Free Unenforceable Credit Agreement Service?

marshallka

Cemeteryjunction64 wrote: »

upferret wrote: »

you can check if they're enforcable yourself like I did. You dont need to pay anyone to do anything, just write a few letters .....QUOTE]

Thanks for that. I have looked through the letters etc and they look fine. But the question that I have is this. Suppose I identify a problem in the credit agreement and I conclude that it is unenforceable, how do I go forward? Is the bank likely to agree with my findings. If it is a matter of interpretation on what basis is my conclusion a more qualified one than the lenders? Can I refer it to the FOS and will they be able to impose a binding decision on the matter?

FOS only had jurisdiction over consumer credit complaints if the agreement was taken out after APril 2007 I think.

savagej

Cemeteryjunction64 wrote: »

One of the agreements has PPI and it wasn’t optional.

Back in February 2000, the OFT published “Discounted APRs and PPI” and stated that where PPI is not optional lenders must factor it into the Total Cost of Credit and APR. That was them reaffirming what was already known and stated under the Consumer Credit Act 1974. Surely after that there could be no room for misinterpretation of what the actual regulations were?

Well funnily enough, I took an agreement out in 2005, 26 years after the Consumer Credit Act was introduced and 5 years after the OFT clarified the position regarding APR calculations. And guess what, the PPI wasn’t optional and it wasn’t included in the APR calculations!

The only reason that banks were abusing the APR system was to disguise the extortionate amount that they were charging customers for an insurance they often didn’t want in the first place.

The fact that they have blatantly abused the system is a reflection on them not me. I intend to get even. And I will use the law to do that, not break the law as the bank has.
Anyway lifes too short, have a nice bank holiday weekend all :beer:

You really do write so well, do you have a degree in English?

You also place a perfect advert and I really like your style, why use a commerical website when you can place details on here.

You could call me cynical, however, you have already praised the free letter made out by N-I-D, which must have take a great deal of work.

Perhaps you could tell us you allegiances or any affiliation as your points are so related to your orginal post you do come across as advertising.

I look forward to hearing you reply in due course.

Cemeteryjunction64

You are so far off the mark… I run a Judo school, not sure if that counts as a conflict of interest??? And no I don’t have a degree but I do have a black belt!

quercus56

As there is a pre date of 2007 is there also a post date? All of my cards were issued in the early 90's can I still claim this far back?

I may also be vermin or a leech but I am not a loan shark, which is basically what credit card companies have now become. I have paid off what I spent on my cards, however, due to excessive interest rates, most of which now stand at 29.9% I am merely paying interest and payment protection charges.

never-in-doubt

quercus56 wrote: »

As there is a pre date of 2007 is there also a post date? All of my cards were issued in the early 90's can I still claim this far back?

I may also be vermin or a leech but I am not a loan shark, which is basically what credit card companies have now become. I have paid off what I spent on my cards, however, due to excessive interest rates, most of which now stand at 29.9% I am merely paying interest and payment protection charges.

The date is April 2007. Before this date unenforceability exists. After this date it does not. Therefore only agreements issued prior to April 2007 can be considered for unenforceability.

The way to check for this is to send the CCA request off, the lender then either returns with a copy of your agreement or fails to do so. If they fail to send it you then send the Failure to Supply CCA letter warning them of the breach and that the debt is now unenforceable. The debt remains unenforceable until they supply an agreement to you.

If however they do send an agreement in response to the CCA Request then you compare it against the prescribed terms and if anything is missing then you would send the dispute letter, also putting the account into unenforceability status.

Bottom line is that the lender has to prove to you that they have conformed with the CCA - not the other way around. It should also be noted that just because an agreement is unenforceable does not mean the debt is 'wiped'. It simply means that whilst they cannot pursue you for the debt, they can and will add a default meaning you will struggle to get credit for the next 6yrs.

All letter templates and the prescribed terms mentioned above can be found below, along with a step-by-step guide. Simply follow the guide and read the letters - this will answer any questions you may have

Link to templates is here: http://forums.moneysavingexpert.com/showthread.html?t=1868507

Worried about bailiffs? http://forums.moneysavingexpert.com/showthread.html?t=1837507

never-in-doubt

Budner wrote: »

You are vermin, a leech. Pay what you owe or don't borrow

Why don't you go back to school ignorant little boy. Unenforceability is a right whereas your opinion is just that - an opinion. Therefore keep your silly opinion to yourself whilst we continue to follow the law.

I think you will find the law will prevail over any opinion you, or anyone else for that matter, may have!

NickX

Budner wrote: »

But you have every intention of trying to weasel out of paying the lender back their hard earned cash!!!!!! You are vermin, a leech. Pay what you owe or don't borrow

Which lender do you represent ?

Referring to the lender's "hard earned cash" has made me laugh - so thanks for that :T

sharpy2010

dfh wrote: »

What a wonderful society we live in.I want to spend,spend spend and then find a LOOPHOLE so I don't have to pay.

Its disgusting isn't it? :-(

Rupert_Bear

Cemeteryjunction64 wrote: »

I would really appreciate some advice. I have a loan and a couple of credit-cards which I want to check to see if they are enforceable or not. I have no intention of paying a firm my hard-earned cash to do this. The only reason I am contemplating it is that I had spoken to a company earlier this year who offered to do it for free. I didn’t go ahead at the time because there would have been a fee to pursue the case if it went ahead and it wasn’t cheap. Anyway Torston has written back saying that their pricing has changed and that there are now no fees to pay either them or their solicitors. They will do the assessment for free and the solicitors will run the case at no cost to me if I have grounds. Apparently each case is checked by a barrister first. They also don’t deduct anything at the end of the case. It’s similar to a no-win no-fee except I don’t receive a payment at the end, so there isn’t anything to deduct from. They make money by getting legal costs from the lender and they have an insurance policy to cover them if they lose which they pay for. I can continue making payments whilst the case is running if I wish so no problem with the credit rating. The thing is I can’t see a downside to doing this. I have been assured that regardless of what happens once legal proceedings start there will be no fees to pay. Am I missing something?

I should add that I have read the Ministry of Justice/OFT warnings but these only relate to “fee-charging” companies who take money off people. And as somebody that has first-hand experience of how ruthless banks are, I don’t have any moral issues with this.

Anyway I really want to make sure that I have covered all of the angles before I go ahead.

If I were you I would try lobbying David Cameron the Conservative leader. He has already agreed to refund bank charges. He is so desperate to get into power he may agree to pay your credit debts off for you.

Worth a try!

sparkysi

Cemeteryjunction64 wrote: »

You are so far off the mark… I run a Judo school, not sure if that counts as a conflict of interest??? And no I don’t have a degree but I do have a black belt!

If you have a black belt in Judo, surely the debts are unenforceable anyway LOL

I dont think there is any issue with using the law against lenders. They are more than willing to step on you when it suits them so if they cant run there business within the law then tough luck.

Perhaps if they behaved more responsibly and within the law themselves, these trying times would not be quite so trying.