Category: Letter Templates – Credit

Understanding Equal Liability in Credit Agreements Understanding Equal Liability in Credit Agreements When you enter into a credit agreement with another person – such as a joint loan or a shared credit card – both parties are usually considered to have "equal liability." This means each person is legally responsible for the full amount owed,…

Understanding Unsecured Creditors and Their Importance Understanding Unsecured Creditors and Their Importance When a company in the UK faces insolvency or bankruptcy, its debts are handled according to strict legal rules. As a creditor, it’s crucial to understand your position – especially if you are an unsecured creditor – because this determines your chances of…

Understanding Your Right to Cancel a Credit Agreement Before It Starts When you sign a credit agreement in the UK, you often have the legal right to change your mind and cancel before the agreement officially begins. This right is designed to protect consumers from entering into credit commitments they may later regret or not…

Understanding Your Right to a Loan Fee Refund When you apply for a loan, lenders often charge an upfront fee – sometimes called an arrangement, administration, or processing fee. These charges are meant to cover the cost of setting up the loan and are usually taken before any money is paid out to you. In…