Catalogue Debt

Harassed_2

When I took out my egg loan 5 months back I just had to go to a webpage they sent me via email then simply tick a box to say I agree with their conditions so technically they dont have my signature on file!

Then they are open to challenge. The Consumer Credit Act 1974 is quite specific on this fact.


61 Signing of agreement

(1) A regulated agreement is not properly executed unless—

(a) a document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60(1) is signed in the prescribed manner both by the debtor or hirer and by or on behalf of the creditor or owner

sandy_smith_2

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Oh thats interesting!

Tootsie_Roll

sandy_smith wrote:

Surely this cant be the case! Egg and Lloyds tsb now dont send out credit agreements for you to sign! When I took out my egg loan 5 months back I just had to go to a webpage they sent me via email then simply tick a box to say I agree with their conditions so technically they dont have my signature on file!

Im sure these catalogue companies could enforce these debts but it may just be too much hassle for the sums involved!

Although I'm no expert so if I'm wrong please correct me.

You're absolutely correct, Harrassed is on a mission to try and prevent banks and DCA's from collecting monies that are owed. All his posts suggest ways of trying to wriggle out of paying and unfortunately a lot of people will take his advice - and he's the one who syas we have no morals :rolleyes:

Harassed_2

Illegally trying to collecting monies that are owed

Follow the law, no problem. Break it, and you get a hard time.

code-a-holic

In January i wrote a leter - copier from here! - to Argos additions (now additions direct) requesting the signed agremnt. I enclosed a £1 cheque. On the 3rd of Febuary the cheque was cashed. I have recieved no leter or phonecall from them. So i ring today and ask what the problem is. They have no record of a letter or a £1! They say as the account was passed to moorcroft, they would hold no information and anything i send in relation to it would be ignored....but he is speaking to the manager and going to ring me back. He was very intersted actually!
Moorcroft tell me they are never given signed agrements when they buy a debt.
Any ideas what to do? Do i send a leter to both companies saying as no agreement has been produced within the timescale given, that i am not liable for the account or something else?
Help please?!

amosworks

What about the debts that people are chasing others for that aren't their debts? For example, I've recently read about 3 lots of confused names where the debt collection agency is chasing up a family member or someone completely different for a debt that simply isn't theirs!

But if the law is quite simple and without a signed agreement the debt is unenforceable, and it seems likely this agreement will never be presented, surely everyone on here should be happy.

I hate to point it out to you, but the little stamp on the left says CONSUMER REVENGE and Martin himself blatantly admits that it's all about legally screwing companies back.

So IMHO anyone who's now standing up for the rights of the debt collection agencies is probably being employed by them. A proper MSE'er would be over the moon.

Amanda65

Harassed wrote:

Can't quite understand all the morality (?) posts about companies that sell goods for about 200% above street value, and then add various charges and penalties.

Whether they are above street value or not is immaterial - no-one forced people to buy these goods from the catalogue company, it was their choice. I know in the past I have purchased items as it then allows me to spread the payments and I accept that to do this I have to pay a premium. The alternative would have been to pay up front and possible end up with CC or overdraft charges. Once my debts are clear I am going back to the idea that I only buy goods I can actually pay for there and then, and if I can't I'll have to save a little bit harder!

ceegee

Harassed wrote:

Nothing of the sort. Merely pointing out the fact that if catalogue companies wish to use the law, they should follow it.

Can't quite understand all the morality (?) posts about companies that sell goods for about 200% above street value, and then add various charges and penalties.

It's not just legal issues, Harassed, it's moral issues too.

And I agree with what Amanda said.....nobody MAKES people buy stuff out of catalogues.

Broken_hearted

It's stealing and fraud you bought it you pay for it. The catalogues won't loose money they will fire staff and hike up prices. This thread makes me so mad. I owe littlewoods £250 for stuff I can't even remember what I bought but by the end of May (hopefulluy) it will be paid off. It's a good lesson next time I will save up and buy cheaper fromn a shop, I wont look for a get out clause. :mad:

QueenB.

On the whole i fully agree with alot of people who have replied here. I think no matter what the prices are etc if you make the choice to purchase from these companies and keep the products then you should pay, afterall it comes down to taking responsibility for your own actions, pay and learn the lesson.

However for those really struggling this may help them get payments reduced or at least give them a way to claw some control back.............if it works............that sense of control is something we are all trying to get in different ways and knowing our rights is one of the first steps............but as i said thats if it works, and if you feel its worth the black mark on your credit file. :undecided