It has been noticeable over the past few months that a number of issues surrounding Credit Agreement Claims have been reported in the media in such a way as to discredit the unenforceability claims service provided by our industry. We see this as a part of the lenders and associated bodies’ strategy in order to divide beliefs and proven processes which are based on case law.

For the purposes of this article I will refer to the lenders and associates as “they” or “them”. It is important that everyone who is involved in the business of claims management for the unenforceability of credit agreements regulated under the Consumer Credit Act 1974 should understand that “they” will do anything to undermine what we are trying to achieve for the consumer.

“They” will utilise every resource at their disposal to undermine the credibility of what we are all trying to achieve, this should come as no surprise to you as it is absolutely NOT in their interest for these claims to succeed in any volume. The potential impact on their business is quite frankly staggering, so the stakes are high.

So who are “they”? “They” will come in many guises:

The obvious players are of course the Banks, Building Societies, Sub Prime Lenders, Credit Card Companies, Finance Houses and Store Card Providers.
The other players are the interesting ones, and interestingly enough, the more dangerous entities regarding future potency of the claims management industry.

These entities are Solicitors and Barristers acting on behalf of “them”, miss-informed media units, Government bodies, Debt Collection agencies, certain CMCs who are not majoring in CCA Unenforceability (e.g. PPI ONLY players) and influential individuals who are miss-informed or have an agenda which, is disingenuous. Of course there is always the ill educated or miss-informed individual who has a circle of influence within their immediate peer group,

Most importantly we need to appreciate that we are able to establish what is “FACT” and what is indeed “SPIN” or miss-representation. It is imperative that we all remember the facts which are very simple, these being:
The Consumer Credit Act 1974 was designed to protect the consumer.
Consumer Credit Agreements either COMPLY with the Consumer Credit Act 1974 or THEY DO NOT.

Also, just remember one simple strategy of “ALL” War generals are to; “Divide and Conquer”.
We need to stand strong on behalf of the Consumer and address THE FACTS and believe in what we stand for.
THAT’S IT – Pure and simple…
Remember “they” will do everything in their power to cause confusion and uncertainty. So when people are faced with adversity, human emotion dictates that you will do one of three things; stand and fight, take flight or do nothing (procrastinate). Our adversaries prey on the latter two parts of human emotion so we need to be resolute in our beliefs and be strong and determined in seeing through what we have started.
The Claims Management industry needs to be unified and cohesive in rebutting the claims of the disingenuous and miss-informed entities. It is vitally important to remember that we are acting in the very best interests of the consumer and therefore we can categorically stand-by our service offering in the face of ridiculous claims by our adversaries.
So, to the main question… IS THE “CREDIT AGREEMENT CHECKER” RELIABLE?

We have recently had the credibility of the CHECKER system by Fair Claims Limited challenged through veiled reporting by our adversaries, so I thought it was about time that I informed the marketplace of the heritage, credibility and the governance of the checker system. The Checker system is capable of checking the content of most credit agreement types that are regulated by the Consumer Credit Act 1974. Interest rates, payments and APR can also be calculated for un-regulated agreements. The Checker interest figures are calculated on a daily basis on the balance outstanding at the end of each monthly period taking account of the monthly payments. This method of calculating interest is the most common method used by lenders and it is likely to be the one used for your agreement. Checker System Specification

6 Year development program incorporating continuous improvement as legal opinion and case law changes in this new area Interpretation of Consumer Credit Agreements (CCA) based on many years deep analysis and consultation of CCA1974 and associated regulations and texts.

Developed to ensure compliance of the Consumer Credit Act 1974

Endorsement Checker system by Harrington Street Chambers, Liverpool

Endorsement of the mathematical algorithm by an eminent Economics Professor at Salford University

Landmark case precedent – Walker Case v’s Pacific Personal Finance, Chester County Court – Judge Halbert

Agreements are keyed from two different sources – dual checking of results

Comprehensive report to enable consistency of claim for the solicitors

Increased functionality to provide rules based strategies

Fully integrated upload / download facility

Used by Turner Coulston Solicitors – winners of the Walker Case v’s Pacific Personal Finance, Chester County Court – Judge Halbert

Exclusive requirement for some ATE insurance companies in running Unenforceable Credit Agreement claims for solicitors

Facility to provide ’000’s of assessments each weeks in a repeatable consistent format.

STASTISTICS OVER 10,000 Consumer Agreements checked by the system CREDIT CARDS 68% Breach of prescribed terms 21% Breach of terms other than prescribed terms -—— 89% Unenforceable credit card agreements inspected by the CHECKER system 11% No breaches of any Terms (these Contracts were found wholly enforceable) LOAN AGREEMENTS 78% Breach of prescribed terms 6% Breach of terms other than prescribed terms -—- 84% Unenforceable loan agreements inspected by the CHECKER system 16% No breaches of any Terms (these Contracts were found to be wholly enforceable)

As can be seen from the Statistics above, we are able to prove our statements. When we say that over 80% of Agreements are unenforceable we can prove this through our extensive data. (Note: The National Statistics Office use 2,010 items of data each month to conduct a national survey on behalf of the Postal service – that equates to 12,120 items of data over 12 months).

Interestingly enough the entities and government bodies who report that our claims are unsubstantiated are completely incorrect and I would challenge any of these entities to provide their data in disproving our claims. Quite simply they cannot, they are only scare mongering and trying to discredit our industry to meet with their own objectives. The Checker system was an integral part of the defence used to win the landmark Walker case at Chester County Court. This court case has now set a precedent for unenforceable credit Agreements at county court level. This case was won on appeal and has galvanised the claims management industry in vindicating its stance against the lenders in supporting the Consumer. (The Walker v’s pacific Personal Finance case is being appealed to the Court of Appeal but Mr Walker’s lawyers, including the eminent David Berkley QC, are extremely confident of success there too).

We have carried out extensive due diligence over a period of approximately 8 months before committing the checker to our totally integrated Claims Management process.

We at My Claims Supermarket, have incorporated the Checker system as an integrated part of our overall claims management solution in order to ensure consistency and speed of claim results because of its consistent accuracy and comprehensive reporting capability which ensures that our legal team are provided with the relevant information and points of law appertaining to the Consumer Credit Act 1974 when pursuing the lenders on behalf of the consumer.

We have developed a totally integrated claims management process incorporating the full legal process for the purposes of servicing Claims Management Companies with the highest levels of service and the only way we are able to achieve this is to be able to utilise solutions that are consistent and predictable in order that we can also provide a consistent and predictable outcome for our introducers and their customers.

Story Credit: My Claims Supermarket press release