Write Off Loan FAQ's

Is it legal to challenge loan / credit card debts?
What debts can be challenged for unenforceability?
How long does it take to process?
How much does it cost?
Will I have to close my credit card / loan account?
Will I need to go to Court?
What are the risks involved?
Can I obtain further credit in the future?
Can you reclaim settled debts?
How do I apply?

Is it legal to challenge loan / credit card debts?
All unsecured credit has to comply with the terms and conditions set down in the Consumer Credit Act 1974. Unfortunately for the lenders, someone made a hiccup when they were issued and subsequently they are not enforceable in a Court of Law. This allows our specialist team of Solicitors to legally challenge loans, credit cards and most other forms of unsecured debt that falls into this category.

What debts can be challenged for unenforceability?
Credit Cards, Store Cards, Secured Loans, Unsecured Loans, Car Loans or Car Finance can all be potentially be challenged for enforceability.

How long does it take to process?
This will depend on the amount of debt you have. Once we calculate this, we can then give you an approximate timescale.

How much does it cost?
Nothing. We only recommend companies that do not charge upfront fees for auditing your claim.

Will I have to close my credit card / loan account?
Yes. It is highly unlikely that your current lender / creditor will keep you account open if we are sucessful.

Will I need to go to Court?
It is highly unlikely you will have to attend Court. Most lenders will not let it get this far as they know the Terms and Conditions are flawed. In the unlikely event that it does, our partner’s specialist lawyers will be there to guide you through the process.

What are the risks involved?
There aren’t any. Our partner’s specialist lawyers have extensive experience in law and will pick up any issues in the application stage.

Can I obtain further credit in the future?
There is a possibility that your credit rating may be affected which may affect you obtaining further credit in the future, but this would depend on the circumstances between you and your creditors and is entirely on a case by case basis.

Can you reclaim settled debts?
It is highly unlikely that any settled debts can be recovered, although loans or credit cards that are included on a Debt Management Plan or IVA can be challenged. Give us a call and speak to one of our experienced Advisors to discuss this.

How do I apply?
Simply fill out the form to see if you qualify and one of our partner’s experienced Advisors will call you back. They will go through your details and get you on the road to debt freedom!