Keoghs, impecuniosity and pre-action disclosure

A number of solicitors have communicated with us to raise serious concerns about the templated pre-action disclosure applications being used to thwart the pursuit of claims on behalf of likely impecunious claimants. There is a solution to this challenge, a way to prove your client’s financial position in minutes. 

Background In 2017, UK banks were instructed by the Competition and Markets Authority to make customers data available to them in a standard format to facilitate 'Open Banking'. Using Open Banking customers can now access to all of their current account transactions by simply logging into their online banking portal via Open Banking service providers. 

Not only has this allowed banks and building societies to make extremely quick and effective lending decisions based on a customer’s ability to afford repayments, in addition it has allowed a number of Open Banking suppliers provide account summary reports to banks and other suppliers. This service has since been extended to include credit cards and other accounts for a limited number of banks and in certain circumstances. 

Benefit to the Credit Hire Industry

In 2019 it became apparent that this solution could be adapted to meet the requirements of the credit hire market. Indeed, the IDCo have developed a bespoke service and pricing model to meet the requirements of the credit hire market.

With nothing more than a few clicks customers can evidence their financial position and demonstrate their ability to pay for a hire vehicle from mainstream vehicle suppliers without the traditional and intrusive request of clients for the production of bank statements. 

The service is simple for solicitors to implement, is easy to execute, is consumer friendly and is destabilising parts of the defendant industry with its powerful reporting capability. A copy of the reporting functionality is available at the link below:

That functionality includes a dashboard that reports a customer’s financial position on a month by month basis. More significantly, the reporting can:

  • Be adjusted to centre on the date of an accident so that the reporting period supports the claim; 

  • Highlights major transactions so as to evidence, for example, a customer’s total loss payment being banked; 

  • Specifically identify loan and credit card payments to identify other factors impacting your customers decision to credit hire, and/or

  • Identifies other financial means that the client might have access to.

The reporting also includes a line by line transaction history equivalent to a bank statement and, having reviewed it, is something that has the potential to change the game for claimant solicitors and to put Keoghs, and others, back in their box.

To date, we are aware of four credit hire companies (or their panel solicitors) who are signed up to use this software interface. In addition, the first of those solicitors has been using the facility for about a year and has reported significant success. 

The software is definitely worth an early review and if anyone would like to see a demonstration, please email me at and we will introduce you to the solution provider.

Finally, and for transparency, the Credit Hire Forum has no financial interest in advancing this solution for your consideration.

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