Judge orders cancellation of couple’s €576,000 debt

A JUDGE in Britain yesterday wiped out a couple’s debt of €576,000, which had spiralled out of control from an original loan of €8,645.

Tony and Michelle Meadows, from Southport, Merseyside, faced losing their home after they were taken to court by London North Securities for failing to keep up with repayments on their loan, which had an APR of 34.9%.

The ruling by Judge Nigel Howarth at Liverpool County Court is expected to have far-reaching implications for consumers and lenders alike.