High Court Considers the Assignment of Consumer Credit Agreements

    September 2012

    On 22 August 2012 Mr Justice Hamblen (sitting in the High Court and on appeal) handed down judgment in Patricia Jones v Link Financial Limited [2012] EWHC 2402. This considered an important issue for buyers (and sellers) of regulated consumer credit agreements: whether the assignee of a debt was a ‘creditor’ for the purposes of the Consumer Credit Act 1974 (the “CCA 1974”). In a sensible and pragmatic decision, the High Court decided that an assignee is a ‘creditor’ under the CCA 1974 and is therefore entitled to enforce the agreement against the debtor.