This guide focuses on the rights consumers have to request information under these sections of the act. It does state that consumers can pay a £1 fee and obtain a copy of their credit or hire agreement in order to find out

• what was originally agreed
• what the agreement is now (if it has changed)
• how much is still owed.

Should the lender in question refuse to provide the information requested, the agreement becomes 'unenforceable' which means the lender cannot get a court judgment against the borrower, take back hired items or items bought on credit, or take anything used as security (like a car) when the agreement was made.

However, the guide warns that even if a credit or hire agreement becomes 'unenforceable', consumers would still owe any outstanding money to the lender, interest could be added to their loan or hire agreement, default charges could be made, and any failure to pay could impact on their credit record. The guide also explains that the debt is enforceable again as soon as the lender provides this information.

In our experience at advice4debtni, many of our clients have had dealings with companies who assure them that their debt can be written off and actually end up in a worse off position.  Given the above, should this situation arise for you, we would advise seeking advice from a reputable debt service.