Consumer Credit Solicitors - Protecting Your Financial Rights

Consumer credit problems can seriously damage your financial wellbeing and credit rating. Whether you've been mis-sold credit products, faced unfair lending practices, or are struggling with aggressive debt collection, you have important rights under consumer credit legislation.

What Our Consumer Credit Solicitors Can Help With

• Mis-sold Credit Products: PPI, credit cards, loans, and finance agreements
• Unfair Lending Practices: Irresponsible lending and affordability assessments
• Credit Agreement Disputes: Challenging unfair terms and conditions
• Debt Collection Issues: Aggressive or unlawful debt recovery practices
• Credit File Problems: Incorrect information affecting credit scores
• Hire Purchase Disputes: Vehicle finance and equipment rental problems
• Payday Loan Claims: Unaffordable short-term lending and rollovers
• Credit Card Disputes: Section 75 claims and chargeback rights

Your Consumer Credit Rights

Consumer Credit Act 1974 Protection:

• Cooling-off Period: 14 days to withdraw from credit agreements
• Right to Information: Access to credit agreement terms and statements
• Early Settlement: Right to pay off credit early with rebate
• Unfair Relationship: Challenge credit agreements that are unfair
• Connected Lender Liability: Section 75 protection for purchases £100-£30,000
• Responsible Lending: Lenders must assess affordability properly

Common Consumer Credit Problems

Mis-sold Financial Products:

• Payment Protection Insurance (PPI) added without proper explanation
• Credit cards with unsuitable features or high charges
• Personal loans with hidden fees or poor terms
• Store cards with excessive interest rates
• Car finance with inflated prices or poor terms

Irresponsible Lending:

• Loans granted without proper affordability checks
• Credit limits increased without assessment
• Multiple payday loans to same customer
• Lending to people with obvious financial difficulties
• Encouraging borrowing beyond means

Debt Collection Abuse:

• Harassment through excessive contact
• Threats of action that cannot legally be taken
• Visiting homes at unreasonable times
• Contacting employers or family members inappropriately
• Demanding payments not actually owed

Section 75 Credit Card Protection

Section 75 of the Consumer Credit Act provides valuable protection:

• Joint Liability: Credit card company equally liable with supplier
• Purchase Range: Applies to purchases between £100-£30,000
• Breach of Contract: When supplier fails to deliver
• Misrepresentation: When goods/services misrepresented
• Company Failure: Protection if supplier goes out of business
• Overseas Purchases: Protection extends to foreign transactions

Payday Loan and High-Cost Credit Claims

FCA Rules on Affordability:

• Thorough affordability assessments required
• Consideration of existing financial commitments
• Limits on rollovers and continuous payment authorities
• Price cap on total cost of borrowing
• Clear warnings about debt risks

Common Payday Loan Breaches:

• Loans granted without adequate income verification
• Excessive rollovers creating debt spirals
• Aggressive collection practices
• Failure to consider existing debt levels
• Targeting vulnerable customers

Remedies and Compensation Available

Financial Remedies:

• Full refund of unfair charges and interest
• Compensation for financial losses incurred
• Cancellation of outstanding debt balances
• Correction of credit file entries
• Distress and inconvenience payments

Regulatory Action:

• Complaints to Financial Conduct Authority (FCA)
• Ombudsman Service referrals
• Trading Standards involvement
• Debt collection practice investigations

Consumer Credit Costs and Timeframes

Legal Costs:

• Free initial assessment for most cases
• No win no fee arrangements available
• Fixed fees for straightforward disputes: £500-£2,000
• Ombudsman complaints: Free of charge
• Court proceedings: Costs recoverable if successful

Typical Resolution Times:

• Ombudsman complaints: 3-9 months
• Direct negotiation: 1-3 months
• Court proceedings: 6-12 months
• Regulatory complaints: 3-6 months

Why Choose SolicitorConnect for Consumer Credit

• Financial Services Expertise: Specialists in consumer credit law and regulation
• FCA Knowledge: Understanding of current regulatory requirements
• No Win No Fee: Risk-free representation for suitable cases
• Ombudsman Experience: Proven success with financial services complaints
• Debt Specialist Network: Connections with debt advice and insolvency experts
• Results-Focused: Track record of significant compensation awards

Don't let unfair lending practices or credit disputes damage your financial future. Our consumer credit specialists can help protect your rights and secure appropriate compensation.

This information is for general guidance only and does not constitute legal advice. For specific legal advice tailored to your situation, please consult with a qualified solicitor.