Consumer Credit Law
If you have entered into a consumer credit agreement and require legal advice, we can help. Our consumer credit lawyers, based in Birmingham, can provide expert advice on challenging unfair consumer credit agreements.
Credit Agreement Lawyers Birmingham
Our barristers check your agreement to ascertain whether they comply with consumer credit Regulations.
Credit agreements may be Flawed if:
- The agreement does not state, or incorrectly states the amount of credit.
- Credit/store cards do not state the credit limit or level of monthly repayment.
- There is no rate of interest.
- The agreement does not state how the borrower is to repay any credit by specifying the number of instalments, the amount of repayments, when they are due, their frequency and timing, and any powers available to the creditors to vary what is payable.
- A consumer hire agreement does not contain information as to how a hirer is to discharge his/her obligations.
- The agreement is not signed.
- In the case of cancellable agreements, failure by the creditor or hirer to include, in an agreement or copy, notice of the right to cancel (in the prescribed form), or failure to supply a separate notice of a right to cancel where it is required.
There are other situations where an agreement can be challenged, which is why a detailed analysis is made on each individual agreement by a barrister and an agreed debt management or reduction programme is discussed with you before contact is made with creditors. We legally assist you having the balance or part of the balance cleared.
Some people believe it is wrong to use the technicalities of the law as a means of assisting debtors in avoiding payments. The main provision of the Consumer Credit Act is that there is openness and honesty in lending. If these principals are to be respected, it is necessary that any irregularities can be identified and, if necessary, challenged.
There are many people with flawed agreements who may choose not to challenge it. If you are facing a challenge in meeting your obligation, having a flawed agreement may provide you with negotiation powers.
Contact Pegasus
Call us on 0121 455 8347 or click here to make an enquiry.