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OFT take action on charging orders

View profile for Andrew Leakey
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Great news from the OFT this week. They have cracked down on charging orders. This is where a lender attaches a debt to someone's house. They can then try to sell the property. Lenders had been doing this for debts of £600 or less in some cases. So people could lose their house for less than £600 owed on a credit card for example.
 
Firms that were warned by the OFT included Santander, American Express and HSBC. They are of course three of the biggest names in the banking world.
 
We've defended loads of these cases in the past, but the current proposed legal aid changes would prevent that. Does that seem fair?
 
Click here to read the article in full
 
By debt solicitor, Andrew Leakey
 

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