Manchester lawyer wins couple’s 20-year debt battle

A COUPLE have had a debt worth over £400,000 written off following a 20-year battle with a loan company after a Manchester-based lawyer from Stephensons took up their case.

Geoffery and Rosemary Cranna, from Havant, originally took out the loan with Shearn Management.

After a while when their circumstances changed, they got into difficulty with the repayments and defaulted. The loan ended up being sold on to Jesswin Securities who chased the couple for the repayment of the debt.

Jesswin Securities took action to regain their money by trying to force their home to be sold, but the Judge granted a suspended possession order instead, allowing them to remain in their property with the help of a previous solicitor.

However, when they still could not keep up with their repayments, the lender sought to invoke the order and take their home.

The pair then instructed Liam Waine, a partner and specialist in consumer law at Stephensons Solicitors in Greater Manchester.

He managed to have the original loan the pair had taken out ruled as invalid.

Waine said the loan failed to contain some of the prescribed terms as required under the Consumer Credit Act 1974.  This meant they had been paying off a debt which was unenforceable and the suspended possession order should never have been granted on their home.

Waine said: “Unfortunately, over the years there have been many solicitors firms and claims management companies who purport to be specialist consumer credit lawyers.
“Mr Cranna sought legal advice from a solicitor who unfortunately overlooked a serious flaw in the original credit agreement, which meant that it was irredeemably unenforceable.”

The pair’s debt of £420,000 has now been written off and the charge has been removed from their property.