- Credit Cards &
Personal Loans - PPI Claims
- Bankruptcy
- Debt Management Plans
- Voluntary Arrangements
- Refinancing
- Debt Consolidation
- For Individuals
- For Businesses
- FAQ's
- Articles & Links
- Our Complaints Procedure
Debt Solutions Southwest Ltd is regulated by the Ministry of Justice in respect of regulated claims management activities. Its registrations is recorded on the website www.claimsregulation.gov.uk
Debt Solutions Southwest Ltd is fully licensed by the Office of Fair Trading to provide debt management and credit broking advice.
Debt Solutions Southwest Ltd is a debt management business based in the South West of England, providing a full debt management and credit advisory service to individuals and businesses.
The Consumer Credit Act 1974 states that personal loan agreements (which include credit cards, personal loans and mortgages) must be drawn up in a certain way and include various ‘prescribed terms’. If the loans agreements do not meet these strict rules, they could be unenforceable against the borrower. This means that lenders (or their agents) will be unable to legally compel you to pay the debt. It might sound too good to be true, but it is true!
Also, if the lender has treated you unfairly by overcharging on costs and penalties, etc., you will be able to reduce substantially the amount you owe on your loans or cards.
Many credit card agreements can be unenforceable because some lenders’ disregard of the strict requirements of the Consumer Credit Act. Personal loan and mortgage agreements are less likely to be unenforceable, but it is still wise to challenge them to find out whether they are legally binding, or if the lender can even find a copy!
more details & find out if we can help you
If you have entered into a credit card or personal loan agreement before 7th April 2007 and have an outstanding balance on your card, the debt could be completely unenforceable because:
a) The lender is unable to supply you with a true copy agreement prescribed by law, or the document provided is not an ‘executed agreement’ within the meaning of the Consumer Credit Act 1974 (The Act), or
b) The agreement provided is defective in that it does not comply with all the provisions of The Act and its accompanying Regulations 1983. In particular, it does not contain all the ‘prescribed terms’.
c) There are other technical and legal reasons why the agreement is defective.