Debt write-off cases to continue in court, judge rules 21 May 2009 at 4:18PM in Loans 11 replies 3.5K views

Former_MSE_Guy

This thread is to discuss the following news story:

Debt write-off cases to continue in court, judge rules

cyril82

The right decision in my view, the law regarding this is clear enough.

I know that this topic splits those who have an interest in consumer affairs but i try to ignore the moral side of it, the law states certain agreements are unenforceable but only if there is something wrong with the agreement, this can be a genuine mistake, it can even be as a result of the bank losing the original agreement, in some cases it can be because of more underhanded actions by the lender when drawing up the agreement, such as understating the interest rate or omitting certain things from the agreement.

Either way if a bank loses out to a claim it is due to either their own incompetence or underhandedness.

Much the same way as if we misunderstood an interest rate when signing an agreement the bank would take the view of "well that’s your own mistake" i'm afraid if they make a hash of composing or managing an agreement i'm firmly of the view "sorry banks that’s your mistake, you have to pay the price".

Anything that benefits the consumer over the banks is good in my book, they seem to have too much power and not enough power is held by consumers, in my book this just tilts the scales slightly back our way.

graz126

i heard that i can request a copy of the agreement with my credit card company from them. is there any template letters of any way of going about this. and do i have to give them a cheque for £10 pound along with the resquest? my card was with yorkshire bank and now stands with a debt collection agency. the card was taken out a long time before the 2007 date that seems to keep cropping up.

marshallka

graz126 wrote: »

i heard that i can request a copy of the agreement with my credit card company from them. is there any template letters of any way of going about this. and do i have to give them a cheque for £10 pound along with the resquest? my card was with yorkshire bank and now stands with a debt collection agency. the card was taken out a long time before the 2007 date that seems to keep cropping up.

You just request it under section 77/78 of the CCA I think and give them 12 days and its costs you £1.

chippy37

I wondered if someone can help me. Me and my partner took out a personal loan in 2004. it was for £7,500 plus interest.at 9.9% apr.
We had some financial difficulty and havent paid it all back yet. They keep putting default charges (£30 a go) and has made the amount we owe go upto £3000. We never ever had a statement in 5 yrs then early this year, they sent one. They said by law they have to send statements. So how come they sending them now and we havent had any in years? And how do you know whether your agreement is unenforcable or not. I dont even think i have got the agreement. Somebody help me please.

iolanthe07

The law about sending statements only came in recently. All lenders have to do it now. If you've lost your copy of the agreement you are entitled to demand a copy from the lender. I think there is a fee involved; someone will come along soon and advise you what to do, as the subject of unenforceable loans comes up at least once a week.

chippy37

Instead of getting a rip off solicitor to have a look at my loan agreement, is there a way i could do it myself? How would i be able to get another loan agreement from 2007 and check it with mine from 2004? if i could do that then i would be able to look through it myself and see the difference. somebody help. my loan is with black horse.

orangetrader

I'm all for doing certain things myself but there are times when it pays to get somebody in who knows what they are doing (or so my wife keeps telling me).

You don’t need to pay to get the assessment check (as I posted previously there are a couple of companies that do the assessment free-of-charge). That way, you will know if you have a case or not. You can then approach the lender directly and try to get them to agree with your way of thinking. If they do not see things your way, you will need to take the case to court. But be warned, representing yourself in court with limited knowledge of the credit act and no legal experience would be akin to being thrown to the lions. The only difference is you would not be thrown as you will have done the throwing yourself.

Many regional county court judges are unfamiliar with this area of law (hence case conference at chester cc) so you need to know it inside out and be able to bat back any spurious legal arguments which the other side may throw. Even with a good solicitor there’s no guarantee of success. Could you afford the legal costs if you lost and/or needed to appeal?

chippy37

Would you be able to give me the names of the companies that check it over for free please? There is one company called Kerobo but they charge you between £300 - £500. i havent got that money, hence trying not to pay my rip off loan back. Most of it is default charges anyway.
If i was to get it back my self i would study it before i went to court, yes i would be willing to give it my all.

silveragilent

Hi - I have contacted a company called one debt solution who try to challenge all your agreements with creditors on your behalf, charging 8% of the debt over the months that you on a payment plan with them.
What do you think of this please - or should I just go with CCCS who I have also contacted?
Thank you
Best regards
Charlie

jennihen

Don't pay anyone to help you get out of debt. Stick with the CCCS and read as much as you can from this site. You'll find everything you need here for free as well as moral support.
Good luck!