Consumers 'may have a claim' due to flawed credit agreements

Residents of Basingstoke could be able to claim back thousands of pounds thanks to flawed credit agreements, a local newspaper has reported.

The Basingstoke Gazette noted that recent legal changes - including the amended Consumer Credit Act, which came into effect in April 2007 - may have resulted in irregularities in the small print of many agreements.

If contracts are found to contain misrepresentations of business terms, people may be entitled to compensation, explained financial claims management "master agent" David Joyce.

He added that the contracts in question could cover several kinds of agreements, including situations in which clients have received charges for unexplained commissions.

According to the Office of Fair Trading, the Consumer Credit Act requires the majority of firms that lend money or offer services and goods on credit to be licensed.

Furthermore, the act sets out the requirements for the way in which hire and credit arrangements are set out and what information they must contain. ADNFCR-2353-ID-19323167-ADNFCR

20/08/2009 17:11

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