If you signed up to a credit card or load before April 2007 then you could see you outstanding balance written off or reduced.
Is your credit card or loan based on an unenforceable agreement?
Sometimes referred to as an unenforceable, unfair, or flawed credit agreement, your credit card, store card or personal loan agreement will probably be regulated by the Consumer Credit Act (“the Act”). The Act was recently modified, some of which came into force in April of 2007. So if you have a card or loan agreement taken out before the 6th April 2007 you may have a claim.
The Act outlines strict rules to which card and loan providers (lenders) must adhere to which gives the customer rights when entering into a new card or loan agreement.
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