Welcome to Checker

General information

The Checker system is capable of checking the content of most credit agreement types that are regulated by the Consumer Credit Act 1974. Interest rates, payments and APR can also be calculated for Un-regulated agreements. The Checker Interest figures are calculated on a daily basis on the balance outstanding at the end of each monthly period taking account of the monthly payments. This method of calculating Interest is the most common method used by lenders and it is likely to be the one used for your agreement. If you have doubts as to how interest and payments are applied to your agreement please refer to your agreement general terms and conditions for clarification or contact info@checkmyagreement.co.uk where a member of staff may be of help.

Multi-part agreements

The Checker system will not assess or check Credit Card Agreements or agreements with linked insurance contracts such as Payment Protection (PPI) or Accident, Sickness and Unemployment (ASU) nor will it assess agreements with maintenance contracts. If you have such an agreement please email us at info@checkmyagreement.co.uk and a member of staff will be more than willing to help with checking this type of agreement for you for a small fee.

The Questionnaire screen

The Checker system relies entirely on the data that is input by you so it is vitally important that you enter the data exactly as it appears on the agreement that you are checking. FAS cannot be held responsible for any errors and/or omissions that you make. If you require assistance with completing the questionnaire please contact info@checkmyagreement.co.uk with your query. Once you have entered all the data, and you are satisfied that it is correct, you are taken to the Assessment screen.

The Assessment screen

You can assess your loan agreement FREE OF CHAGRE .This tells you if your agreement complies with the Consumer Credit Act 1974 and it's Regulations. One of three panels is shown telling you of the validity of your agreement. (whether the lender can use it against you when making a claim). The panels will tell you if:-

• Your agreement is enforceable - The agreement technically complies with the most important Regulations and would therefore ultimately stand up in court in favour of your lender.
• Your agreement may be unenforceable - The agreement is technically in breach of some of the Regulations and may therefore persuade a Judge to come down in your favour depending on how much prejudice each breach has caused you.
• Your agreement is unenforceable- the agreement is in breach of certain Regulations (the prescribed terms). If any one of these terms is incorrect or missing from the agreement then the Judge is not allowed to make an enforcement order against you.

Remember, this assessment is free.

EXAMPLE PANEL

Below the panel there is the Assessment table that shows the terms of your agreement that breach the Consumer Credit Act 1974 Regulations. The three columns denote your data entries, the Checker calculations and the difference between the two.

From the difference column you will be able to decide whether the difference is sufficient to have caused prejudice to you - the panel above goes someway towards helping you with this decision but ultimately common sense prevails. Please contact info@checkmyagreement.co.uk if you want any further guidance. Please remember that if a Prescribed term is missing or incorrect then the court is not allowed to make an enforcement order against you. The Prescribed terms are the following:-

• The amount of credit
• The interest rate
• The payments

EXAMPLE ASSESSMENT TABLE

You now have the option to request a full report that shows the Assessment table along with explanations as to why each term of your agreement is in breach of the Regulations. It also points out exactly which section of the Act, Regulation and Schedule applies. If you are satisfied and feel that you have a claim you can print out the report to use as you so wish whether you use it in support of legal action or whether you send it to your lender in support of a complaint.

The Claim options screen

This give you the option to make a claim to your lender by way of three methods:-

• On a No-Win-No-Fee basis
• On a Do-It-Yourself basis
• On a FAS claim basis

If you would like to make your own claim you may wish to purchase Recover's DIY Pack on how to make a claim yourself. The DIY Pack is an individually tailored document specificly geared to your loan and circumstances. The letters are pre-typed with your details, all you need to do is sign and post them, following the easy step by step guide. Send a cheque or postal order for £155.00 (inc. VAT) made payable to 'Recover' and post to Recover, Ravenstone House, Britannia Road, Sale M33 2NN (remember to enclose a copy of your loan agreement). If you later decide to pass the case to one of our specialist Solicitors to pursue, we will knock £155.00 (inc. VAT) off any subsequent fee.