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OFT publishes revised Debt Collection Guidance

16 November 2011 | Jackie Hanlon

Last month, following a consultation between 10 March and 2 June 2011, the Office of Fair Trading (OFT) published a revised version of its Debt Collection Guidance. It was last revised in December 2006. The...

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What happens when a claimant discontinues his claim – who is liable to pay the costs?

5 April 2011 | Steven Mills Comments Off

In 2009, banks were facing a flood of claims pursuant to section 78 of the Consumer Credit Act 1974 (“the Act”).  The Act provides that a creditor under a regulated agreement for running account credit...

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OFT takes action to address debt management industry

28 September 2010 | Karen Jacobs Comments Off

The OFT has identified a number of concerns in relation to the debt management industry.  The consumers may be vulnerable and the issues which confront them can be complex.  There are a number of government...

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Case rules in favour of lender (again)

31 August 2010 | Steven Mills Comments Off

His Honour Judge Waksman has delivered another judgment in favour of lenders.  The claims all related to the interest rates stipulated on a regulated agreement relating to credit cards.  The central...

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BIS publishes quick start guide and guidance on the regulations implementing the Consumer Credit Directive

24 August 2010 | Steven Mills Comments Off

BIS, the Department for Business Innovation & Skills has published a quick start guide and more detailed guidance on the regulations implementing the Consumer Credit Directive. Please see the link...

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Review of consumer credit and personal insolvency

21 July 2010 | Karen Jacobs

Consumer Affairs Minister, Edward Davey has announced a review of consumer credit and personal insolvency.  The review will cover: How consumers enter into credit commitments, including the way in...

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Competition Commission to push ahead with ban on point-of-sale PPI

17 May 2010 | Steven Mills Comments Off

The Competition Commission wants to introduce a ban on selling PPI (excluding retail PPI) at the point-of-sale. The decision is provisional and open to final consultation. The Competition Commission...

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Lenders must comply with the new Consumer Credit Directive

13 May 2010 | Karen Jacobs | 1 comment

The Consumer Credit Directive 2008/48/EC  (“the Directive”)  and the Consumer Credit (EU Directive) Regulations 2010  introduce new rights and obligations.  The Department for Business, Innovation...

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Orders for sale consultation

10 February 2010 | Karen Jacobs

The Ministry of Justice has published a consultation on whether a minimum threshold should be imposed on orders for sale applications (following a charging order) in relation to consumer credit debts only....

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The Office of Fair Trading (“OFT”) has published a consultation on sections 77/78/79 of the Consumer Credit Act 1974– duty to give information to debtors and the consequences of non-compliance on the enforceability of the agreement

2 February 2010 | Steven Mills Comments Off

The OFT is consulting on guidance because of concerns that some debtors are being misled into thinking that these sections can be used to get their debts written off and that some creditors are not following...

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