Consumer credit
Date: 13 March 2009
Issue: Vol 159, Issue 7360
Categories: Law digest, Case law
Nolan v Wright [2009] EWHC 305 (Ch), [2009] All ER (D) 45 (Mar)
A claim under s 137 of the Consumer Credit Act 1974 to reopen an extortionate credit bargain constitutes a statutory cause of action within the meaning of s 8 of the Limitation Act 1980, and so a 12-year limitation period applies unless the claim expressly extends to the repayment of money previously paid under the credit bargain, in which case the application will be governed by s 9 and subject to a six-year limitation period accordingly.
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