Financial Irregularities - Loan Mis-Selling
Credit Crunch!!
Feeling the pinch
Eliminate Loans or Finance Agreements Legally.
Have you entered into Loan or Finance Agreement for over £5,000 to a maximum of £25,000 on or before April 2007?
When people take out Mortgages, Loans or other forms of borrowing there are certain regulations and requirements that Lenders, Brokers or others who arrange these loans have to comply with. Often they don't.
For instance if there is a relationship between the person arranging the loan and the lender and you do not get advice about other more preferable products available. This can mean that you end up paying excessive interest on the borrowing. Some people actually get landed with extortionate interest rates.
Very often you are encouraged to take out a policy of insurance with the loan to cover against accidents, sickness or job loss. These ‘ASU’ or what are commonly better known as ‘Income Protection Policies’ often have huge premiums, which are added to loans rather than paid monthly. Research has found that either you don’t need these were you have existing insurance in place or the policies are likely never to pay out if you default on the loan or mortgage through redundancy or illness.
More than anything be aware that those who set up these policies may receive huge commission payments.
If this fact has never been disclosed to you prior to finalising the loan then it becomes a ‘secret commission’ which you will likely be paying for your self. If that is the case then the commission and the premium can be cancelled and the lot paid to you!
That is on top of any excessive interest on the loan itself.
In extreme cases the loan itself can be cancelled altogether whether you have paid it off or there is money outstanding.
We will look at Loan/Mortgage offer letters and applications forms for no fee and if there is a case will pursue them on a ‘No win, no fee’ basis.
Don’t think this doesn’t apply to you, it could .
