How Do I Know If My Credit Agreements Are Unenforceable?

This is a commonly asked question by millions of consumers since the recent changes to the Consumer Credit Act ( 6th April 2007). Due to the almost schoolboy errors that many banks and lending institutions have made with our loan and credit card agreements many consumers are getting interested in finding out whether they too can claim and have their loans and credit card balances legally wiped off without affecting their credit file. In fact in certain circumstances the opposite is actually true, because when a loan is found to be unlawful and illegal it is actually legally removed as if it never existed in the first place, so any missed or late payments on that persons credit report are also removed thus affecting their previous negative file in a positive way, so the loan's removal is doubly rewarding!!

There are several factors affecting whether or not the credit agreement is legal and enforceable by the banks, the main ones being:

*The lender failed to provide all of the relevant information in the credit agreement, therefore breaching the Consumer Credit Act.

*The lender did not provide an agreement in the format allowing correct execution of the loan.

*The lender failed to use the correct method of calculating the APR or total amount repayable.

*The lender is either unwilling or unable to provide copies of the original loan agreement or any supporting documentation.

*The lender or their representatives failed to sign the original documentation.

*The lender failed to disclose any commissions or payments that they either received or paid in the original document.

*The lender inadvertently included an ancillary product in the credit agreement.

These are the main reasons for the loan becoming unenforceable, but the law surrounding this area is fairly complex and some other more obscure issues can lead to the agreement being illegal or unlawful, so it is worth having your documents scrutinised by a specialist lawyer in this area.

Be under no illusion as long as your credit agreement, loan, credit card, store card, or even secured loans under £25,000, was created before April 6th 2007 and still has an outstanding balance then there is a good chance that there may be flaws in the agreement and you may get it removed...just take a moment and think how much better off each month without all of your credit agreement monthly instalments, it's making you feel better just thinking about it isn't it?

At Renaissance we offer a no win no fee service that is both swift and efficient...our legal team are first class and well versed in this specialist area and will fight any corner for you with tenacity and skill, so if you think you may have a loan or card that may qualify please get in touch today..