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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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Section 77A(6)() - has the effect of entitling me to a refund

Customer Question

Section 77A(6)(b) - has the effect of entitling me to a refund of interest due to the lender's failure to remind me of my right to voluntarily terminate my agreement.
I've heard somewhere previously that such failures can give rise to a refund of ALL sums under the Agreement. Is that right? Thanks.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you with this.
Sadly not. I have checked the legislation and case law and nowhere does it say you are entitled to a refund of ALL sums under the agreement. The purpose of Court proceedings is to put you back into the position you would have been in should the breach not have occurred.
In this case your only loss is that of interest, not all of the repayments.
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 for you about this today please?
Expert:  Ash replied 2 years ago.
If this answers your question could I invite you rate my answer before you leave today.
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