Bank Notes

N - Notices of default etc

23/1/19

DOYLE v PRA GROUP (UK) LTD [2019] EWCA Civ 12

A cause of action for repayment following default under a credit agreement regulated by the Consumer Credit Act 1974, only arises after the time specified in the default notice for remedying the default has expired, not when the default occurs.

18/7/13

EVANS v FINANCE-U-LTD [2013] EWCA Civ 869

The defendant was entitled to delivery up of a car on which it had been given a bill of sale as security for a loan to the claimants. Although the claimants had no personal liability because each of them had been made bankrupt and been discharged from bankruptcy, the Insolvency Act 1986 preserved the defendant’s right to enforce its security. That right had not been lost by the defendant proving in the first claimant’s bankruptcy for the full sum owed under the loan agreement because the defendant had disclosed its security in its proof even though it had not attributed any value to it. The loan had been regulated by the Consumer Credit Act 1974 but it was doubtful that service of a default notice under s 87 was appropriate once the claimants had ceased to have any personal liability. Until the term of the loan expired, service of a termination notice under s 76 and/or enforcement notice under s 98 would have been necessary. But once the term had expired no such notice was necessary to entitle the defendant to delivery up.

Comment

20/3/12

SANTANDER CARDS (UK) LTD v MAYHEW [2012] EW Misc 14 (CC)

On the facts found at trial, a credit card agreement was unenforceable because the terms and conditions had not accompanied the application which the debtor signed and no fresh agreement had been supplied when the agreement had been modified to upgrade the card. A default notice had also been defective because it had wrongly stated the sum due and had not included an OFT fact sheet.