In 2006 a ruling by the Supreme Court in the case of Plevin vs Paragon Finance Ltd. deemed Mrs Plevin was subject to an ‘Unfair Relationship’ as a result of actions taken by the financial lender. Paragon failed to disclose the amount of commission it received when Mrs Plevin took out a financial loan agreement, along with additional Payment Protection Insurance. The case set a new legal precedent and provides better protection for consumers entering into credit agreements.
Legal experts can now look at the terms of consumer credit agreements to establish if they are unfair, as well as considering the behaviour of the lending party to determine if the relationship has been in any way unfair to the borrower. For example, If you have been sold an unsuitable financial product, information was not disclosed to you at the point of sale, or a creditor has behaved unfairly in the way in which your credit agreement was secured or managed, you may be able to make a claim of Unfair Relationship.
Additionally, those who have successfully won a claim for being mis-sold Payment Protection Insurance (PPI), may be eligible to make further claims of the category of Unfair Relationship.
Establishing whether you are subject to an ‘Unfair Relationship’ as a result of the terms and conditions imposed through a credit agreement, or if a lender has behaved unfairly in securing a credit agreement is an extremely arduous and complex area of legal practice. Our experts have a wealth of knowledge and over 30 years’ combined experience working in all areas of consumer credit agreements.
Section 140 of the Consumer Credit Act 1974 allows us to look into retrospective loan and credit agreements, dating back as far as 20 years. However, looking into historic cases does require access to all financial documents and accurate details of the lender in order to increase the likelihood of a successful outcome.
If you have previously reclaimed PPI on a bank or other loan because it was either mis-sold or you were unaware it was included as part of the credit agreement, it is possible that you also qualify to make a supplementary claim for Unfair Relationship.
We are particularly interested to hear from those who have had credit agreements with the following lenders: Hitachi Personal Finance, Barclays Partner Finance, Shawbrook.
Every case is different, with different challenges, aspirations and outcomes. In order for us to deliver a first-class, professional service we take the time to listen specifically to your case, review all necessary documentation and discuss the most appropriate, and effective course of action through with you in advance.