Unenforceable Credit Agreements

barshamhillbilly

Are you saying that you don't think the agreements are valid ?

Bodi_2

no apparently my 2 loans are non enforceable but i would not like this to effect my credit rating.

If i can get away with through legal process great if not i would rather pay.

barshamhillbilly

Bodi wrote: »

no apparently my 2 loans are non enforceable but i would not like this to effect my credit rating.

If i can get away with through legal process great if not i would rather pay.

Why are they unenforcable ?

Bodi_2

i can find out but apparently the CCA does not have all the require information to make it enforceable.

barshamhillbilly

I would reaaly want to be 100% before I even considered disputing it!

Bodi_2

yeah agreed....if you had an agreement and was 100% sure....would you dispute it ?? loaded question i know

fermi

There has been plenty of discussion of this on the Credit Cards and loan forums.

I'll bump this over there. Would be a good idea to search those boards for past discussions as well.;)

MrsTinks

Bodi wrote: »

That's not quite what the companies who offer to do this for you say is it.... I take it they are just fluffing it up to make it sound good.

The clue is in the question... companies...
Their job is to make money... they do that by SELLING something to you - in this case a service - if that service leaves you worse off that isn't really their problem it's yours

It's a LAST resort - certainly nothing to start on unless your credit rating is pants anyway... And how do you know they are unenforcable unless you have already requested the CCA's?

dolally_2

Bodi wrote: »

yeah agreed....if you had an agreement and was 100% sure....would you dispute it ?? loaded question i know

To be honest I think you should continue paying out of moral obligation and because you have already stated that you can.
On the legal side of things, it is a very long, drawn out process which can take several months and your best chance would be if no cca exists at all. In reality it is a much more difficult process than these companies might lead you to believe and if it doesn't work you credit rating will be severely affected which will lead to you paying more for future credit, presuming you can get it in the first place.

I wouldn't fancy your chances with egg either - from what I have read on the consumer advice site they are slippery so and sos!

Bodi_2

how could it effect my credit rating if i keep up payment through the process.