the solictors cannot rip statute law to shreds. they can only present evidence that proves it doesnt apply.

The link posted by iain uses excerpts of the key important phrases used in the written statutes and acts.

also a solicitor cannot challenge the interpretations as they are clear too.

The only basis is to say that the purchaser ought to have reasonably known, and to win that arguement they will have to provide some evidence to back it up.

The finance laws in this country are mostly written to protect the consumer from dodgy and illegal practices. Debt recovery is only part of it.

It certainly wouldnt decimate the lending arena any more than it already has been decimated

Why do you think lenders go after the original purchaser so aggressively when they default on a hp car in the first place? because ones the car is sold on its much harder to get any money back, where as it is relatively simple and pain free to repossess a car from the original owner.