No More Card Debt

Under the terms of the Consumer Credit Act 1974, loans or other Credit Agreements need to be drawn up correctly for them to be legally binding. If this is not the case, then the Credit Agreement could be deemed unfair and unenforceable. In other words, the lender cannot legally enforce the terms of the contract on the borrower. Effectively, this matters that if a Credit Agreement is rendered unfair, then the borrower has no obligation to uphold the terms of the contract and the lender cannot challenge them for non-payment.