Incorrect Credit agreement

shayshay

Silly question but those credit agreements which are invalid rendering the loan/cards invalid etc are they literally down to the fact the agreement is not signed or is there something else?

Seen many companies offering to check over agreements but at a cost, just wanted to know if this was something that could be done for free.

Tixy

Hi Shayshay. Yes this can be done for free by yourself with help from the some of the people on here.

Pre April 2007 agreements had to include various specific terms, needed to mention about interest rates, something about a credit limit and various other clauses as well as be a signed agreement (not sure exactly what)

Please don't pay anyone to do this - you can request the credit agreement yourself from your creditor/DCA (£1 fee) and if you scan it on to here (removing your personal info) there are people who can tell you if its legally enforceable or not.

And just in case you are still not sure.....
http://news.bbc.co.uk/1/hi/business/8086282.stm

shayshay

Nice one, cheers Tixy

gettingbetter

hi

CCA request letter


Dear Sir/Madam

Re:− Account/Reference Number: XXXXXXXXX

With reference to the above agreement, I would be grateful if you would send me a copy of this credit agreement.

I understand that under the Consumer Credit Act 1974 (Sections 77−79), I am entitled to receive a copy of our credit agreement on request.

I enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act.

I understand a copy of my credit agreement should be supplied within 12 working days.

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

I look forward to hearing from you.

Yours faithfully

PRINT ONLY - DON'T SIGN



please dont sign your name as some folks on here have had there signatures copied
these people can go to any lengths

kas xx

tilley1972

can i ask two questions:

If I write letters asking for the CCA will someone check the agreements on here and who do i scan them too.

and

If a debt is written off because of an unenforceable agreement does it affect your credit rating?

Tilley

gettingbetter

hi tilley

yes if you scan a copy on here someone will take a look at it for you

the debt isnt written off
it is just unenforceable through the courts

it might become statute barred
if there has been no acknowledgement by either pqarty for 6 years

kas xx

gargrave50

Hi Tilley,

Just to clarify if the agreement doesn't stand up, the debt is not written off. It simply becomes unenforceable meaning no-one can chase you for payment. The idea is that if they have an unenforceable agreement, they have no right to register a default on your credit file

Also, if you post on CCA updates thread you will get plenty of advice re: your CCA. You need to scan them onto photobucket, it will give you a link to post so that we can view it .

tilley1972

Thanks for that

Do I start by writing a letter to the creditors asking for the CCA. I haven't missed a payment with them, or ever been late with a payment but am not clearing the debt, I took it out before 2007, with an online bank and I cannot find the original credit agreement.

Is it worth going down this line or as I have been reading on this site, maybe setting a target of paying an extra bit off a month and trying to clear it this way.

I have 3 CC (total 15000) and a store card (3000). All taken out pre 2007.

I am unsure.

Tilley

gettingbetter

hi

here is the cca request letter
remember dont sign it

Dear Sir/Madam

Re:− Account/Reference Number: XXXXXXXXX

With reference to the above agreement, I would be grateful if you would send me a copy of this credit agreement.

I understand that under the Consumer Credit Act 1974 (Sections 77−79), I am entitled to receive a copy of our credit agreement on request.

I enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act.

I understand a copy of my credit agreement should be supplied within 12 working days.

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

I look forward to hearing from you.

Yours faithfully

gettingbetter

if you dont get a true copy of the CCA send this to them again dont sign just print your name



FORMAL NOTICE - ACCOUNT IN DISPUTE.

Date:

Ref:

Dear Sir/Madam

Thank you for your letter of xx/xx/xx, the contents of which have been noted.

You have failed to respond to my legal request to supply me a true copy of the original Consumer Credit Agreement for the above account.

On **DATE** I made a formal request for a true signed agreement for the alleged account under consumer credit Act 1974 s77/8. This was signed for as delivered on the **DATE**

You have failed to comply with my request, and as such the account entered default on **DATE**.

The document that you are obliged to send me is a true copy of the executed agreement that contained all of the prescribed terms, all other required terms and statutory notices and was signed by both your company and myself as defined in section 61(1) of CCA 74 and subsequent Statutory Instruments. If the executed agreement contained any reference to any other document, you are also obliged to send me a copy of that document. In addition a full statement of this account should have been sent to me detailing all debits and credits to the account.

As an agent acting on behalf of the original creditor you are obliged to obtain and supply these documents.

Furthermore, you are aware that the Consumer Credit Act allows 12 working days for a request for a true copy of a credit agreement to be carried out before you/your client enters into a default situation.

This limit has expired.

As you are no doubt aware sections 77/78 state:

If the creditor fails to comply with Subsection (1)

(a) He is not entitled , while the default continues, to enforce the agreement.

Therefore this account has become unenforceable at law.

As you have failed to comply with a lawful request for a true copy of the said agreement and other relevant documents mentioned in it, failed to send a full statement of the account and failed to provide any of the documentation requested.

You will also be aware of the CPUTR 2008 and the OFT's guidelines on debt collection which state under the title Deceptive and/or unfair methods - Examples of unfair practices are as follows - 2.8

(i) - 'Failing to investigate and/or provide details as appropriate, when a debt is queried or disputed, possibly resulting in debtors being wrongly pursued'

(k) - 'Not ceasing collection activity whilst investigating a reasonable queried or disputed debt'

Consequentially any legal action you pursue will be averred as both UNLAWFUL and VEXATIOUS.

Furthermore I shall counterclaim that any such action constitutes unlawful harassment.

Furthermore you should be aware that a creditor is not permitted to take ANY Action against an account whilst it remains in dispute.

I reserve the right to report your actions to any such regulatory authorities as I see fit.

You have 14 days from receiving this letter to contact me with your intentions to resolve this matter which is now a formal complaint.

I would appreciate your due diligence in this matter.

I look forward to hearing from you in writing.

Yours faithfully

gargrave50

tilley1972 wrote: »

Thanks for that

Do I start by writing a letter to the creditors asking for the CCA. I haven't missed a payment with them, or ever been late with a payment but am not clearing the debt, I took it out before 2007, with an online bank and I cannot find the original credit agreement.

Is it worth going down this line or as I have been reading on this site, maybe setting a target of paying an extra bit off a month and trying to clear it this way.

I have 3 CC (total 15000) and a store card (3000). All taken out pre 2007.

I am unsure.

Tilley

Hi Tilley,

I think first of all it wouldn't do any harm to CCA request them. That way if any of your agreements are unenforceable you stand in a better position to make an arrangement to repay the debts. For those who provide an enforceable CCA you should try to pay a little extra each month. Ideally paying off the highest APR one first, but use the snowball calculator to keep you right.


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