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Unenforceable Loan Agreements > Consumer Credit Act Claims

May 9th, 2008

Consumers who have taken a Personal Loan, Motor Finance or a Mortgage are being urged to dig out their Loan Agreements and have them reviewed by a Consumer Credit Act legal expert, this is the opinion of the Loan Claims Team at Pinto Potts Solicitors.

Loan Debt Can be ErasedMounting Loans and Debt can lead to stress 

At Pinto Potts Solicitors we have seen many Loan Agreements that have been incorrectly drafted or executed by the lender, the most common examples being wrong APR amounts and figures placed in the incorrect sections of the loan document, there are numerous other errors that have been found on loan documents that render them potentially unenforceable.

If the loan agreement is not correctly completed or executed the liklehood is that the loan will be deemed unenforceable and the debtor (the customer/borrower) will not have to continue making payments.

At Pinto Potts Solicitors we aim to help people with loans recieve financial compensation by proving their loan agreement was fundamentally flawed and is invalid and unenforceable, the end result being consumers no longer have the burden of their debt.

A review of loan documentation is a quick, easy and free process and if we believe your loan agreement is flawed the case can be handled on a No Win, No Fee basis, for loans to be eligable the “Amount of Loan” or “Cash Amount” should not be over £25,000 and the loan should have been arranged prior to 2008.

In addition many Consumer Credit Act compensation claims for unenforceable loans are also eligable to claim for a refund of Payment Protection Insurance and interest that may have been added at the time of signing the loan agreement. 

If you have a loan that you believe may be unenforceable contact Pinto Potts Solicitors or call us on 0800 316 4434 for immediate expert advice on Consumer Credit Act compensation claims.

 

 

 



Payment Protection Insurance Claims

May 9th, 2008

Payment Protection Insurance (or PPI) is failing many of those who need it most, adding to their debts instead of protecting them against hard times, a report from a national debt charity has found.

Payment Protection Insurance

The report found that Payment Protection Insurance, which is sold to cover credit payments in the event of illness or job loss is often very expensive, mis-sold to people who cannot possibly claim on it, and designed to exclude many of the most common situations that can lead to debt problems.

There are an estimated 20 million PPI policies in force in the UK producing annual revenues in excess of £5 billion for the insurance companies. The report concluded that Payment Protection Insurance was more about providing an additional source of profit for the financial industry than protecting consumers.

Problems occur in nearly all sectors of the consumer credit market – from non-status mortgage lenders and hire purchase companies to major high street banks and credit card companies.

The insurance premium paid can be as high as 40% of the value of a loan and has to be paid for by borrowing more.  It is common for interest to be charged on PPI premiums in credit agreements. 

Borrowers are often sold completely inappropriate policies when they take out credit agreements.  In many cases high pressure sales or inertia selling are used to force people to take out insurance that they cannot afford, do not want or need, and cannot benefit from.

“If you think you may have been mis-sold Payment Protection Insurance contact Pinto Potts Solicitors who are PPI Claims Specialists, claims are handled on a No Win, No Fee basis, successful cases will result in a refund of the full PPI premium plus interest.”

Contact Pinto Potts Solicitors for immediate advice on a Mis-Sold PPI Claim

When Payment Protection Insurance documentation is reviewed it can also lead to a claim to have the entire loan overturned and declared unenforceable, meaning the customer (the Debtor) will no longer have to make any payments. 

PPI Policies sold by several well-known mainstream lenders have been found to exclude cover for common problems like bad backs and mental health problems that can stop people working. Many also have arbitrary age limits and ban the self-employed and those on fixed-term contracts from making a claim.

Even where people are able to make a successful claim, the amounts paid out do not guarantee to keep them free from debt.  Some insurance only pays out for a year, and then only covers minimum payments.

Delays in the payment of claims can trigger spiralling debt and administration charges, leading to borrowers being pursued by debt collectors and the threat of court action.

Bad practice in the sale of Payment Protection Insurance is also often linked to irresponsible lending. Cases have occured where consolidation loans advanced to borrowers already in financial difficulty are rolled over several times, with a new PPI policy sold each time, increasing the debt significantly.

Examples of PPI Cases:

A lady in Cornwall who had taken out a secured personal loan with her partner. They had since separated and she was now struggling with the repayments. Although the client had signed the application and received a copy, she was unaware that the cost of the PPI premium increased the loan from £17,800 to £22,962, and attracted interest at the same rate.

A Surrey man had been sold a loan protection plan although he had long-term mental health problems.  An additional £2,200 was added to his £8,900 loan for the PPI. At the time of signing the  agreement the client was very unwell and was not aware of what he was signing. The bank was aware of the client’s situation and that the client might not be eligible for the insurance protection policy.

A Worcestershire couple in receipt of income support were sent pre- approved applications for a credit card with a credit limit of £600. They accepted the card but were then pestered to take out insurance, despite repeatedly saying that neither of them were in work. The credit card provider said that it would provide cover in the event that the card-holder did get a job.

