Legal loophole hampers bank debt recovery

Banks that outsource debt collection functions risk failing to enforce recovery, recent legal cases have shown.

4th May, 2014

Banks that outsource debt collection functions risk failing to enforce recovery, recent legal cases have shown.

A law dating back to 1879 is behind the difficulty, according to a legal expert.

Ulster Bank and Bank of Scotland have both lost cases in the High Court that found officials acting on behalf of the banks were not permitted to confirm a particular debt was due to the bank, because they were not direct employees of the banks...

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