Reasons for disputing a debt in the UK

There are sometimes legitimate reasons for disputing a debt. Whenever you borrow money here in the United Kingdom, you must be asked to sign a credit agreement. The credit agreement is a legal document which sets out what both sides are agreeing to and this includes how the borrowed money should be paid back.

Borrowing money can include such things as using a credit card, taking out a loan from a financial institution or using bank overdraft facilities, buying goods on credit and taking out a mortgage in order to buy a home or other property.

If you are unable to pay back the money you have borrowed or if you fall behind with your payments, the credit agreement usually gives the lender the right to take you to court and force you to pay back what you owe.

At times you may have a legitimate reason for disputing a debt

There are times, however, when you may be able to argue that you should not have to pay the money back. There are a number of reasons, including:

  • you did not sign a credit agreement with the lender or someone else signed it
  • the lender did not follow the proper procedure, as an example, if the credit agreement has something wrong on it
  • you were under the age of 18 when you signed the agreement
  • the agreement you signed is unfair according to the law
  • the time limit for the money to be recovered has run out
  • you were forced into signing the agreement against your will
  • you did not understand what you were doing when you signed the agreement because you have a mental illness or learning disability but of course this will have to be proven.

If a lender is chasing you for payments or if you are being taken to court, you should check to see whether there are any reasons why you might not have to pay the money back to the lender.

If you think there may be a reason why you should not have to pay the money back to the lender, you can pay to get help from an experienced debt adviser. You can also get help from a debt adviser at a Citizens Advice Bureau if you live in the United Kingdom.

At the Quick Loan Shop Ltd we do our best to ensure that all our dealings are legal and transparent. We have many thousands of credit applications each month and because we treat our clients applying for loans with dignity and respect our clients return to us again and again. Should you ever have a complaint about us we urge you to approach us so that we can do our best to resolve the issue.