Q: What Agreements can I have audited?
A : Any credit agreement between £3,000 and £25,000 that is governed by the consumer credit act of 1974. The original
agreement must have been signed before 4th April 2007.
Eligible agreements include:
- Credit Cards and Store Cards
- Unsecured Personal Loans
- Consolidation Loans
- Car Loans / Finance Agreements
- Secured Loans
- Hire Purchase
Q: I am not sure if I have the original agreements anymore, I guess that means you can't help me?
A: You don't need the original agreement as we can write to the lender requesting their copy, under the terms of the consumer
credit act the lender is legally bound to release a copy of your agreement.
Q: How long will it be before I know whether I have a claim or not?
A: As soon as your completed documents are received and after the 14 day cooling off period has expired, it should take no
more than 60 days to audit your Credit Agreement.
Q: Is there an upfront fee?
A: Yes there is and this differs depending on which claim you are having processed, All fees are fully refundable if there is no
claim to pursue. This upfront fee covers the cost of the administration and the advice, including the audit to determine if you
have a claim or not.
Q: What does 'unenforceable agreement' actually mean?
A: It literally means that the terms of the agreement may not be enforced i.e. one of the terms of your agreement is to repay
the sum borrowed so if the agreement is unenforceable you would not have to repay the outstanding amount.
Q: What happens if I pay an audit fee and then the claim is unsuccessful?
A: You will receive a full refund. The products are processed on a true 'no win no fee' basis.
Q: Will the process of auditing my credit agreement have an adverse effect on my credit score?
A : No there is no impact on your credit profile by the claims company and their legal panel assessing your credit agreement
to see if it is enforceable. This is a common concern but to request your credit agreement is your right under the consumer
credit act and declaring an agreement as unenforceable (where found to be) is your right as a borrower.
Q: Can I stop paying my monthly payments to the lender?
A: NO, you must continue to make your monthly payments on all credit agreements until instructed otherwise by the
litigating solicitor.