• Skip to primary navigation
  • Skip to main content
  • Skip to footer
Logo
  • About Us
  • Home
  • Debt Purchasers
    • Arrow Global
    • Cabot Credit Management Group
    • Hoist Finance UK
    • Idem Capital Securities
    • Intrum UK Finance
    • Lowell Portfolio
    • PRA Group
  • Holiday Refunds
  • News Blog
  • Notable Cases
  • Links
  • Guides
  • Pricing
  • Contact Us
    • Your Secure Documents

April 27, 2019 By Joanna Connolly Solicitors

Debt purchasers who are not authorised by the Financial Conduct Authority cannot sue in the county courts

On 24 April 2019 Joanna Connolly was successful in a consumer credit claim appeal. The Claimant debt purchaser admitted they were not authorised by the Financial Conduct Authority but said they could rely on   because they had a valid servicing agreement in place with an affiliated 3rd party who was authorised by the Financial Conduct Authority. It was accepted by both parties that there was a valid servicing agreement in place.  The issue was could the Claimant debt purchaser rely on paragraph 55 of the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001 to issue proceedings in the county court.

The Circuit Judge held as a general principle of law that the Claimant debt purchaser was not able to rely on the FCA authorisation of an affiliated 3rd party ( paragraph 55 of the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001) for the purpose of bringing a claim. The agreement was unenforceable, and the order of the court below was set aside, and the Claim dismissed

Filed Under: Uncategorized

Previous Post: « Welcome to our new website
Next Post: Welcome Caron »

Footer

Joanna Connolly Solicitors

We specialise in consumer credit, with many years of experience, and unparalleled success in this complex field. We offer friendly help and advice, with affordable fixed fees. Unlike most solicitors, we never act for banks and lenders.

  • Experts in our field
  • Approachable and friendly
  • Fixed fees

Contact Us

  • 33 Cheadle Ave, Liverpool, L13 3AE
  • 0330 053 9340
  • Monday-Friday 9.00-17.00
  • enquiries@joannaconnollysolicitors.co.uk

If you are a client and we have made a contract with you by electronic means you may be entitled to use an EU online dispute resolution service to assist with any contractual dispute you may have with us. This service can be found at https://ec.europa.eu/odr. Our email address is enquiries@joannaconnollysolicitors.co.uk.

Connect With Us

  • Facebook
  • LinkedIn
  • Twitter

SRA Badge

Find Us

Privacy Policy | Copyright © 2021 · JCS Law Ltd trading as Joanna Connolly Solicitors · co registration number 12063047 · Registered address 33 Cheadle Avenue · Liverpool · L13 3AE · Authorised and regulated by the Solicitors Regulation Authority of England and Wales with registered number 660122
Created and hosted by LEAP · Log in

This site tracks visits anonymously using cookies. Close this dialogue to confirm you are happy with that or find out more in the Privacy Policy. Agree and close
Privacy & Cookies Policy
Necessary
Always Enabled