Interest Rate Swap Claim

Interest Rate Swap Claim Did you know you may have been mis-sold your interest rate swap which means you could have an interest rate swap claim and therefore receive compensation? It is understandable that in order to survive in the modern world you need secure finance for your business. The issue is not having access to finance; the issue is having access to large amounts of finance in order to keep your business going though the hard times – and when the option arises to access finance by way of an interest rate swap then it is easy to see how quickly people’s business debt can spiral out of control. Increasing numbers of business owners are finding themselves with large amounts of business debt and finding it difficult to keep up the monthly payments. Therefore it is becoming increasingly popular for business owners to seek ways of securing finance through as many options as possible, and very often in ways that are not necessarily that straightforward and understandable. Business owners think there is no alternative but to accept the various funding methods made available to them by the financial institutions, which can often mean securing an interest rate swap with a view of locking into a reduced interest charge, however what many business owners were not told was if the Bank of England base rate dropped then the interest rate that had been secured would not and therefore leave the business owner with high repayments. It is a vicious cycle and in this current global financial crisis, business owners are no longer able to meet their minimum monthly payments. This is because they’re not aware there maybe a claim the interest rate swap was mis-sold and therefore they may be due compensation. The question many business owners ask themselves is it really possible to challenge the financial institutions on the basis the interest rate swap was mis-sold? Yes, there is. It’s possible you can challenge the interest rate swap mis-selling and in some cases you may well be entitled to compensation should the facts uncover that you were ill advised at the time. If this is proven to be the case, then the interest rate swap would be rendered unfair, meaning the lender mis-sold the interest rate swap and therefore cannot ignore the fact that you’re owed compensation and your losses – in other words, your interest rate swap may be challenged. In addition, you may be entitled to extensive compensation as you may have incurred losses as a result of having to take on more finance, incurred charges by your lender as well as charges for late payments, or exceeding your overdraft limit on your business account. You may also be eligible for compensation if you had to close your business down as a result of the higher rate of interest you have been paying when you took out your interest rate swap on your business finance. So, not only may it be possible to claim losses for the money you have lost, it may also be possible to claim back losses for having to close down your company, and also receive additional compensation for unfair charges. To find out if you have an interest rate swap claim due to financial institutions mis selling, visit www.StellarLaw.com where we will be happy to assess your issues, and identify how we can assist you in resolving these concerns as swiftly as possible. Our goal is to provide a professional interest rate swap claim service that ultimately clears your credit issues and gets you the compensation that is rightfully yours. For more information about Interest Rate Swap Claims, read our Claims Process page of how we may help you get redress.