Unenforceability & Template Letters III

Im-Blue wrote: »

But I am keen on maybe trying this i have an outstanding loan for £11,500 roughly... but don't want the default! :-(

If it went to DCA's would'nt i get a default from the lender anyway, even if I was successful with F&F with DCA?

Hiya

Ok, regards to the defaults you already have you need to be sending this off the them: Request copy of Default Notice - Formal Demand

Lets see if they followed process yea? If not then i'll get them taken off your credit report for you.

Regards to the loan, what you have to work out is whether you can afford the £12k or not, if so then agree to repayment schedule - if not then you consider unenforceability.....

The default, well only one default per debt so lets assume the creditor sells to a dca then the dca defaults you, if you were to make them a good offer they will remove defaults, using a letter similar to this: Default Removal - Offer of F&F Settlement

Lenders however prefer full payment.

midastouched wrote: »

I know you're a busy man but I've just sent you a PM regarding some moral issues

Thanks again for all your hard work. Those flow-charts make the whole process crystal clear. :beer:

PM replied to - keep that part of the discussion separate from the thread mate

Im-Blue wrote: »

You know a lot about this don't you! thank you very much, your obviously very passionate about it :):A

I should do! I spend hours a day here :rotfl: :rotfl: :rotfl:

Seriously, I was the victim of ID Fraud and ended up with a silly amount of defaults, cifas entries and searches against me. I never had credit before so never knew.

It was all done at an address i've never heard of, albeit in the same postal town. The CRA's and lenders called me a liar and tried to enforce the debt (i'm talking in excess of £100k). I then learned the law inside out and fought back - to date I have had 4 payouts, lowest was £3k and largest was £7k.

I am still fighting another 23 cases of libel and trying to sort an out of court settlement - they will not pay up I know this, but point is each time they respond to me, I fight back dirtier and harder and I have even been asked by one bank if i'd work for them in their compliance department....

Imagine their horror if they knew I already did (I am sub contracted in by lenders to investigate financial crime, i.e. internal fraud) - ironic eh? :rotfl: :rotfl:

Just thought i'd update you on my circumstances and a few people here won't know much about why i'm involved in this like I am, other than a pure hatred for banks - its personal pleasure! :eek: :eek: The fact they also pay a subcontractor salary to me (i.e. above rate by 70%) makes me feel good cos i'm taking from them!

Im-Blue wrote: »

with regard to your default letters to send off, I can send that to the bank for the £400 default but not to the mobile phone companies as i didnt think they had to issue default notices anyway?

Again thanks a lot you are a STAR

No mate - mobile companies still have to send a default notice - just cos they are not under regulatory governance of the CCA does not mean they do not have to follow process!

They should issue a DN like everyone else...... s.87 & s.88 confirms what process should be followed (for credit related products - but the same applies to mobiles / utility companies etc):

Section(s) 87 & 88 of the CCA 1974 are quite clear, I quote:

s.87 - Need for default notice

(1) Service of a notice on the debtor or hirer in accordance with section 88 (a “default notice”) is necessary before the creditor or owner can become entitled, by reason of any breach by the debtor or hirer of a regulated agreement,

(a) to terminate the agreement, or
(b) to demand earlier payment of any sum, or
(c) to recover possession of any goods or land, or
(d) to treat any right conferred on the debtor or hirer by the agreement as terminated, restricted or deferred, or
(e) to enforce any security.

(2) Subsection (1) does not prevent the creditor from treating the right to draw upon any credit as restricted or deferred, and taking such steps as may be necessary to make the restriction or deferment effective.

(3) The doing of an act by which a floating charge becomes fixed is not enforcement of a security.

(4) Regulations may provide that subsection (1) is not to apply to agreements described by the regulations.

s.88 - Contents and effect of default notice

(1) The default notice must be in the prescribed form and specify

(a) the nature of the alleged breach;
(b) if the breach is capable of remedy, what action is required to remedy it and the date before which that action is to be taken;
(c) if the breach is not capable of remedy, the sum (if any) required to be paid as compensation for the breach, and the date before which it is to be paid.

(2) A date specified under subsection (1) must not be less than fourteen days after the date of service of the default notice, and the creditor or owner shall not take action such as is mentioned in section 87(1) before the date so specified or (if no requirement is made under subsection (1)) before those fourteen days have elapsed.

(3) The default notice must not treat as a breach failure to comply with a provision of the agreement which becomes operative only on breach of some other provision, but if the breach of that other provision is not duly remedied or compensation demanded under subsection (1) is not duly paid, or (where no requirement is made under subsection (1)) if the fourteen days mentioned in subsection (2) have elapsed, the creditor or owner may treat the failure as a breach and section 87(1) shall not apply to it.

(4) The default notice must contain information in the prescribed terms about the consequences of failure to comply with it.

(5) A default notice making a requirement under subsection (1) may include a provision for the taking of action such as is mentioned in section 87(1) at any time after the restriction imposed by subsection (2) will cease, together with a statement that the provision will be ineffective if the breach is duly remedied or the compensation duly paid.

Subsequently, s.87(1) of the CCA1974 clearly states that a default notice must be served before the creditor or owner can become entitled, by reason of any breach by the debtor.