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A credit card balance of more than £11,000 has been completely written off due to the lender failing in its obligations under the Consumer Credit Act.
Leading claims management company, Credit Issues and their nominated solicitors, BPS, broke the news to their client earlier this week, confirming that the balance of £11,038 had been totally written off. The case, which was bought against the lender MBNA, had been scheduled for a full trial in the Manchester Mercantile Court starting on Monday of this week. However MBNA capitulated just hours before the commencement of the trial.
Despite several request by Credit Issues MBNA failed to provide a true copy of the signed credit agreement, leaving BPS no choice but to issue proceedings against the lender.
MBNA also caved in on a second case due for hearing this week, enabling Credit Issues to confirm to another client that their £6,217 credit card balance had been written off.
MBNA are not alone as Credit Issues have many thousands of clients across a variety of lenders, many in a similar position. The trial at Manchester this week that includes cases against a number of lenders other than MBNA continues and will, if successful, lead to a successful resolution for thousands of clients.
Lee Lipson, Legal Services Director at Credit Issues, said: "The Consumer Credit Act makes it clear that lenders must provide a true copy of the original credit agreement when requested, in this instance the lender failed to do so and as a result was in breach of its’ statutory obligations. MBNA’s capitulation hours before the start of the trial is a real indication of the seriousness of this issue. Having brought proceedings against a number of lenders we are in court this week to seek guidance and a successful outcome for many thousands of our other clients who find themselves in a similar position."
Consent orders showing MBNA throwing in the towell (agreeing consent orders) at the last minute: http://image.exct.net/lib/fef11d7270...+Documents.pdf
Leading claims management company, Credit Issues and their nominated solicitors, BPS, broke the news to their client earlier this week, confirming that the balance of £11,038 had been totally written off. The case, which was bought against the lender MBNA, had been scheduled for a full trial in the Manchester Mercantile Court starting on Monday of this week. However MBNA capitulated just hours before the commencement of the trial.
Despite several request by Credit Issues MBNA failed to provide a true copy of the signed credit agreement, leaving BPS no choice but to issue proceedings against the lender.
MBNA also caved in on a second case due for hearing this week, enabling Credit Issues to confirm to another client that their £6,217 credit card balance had been written off.
MBNA are not alone as Credit Issues have many thousands of clients across a variety of lenders, many in a similar position. The trial at Manchester this week that includes cases against a number of lenders other than MBNA continues and will, if successful, lead to a successful resolution for thousands of clients.
Lee Lipson, Legal Services Director at Credit Issues, said: "The Consumer Credit Act makes it clear that lenders must provide a true copy of the original credit agreement when requested, in this instance the lender failed to do so and as a result was in breach of its’ statutory obligations. MBNA’s capitulation hours before the start of the trial is a real indication of the seriousness of this issue. Having brought proceedings against a number of lenders we are in court this week to seek guidance and a successful outcome for many thousands of our other clients who find themselves in a similar position."
Consent orders showing MBNA throwing in the towell (agreeing consent orders) at the last minute: http://image.exct.net/lib/fef11d7270...+Documents.pdf
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