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The United Kingdom’s Professional Financial Consumer Rights Experts
Frequently Asked Questions
| What is an Unenforceable Credit Agreement ? How do I find out if my Credit Card or Loan is Unenforceable ? What if I do not have a copy of my Credit Agreement ? What if my Lender doesn't provide a copy of my Agreement ? What happens if my Agreement is Legally Unenforceable? What if my Lender refuses to agree with the Solicitors ? How much will it cost me ? Is the Administration Fee I pay to the Solicitors refundable ?
Whilst the Solicitors are dealing with my Credit Agreement, will I still have to make payments to my Lender ? |
| What is an Unenforceable Credit Agreement ? |
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In practical terms, an Unenforceable Credit Agreement is a Credit Card or Loan, where the content of the Agreement has failed to comply with the requirements of the Consumer Credit Act 1974 and therefore the outstanding balance will not need to be repaid |
| How do I find out if my Credit Card or Loan is Unenforceable ? |
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The Solicitors we refer Clients to will use their Legal expertise in the area of Consumer Credit Law to evaluate your Credit Agreement to discover if it complies with the Consumer Credit Act. The Solicitors will then write to you to confirm their conclusions |
| What if I do not have a copy of my Credit Agreement ? |
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The Solicitors service includes formally requesting a copy of your Credit Agreement and additional information from your Lender, therefore, it does not matter whether or not you have a copy of your Agreement |
| What if my Lender doesn't provide a copy of my Agreement ? |
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The Solicitors will formally notify your Lender that they believe your Agreement is Unenforceable unless they can supply a copy of the Agreement. They will then request the Lender agrees that the outstanding balance is no longer repayable and removes any adverse information registered with the Credit Reference Agencies |
| What happens if my Agreement is Legally Unenforceable ? |
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If the Solicitors conclude your Agreement is Unenforceable they will formally notify your Lender of the reasons they believe your Agreement is Unenforceable. They will then request the Lender agrees that the outstanding balance is no longer repayable and removes any adverse information registered with the Credit Reference Agencies |
| What if my Lender refuses to agree with the Solicitors ? |
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The Solicitors will threaten and eventually issue Court Proceedings against the Lender seeking a Court Order forcing the Lender to agree that your Credit Agreement is Unenforceable and the outstanding balance is not repayable |
| How much will it cost me ? |
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The fee payable to the Solicitors is detailed in our accompanying letter and is referred to as their Administration Fee. Your Lender may also charge you a fee of £11 to provide a copy of your Agreement. No fee is payable to our Company as the Solicitors will pay us a Referral Fee. If the Solicitors conclude your Agreement is Unenforceable, they will then agree to represent you and pursue your Claim on a No Win No Fee basis* |
| Is the Administration Fee I pay to the Solicitors refundable ? |
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If the Solicitors win kyour Unenforceability Claim, the Administration Fee you have paid in respect of the particular Agreement will be refunded by the Solicitors. If your Agreement is not Unenforceable the Administration Fee will not be refunded as the Solicitors will have already conducted a significant amount of work on your case |
| Whilst the Solicitors are dealing with my Credit Agreement, will I still have to make payments to my Lender ? |
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If you wish to preserve your crediut file and do not want to risk your Lender reporting your missed payments to the Credit Reference Agencies, you should continue to make payments. However, if you are not concerned about Credit Reference Agencies and wish to stop making payment, you should discuss your options with the Solicitors after they have concluded their evaluation of your Credit Agreements |
| If I decide to proceed, will my Lender harrass me or report me to the Credit Reference Agencies ? |
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You are only exercising your Consumer Rights, therefore your Lender is not allowed to engage in any form of harassment and if you continue to make your regular payments to your Lender, they cannot report adverse information to the Credit Reference Agencies |
| Are All Credit Agreements before April 2007 Unenforceable ? |
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No, it depends if the wording and content of the Agreement has complied with the Consumer Credit Act 1974. However, our Solicitors have already discovered that many of the Countries largest Lenders Credit Card and Loan Agreements are Unenforceable |
| What does a No Win No Fee* basis mean ? |
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A Conditional Fee Agreement on a No Win No Fee basis means that as long as you fully cooperate with the Solicitors advice, if they lose your case you will not have to pay them a fee. If they win your case you will also not have to pay them a fee, because they will claim their fees from the relevant Lender |
| Can I use your Solicitors without going through Loan Free ? |
| Yes you can. However, because we have negotiated significantly reduced fees with our Solicitors, if you do decide to go direct although you will receive exactly the same Service it will cost you between £220 and £50 extra for each Agreement they investigate. You will also not have the option of spreading your payment over two or three months |
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If you use our Solicitors to investigate your Credit Agreement and a Court Summons has been issued or is issued against you for an amount of over £5,000, the Solicitors will provide you with a defence on a No Win No Fee basis |
| Can you help if I have a Court Judgment or Charging Order ? |
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Depending upon the circumstances our Solicitors may be able to help, however the Solicitors normal fees may not apply. Therefore, you should telephone ourselves to discuss your particular situation |
| What if my Debt is with a Debt Collection Agency ? |
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The Solicitors can still investigate your case and if your Agreement is Unenforceable your debt will not have to be repaid |
| What if I am not making payments or I am making reduced monthly payments to my Lenders ? |
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The Solicitors can still investigate your case and if your Agreements are Unenforceable your outstanding balances will not have to be repaid |
| What if I am in a Debt Management Plan ? |
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The Solicitors can still investigate your case and if your Agreement is Unenforceable your debt will not have to be repaid |
| If my Agreement is Unenforceable, will I get Compensation ? |
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Compensation is not guaranteed, but in certain circumstances the Solicitors will claim compensation. However, if you win your Claim the Solicitors will refund the Administration fee you have paid to them |
| Will I be able to meet my Solicitors ? |
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After the Solicitors have investigated the enforceability of your Credit Agreement and they confirm that the Agreement is Unenforceable they will discuss how they intend to progress your Claim. They will then invite you to meet with them at their Central London offices or if you would prefer they will discuss these matters over the telephone |
| What if I took my Agreement out after 6th April 2007 ? |
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Unfortunately, the Solicitors can only deal with Credit Agreements that were taken out before the 6th April 2007 |
| What if I took out my Credit Card before April 2007 but have received replacement Cards ? |
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If you originally applied for your Card and signed your Agreement before 6th April 2007 even if you have received replacement cards, as long as you have not signed a whole new Agreement your Credit Card may still be Unenforceable and can be investigated by the Solicitors |
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