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bengateway

Interest after judgement, is there a definitive answer ???

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Well a google search took me to this thread http://www.consumeractiongroup.co.uk/forum/showthread.php?201853-Old-CCJ-(1998)-still-valid-adding-interest/page4

 

So from there and following the last posters advice I decided to start a new thread on this subject to see if any clarification or guidance can be given with how best to deal with say, an old 1st national bank cca that has fallen foul to a ccj and after many years of being paid at a rate decided by a county court, finds its way into the hands of a third party interloper.

 

It would appear that a clause that has been the subject of legal proceedings ie Office of fair trading vs 1st national bank has been deemed fair in the way the clause is phrased.

However all the lords present had deep concerns regarding the implications of such a clause and the fact that a situation could develope where a debtor could pay the judgement debt, only to be faced with a contractual interest debt that has been building up seperately and in many cases without the debtors knowledge.

The Lords refer to an unfair relationship between creditor and debtor could easily exist as a result.

And the fact that the court does have the power to alter the terms of such a contract or place a time order against it.

Often Judges are so overwhelmed with a mountain of claims that such an interest after judgement clause can be missed to the detriment of the debtor.

Who is then hit with a second debt accrued from contractual interest and often greater than the sum of the original debt.

Has anyone any experiance on how to best deal with these issues ??

I would draw your attention to the link provided above from an older post that seems to have been left with no real conclusions.

Any guidance or advice even possibly a game plan with different options would be appreciated by many who may well find themselves in this position.

Many Thanks in anticipation of your replies.

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