Articles
Banking, Finance & Financial Services 24th Jan 2019
Limitation and section 87 of the Consumer Credit Act 1974
In Doyle v PRA Group (UK) Ltd [2019] EWCA Civ 12, the Court of Appeal has decided that where a borrower defaults under a regulated credit agreement, the lender’s cause of action to recover a debt becoming due by reason of the default does not accrue until:
- the lender has served a statutory default notice under section 87(1) of the Consumer Credit Act 1974, and
- the time specified in the default notice for the borrower to remedy the default has expired without the default having been remedied.
See Julia Smith’s alerter here.
Barristers
Would you like to know more?
If you require help or advice please contact our clerking team
Call - +44 (0)20 7583 9020
or email our clerks
