Article Title: Unfair Loan Agreement Claims Made Easy
Under the Consumer Credit Act of 1974 a person can make claims to have his/her outstanding debt freezed if the loan agreement written by his/her loan agreement provider is considered as "unenforceable" under the Act.
If you find that you have signed up to an unfair loan agreement, you can use the agencies which specialised in helping victims of unfair loan agreements seek compensation. These agencies could "audit" your loan agreements between £5,000 and £25,000 on various financial products (e.g. personal loans, secured loans, auto/car loans, and credit/store card loans).
The unfair loan claim process will not be done overnight since it involves a lengthy process of negotiations between the agency representing you and your loan agreement provider. A fee will be charged by the agency prior to carrying out assessment on your loan agreement. The agency will need copies of your original loan agreement if you still have them; otherwise they will then contact your lender concerned and obtain the relevant loan agreement through the official procedure.
Listed below are some of the steps an unfair credit agreement claim agency may ask of you in order to make an unfair loan claim on your behalf:
1. You will need to complete and submit an online claim short form, telling them a few personal details of yourself such as; name, address, email, phone numbers, etc.
2. The agency will then contact you over the phone and explain to you how they could help you to claim compensation for the unfair loan on your behalf.
3. After that the agency will post you a claim pack that includes a letter of authority that allowing one of their claim specialists/solicitors to deal with your loan agreement provider. You will need to provide them copies of your original loan agreement if you still have them.
4. Once the agency receives all the above information and documents they will assess the said loan agreement and evaluate the claim. They will notify you that how they could help you to challenge your lender if they see the loan agreement to be unenforceable under the Consumer Credit Act of 1974.
5. You can now authorise the said agency to act on your behalf to claim for compensation of any outstanding unfair loan. On settlement of your unfair loan claim you normally keep 100% of settlement plus any interest.
One of the best things about making unfair loan agreement claims though an agency is that it is less hassle, i.e. you will never have to deal directly with your loan agreement provider; the agency that works on your case will have an UCA claim specialist or legal team talk to the lender/loan provider on your behalf.
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