Dispute Resolution

1st December 2009
Dispute Resolution image

Credit Rating Threat not to be Feared

Recently the Court held in the case of McGuffick –v- The Royal Bank of Scotland that the Royal Bank of Scotland was entitled to refer the customer to credit referencing agencies when the customer stopped payments whilst seeking a copy of his Credit Agreement.  In essence the Court held that it was still “fair” for consumers to receive “black marks” on their credit ratings if they do not maintain regular payments until the debt under the agreement has either been successfully written off or the Court has ruled that it is irredeemably unenforceable.

Daven Naghen commented on the case that “If you still wish to obtain a copy of your Credit Agreement, and challenge whether or not it is in accordance with the requirements of the Consumer Credit Act then you can continue to do so.  It simply means that in most cases that the consumer should continue to make the minimum payments required under the Agreement pending any agreement or ruling to the effect that the Agreement is unenforceable.

The decision of the Court is so far limited.  It does nothing to suggest that the Court might not be intervene in order to prevent the lender referring customers to credit referencing agencies e.g., when this threat is arguably being used coercively, or if such threat were to follow a finding by a Court that a Credit Agreement is irredeemably unenforceable.”

If you have a Credit Card, or have entered into a Loan Agreement then please feel free to contact Daven Naghen who can advise you as to whether or not it is likely that the Agreement is enforceable.

If it is not enforceable, then all remaining sums due under the Credit Card or the Loan Agreement may be written off.


How Banks are Cashing in on Wills image

How Banks are Cashing in on Wills

Recent headlines have reported how banks are now cashing in on Wills.

During the 1990s and early 2000s, banks offered customers low cost Wills (or sometimes even free Wills) but the small print allowed the bank to charge extortionate rates to act as Executors. It is reported that banks are expecting billions of pounds of revenue from their Will writing services and administering estates and in some cases their fees have been over £12,000 to administer an estate as they look to charge a fixed fee PLUS a percentage of the deceased’s wealth.

If you or a loved one has made a Will through a bank we would urge you to check who you have appointed as Executors and check any small print which you may have signed. If you are unsure then please speak with one of our lawyers in the Wills and Probate team who can look at your existing Will with you. It may be appropriate to make a new Will which revokes any previous Will you have made which could save your family thousands of pounds when your estate needs to be administered.

In the majority of cases, when someone has passed away we can provide the family with a quote of how much the legal fees will be so that there are no nasty surprises once the administration is complete.

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Testimonials

Gemma Mayer LLB

"I would highly recommend Maples Solicitors, especially Gemma Mayer, for any conveyancing work. The level of support and professionalism was excellent at all times. I also felt if I needed to ask or clarify anything that it was not an issue. Buying and selling a house is stressful enough, but Gemma helped me through it step by step."

Anita Toal LLB BA

"I think you are brilliant. You can use my comments above. You are efficient, friendly and quite clearly very good at what you do. Mainly you don’t leave people hanging around too long for." "So easy to talk to her and she understood what I wanted. She put me at ease and I cant thank her enough"

Daven Naghen LLB

"Daven provided an excellent service, from attending the first interview with me to the final court appearance. He filled me full of confidence that he would defend me to which he did and come out with an excellent outcome in view of my position that I had put myself in."

Faye Blair LLB

Faye was excellent, sensitive and acted very well to the time constraints we faced. Great service and dealt with compassion at such sad times made the process less painful very professional.

Jamie Dobbs ACILEx

Over the last forty years I have cause to deal with many law firms both in a personal and professional capacity, including some ‘top’ London Companies. In all of those dealings I have never found anyone as proactive and so willing to offer help and advice as Jamie Dobbs. During the last two years Jamie guided my parents through the completion of Lasting Powers of Attorney. Helped myself with the use of the LPA and recently dealing with Probate and Estate Administration following their death.

Mike Pepper MA

Mike Pepper gave us excellent advice. He was always most helpful and accommodating giving lucid explanations every step of the way. Thank you Mike.

Claire Smith FCILEx

Claire Smith has been amazing in every way. I highly recommend her and I am so grateful for all her help. She’s professional on all levels, reliable, extremely organised and I will be recommending her to everyone. I’m very lucky to have had her representing me and I can’t thank her enough. She is an asset to Maples. Thanks so much Claire!