Victory for banks on credit cards

Customers who have been trying to avoid paying their debts by calling on their credit card companies to produce the original loan or card agreement have been foiled.

The High Court has ruled banks only need to provide a "reconstituted" copy of the agreement.

It could affect thousands of cases in the hands of claims management companies.

But the judge stressed the importance of providing an honest and accurate copy, pointing out that banks could not create loan agreements from scratch retrospectively.

Kevin Still of Atlantic says the result is good news to consumers, debt solution providers and creditors, commenting "it should focus indebted consumers on dealing with their debts and trying to take control of their finances.

"Debt solution providers want to negotiate with creditors to deliver a fair return, whilst representing the best interests of their client."

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