Credit Card Claim Insurance
Credit Card Claim Insurance, why you need it?
In June 2009 the MOJ (Ministry of Justice) informed all financial claims companies who offer a credit card claim service that before the financial claims company can accept payment from a client, the client should be provided with extensive details about the credit card claim process.
More importantly the risk of submitting a credit card claim and in particular the possible risk of losing money and in the event of potential legal action, with appearing in court.
A very important issue regarding the processing of a credit card claim is to have funding in place to finance the claim, as well as having the necessary ATE “after the event” insurance in place in order to protect the client. Many financial claims companies do not have the necessary funding in place in order to process a credit card claim through to a successful completion. Even more importantly is the fact many financial claims companies do not have the much needed ATE “after the event” insurance in place to protect the client in the event of legal action whereby the defendant i.e. the lender wishes to take the case to court.
The reason many financial claims companies are not able to provide both the funding and the ATE “after the event” insurance is down to several factors, the most common being the fact the financial claims company actually accept cases that do not meet the necessary criteria to qualify for the credit card claim ATE “after the event” insurance which protects the client throughout the credit card claim process.
What most consumers don’t yet fully understand is how it is possible to make a credit card claim, whereby the client is fully protected from any further charges which is why it is important to seek out a reputable financial claims company who has the necessay funding and ATE “after the event” insurance in place as well as a panel of solicitors experienced in the Consumer Credit Act. Any credit agreement signed by a consumer prior to the 6th April, 2007, is governed by the Consumer Credit Act of 1974 and must comply with its regulations.
The solicitor will be able to communicate directly with your lender and obtain a true copy of the original credit card agreement you signed when you first took out your credit card or loan. Once this is obtained, only then can their solicitors fully evaluate your credit agreement. If they are able to identify breaches of the prescribed terms within the credit agreement, and believe you have a valid case, only then will they make a credit card claim on your behalf.
Many people mistakenly believe that all credit card claim companies have the necessay funding and ATE “after the event” insurance in place in order to protect the client throughout the credit card claim process. In our experience this is not the case. When making a legitimate credit card claim, the client should make sure the financial claims company has both the funding and the ATE “after the event” in place prior to submitting any claim. Although in some cases credit card claims are resolved in the consumer’s favour within six months, some cases are taken to court. This happened in the north west of England recently when a judge found in favour of a couple when he declared the credit agreement they signed with their loan company was “irredeemably unenforceable”. This meant they didn’t have to pay back the outstanding balance of over £17.000
The goal of any credit card claim is to have the outstanding balance completely written off. It is a lengthy and complicated process, and one that really requires the experience and expertise of a legitimate financial claims company that is authorized by the Ministry of Justice and has access to funding and ATE “after the event” insurance. Their goal is to ensure they follow the correct procedures in order to process a credit card claim in accordance with the regulations stipulated by the Ministry of Justice.
Make sure you choose a financial claims management firm who has credit card claim ATE “after the event” Insurance in place. This means that you, the consumer, are protected on a ‘No Win No Fee’ agreement with regard to legal fees incurred by either party’s legal team. An underwriter will only agree to provide adequate insurance cover if they believe you have a legitimate credit card claim, so it is imperative that an established and highly experienced legal team evaluate your credit agreement thoroughly. Consumers who make a credit card claim against their lender are not taking advantage of a legal ‘loophole’ – it is their legal right. The law is the law, and has to be adhered to – even by the banks.
Debt Clear Solutions is an established financial claims management company that can provide all of the components necessary to maximise success for their clients’ credit card claims. In partnership with a major city law firm, plus a Barrister who is an expert in Consumer Credit Law to advise on individual cases, where required, Debt Clear Solutions is able to provide the highest quality of legal expertise available.
Our goal is to provide a professional credit card claim service that ultimately clears your credit card debt and get you the compensation that is rightfully yours.
Enter promo code CCC95, for discount.
To receive the discount enter promo code CCC95 when you take our 60 second test.
To see if you may have a credit card claim
take our 60 second test at:
or call us for a free consultation on:
0208 123 9524
Debt Clear Solutions does NOT charge a percentage of any debt cleared upon the success of an Unfair Credit Agreement Claim. The promotional fee of £95 is the only fee you will pay.
Debt Clear Solutions is a Financial Claims Company authorised and regulated by the Ministry of Justice in respect of regulated claims management activities, (Authorisation No: CRM15623).
Debt Clear Solutions is a trading style of ICSVCS LTD. International House, 223 Regent Street, London W1B 2QD.
Registered in England as a Limited Company Registration No. 06610207
Debt Clear Solutions © 2009.
