another loophole closed?

st999

http://www.dailymail.co.uk/money/article-1240862/Judge-closes-credit-card-loophole.html

td_007

And why not?

jamesey07

thanks for this link I'm sure there is many more loopholes out their though to get out of paying, ignore neagitive people like that person a few up

oscar52

How many more times is this "old news" going to appear?

confused90

I don't really see the significance of this ruling, creditors were always still allowed to chase a debt even after unenforceability was effected, they could still ask for payment they just couldn't enforce payment or make threats of legal action etc etc.

This ruling may well put the average chancer off pursuing unenforceability simply to get something for free (i'm not condemning them for it god knows the banks have taken enough from the tax payer without a second thought) but if you have a genuine dispute or you are being harrassed by a particularly nasty DCA then you can still use the same principal to fight their collection efforts.

No matter what this ruling says the law remains that if a creditor or dca wishes to enforce or collect on a debt the burden of proof lies with them to prove the existance of a debt not on the debtor to prove the debt doesn't exist.

On the basis of the above if you are in dispute with a creditor who says you agreed to pay all of their excessive charges and penalties for example then i fail to see how they are going to prove that without producing a document signed by the creditor containing those terms and conditions.

it's a technicality which has again swung in the favour of the banks but in practise i doubt the impact will be that great for the majority of genuine customers who fall into dispute with creditors.

Still, fills a page in a newspaper.