Loan Agreement Disputes and Debt Recovery Claims 101

Are you stuck in a loan agreement dispute? You are not alone.

A loan agreement is a formal contract between two parities. It comprises a number of terms and conditions, which have to be followed by the individual borrowing the money (borrower) as well as the agency / individual facilitating the money (lender).

A loan agreement specifies the amount of loan, type of loan borrowed, such as secured or unsecured, the repayment schedule, interest, and so on.

Once the borrower signs the loan agreement, they agree to follow the terms and conditions of the loan agreement.

Loan agreement disputes refer to disputes arising due to changes in circumstances between a borrower and a lender. They can occur due to several different reasons.

The most common causes of loan agreement and debt recovery claims include breach of contract. In other words, a lender breaches the terms and conditions of a contract, thereby making the contract legally unfair.

Similarly, any hidden or extra charges imposed by the lender, which was not explicitly discussed with the borrower beforehand, is another factor, coupled with violation of an agreement’s statutory rights as well as call-in-loan threats.

Loan agreement disputes negatively affect both companies and individuals. Companies need loans to finance research and development, business expansion or expenses. Loan agreement disputes have an adverse effect on a company’s finances and operations. Therefore, it is critical to seek professional legal assistance for resolving loan agreement disputes.

How To File A Debt Recovery Claim

Seeking debt recovery claim against an individual or a company is a complicated process. It is imperative that you have a written loan contract and sufficient evidence

The more evidence you have, the greater the likelihood you can recover debt successfully. Collecting evidence and paperwork can be overwhelming. A trained, qualified solicitor specialising in loan agreement disputes and debt recovery claims can obtain the paperwork you need for making a valid debt recovery claim.

At Wembley Solicitors, we have extensive experience and expertise in managing an array of loan agreement dispute and debt recovery claim cases.

We offer clients accurate, honest and fair legal advice and guidance for protecting their finances. Our mission is to provide practical, effective, sound legal solutions at the most affordable cost.

From start to end, we handle the entire legal process on behalf of clients.  Get in touch with our expert solicitors now to schedule an appointment. Wembley Solicitors is a fully registered, licensed and insured firm.