Consumers are being urged to continue the battle against lenders collecting legally unenforceable debts and many companies are out there claiming they can clear your credit card and personal loan debt through a “loophole” in the legislation.Credit Issues is one of the more reputable, Ministry of Justice approved, firms that has successfully challenged in excess of £1.5 million of consumer debt and increasing demand for its services has resulted in the firm aiming to challenge £10 million of consumer debt over the course of the year.
But isn’t increasing awareness and encouraging consumers to act just a scam or taking advantage of a loophole though? Many people seem to take the entirely moral standpoint of being unwilling to entertain an attempt to challenge any unsecured personal loan or credit card debt on the basis that they “knew, or should have known, what they were getting into”. This course seems to be “running away” from a debt obligation and rewarding lack of prudence, planning and foresight.But the same accusation could be levelled at pretty well every lender, all the financial institutions, major clearing banks, most MPs and all the elite political class at the moment!
The issue may not be whether it’s a defensible ethical course, but rather whether sufficient preparation and professional assessment has been undertaken by the credit management company to ensure that they are not wasting your time by taking on a case that has no real chance of success just to make a fast buck! Lenders are making some £9 billion a year out of interest and fees from what very well may have been irresponsible lending, but if the contract between two parties breaches prescribed terms under current UK legislation (Consumer Credit Act 1974) it is not enforceable by the lender or the Court.
People whose finances were capable of supporting the commitments they made only a few months ago may now find themselves in an untenable position thanks to redundancy or a reduction in household income. Circumstances for which they are entirely blameless, so why not look at any legitimate means of challenging and reducing your total debt?The lender cannot force you to pay the debt back and they do not have the right to sell the debt on to a debt collector or any other third party and provided you select specialist advice from an advisor or company registered with the UK Ministry of Justice, you can at least challenge a significant proportion of your unsecured debt.
Credit Issues is just such and approved organisation and has successfully pursued almost £ 1milion worth of debt so far this year, challenging enforceability through scrutiny of “true copies” of agreements.Several recent, successful, English court cases against well-known lenders have concluded with District Judges consistently ruling that the debts were being disputed on substantial grounds and that the agreements were indeed unenforceable. Most recently, the Credit Issues team successfully removed one client’s liability to credit card debt, despite it being assigned by a major lender to a debt collection agency, and he was able to clear the entire balance of £16,029.50.
Irrespective of who the credit card or unsecured loan provider is (even if that debt has been “sold” to a debt collection company) and even if the requested “true copies” original agreements that form the basis of many of these successful cases are available, so long as the balance is over £2,000 Credit Issues could help challenge or reduce the balance of your credit card or unsecured loan and also reclaim any mis-sold payment protection insurance or accident sickness cover together with interest.
That’s not a scam or a get-out. It’s a legitimate and entirely defensible avenue open to hard pressed families, who through no fault of their own, face severe debt worries. The only caveat consumers should bear in mind is the importance of choosing a firm with a specialist legal team and proven published details of successful cases.