Consumer Credit Act 1995

Power of court to re-open credit agreement where charge is excessive.


48.(1) Where the Circuit Court has decided by virtue of section 47, that the total cost of credit is excessive, it may re-open the credit agreement so as to do justice between the parties and may decide to do any one or more of the following:

(a) relieve the consumer from payment of any sum in excess of the sum adjudged by the court to be fairly due in respect of such total cost of credit;

(b) set aside, either wholly or in part the agreement against the consumer;

(c) revise or alter the terms of the agreement; or

(d) order the repayment to the consumer of the whole or part of any sums paid.

(2) Where an agreement to which subsection (1) relates is a F85[high cost credit agreement] the court may also order the F86[Bank] to revoke, suspend or alter the F85[high cost credit provider’s licence] of the holder concerned either immediately or as from such date as the court may decide.




Substituted (14.11.2022) by Consumer Credit (Amendment) Act 2022 (13/2022), s. 15(1) and sch. 1 part 1 item 6, S.I. No. 575 of 2022.


Substituted (1.05.2003) by Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), s. 35(1) and sch. 1 part 21 item 15, S.I. No. 160 of 2003, subject to transitional provision in s. 36 and sch. 3 para. 20(1).