Review | 14 December 2016

Key issues: 

Elements of a valid contract for credit card facilities | Debt assignment | Disclosure of credit card terms and conditions | Obligation to repay credit card debt

Summary of the complaint:

We found that the consumer’s claims had not been established. This is because a valid contract for the credit card facility existed between the original financier and the consumer. Furthermore, we consider that the original financier properly assigned the debt to the FSP. As such, we found that the consumer was liable for the debt incurred on the credit card facility and is obligated to pay the outstanding debt to the FSP.  

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This Review was referred to the Ombudsman for a Determination.