Writing off loans taken out before 2007

maiseymoo_2

Hello all,
Just a quick question. I have seen lots of ads in newspapers and on the radio stating if you took a loan out before 2007 (I think) it may not be legal and could be written off. Does anyone know anything about this?
Thanks, Maiseymoo

fermi

Read: http://news.bbc.co.uk/1/hi/business/7894840.stm

You can ask for the CCA yourself though.

Can be useful if you are getting hassle from creditors.

CCA request - Getting a copy of your credit agreement and account details.

Link to factsheet: Factsheet | Getting a copy of your credit agreement, account details and a statement of account.

Link to online version: Sample letters | Letter if you want a copy of your credit agreement and/or a statement of the account and the creditor has so far refused to send you a copy free of charge.

(Your home address)

Date:

To:

Dear Sir/Madam

Account No: _____________________________

With reference to the above agreement, I/we would be grateful if you would send me/us a copy of this credit agreement and a full breakdown of the account including any interest or charges applied. I/we understand that under the Consumer Credit Act 1974 [sections 77-79], I am/we are entitled to receive a copy of any credit agreement and a statement of account on request.

I/we enclose a payment of £1 which represents the fee payable under the Consumer Credit Act 1974.

I/we understand a copy of any credit agreement along with a statement of account should be supplied within 12 working days.

I/we understand that under the Consumer Credit Act 1974 creditors are unable to enforce an agreement if they fail to comply with the request for a copy of the agreement and statement of account under these sections of the Act.

I/we look forward to hearing from you.

Yours faithfully


Print your name, don't sign.

RAS

maisie

This is NOT correct.

If you type CCA into here you will find loads of threads where people request the Consumer Credit Agreement.

If a debt was taken out before April 2007, the creditor has to produce a signed CCa if they enforce the debt in the courts.


Despite the fact that this had been law for thirty years, many creditors lent money without making sure they had the required legal documents.

The debts still exist but they become unenforceable in the courts.

It costs £1 to do this and the OFT has warning aout about the companies that offer their services.

A lot of main stream banks which offered loans on their premises have been using the right paperwork for decades. However catalogues and a lot of storecards are badly documented prior to 2006. You just never know.

We also encourage people to chase PPI and recalim unfair charges.

massivedebts

RAS wrote: »

maisie

This is NOT correct.

If a debt was taken out before April 2007, the creditor has to produce a signed CCa if they enforce the debt in the courts.
.

Hi
Hope you don't mind me posting- RAS is it only worth requesting a CCA if my loans/CC were taken out prior to 2007?
Thanks
MD xx