. This figure must be greater than £120
per month.
Establishing that
your account is unenforceable means that the debt cannot
be collected; it will not make the debt disappear. It will probably
remain on your credit file for 6 years, unless the debt itself is proven
to be in error or a factual mistake.
All correspondence
is confidential.
We are registered
under the Data Protection Act. Reg. No. Z1620707
We are licenced
by the Office of Fair Trading. Consumer Credit Licence No. 633327
Unenforceable
Credit Card Agreements and Debt: How does it work?
The Consumer Credit
Act of 1974 allows borrowers to challenge unfair credit agreements.
Credit Agreements up to £25,000 and issued before 6th April 2007
must comply with the terms of the Act. Many UK banks and lenders have
not followed their legal obligations under the Act over the years. This
means that your credit card agreements (and other types of loan agreements)
may be legally unenforceable. Recently, a high percentage of those agreements
that have been challenged have been found to be unfair and unenforceable.
The result is that the debt cannot be collected. Establishing that your
account is unenforceable will not make the debt disappear. It will probably
remain on your credit file for 6 years, unless the debt itself is proven
to be in error or a factual mistake. Only then can the debt be eliminated
from your credit file.
We take details
of your debts and our specialist legal team challenge the agreements
with the lenders. They obtain documentation on your behalf and then
verify the legality of the contract. Our legal team will then, via specific
correspondence, prove that your agreement is not valid. As such it is
deemed to be unenforceable.
Unenforceable
Credit Card Agreements: An IVA Is A Different Instrument But CAN Be
Used
Please note that
tha main subject of this website is not debt management
plan or IVAs, where the debt is written off over 5 years.
However, we can
put you in touch with IVA and debt management specialists, if that should
be suitable to your own circumstances.
Find out if you
qualify for an IVA.
Fill in the application
form here.
Unenforceable credit
card agreements before April 2007