Unfair Credit Agreements could be brought before the High Court
Warrington, 18th May 2009
Unfair credit agreement specialists Credit Clear UK have welcomed calls from a senior judge to have test cases involving credit heard by the Commercial Court in London.
The move comes in the wake of a landmark case at Chester County Court, in which Civil Judge Derek Halbert ruled that a consumer credit agreement brought before him was unenforceable. The case was significant as Judge Halbert ruled that it was the bank, rather than the borrower, that had a case to answer.
This move is thought to set a precedent for future cases and could potentially open the floodgates to a wave of similar cases from those who are the victims of unfair credit agreements. Due to the volume of claims which could be brought before local courts, Mr. Halbert is calling for potential test cases to be heard in the Commercial Court in London.
Currently the stay on proceedings only apply to cases at Chester Crown Court and a nationwide stay on proceedings would be detrimental to banks if such cases are delayed; because if the borrower alleges unenforceability, the banks claim to recover payments would be put on hold pending determination of any test case.
Any test cases are welcomed as well as raising much-needed awareness of the issue of unfair credit agreements, this move could also help to clear up grey areas of the law and offer consumers a better understanding of their rights. Legally there cannot be any argument over clear cut cases of agreements that breach the Consumer Credit Act and there is significant case law on this. However, there are many issues which would benefit from clarification.
Warrington based Credit Clear UK help victims of unfair credit agreements from across the country. Managing Director Lee Lummis commented:
"It is now more important than ever to ensure that your consumer rights have been met and your credit agreement complies with the law."
"Credit Clear UK is proud to be partnered with the leading provider of manual credit audits, an arrangement which allows us to help consumers to free themselves from the burden of unfair and unnecessary debt."
Those who believe that they may be the victims of unfair credit agreements are invited to contact Credit Clear U.K on 0800 038 2233 or visit: http://www.creditclearuk.co.uk.
