Loan Agreement Disputes and Debt Recovery Claims

We understand the exasperation attributed to the onerous task of revisiting loan agreement terms and conditions and choosing the right legal process for settling disputes or for making debt recovery claims from a position of credibility. At Wembley Solicitors, we can provide comprehensive legal advice and support for helping you settle your loan dispute cases and debt recovery claims.

When a person agrees to borrow money from a lender, a contract will normally be signed to state the terms and conditions of the loan and specify whether the loan is secured or unsecured against a property belonging to the borrower.

However, loan agreement disputes can arise, owing to a misunderstanding on the part of one party at the expense of another or when the borrower finds that they have been charged additional or hidden fees that were not explicitly stated in the loan agreement contract. The borrower could fall into a significant amount of arrears or that find that all payments have been made and later find that he still has outstanding money.

Whether the loan agreement dispute or debt recovery claim is made against an individual or a company, the sensitivity of the case can have irreparable effects on the relationship. This is why it is recommended that you seek professional legal help in resolving the dispute and overseeing any debt recovery claims with care and sensitivity.

“Our Wembley Solicitors can extend our legal guidance and specialist advice to sifting through the terms and conditions of the written agreement to ensure your disputes are settled professionally and amicably.”

Common Scenarios of Loan Agreement Disputes

The following are some scenarios that can give rise to loan agreement and debt recovery claims:

• Breach of contract: this occurs when the lender has contravened any of the terms and conditioned indicated in the loan agreement in which case the agreement becomes unenforceable or legally unfair.

• Violation of statutory rights: there could be a violated of the rules or statutory rights contained in the credit agreement signed between the both parties. The lender is required to adhere to the specific legal procedures when allowing credit. Should this be violated, the lender may not be able to recover payment under this agreement.
• Miscalculation of extra, hidden or interest charges: this occurs when the lenders charges costs or payments that were not explicitly agreed upon between the two parties. The borrower could be charged with paying unnecessary expenses and fees pertaining to a loan that he did not anticipate during the time of entering into the contract.
• Violation of loan to value covenant: in this situation, the lender may opt to unjustly revaluate assets to push businesses to default so a higher interest can be collected.
• Call-in-loans threats: lenders can threaten borrows to call-in-loans should there be a likelihood of a default. This can be extremely stressful for the borrower and the matter is settled often through negotiation.

Settling Debt Recovery Claims

If you have lent a loan or money to a borrower who has fallen into arreas, you will be interested in seeking debt recovery claims. Making these claims requires having a written contract and other supplementary evidence, such as a purchase order.

It will also important that you have copies of communication between you and the borrower with regard to the loan agreement or payment. This will be crucial for strengthening your case and help you recover debts in full.

In case you do not have any record or evidence, it is possible to make inferences from the terms of the agreement. Our solicitors can offer you valuable legal advice and guidance in ensuring all documents and paperwork help you make a valid debt recovery claim.

How Wembley Solicitors Can Be Of Assistance?

“We, at Wembley Solicitors, have experience dealing with a range of loan agreement dispute and debt recovery claim cases, making us credible legal advisors for ending your frustration.”

Our solicitors have a wealth of experience in handling both loan agreement disputes and debt recovery claims cases. Through our years’ worth of experience and expertise, we can serve as your legal guide to help reduce your legal costs and provide you with a settlement options that are in accordance with UK laws and regulations.

For more information, please contact us today.