Examples of Successful Unenforceable Credit Agreement Claims

Usually, people know little about a loophole, which often exists in many credit agreements that may be an indication for many people of their loans repayment. Those who have taken out more than £25,000 by utilising their credit cards, personal loans, agreement of hire purchase, car loan or overdraft before April 07, not only these credit agreements, but some other charges as well can become unenforceable in some specific sort of situations.
According to the Consumer Credit Act 1974, there are some very strict requirements that some lending institution like banks and some credit card company must meet. In other words, your lender has to produce a signed and properly executed credit agreement, which was regulated at the time of this agreement.
To make some loan enforceable, it is essential to meet all the requirements of this act. If any of these given requirements aren't met, the loan is considered unenforceable and it is possible that you may not have to pay even a single penny for the amount you have borrowed. If the given requirements are not met, you are no more obliged for repayment.
You can find some important information in your loan documents to find out whether your loan has become unenforceable or not. You must go through these documents carefully whether your lender in the percentage charges has factored the cost of PPI or not. If you find no evidence of the inclusion in your loan documents, you are eligible to carry investigation of your loan for possible invalidity. It is possible that you may not have to pay your loan any more and similarly, credit card application or original loan can be erased from the credit report as well.
You can also go through any of your old debt and credit card statements and can easily check the charges as well as costs of interest. If you notice some incorrect calculation in your statement, it can be a valid reason for the investigation of your debt as unenforceable. It is possible that the limit of your credit card will be increased without your consent or taking any prior permission. If you haven't requested for this increased limit, it is possible that your credit card facility might be reckoned as unenforceable.
If the charges that have been applied to the amount of your loan are not utterly disclosed, your debt may also be reckoned as unenforceable and it is possible that your debt will vanish without making repayments any more.
If you find any of these scenarios quite similar to your debt, you need to seek professional help in this connection ,as only a professional can tell you better whether your claim for unenforceable credit can prove effective for you or not.
There are several examples of successful unenforceable credit agreement claims, but it is also true that every claim can't be successful and that's where you need to seek professional help, as only a professional can tell you better about the possibilities of a your claim success.
Simon P Jennings is a financial expert. Take opinions of professionals and advise for Unenforceable Credit Agreement now at http://www.claimsadvicecentre.com
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