How Write off loan works...

The Consumer Credit Act of 1974 allows borrowers to challenge unfair credit agreements. Credit Agreements up to £25,000 and issued before 6th April 2007 must comply with the terms of the Act. Most UK banks and lenders have not followed their legal obligations under the Act over the years. This means that your credit agreements may be legally unenforceable. Recently, a high percentage of those agreements that have been challenged have been found to be unfair and unenforceable. The result is the debt can be written off as it cannot be collected.

We have independent experts who review each case. We are supervised by a qualified insolvency solicitor with 17 years experience. We take details of your debts and our specialist legally qualified team challenge the agreements with the lenders. They obtain documentation on your behalf and then verify the legality of the contract. Our experts will then, via specific correspondence, prove that your agreement is not valid. As it is unenforceable, they will demand the card company to write off the debt. In any event you do not have to pay anything further as the agreement would be unenforceable.

Our Write off Loan Pack contains all the information and documents you need. You can request one from our web-site or by Contacting Us here. We can start your claim as soon as you return the required documentation and fee(s).

In what circumstances do these agreements not comply?

Most lenders have not included all of the key points in their credit agreements. These are known as prescribed terms. In some cases, the lender may be unable to produce an original copy of the agreement. In each case the agreements will be unenforceable.

How long does it take to go through the Write off loan process?

This depends upon various parameters. First, your lender must produce a physical copy of your agreements within 42 days of our request. If they cannot do this, they are in default and your outstanding balance can be written off immediately. This could be a matter of weeks. Second, the response times from lenders to our requests for information and confirmation that the debt has been written off can vary. Typically 6-12 months should be allowed because the card companies are being very slow in providing the relevant documentation.

What happens if my lenders contact me after I start a claim?

Our experts will deal directly with your lenders. This should stop them contacting you to discuss the debt. If they do, you should not answer any questions or get into conversation but ask them to put any correspondence in writing. We might be able to use this to win your case.

Do I qualify?

Contact Us and speak to one of our experienced advisors