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County court claim and default notices for fixed term loans.
Hi,
I’m currently in the process of defending a county court claim for a fixed term loan that was allegedly taken out in 2005 and defaulted in 2008.
I have been informed by the claimant that a default notice is not necessary as the fixed term is now up.
This is news to me as I was always under the impression that to enforce a regulated credit agreement a default notice had to be served.
The case is way more complicated than just that, but for now can anyone advise me on this default notice issue?
As I’m new to the site, I apologise if the information is blindingly obvious somewhere.
Many thanks
I’m currently in the process of defending a county court claim for a fixed term loan that was allegedly taken out in 2005 and defaulted in 2008.
I have been informed by the claimant that a default notice is not necessary as the fixed term is now up.
This is news to me as I was always under the impression that to enforce a regulated credit agreement a default notice had to be served.
The case is way more complicated than just that, but for now can anyone advise me on this default notice issue?
As I’m new to the site, I apologise if the information is blindingly obvious somewhere.
Many thanks
