| Case 02 |
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| SAMs Case Stories | |
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One victim who is young and energetic enough, has successfully persued his loss to the Bank of Scotland through the High Court. His loss, of the order of Ł700,000 is an obvious case of extortionate credit, created by an unregulated and un-capped product. The consumer credit act (1974) prohibits credit brokers, agent, banks etc from what is called 'extortionate credit terms'. As part of the out of court settlement, this victim is not allowed any further contact with SAMVICs. You can draw your own conclusions here! |
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