There's one particular married couple who have cause to be grateful for a firm of claims handlers. They employed them to do some debt-dodging and according to reports, they have received over 100,000 pounds by exposing mistakes in consumer credit agreements. One major bank agrees that they made the decision to waive a debt in excess of 9,000 pounds, says it was a commercial decision, due to the fact that any dispute in an uncertain legal area could lease to very high costs, whilst other banks have made the decision to fight back.

The couple had taken a group of five banks, credit card and finance companies to court with the aim of claiming around 37,000 pounds due to supposed deficiencies in documentation relating to loans. When it came to the judgment, the high court judge dismissed their arguments for various reasons, including being completely lacking in factual or legal merit. He also remarked on the fact that the couple had been boasting of how they had got out a further 65,000 pounds, beyond the 37,000 mentioned, by using the finer points of the credit act. This resulted in financial institutions being forced to treat them as written-off bad debts in order to avoid the expense and hassle of fighting the case. The judge added that the couple appeared to be relying on income support and were consequently not required to pay court fees.

Describing the couple as “vexatious litigants” the judge ordered a civil restraint order to be issued, which would prevent them from instigating claims or proceedings in any civil court.

The action that most banks are taking is to refuse to have any direct dealings with any of the claim handling firms or to recognise their validity or their claim to represent any of their clients .They take the view that if customers have any problems or queries they should contact them directly. They stress the importance of contacting their lender or financial advisor if they find themselves in financial difficulty.

As a result of the concerns of the banks and building societies, many of them are issuing new terms and conditions in an effort to ensure there are no loopholes left open for anyone to exploit.

A major credit card company has refused to have anything to do with claims handlers, having received over 6,000 applications. They have simply refused payment on all applications received.

Barclaycard, whilst not reporting on how many claims had been received, reminds customers of the concerns of the Office of Fair Trading and Ministry of Justice. Their alert warns consumers to “think very carefully before committing themselves to making claims and handling over hundreds of pounds in advance to do so, even where refunds may be promised if the claim is unsuccessful”.

Despite all this, claims managers don't seem to be worried and lots of advertisements are appearing, inviting applications from agents to bring in new business for them.

For advice on any matters to do with loans, the best source is an on-line independent broker. They are aware of all aspects of the market and will go all the way to find you the right products from reliable sources – you can trust them to get you the right deals.