Yes you may be entitled to compensation, this is mainly if your were miss-sold payment protection insurance (PPI).
The fee Vantress would charge is 25% of any compensation you receive.

Why are some credit agreements unenforceable?

Quite simply because the Lender has not conformed to the terms of the Consumer Credit Act.

What type of agreements can be checked?

We can check whether you may have a claim on any credit agreement, these include Personal Loans, Car finance, H.P (Hire Purchase), Secured Loans, Credit Cards and Catalogues.

In the majority cases these need to have been taken out before 6th April 2007, and the amount borrowed was under £25,000.

What type of agreements CANNOT be checked?

We can check any credit agreement that is regulated by the consumer credit act.

Some agreements may have certain restrictions on the claim.

If payment protection insurance (PPI) was sold with the agreement you may still have a claim for compensation against the Lender which we can help you with.

I have a HP agreement on a car would I have to give the car back?

No. Once the Solicitor comes to a settlement with the Lender, the Lender agrees that you do not make any further payments on the loan, and you get to keep your goods/cash.

I have a credit agreement on a timeshare holiday, would lose the right to my holidays?

No. The timeshare company has usually been paid in full and you the owe the finance company by the way of the credit agreement. If the credit agreement is unenforceable you make no further payments on the debt but the agreement for the timeshare is still okay.

I have a secured loan on my house would I lose my house?

No. Providing you continue to make your contracted payments to the Lender, you are not in danger of having your home repossessed. If you're having problems keeping up your payments then we can also help you.

Does this affect my credit file?

Yes it could have an affect on your credit file. A court has decided that a credit file is NOT enforcement action. However it is up to the court at the time what if anything is recorded on your credit file. In addition, if a CCJ is stopped or set aside that would improve your credit file.

What if I cannot afford the loan repayments while Vantress is dealing with my claim?

If you're having difficulties, we can discuss with you ways in which we may be able to help you.

Will I have to go to court?

Not normally. If there is a Court Hearing your Solicitor and/or Legal Counsel, will represent you at the Court Hearing. You can of course attend should you so wish.

What does unenforceable mean?

On regulated credit agreements taken out before 06/04/07 a judge has no discretion and cannot enforce that Credit Agreement, so the credit agreement is UNENFORCEABLE.

This means you still owe the money but the lender has no way of forcing you to pay.

It also means if you have had a judgment made against you and possibly other enforcement action, it can be overturned.

What does a charging order mean?

If a lender has successfully obtained a county court judgment against you, they can apply for a warrant of execution. One of the options is a charging order. Basically this makes the debt a secured loan which can attract statutory interest at a rate of 8% per annum.

What does a forced sale mean?

Once a charging order has been obtained, the debt is now secured on the property. The lender can now apply to the court for an order to force the sale of the property to recover the debt. So unbelievably a credit card, personal loan, HP or many other credit agreements could end up secured on your property and even mean you're evicted from your home.

If you have any further questions please either telephone 0800 311 2075 or email us at questions@vantress.co.uk