Court of Appeal delivers blow to banking industry with default ruling

[mystery1]

Re: Court of Appeal delivers blow to banking industry with default ruling

The court refused to order repayment which is unenforceable but not under CCA. Reports must be accurate.

M1

[Ruby]

Re: Court of Appeal delivers blow to banking industry with default ruling

The court refused to order repayment which is unenforceable but not under CCA - but what if the CCA is non existent or floored? What should legally credit reference agencies base their information on? I know this topic is a 'can of worms' and I take on board everything that everyone has said. I do think we need a court case to clarify things more. Reports need to be accurate I agree.

It can also be argued that if the debt is legitimate and you know it is then a default is the price you pay,

It's good to talk :tinysmile_twink_t2:

[spirit2534]

Re: Court of Appeal delivers blow to banking industry with default ruling

The Provision of CCA 1974 allow the reporting in this scenario.
DCA can still " request" payment and report to CRA's
The NOA could have been provided by the original creditor and or the debt purchase and as with
DN,s they don't have to be archived and " file notations " can be relied upon.
You could request sight of the Deed of Assignment under the Law of Property Act 1925 for absolute proof.

What is more important, the NOA or the Deed of Assignment?

Surely the NOA is just A asserting that they own the debt, no proof, whereas a Deed of Assignment proves the transfer of ownership.

I could provide a NOA for any debt, but that does not mean that I can legally enforce the terms of the orginal agreement.:tinysmile_cry_t:

[nemesis45]

Re: Court of Appeal delivers blow to banking industry with default ruling

The NOA is a basic notice that the debt has been sold/assigned.

The Deed is the contract between debt sell and debt purchaser and is of course a commercially sensitive document and in not usually provided unless ordered by a court.

Lord Denning MR when Master of The roll judged that a debtor should be able to have sight of a deed, but when a deed is disclosed usually it is very heavily redacted.
nem

[pt2537]

Re: Court of Appeal delivers blow to banking industry with default ruling

It is this exact scenario that the Judge in our appeal said that "he is not sure that it would ( or would not my interpretation of that) not apply to an unenforcable agreement.....but that is a question for another day"
Sparkie

Exactly, and as long as the right case goes before the COA next, and not some nonsensical McGuffick rubbish, then that too can be dealt with

[Amethyst]

Re: Court of Appeal delivers blow to banking industry with default ruling

http://legalbeagles.info/lloyds-wrec...owe-telegraph/

[spirit2534]

Re: Court of Appeal delivers blow to banking industry with default ruling

A very interesting point.

A debt arises where cash or credit is extended by one party to another. It is usual for an agreement to specify the loan / credit extended. If the creditor can't produce this agreement then surely they can't enforce it.