High Court takes a view on repeat borrowing as an indicator of financial health: Kerrigan v Elevate Credit International

A failure to consider the financial difficulties that repeat lending might cause a customer is likely to result in a breach of a consumer credit firm’s statutory obligations under the Consumer Credit Sourcebook (“CONC”) and have an effect subsequently on the fairness of the relationship between a creditor and debtor under the Consumer Credit Act 1974 (“CCA”).

Continue reading