Top tips on Payment Protection Insurance include:

  1. Decide whether you actually need this insurance. It’s costly and may well not be worth it.
  2. Always read the small print and make sure it’s right for you. Check before signing any credit or car finance agreement that PPI is not included automatically – it should always be optional.
  3. Check out the common exclusions to make sure that you and all your circumstances are covered.
  4. When taking out a loan or a credit card over the phone always listen carefully to what you are signing up to.  
  5. Always ask the insurance company for a copy of the payment protection policy, this is either the summary of cover or a certificate
  6. Check to see if your life assurance is a cheaper way of making sure that a loan will be repaid if you die.  Your employer’s sick pay scheme may be enough to cover repayments should you become ill.
  7. Be aware that insurers can reject claims on the basis of age, self-employment, pre-existing medical conditions, mental health problems and disputes about medical conditions.
  8. Always check that the insurance will cover the whole debt.
  9. Make sure you know who your insurer is and how to contact them in case you need to make a claim.
  10. If you think you have been the victim of mis-selling or find your claim is refused unreasonably, speak to a specialist. Pinto Potts Solicitors are experts in Payment Protection Insurance and will aim to achieve a full refund of the PPI premium, plus interest, claims are handled on a No Win, No Fee basis.


Asbestos Claims > Asbestos Compensation In The UK

April 18th, 2008

Asbestos Claims - Asbestos was formally regarded as a wonder substance due to its heat resistant properties. Regrettably exposure to asbestos has also caused large numbers of people to suffer from disabling and life threatening medical conditions. Since the 1930s it has been recognised that asbestos was capable of causing disease, and you can claim compensation in some cases.

Despite this the wide spread use of asbestos did not cease until the 1980s and exposure to asbestos still continues whenever and wherever it is removed. Asbestos exposure causes five main medical conditions.

These are; Read the rest of this entry »



Carbon Monoxide Poisoning Can Cause Death In 20 Minutes

April 16th, 2008

Carbon Monoxide cannot be smelt, seen or tasted. Many people do not understand the true danger of Carbon Monoxide Poisoning until it’s too late. Exposure to carbon monoxide can lead to death within 20 minutes. Read the rest of this entry »



Airline Passenger Injury Claims - Injured on a Flight

February 27th, 2008

Injury Claims against airlines

Travelling by aeroplane is always a little stressfull, but most of the time plane flights pass off without any problems.

However, on occassion things can go wrong and when you are on a plane, 30,000 feet in the air it can be a very distressing experience.

At Pinto Potts Solicitors we have specialist Lawyers experienced in winning compensation claims for a wide range of accident and injury claims that happen during an airline flight.

Read the rest of this entry »



Spinal Cord Injury Claims

December 18th, 2007

Spinal Cord Injury

What is a Spinal Cord Injury?

A Spinal Cord Injury is defined as damage or trauma to the spinal cord that results in loss or impaired function causing reduced movement or feeling. Common causes of damage to the spinal cord result from trauma, such as a car, motorcycle or road traffic accident, falls, assault, sports injuries and industrial or household accidents.

How can we help?

Compensation can provide a vital lifeline following a spinal injury, allowing victims to improve their lifestyle and independence. As spinal injuries can be life changing and often have a massive impact on day to day living, compensation awards tend to be substantial.Pinto Potts Solicitors have a specialist department that handle spinal injury claims, our lawyers are experienced in dealing with the complexities that come with large claims for compensation and have access to a network of specialists and experts to ensure the process of claiming and rehabilitation are made as easy as possible.

Read the rest of this entry »



Dirty ambulances spread superbugs MRSA & C Difficile

November 27th, 2007

Ambulances spreading MRSA & C Difficile

Dirty ambulances could be contributing to the spread of Hospital Superbugs like MRSA & C Difficile a union has warned.

Poor cleaning arrangements and a lack of resources is adding to the problem, a UK-wide survey for the union found.

“Urgent action” has been called for to get dirty ambulances off the road.

A spokesman for ambulance staff, said comprehensive guidance on cleaning ambulances was available. But they said extra cash was needed as well as the introduction of mandatory rules.

Read the rest of this entry »



Pinto Potts Estate Agents - Fleet Branch Now Open

November 26th, 2007

Pinto Potts Estate Agents in Fleet

Pinto Potts Solicitors are delighted to announce the opening of their Estate Agents at the office in Fleet, Hampshire.

The Estate Agency brings a new concept in property buying and selling to Fleet and the surrounding area by offering a unique “everything under one roof” service, with the Solicitors, Estate Agents and Home Information Pack departments all in the same building at 34 Reading Road South, Fleet (just off Fleet High Street).

Read the rest of this entry »



The Cost of No Car Insurance - a timely reminder

November 2nd, 2007

Fail to renew your car insurance on time and you could find yourself paying far more than a fine.

Having no car insurance is an offence under the Road Traffic Act which upon conviction can result in a fine of up to £5,000, between 6 and 8 penalty points and possible disqualification. The costs in terms of increased insurance premiums and in a worst case scenario possible loss of livelihood are not the only potential costs.

Have an accident whilst not insured which turns out to be your fault and those costs can escalate rapidly.

Read the rest of this entry »



Sponsor of Aldershot Town FC - Advertising Board and Matchday Programme

October 25th, 2007

Aldershot Town FC play in the Blue Square Premier League, formally known as the Conference. This is one league below the football league two, currently topped by Milton Keynes Dons.

The match day programme is the clubs primary means of communication with the clubs supporters and with over 30 editions produced this year it will reach a vast audience.

Home games at the ‘Rec’ regularly attract over 4000 fans. Aldershot Town FC are firing on all cylinders under the guidance of manager Gary Waddock.

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Pinto Potts Solicitors

Pinto Potts LLP
Manor Park Chambers
304 High Street,
Aldershot, Hampshire,
GU12 4LT. UK

Tel: 0800 316 4434