littlewoods direct credit agreement question

lostnfound

Hi, finally recieved my Littlewoods Credit Agreement but have one or two questions about it.
On the agreement should it show me my credit limit because mine doesn`t i would like to know what it was and try and work out how much they have taken off me in charges because the letter that came with it says my balance is £313.93 and in the last year I have paid them £220.00 but i am more than positive my limit was no more than £300.00.
I have had this account open since 29/11/04. I do know that in the last year i have had £220.00 worth of charges since January 2008, so by my understanding i could have paid this off ages ago maybe even 2 years ago.
Thinking of phoning Littlewoods to ask what my Credit Limit was do you think this is wise??

sorry for the waffle

lostnfound

Sorry shameless bump, but I am due to pay Littlewoods today and would like to be forearmed is forewarned (as the saying goes)

crazyfj

You can log in on line to littlewoods and check your credit limit

lostnfound

Tried that Crazyfj but as i defaulted my account shows zero credit limit, but thanks for your input

RAS

LNF

have you recieved your credit agreement or something that says it is a credit agreement? Please can you post it up?

UNLESS it says that your credit limit is £xxx or explains how this is to be determined, then the CCA is invalid.

lostnfound

Sorry Ras for taking a couple of days to get back to you, internet been playing up.
I recieved my a copy of my agreement and it has my signature,their signature, date i took it out, and my address some rules and regulations but no credit limit.
I dont have a scanner but will try and access one today after ive been to college that is, have an exam today and thats all i am thinking about the now.
Once i get it online hopefully someone can point me in the right direction.

Speak soon

lostnfound

http://s605.photobucket.com/albums/tt136/littletoes_2009/?action=view&current=scans-1.jpg

This a copy of my credit agreement from littlewoos hopefully someone can tell me if it is correct or not, thanks in advance

lostnfound

Well another day gone, where do they go, aah well never mind.
Be on here for a couple of hours if anyone can help me with my credit agreement posted link in previous post, should really be studying for Chemistry exam but a canny get my head round it the now so need some time away from it,so be hanging around if anyone has any answers,they would be most appreciated

RAS

Hi

Very hard to read but I cannot see the APR. Is that on?

RAS

Should help...............

Quote:
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 schedule.6 (1983/1553) regulations

(If you just want to find out, skip the bits in between the stars it’s just some extra information)

**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 Prescribed 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

A is applicable

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 and 4 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 Amendments 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 agreements executed before that date.

lostnfound

No APR on the document or any mention of credit limit.