We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
What constitutes a "true signed copy" of a CCA?
Options
Leixlip1
Posts: 372 Forumite
I have eventually been supplied (outside of the 12+2+30 period) with a copy of a form headed "priority application" with the account number hand written across the top and containing a box headed "credit agreement regulated by Consumer Credit Act 1974" signed by me.
Is this a true signed copy of a CCA? Does it need to be countersigned by the credit card company?
Any advice greatly appreciated.
Is this a true signed copy of a CCA? Does it need to be countersigned by the credit card company?
Any advice greatly appreciated.
0
Comments
-
I think both parties need to have signed it unless it's a credit card mailer. Not 100% though. I got one back that isn't even in my handwriting yet the Halifax claim it is!Almost debt-free, but certainly even with the Banks!0
-
Hi Leixlip - In your case, as the CCA was not provided within the 12 working days, any 'cca' that has been supplied, now, is totally unenforceable unless the creditor gets a Court Order.
Also, I would take what they have sent you, to the CAB, to check, but it sounds, to me, as if they have sent you your original application form, although the wording in relation to the CCA sounds about right,
But, as I said, in order to enforce the agreeement, they now need a Court Order - that would verify it one way or the other.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
hi
A true executed CCA has to have the following information in it:
IS MY AGREEMENT ENFORCEABLE( Via section 127(3) CCA1974)
PRESCRIBED TERMS FOR THE PURPOSES OF SECTIONS 61(1)(0) AND 127(3) OF THE
CONSUMER CREDIT ACT 1974 Taken from sced.6(1983/1553) regulations
**What do we mean by unenforceable?
In the Consumer Credit Act section 127 there is a provision for making an agreement unenforceable if it does not contain certain pieces of information.
Subsections 1,2,3,4 state which pieces of information these are, and everything mentioned there must be included within the body of the agreement, if one is missing the agreement is unenforceable.
How does unenforceable differ from enforceable with a court order only?
When an agreement is unenforceable it means that the court or the judge cannot make a ruling on it. The court cannot make it enforceable.
When an agreement is enforceable only by ruling of the court it means that the agreement can be stopped by the debtor but the court has the power to re-instate it and allow the credit to continue to enforce.**
The Pescribed Terms are these
A Amount of credit
A term stating the amount of credit
B Repayments
A term stating how the debtor is to discharge his obligations under the agreement to make the repayments, which may be expressed by reference to a combination of any of the following-
(a) Number of repayments;
(b) Amount of repayments;
(c) Frequency and timing of repayments;
(d) Dates of repayments;
(e) The manner in which any of the above may be determined; or in any other way, and any power of the creditor to vary what is payable.
C Rate of interest
A term stating the rate of interest to be applied to the credit issued under the agreement
D Credit limit
This may be a term or the manner in which it will be determined or that there is no credit limit.
Which of these applies to you depends on the type of agreement you have?
For a Running Account (credit card) agreement
BC and D Apply
For a Restricted Use Debtor Creditor Supplier- Where the dealer is the supplier and the creditor is the one providing the finance.
- The money can only be used for the purpose it is given.
- There is no interest on the purchase (the cash price is the same as the total price)
- And there is no advance payment
For a fixed Sum Credit Agreement
A conventional credit agreement with none of the above restrictions
A and B apply
For a Hire Agreement
B is Applicable
This paper only covers section 127(3) of the Act agreements can also be unenforceable by contravention of sections 1 and4 this will be the subject of the next paper.
Please note that these Prescribed terms where not changed in any way by the 2004/1482 Ammendments although the form in which they appear on the agreement was. Subsection127(3) was repealed on the 6th of April 2007 so that unenforceability due to 127(3) will only apply to agreemens executed before that date.
So I would guess that if it is an application form, then it wont state the credit limit, therefore not enforceable.0 -
Thanks weller & rog2 - your assistance is appreciated.
The document they sent me is also ilegible in parts which is not helpful.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards