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Do you have an Unfair relationship with a "creditor"

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Do you have an Unfair relationship with a "creditor"

Post by Waffle on Fri Oct 13, 2017 10:22 pm

This is a very substantive approach to seeking a remedy, and the remedies can be very lucrative, but he/she who seeks this remedy must bring the claim.

This is from the Consumer Credit Act 1974 s140A.....

140AUnfair relationships between creditors and debtors

(1)The court may make an order under section 140B in connection with a credit agreement if it determines that the relationship between the creditor and the debtor arising out of the agreement (or the agreement taken with any related agreement) is unfair to the debtor because of one or more of the following—

(a)any of the terms of the agreement or of any related agreement;

(b)the way in which the creditor has exercised or enforced any of his rights under the agreement or any related agreement;

(c)any other thing done (or not done) by, or on behalf of, the creditor (either before or after the making of the agreement or any related agreement).





And these are the potential results you can achieve

s140B CCA 1974

140BPowers of court in relation to unfair relationships

(1)An order under this section in connection with a credit agreement may do one or more of the following—

(a)require the creditor, or any associate or former associate of his, to repay (in whole or in part) any sum paid by the debtor or by a surety by virtue of the agreement or any related agreement (whether paid to the creditor, the associate or the former associate or to any other person);

(b)require the creditor, or any associate or former associate of his, to do or not to do (or to cease doing) anything specified in the order in connection with the agreement or any related agreement;

(c)reduce or discharge any sum payable by the debtor or by a surety by virtue of the agreement or any related agreement;

(d)direct the return to a surety of any property provided by him for the purposes of a security;

(e)otherwise set aside (in whole or in part) any duty imposed on the debtor or on a surety by virtue of the agreement or any related agreement;

(f)alter the terms of the agreement or of any related agreement;

(g)direct accounts to be taken, or (in Scotland) an accounting to be made, between any persons.





You will also want to take note that 140A (1) (c) it states "or on behalf of the creditor" this means an unfair relationship with an agent of the creditor such as a DCA is an unfair relationship with the creditor and can confer the remedies described within s140B CCA 1974, providing an application is made by the "debtor" and an order made by the court.....

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Re: Do you have an Unfair relationship with a "creditor"

Post by dianne1985 on Sat Oct 14, 2017 12:53 pm

This is great information, can you put it into some context please? I understand the section but would like to know where one may feel it beneficial to quote it? Many thanks

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Re: Do you have an Unfair relationship with a "creditor"

Post by Tiggy on Sat Oct 14, 2017 2:07 pm

@dianne1985 wrote:This is great information, can you put it into some context please? I understand the section but would like to know where one may feel it beneficial to quote it? Many thanks
You could use it to defend against a claim for an overdraft debt if the original creditor had applied late payment charges.

You could also possibly use it to say you believe the debt purchaser is attempting Unlawful Enrichment (purchasing the debt for peanuts but attempting to make you pay the full amount) that that relationship is unfair.

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Re: Do you have an Unfair relationship with a "creditor"

Post by dianne1985 on Sat Oct 14, 2017 7:29 pm

Fantastic thank you, so anything really if you can make it relevant! Perfect!

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Re: Do you have an Unfair relationship with a "creditor"

Post by Tiggy on Sat Oct 14, 2017 7:43 pm

As long as it's a debt covered by the Consumer Credit Actt - otherwise you could attempt to use the Unfair Consumer Contract Terms Regulations 1999 - and (I think) the agreement was taken out after April 2007, not 100% on that one.

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Re: Do you have an Unfair relationship with a "creditor"

Post by dianne1985 on Mon Oct 16, 2017 10:26 am

But only for court cases? Would it have any weighting in disputes with creditors and/or financial ombudsman cases that have not seen court action?

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Re: Do you have an Unfair relationship with a "creditor"

Post by Tiggy on Mon Oct 16, 2017 7:34 pm

@dianne1985 wrote:But only for court cases? Would it have any weighting in disputes with creditors and/or financial ombudsman cases that have not seen court action?
No, you could use it in correspondence, just in the same way you used irresponsible lending. The only difference is that the FCA have specifically mentioned creditors do not undertake irresponsible lending in their handbook, so they are more likely to pay attention to claims of IL then they are to claims of an Unfair Relationship.

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Re: Do you have an Unfair relationship with a "creditor"

Post by dianne1985 on Tue Oct 17, 2017 1:37 pm

Fantastic, have added it to an FO complaint with justification.

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Re: Do you have an Unfair relationship with a "creditor"

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