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What advice can you give me about challenging my loan/card agreements under C.C.A. 1974? |
Submitted on: 14th May 2009 by Non-Member | Total Answers: 1
There are many companies advertising their services to instruct solicitors to challenge the legality of such agreements signed before 1 April 2007. The cost is very much lower than an IVA or bankruptcy and there is a lot less pressure on the debtor. The Citizens Advice Bureau cannot advise on the legalities of this, so the debtor is only able to achieve this via one of the companies. Some charge too much, but a quality legal service can be provided by others at reasonable cost. Cases are being settled by creditors out of court because they dont want the publicity, there are also legal precedents in other cases finding for the debtor. Why do you make no mention of this service? Is this site simply an advertisement for IVA companies?
Re: What advice can you give me about challenging my ...
The difference is that the debt cancellation won't be around much longer - all cases have been suspended bar a few test cases.
Debt law is based on if you can pay you will pay, and rightly so. Thats how capitalism works.
If you CAN''T pay then you are insolvent and there are procedures in place to resolve the situation. Bankruptcy, IVAs, debt management, PTDs, admin orders and DROs being examples. All good ways of resolving a problem with your creditors within the law.
There are already measures in place for extortionate credit and fraud (for example), but paying someone to challenge a credit agreement when you have had a cheque for several thousand pounds on the basis of "it wasn't filled in right" does nothing for anyone.
So it depends on what grounds you want to challenge your credit agreements. Why do you think they should be challenged.
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