Hire purchase ruling may help struggling families

A MOTHER and daughter have won a High Court case against a finance company which could help thousands of people trying to terminate hire purchase agreements and hand back goods bought on credit.

Michelle and Noreen Gabriel, from Togher, in Cork, took the case against GE Money and also the Financial Services Ombudsman, who ruled in favour of GE Money when the pair brought their difficulties to his attention.

Mr Justice Michael Hanna said there was “significant error” in the ombudsman’s decision and said a section of the Consumer Credit Act 1995 relied on by both the company and the ombudsman was being interpreted more restrictively than was intended by the legislature.