Mrs A was declared bankrupt as a result of her creditor (lender) enforcing a Regulated Credit Agreement due to her being in default.
We discovered that the Credit Agreement breached the Consumer Credit Act thus ruling unenforceability. Mrs A’s bankruptcy was subsequently annulled, the Credit Agreement was written off and the lender had to pay back all monies paid to the lender by Mrs A including costs. Mrs A’s credit record was wiped clean.
---------------------------------------------------------------------------------------------
Mr B entered a regulated HP Agreement with a loan company to purchase a car. Mr B failed to maintain his repayments. The loan company threatened repossession of the car.
We discovered that the HP Agreement breached the Consumer Credit Act thus ruling unenforceability. Mr B agreed settlement where the lender wrote off the Agreement, returned to him all the money he had paid under the agreement including costs and destroyed all the adverse information held by the Credit Reference Agencies. Mr B retained possession of the car.
---------------------------------------------------------------------------------------------
Mr & Mrs C entered a Fixed-sum Loan Agreement with their Bank to pay for home improvements. The loan was secured against their home. Mr & Mrs C failed to maintain their repayments and the Bank issued possession proceedings.
We discovered that the Fixed-sum loan agreement had been incorrectly executed thus making it unenforceable. The loan agreement was written off and the security on their home was released. All costs in the matter were paid by the Bank.
---------------------------------------------------------------------------------------------
Mr D contacted a Debt Management company with a view to entering an IVA. He had several creditors chasing him for money outstanding under various Credit Agreements.
We discovered that most of the creditors Credit Agreements were unenforceable and they were subsequently written off. Therefore Mr D had no reason to enter an IVA.
