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Loan Dispute

Loan Dispute Solicitors

If you've been mis-sold a loan or taken one out and then been hit with additional hidden charges you didn't agree to, the agreement may not be legally enforceable.

At Lawhive, our network of experienced litigation lawyers can help you understand and enforce your rights under the Consumer Credit Act 1974.

Contact us today for a free case evaluation and quote for the services of a specialist lawyer.

• What is a loan dispute?

• What are common reasons for loan disputes?

• How can the Consumer Credit Act 1974 protect me in a loan dispute?

• What makes a loan unenforceable?

• What types of loans can be disputed?

• What if my loan was missold?

• Can informal or verbal loan agreements be disputed?

• How do I resolve a loan dispute?

• Can I handle a loan dispute myself, or do I need a solicitor?

• How can a solicitor assist with debt recovery in a loan dispute?

• How do I get in touch with a solicitor for my loan dispute?

What is a loan dispute?

A loan dispute arises when borrowers and lenders disagree on the terms of a loan agreement or how it's being handled.

What are common reasons for loan disputes?

Loan disputes can arise for many reasons, such as:

• Missold loans

• Hidden costs not disclosed upfront

• Issues with the terms of the loan agreement

• Breaches of the Consumer Credit Act 1974

• Missold financial products, like Payment Protection Insurance (PPI)

• Problems with the broker or hidden commissions.

How can the Consumer Credit Act 1974 protect me in a loan dispute?

The Consumer Credit Act 1974 offers significant protections for borrowers. It applies to hire purchase agreements, running credit arrangements (like credit cards), and loans up to £25,000. If a lender breaches the Act, the debt may be unenforceable. This means they can't legally force you to repay the loan.

What makes a loan unenforceable?

A loan can be unenforceable if:

1. The lender breached the Consumer Credit Act

2. The loan or associated financial product was missold

3. There were hidden commissions or undisclosed fees

4. There were issues with how the loan was sold or managed by the broker.

What types of loans can be disputed?

Disputes can arise with various types of loans, including:

• Bank loans

• Business loans

• Car loans

• Commercial loans

• Consolidation loans

• Credit cards

• Family loans

• Hire purchase agreements

• Home loans

• Personal loan agreements

• Secured loans

• Store cards

What if my loan was missold?

If your loan was mis-sold, you might be entitled to compensation or have the debt declared unenforceable. Mis-selling can include being given incorrect information about the loan, not being told about important terms, or being sold unnecessary financial products like PPI.

Can informal or verbal loan agreements be disputed?

In the UK, verbal agreements can be just as valid as written ones, providing they include all the elements of a legally binding contract.

Informal or verbal loan agreements can be disputed. However, it's always best to have a written contract to avoid misunderstandings.

How do I resolve a loan dispute?

Start by reviewing your loan agreement and gathering any relevant documents. Then, try to communicate with the lender to resolve the issue. Sometimes a simple conversation can resolve the situation.

If that doesn't work, consider seeking legal advice. A solicitor can help determine if the debt is enforceable and advise on the best course of action.

Can I handle a loan dispute myself, or do I need a solicitor?

While you can handle some aspects of a consumer credit dispute yourself, having a solicitor can be very helpful, especially for complex issues.

A solicitor can provide expert advice, help you understand your rights, and represent you in negotiations or court if necessary.

How can a solicitor assist with debt recovery in a loan dispute?

A litigation solicitor can help by:

• Advising on the enforceability of the debt

• Writing demand letters

• Negotiating with the debtor

• Taking legal action if necessary

How do I get in touch with a solicitor for my loan dispute?

For expert legal advice on loan disputes and debt recovery, schedule a call with our Legal Assessment Team.

They can assist you in taking the first steps and provide you with a fixed-fee quote for the services of a specialist solicitor should you choose to take action.