What if you can't find the paperwork for the loan?
We will ask you to sign a Section 77/78 Form which is then sent to the lender requesting a copy of the original loan agreement to be returned to us. Lenders have 42 days to comply with this request causing a delay to your claim. It is always better to try and conduct a thorough search for any documents first.
What is the minimum claim considered?
Most other companies will only consider claims for loans over £5,000. We will consider all valid claims.
Will this wreck my Credit Rating?
No. If the credit agreement is unenforceable the outstanding debt can be legally written off. The lender cannot record defaults against you should this happen. However, that particular lender can choose not to accept your custom in the future.
Can I make the claim myself?
Yes you can, but you have a much greater chance of success when you have solicitors working for you. You might also have to go to Court to get the loan declared unenforceable. You might end up paying costs should you not present correct arguments and lose. Before taking any Court action we will on your behalf, engage solicitors to thoroughly check and audit your credit agreement and personal circumstances, thus ensuring only cases having a realistic chance of success are presented to Court. Should you wish the case to go to Court further documentation explaining all the terms and conditions will be presented to you for consideration and agreement. This might include a 'conditional fee agreement' commonly known as a 'No Win No Fee' agreement. Be aware that No Win No Fees agreements do not always mean No Win No Costs as some disbursements made by solicitors are payable. Likewise if you subsequently decide not to continue fees might be chargeable.
Does it matter if I am in an IVA?
We can still help, however a proportion of the money reclaimed/written off will have to be paid into the IVA. We suggest you speak to your IVA supervisor for personal advice on this matter specific to the terms of your IVA.
Does it matter if I am on a Debt Management programme?
Not at all.
What if I am no longer within the loan or policy?
You can make a PPI reclaim if the following are all true.
- You took out the loan within last 6 years.
- You still have the paperwork.
- You didn't make successful claim against the policy.