my name is ***** ***** I will help you with this.
please let me know when you took out the credit agreement?
The rules changed a few years ago under the Consumer Credit Act 2006.
This means that before where if there was a breach of the prescribed information then the agreement is automatically unenforcebale.
Now its changed.
This means it can be enforced through the courts.
But what you should do is write and complain about the interest rates.
They will investigate the matter and report back to you.
If you are still not satisfied then you can take it to the Ombudsman. They offer a free, independent service and can be found at: www.financial-ombudsman.org.uk
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest
Can I clarify anything about this today please?
One further clarification. I beleive that this means that moment, the agreement is unenforceable, without a court order to allow them to inforce the debt?
Surely it would be reasonable to presume that a court would make decision based upon intentions.
Yes a Court order is needed.
The Court will look at the intent of both parties yes.
Would it a reasoable to say to the finance company, that a court may reduce the total payable based upon the lower interest rate stated on the agreement?
That is something you could raise with the financial Ombudsman
Okay. I think it worth a conversation first. I will call in the morning. Thanks help. It seems that there isn't a definitive answer as it would depend upon the discresion of the court if it ever went that far.
Yes that is right. Its not hard and fast.
Well I guess it's not bad news. Thanks help!
Can I clarify anything else ?
Well, since you asked... Does this not constitute an unenforceable contract on the grounds of mistake, or of their not being a 'meeting of the minds'?
This is simply an enforcement argument.
okay. that's all I have. Thank you.