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Blow for claims management culture as bank wins case

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Blow for claims management culture as bank wins case

In a case described as “invaluable” to lenders, Royal Bank of Scotland has emerged victorious in court after a consumer failed to get his £17,000 loan written off by a claims management company. 

As reported in, Mr Justice Flaux decided that claimant Phillip McGuffick, who argued that his loan was irredeemably unenforceable under sections 61 and 127 of the Consumer Credit Act 1974, was still liable for the money owed.
The Commercial Court at the Royal Courts of Justice heard that since August 2006 only two repayments had been made to RBS. 10 repayments of £346 had been due and the account was subsequently referred to a number of credit reference agencies.
Mr McGuffick’s solicitors, MJP Justice, argued that the credit agreement was unenforceable as no reference had been made to credit reference agencies in the original document.
However, the judge found in favour of RBS, ruling that the bank could not be stopped from reporting Mr McGuffick’s non-payment to credit reference agencies.
Now legal experts have predicted that this case will go a long way in undermining the practices of claims management companies, and that consumers should be made aware that their credit rating could be affected by dealing with these firms and halting loan repayments.  

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