Lowell Portfolio. The gift that just keeps on giving.

[pt2537]

Companies like Lowells issue claims daily via the bulk processing centre. From what i see id be very surprised if they even checked their claims before submitting them to the Court. This was exactly the issue with the hearing which took place last week. Lowells issued a claim for an overdraft. They alleged that the […]


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[echat11]

Thanks for clearing that up.

[pt2537]

s74 sets out the key points. https://www.legislation.gov.uk/ukpga...part-v/enacted

[pt2537]

pt2537

'They alleged that the overdraft was regulated by the 1974 Consumer Credit Act'.

'Lowells claimed that despite their pleading the 1974 Act did not apply.'

I think it should read,

'They alleged that the overdraft wasn't regulated by the 1974 Consumer Credit Act'.

surprisingly, no , it is correct, their pleading said "Agreement regulated by the Consumer Credit Act 1974" that is right, overdrafts are, contrary to popular belief, regulated, they are merely exempted from Part V of the 74 Act, the remainder applies.

Their letters sought to run a different argument. They lost though.

[echat11]

pt2537

'They alleged that the overdraft was regulated by the 1974 Consumer Credit Act'.

'Lowells claimed that despite their pleading the 1974 Act did not apply.'

I think it should read,

'They alleged that the overdraft wasn't regulated by the 1974 Consumer Credit Act'.