High Court Ruling
The High Court considered the case of an individual, who was seeking to have his £17,034 personal loan from RBS declared unenforceable. It is now estimated that this ruling may affect over 100,000 consumers trying to get their credit card and loan debts written off. They will have to pay the full amounts they owe after this landmark court ruling in October 2009. The High Court decision could mean defeat for tens of thousands of similar county court cases, which have been put on hold until the test case involving Royal Bank of Scotland (RBS) was resolved. This should be a major blow for claims management companies heavily advertising that they can get debts written off and that millions of credit agreements were unenforceable.
