RE:Credit Consumer Agreements

Squibble

Hi,

I was wondering if somebody can clarify the position. I went to the solicitors today(not sure if she was fobbing me off) to instruct to act for me. I was told due to the court ruling they are no longer doing the court has ruled all credit agreements are enforceable?

Please can someone clarify if this is true????

Thanks

ILW

I am sure if you look around you will find a solicitor who will represent you. They will want their fees up front though.

dunstonh

I was told due to the court ruling they are no longer doing the court has ruled all credit agreements are enforceable?

That's not 100% correct although the rulings in the test cases in December all found in the favour of the lenders and virtually made it impossible for people to shirk their responsibilities unless it's a clear breach. Most of the things that the claims companies have been trying have failed so far. There are some more cases to go through but its unlikely they will succeed. One key thing ruled was that lenders can keep debts on your record even if you were to get it made unenforceable. Therefore preventing you from getting credit again. If that involved a secured loan, you wouldn't be able to move or sell your house.

ILW

Squibble wrote: »

Hi,

I was wondering if somebody can clarify the position. I went to the solicitors today(not sure if she was fobbing me off) to instruct to act for me. I was told due to the court ruling they are no longer doing the court has ruled all credit agreements are enforceable?

Please can someone clarify if this is true????

Thanks

I suppose theres always the option of paying some money to your creditors, rather than solicitors. Just a suggestion.

~Brock~

Squibble wrote: »

Hi,

I was wondering if somebody can clarify the position. I went to the solicitors today(not sure if she was fobbing me off) to instruct to act for me. I was told due to the court ruling they are no longer doing the court has ruled all credit agreements are enforceable?

Please can someone clarify if this is true????

Thanks

If your solicitor has got any sense, and wants to keep on the right side of the SRA, then she wouldn't touch that kind of work with a bargepole.

Just out of interest, however, what made you go to the solicitors in the first place? In what way have you been wronged by your lender?

Jamesf81

Depends on the situation really.

If the loan company has made a clear breach of the Consumer Credit Act ie, incorrect amounts of credit, wrong APR, genuine mis-selling of PPI then no consumer should be put off making a claim as it is their right to have the creditor produce a correctly executed agreement.

Rather than go down the route of i dont want to pay anything back which alot of people seem to do(and ruin it for those in genuine difficulty) go for recision of contract. Pay back what you have leant or you may already have. Then the contract would be no more as if you never took it out.