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Consumer Credit Act Disputes
If you are involved in a dispute over consumer credit, the solicitors at JMW will be able to advise you on the best steps to take to resolve your situation. Our team can help bring your dispute to a resolution with minimal impact to you or your business.
Contact JMW now for help with a consumer credit dispute. Either call us on 0345 872 6666 or fill in our contact form and a member of our commercial litigation and dispute resolution team will be in touch with you soon.
About Consumer Credit Disputes
Disputes involving credit agreements are usually very complex and if you are involved in a dispute of this kind, it is essential to seek legal advice as soon as possible.
The Consumer Credit Act (CCA) provides protection when agreeing to most financial arrangements, including:
- Secured and unsecured loans
- Credit card agreements
- Bank loans
- Hire purchase agreements
- Conditional sale agreements
The CCA provides strict guidelines that must be adhered to. A credit agreement must be in writing, signed by both parties and contain all the terms of the agreement, including the levels of repayment.
If the agreement relates to hire purchase, the agreement must state certain specific terms and obligations, including:
- The purchaser cannot sell the goods until the hire purchase agreement has been settled
- The purchaser has a right to terminate the agreement once half of the repayments have been made
- If less than one third of the repayments have been made, the lender can repossess the goods without a court order. If one third or more has been paid, a court order will need to be requested to repossess the goods
Challenging a Consumer Credit Agreement
If you can demonstrate any of the following, you may be able to challenge a credit agreement:
- A failure to advise about/adhere to the repayment terms of the agreement
- Non-compliant paperwork at the beginning of the agreement
- Failure to follow the correct termination process
- Failure to identify options post termination
- Undue pressure/extortion
What to Do If a Dispute Arises
If the rules set out by the CCA are breached, JMW can assist in resolving a dispute. For example, if a hire purchase agreement for a new car has been entered and half of the balance has been paid, we can help end the agreement and return the car if a lender is forcing repayments. Likewise, if a purchaser wishes to return a car before paying half of the balance, we can help ensure repayments up to the halfway point are still made by the purchaser.
It is important that you receive legal advice about your rights and obligations under a consumer credit agreement.
Why Choose JMW?
As one of the North West’s leading law firms with a team of talented and experienced solicitors, you can rest assured you are in good hands. Our commercial litigation and dispute resolutions team has been helping individuals and businesses resolve disputes for over 25 years and is skilled in resolving consumer credit disputes amicably.