Please Help! Newbie looking for advice and clarification

harrylime

Hi all,

I have a graduate loan with HSBC from 2002. It was topped up to consolidate an overdraft in 2004 over the telephone. I signed nothing.

I now read that I have the right to request and be sent a signed copy of the credit agreement. If they cannot produce this then the debt is unenforcable. Or so I am led to believe...

I would like to know what my position is with this. I am NOT disputing the debt. I have never missed a payment. What I want to query is their right to pursue and collect, which I am well within my rights to do, or so I understand.

Thanks for your time
Lime

milliemonster

Your post is contradictory, you are saying that you want to request a copy of your signed CCA from the HSBC as if they can't produce it then the debt is unenforceable, yet on the other hand you are saying you are not disputing the debt? so what are you trying to achieve?

If you have never missed a payment and are not disputing the debt then you are acknowledging the debt exists whether they can produce the CCA or not

harrylime

thanks for the prompt response.

what i am disputing is whether they have the legal right to collect and persue without a signed credit agreement, which as i understand (and i admit i may be wrong) i have the right to request.

am i correct in assuming that a letter quoting the relevant sections in the Consumer Credit Act 1974 is the correct 'tool' to use and i have a right to recieve a copy of any signed agreement?

milliemonster

Yes of course you have the right to request a copy of it.

harrylime

And so therefore, if they cannot provide me with one, they are unable to pursue and collect the debt?

or is it more complex than that?

shinyhead

You have a legal right under sections 77-79 of the consumer credit act 1974 to request a true copy of the credit agreement at any time. Should one not be produced within 12 working days plus 2 more to allow for posting then technically it falls into dispute, and you then have the right to stop paying.

I don't think though that anyone on this board would endorse using this as an excuse simply to stop paying a debt if the timescales aren't met on an account that is otherwise running as it should.

milliemonster

harrylime wrote: »

And so therefore, if they cannot provide me with one, they are unable to pursue and collect the debt?

or is it more complex than that?

essentially yes, but you have already said you are not disputing you owe this money so why are you trying to get out of paying it?

harrylime

ok that is fair enough....but when is a suitable time to use this letter?

shinyhead

I'm really not sure why you're asking this for Harry. What's not been mentioned is that it doesn't make the debt go away-as you've already said, you're right in your assumption that if your request is not met then it can't be enforced through the courts.

A suitable time is when you feel that you need to exercise your right under the CCA74.