October 13, 2018

A recent direct access instruction from a client who found himself grappling with the Financial Ombudsman raised some technical but nonetheless interesting and potentially important issues on the financial limits to the joint liability provisions in the Consumer Credit Act 1974.

S.75(1) of the 1974 Act entitles a debtor under a debtor-creditor-supplier agreement who has, in relation to a transaction financed by the agreement, any claim against the supplier in respect of a misrepresentation or breach of contract, to bring a like claim against the creditor.

This is a very useful section where the supplier goes bust - if payment was made on finance (including a credit card) then the consumer can make a claim against the finance company for the defaults of the supplier. So in my client's case, he had pa...

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Charles Holland - 

Licensing, chancery/commercial and property barrister.

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