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Wednesday 03rd of February 2010

News Tag: court

January 27, 2010

Crystal Palace FC in administration

by Kay Murchie
”Crystal
Championship side Crystal Palace has gone into administration as a result of financial difficulties. In November, cash flow problems were highlighted after players were paid late on several occasions. The news comes just a month after Watford Football Club saw its shares suspended after its parent company, Watford Leisure, was on the verge of administration. Watford Leisure recently announced it would run out of ...



June 26, 2009

Charging Orders - the latest threat to indebted homeowners

by Gill Montia
”Charging
The Citizens Advice Bureau (CAB) claims that lenders are increasingly threatening customers in England and Wales with charging orders, in attempts to intimidate debtors into making unaffordable repayments. A charging order is a means of securing an unsecured loan against equity in the debtor's property. In a new report entitled "Out of order" the charity says evidence from ...



February 26, 2009

Millions of pounds set to return to customers as overdraft charges case thrown out

by Kay Murchie
”Millions
A ruling by the court of appeal could see millions of pounds returned to customers after the case of unauthorised overdraft charges was thrown out. The ruling follows a test case last year between the Office of Fair Trading (OFT) and eight High Street Banks with regard to charges for unauthorised borrowing and bounced ...



February 9, 2009

Think tank puts Courts in front line over repossessions

by Gill Montia
Think tank puts Courts in front line over repossesions
The Centre for Policy Studies has warned that very few households will benefit from government initiatives aimed at reducing the number of home repossession. The think tank, which was formed by Sir Keith Joseph and Margaret Thatcher in 1974, estimates that the recession will put over 145,000 households at risk of repossession, with a further 245,000 the subject of ...



October 22, 2008

New guidance for Judges hearing repossession cases

by Gill Montia
New guidance for Judges hearing repossession cases
Prime Minister Gordon Brown has today told parliament that county court judges will be receiving new guidance regarding actions brought by lenders to repossess homes. As Britain slips into recession, mortgage providers will have to demonstrate to the courts that repossession is only being sought where all other options have failed. The new measures will bolster current regulations from the Financial ...



October 1, 2008

New hope for SAMS mortgage holders

by Gill Montia
New hope for SAMS mortgage holders
Recent changes in the Consumer Credit Act 1974 mean that holders of Shared Appreciation Mortgages (SAMS) sold by HBOS and Barclays may be able to obtain compensation. SAMS were a form of equity release sold during the 1990s. They provided a loan secured against the future equity growth of a property. Under the arrangement, the SAMS provider is only repaid if the property is ...