University tuition fees and discretionary leave to remain – Hardwicke Chambers

‘Recent press coverage1 has highlighted a black hole in the government’s finances concerning student debt. A mis-calculation in the number of graduates who will earn enough to repay their loans has meant that, should the number pass the 48% mark (which appears likely – it is currently at 45%, having already been raised from an initial figure of 28%) the government would have been better off keeping to the £3,000 a year tuition fees regime. Little comfort to those students subject to the £9,000 a year rate of fees, but there is another group of people who view students with access to university loans on any terms as the lucky ones: those with discretionary leave to remain (“DLR”).’

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Hardwicke Chambers, 8th April 2014

Source: www.hardwicke.co.uk

Panorama bailiffs investigation to be aired after high court bid fails – The Guardian

Posted April 8th, 2014 in bailiffs, BBC, debts, injunctions, media, news by sally

‘The bailiff and star of BBC show The Enforcers has failed in a high court bid to stop a John Sweeney Panorama investigation into debt recovery being broadcast.’

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The Guardian, 7th April 2014

Source: www.guardian.co.uk

Crackdown to stop bailiffs using aggressive tactics – BBC News

Posted April 4th, 2014 in bailiffs, debts, enforcement, news by sally

‘Sweeping changes to the way bailiffs can enforce the repayment of debts come into force on Sunday.’

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BBC News, 4th April 2014

Source: www.bbc.co.uk

Quarter of payday lenders may quit under tougher rules – BBC News

‘One quarter of payday lenders may pull out of the market under pressure from new regulations. The Financial Conduct Authority (FCA) is to investigate the way they treat borrowers struggling to repay loans. It has said the review will be one of its first actions when it takes over regulation of the consumer credit sector on 1 April.’

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BBC News. 12th March 2014

Source: www.bbc.co.uk

OFT warns universities about sanctions on students in debt – The Guardian

Posted February 19th, 2014 in consumer protection, debts, disciplinary procedures, news, ombudsmen, universities by sally

‘The Office of Fair Trading has written to more than 170 universities and other higher education groups warning that the widespread practice of stopping students graduating or continuing with their course if they owe money over issues such as late library books or childcare services could breach consumer laws.’

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The Guardian, 18th February 2014

Source: www.guardian.co.uk

‘Logbook lenders’ are flouting the law, say debt advisers – The Guardian

Posted February 17th, 2014 in debts, financial regulation, loans, news by sally

‘Innocent car buyers can lose their vehicles under ‘bills of sale’ rules dating back to the Victorian era.’

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The Guardian, 16th February 2014

Source: www.guardian.co.uk

Salliss v Hunt – WLR Daily

Salliss v Hunt [2014] EWHC 229(Ch); [2014] WLR (D) 56

‘When considering whether or not to grant an application to annul a bankruptcy order there was no reason in principle why the court should take any account of a debt due to a creditor where the creditor was aware of the bankruptcy but had never submitted a proof and had made an informed commercial decision not to lodge one in the future.’

WLR Daily, 10th February 2014

Source: www.iclr.co.uk

Davis and another v Price and another – WLR Daily

Posted January 23rd, 2014 in appeals, bankruptcy, debts, individual voluntary arrangements, law reports, news by sally

Davis and another v Price and another [2014] EWCA Civ 26; [2014] WLR (D) 16

‘The reference to a “further meeting” in section 262(4)(b) of the Insolvency Act 1986 in relation to a nominee was a reference to a “further meeting under section 257” of the Act.’

WLR Daily, 21st January 2014

Source: www.iclr.co.uk

Payday lenders’ default fees could break the law – The Independent

Posted January 13th, 2014 in consumer protection, debts, fees, loans, news by tracey

‘Many payday lenders could be breaking the law by charging excessive default fees to borrowers who miss repayments, according to Which? An investigation by the consumer group revealed that 10 of 17 leading payday lenders have default fees of £20 or more, and four charged £25 and above, with Wonga topping the table at £30.’

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The Independent, 13th January 2014

Source: www.independent.co.uk

Payday loan costs cap unveiled by George Osborne – The Guardian

Posted November 25th, 2013 in debts, interest, loans, news by tracey

‘George Osborne said the cap on the overall cost of credit was the next logical step as the coalition sought to regulate what had been a wholly unregulated market.’

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The Guardian, 25th November 2013

Source: www.guardian.co.uk

Worcester loan shark burned to death by debtor – BBC News

Posted November 8th, 2013 in assault, burglary, debts, fire, homicide, news, sentencing by tracey

“A man who burned to death a loan shark to whom he owed money has been jailed for 10 years.”

