Loans under review
28/11/08
As many as seventy-nine per-cent of loans in the UK may not be fair which could open up compensation claims for borrowers according to Unfair Made Fair. The company have commented between the region of £5000 and £25000 personal loans in the UK fall into this category.
“The consumer could also challenge any adverse credit associated with an unfair loan, apply to repair their credit file and even sue the lender for unfair damage to their credit file and seek compensation,” commented Alan Kneale from Unfair Made Fair.
He continued, “We have anecdotal evidence some high street banks have more than 30 different loan agreements in force and these have been added to, altered, plagiarised, cannibalised and amended instead of being rewritten from scratch, the result being many are unfair. We believe the end result for the UK’s high street banks will be a return to cautious, thorough and methodical bank managers, lending only to those good for the money.”
