All articles by Nicola Hoskins
Nicola Hoskins
The rights before Christmas
As a new year of legislation dawns, Nicola Hoskins says goodnight to 2012
If all else fails…
Nicola Hoskins assesses when the threat of incarceration may be the only motivation left.
Fraud – one word, a range of dishonest behaviour
Nicola Hoskins of Optima Legal considers the pitfalls of false addresses and fake moustaches.
The ghost of Christmas past
Modern logbook loans are based on the Bills of Sale Act 1882, and successive governments have inexplicably preferred them to be left out of the main consumer credit arena, with the result that, even in 2011, the relevant law reflects the aim of the Victorian legislators protecting lenders assets without corresponding protection being given to borrowers.
Horror stories lurk in the CCD
The Consumer Credit Directive (CCD) has been with us for a good few months now, but does familiarity promote understanding
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Legal comment: Nicola Hoskins
The 3 Rs run through the core of all consumer credit business, yet it seems that the more the ranks of the rules swell, the less the requirements are clarified. Rights are in many ways the bottom line of consumer protection the right of consumers to be protected from unfair lending practices, and to have information provided to them, were the dual purposes of the 1974 Consumer Credit Act.
Finance companies allow chef to take the pizza
Bradford Crown Court recently dealt with the salutary tale of Mohammed Hussain, who obtained credit to purchase at least seven vehicles from different dealerships over a seven-week period in early 2008. Hussain knew he had a limited window in which to work, and made his applications within that window using his own name and the same income details each time.
Leaning on a lien
By the very nature of the asset involved and its inherent depreciation, time is of the essence and it is not until it is recovered and sold that the process of mitigating the loss can begin, followed by attempts to recover any shortfall and charges.
Logbook loans – a necessary evil?
Although logbook loans appear to be a relatively recent arrival in the UK high-cost credit market, their roots can be traced back to the Victorian era, with the 1854 Bills of Sale Act.
Promoting responsible lending
To re-cap briefly, its purpose is primarily to inform lenders of the principles they should have regard to when developing and implementing lending practices and procedures, as well as setting out examples of behaviour which is likely to attract the adverse attention of the regulator.