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BBC News, 8h November 2013

Source: www.bbc.co.uk

A negative note – New Square Chambers

Posted November 5th, 2013 in appeals, debts, mortgages, news, repossession, sale of land by sally

“As everyone knows, a mortgagee may go into possession before the paper has cooled down after coming out of the printer, or something like that. But under modern conditions, and particularly with residential mortgages, the strictness of this rule is reduced or removed by agreement or the impact of statute. Even so the principle that the mortgagee is entitled to possession and the limits on the court’s power to deny him that entitlement means that a mortgagor in distress may have very little control over his fate.”

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New Square Chambers, 31st October 2013

Source: www.newsquarechambers.co.uk

NCA suffers Supreme Court defeat on assets recovery marshalling claim – 11 Stone Buildings

“On 23 October 2013, the Supreme Court gave judgment in Szepietowski v. the National Crime Agency (formerly the Serious Organised Crime Agency, ‘SOCA’). The case is now the leading authority on the marshalling of securities and will be of interest to those advising banks and other businesses involved in secured lending. The case, however, will also be of general interest in light of the Court’s consideration of the principles applicable to the construction of settlement agreements which involved the Court distinguishing the decision of the House of Lords in Bank of Credit and Commerce International v. Ali [2002] 1 AC 251.”

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11 Stone Buildings, 23rd October 2013

Source: www.11sb.com

National Crime Agency v Szepietowski and another – WLR Daily

Posted October 30th, 2013 in appeals, assets recovery, debts, equity, law reports, mortgages, proceeds of crime by sally

National Crime Agency v Szepietowski and another [2013] UKSC 65; [2013] WLR (D) 408

“The equitable remedy of marshalling was not available where the security held by the second chargee did not secure an underlying personal debt of his to the chargor. Therefore the National Crime Agency, having agreed to take a second mortgage over a property in settlement of its claim that it had been purchased by its owner with the proceeds of crime, could not, when the sale of the property only realised sufficient funds to pay off the debt secured under a first mortgage to a bank, require the bank to enforce its security against another property mortgaged by the owner to that bank.”

WLR Daily, 23rd October 2013

Source: www.iclr.co.uk

The Importance of Being Earnest – NearlyLegal

“We have seen Santander having trouble in mortgage possession proceedings in Northern Ireland recently. Here is another example which could perhaps, indeed maybe should, have been avoided, if the lender had actually taken proceedings sufficiently seriously.”

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NearlyLegal, 11th October 2013

Source: www.nearlylegal.co.uk

Up to 450,000 face court over council tax arrears – The Independent

Posted October 11th, 2013 in council tax, debts, local government, news, taxation by sally

“More than 450,000 people could already have received a court summons because they have fallen into arrears with their council tax payments following changes to the system, it was claimed.”

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The Independent, 11th October 2013

Source: www.independent.co.uk

Domestic abuse victims should have right to keep address secret, say campaigners – Daily Telegraph

Posted October 7th, 2013 in children, debts, disclosure, domestic violence, news, privacy, victims by sally

“A woman is calling for new laws to allow victims of domestic violence to withhold their addresses in court to protect them and their children.”

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Daily Telegraph, 6th October 2013

Source: www.telegraph.co.uk

Payday lenders: FCA proposes tougher controls on adverts and rollovers – The Guardian

“Payday lenders will be forced to make tougher affordability checks under a crackdown by the City regulator that could stop borrowers being given loans within minutes of applying.”

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The Guardian, 3rd October 2013

Source: www.guardian.co.uk

Criminals to be fined for damage caused in jail – Daily Telegraph

Posted September 30th, 2013 in criminal damage, debts, fines, news, prisons, statistics by sally

“Criminals who damage prison property will have their jail wages docked to pay for the cost of repairs, under new measures announced by Chris Grayling, the Justice Secretary.”

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Daily Telegraph, 29th September 2013

Source: www.telegraph.co.uk

Breaking news for astrophysicists: Black holes can collapse – Hardwicke Chambers

Posted September 25th, 2013 in costs, debts, insolvency, landlord & tenant, news, pensions, Supreme Court by sally

“OK, so the title perhaps implies that what follows is more interesting than it is. However, the most recent decision of the Supreme Court in the Nortel/Lehman litigation is of considerable importance for all of us, particularly in the current economic climate.”

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Hardwicke Chambers, 23rd September 2013

Source: www.hardwicke.co.uk