Credit Card Co. sent me an illegible application form (CCA)

never-in-doubt

JLHE wrote: »

Now I've had a letter from their in-house solicitors, saying that if I don't pay up or make reasonable offers within 7 days, they are likely to instruct court proceedings. What next?

They sent an illegible agreement right? If so then you simply respond and tell them any court action will be defended and you will seek strike-out at the point of contact due to the fact they are in default of your CCA Request in line with s.78 of the Consumer Credit Act 1974. Remind them no action can be taken against a disputed account and any legal action they attempt will result in an application for your costs being you've warned them in advance that they have no legal right to pursue legal action.

You would simply respond to the court that sends any papers requesting strike-out on the basis the OC cannot take action anyway. Simples.

andys15

never-in-doubt wrote: »

Oh be quiet you fool.

It is not a loophole, it is the law! In fact s.78 of the CCA is very much a right of the consumer - so get your facts straight before spouting your rubbish and opinionated junk onto these threads.

If you have an issue then start your own thread - there's a good boy. :T

Well no need to call me a fool. I am not a fool. I just read a lot of heartbreaking stories on here and the lengths people go to, to do the right thing and repay what they have borrowed. Regardless of s.78 and any other law you quote, I think it lacks morals. The original poster of this was or is a student. I dont know how he got into debt, but what message is this sending out to any youngster who gets into debt and wriggles out of it. Spend what you like, dont repay. It the kind of message that is ruining the society of this once great island, that I have personally been to war for. Do what you want and sod the consequences, some other mug will pay.

never-in-doubt

andys15 wrote: »

Well no need to call me a fool. I am not a fool.

Opinions vary :rolleyes:

andys15 wrote: »

I just read a lot of heartbreaking stories on here and the lengths people go to, to do the right thing and repay what they have borrowed.

I too read heartbreaking stories, what about for instance a lender giving a retired man a loan and then from the £1000 original debt it became £70k of debt and they tried to take his house? What if that was your dad or grandparent? Now you'll see why s.78 applies and is an act that protects the consumer by placing the onus on a lender to supply a copy of the original agreement.

If they cannot find it then the borrower legally does not have to repay as there is, in essence, no proof of the debt!

andys15 wrote: »

Regardless of s.78 and any other law you quote, I think it lacks morals.

Morals do not win in court - law does.

andys15 wrote: »

The original poster of this was or is a student. I dont know how he got into debt, but what message is this sending out to any youngster who gets into debt and wriggles out of it.

I'm telling them the law. I send no messages, simply state the law.

andys15 wrote: »

Spend what you like, dont repay. It the kind of message that is ruining the society of this once great island, that I have personally been to war for. Do what you want and sod the consequences, some other mug will pay.

I too have been to war, 3 times in fact and your point here is?

The debt accrued from unenforceability has no bearing on the UK or the rate you pay for any card/loan you take out. It is deducted, like all business losses, from the companies P&L. It does not cost you a penny.

Now, I reiterate - learn the facts before spouting morals to me - morals mean nothing. For instance, I believe a rapist should have his nuts cut off - does that make me morally right or wrong?

Have a think about why I stated that example - for instance, I am neither right nor wrong - it depends on the audience as to whether I am indeed right or wrong, the same applies to unenforceability.

MrsTinks

Actually I'd have to disagree... because if the forecasted P&L isn't up to where it should be guess where the difference will be sought? All businesses have to show a profit (how much a bank should show is very open to debate btw ) but if the P&L isn't balancing and the P isn't a high enough % then they will look at other avenues within the company to meet this - if that means increasing cost through say higher interest rates then they will have no compunctions doing this...

JLHE

Thanks as usual, NID!! :beer:

never-in-doubt

MrsTine wrote: »

Actually I'd have to disagree... because if the forecasted P&L isn't up to where it should be guess where the difference will be sought? All businesses have to show a profit (how much a bank should show is very open to debate btw ) but if the P&L isn't balancing and the P isn't a high enough % then they will look at other avenues within the company to meet this - if that means increasing cost through say higher interest rates then they will have no compunctions doing this...

Granted, but we both know their P is more than ample to satisfy shareholders ;)

However, the bottom line is that if a lender puts up a rate then you leave if you're not happy, they have to allow you the chance to stick to the existing apr and repay the debt at the existing rate so long as you close the account.

What's the problem there? If i'm not happy with my lender, i'll go elsewhere! lol

JLHE

oh yeah, are there any templates for this kind of letter out there?.....

never-in-doubt

JLHE wrote: »

oh yeah, are there any templates for this kind of letter out there?.....

You really need to do a manual one - leave it with me and i'll do it for you later and post later tonight ok? Just confirm the lender and DCA to me. cheers.

MrsTinks

never-in-doubt wrote: »

Granted, but we both know their P is more than ample to satisfy shareholders ;)

However, the bottom line is that if a lender puts up a rate then you leave if you're not happy, they have to allow you the chance to stick to the existing apr and repay the debt at the existing rate so long as you close the account.

What's the problem there? If i'm not happy with my lender, i'll go elsewhere! lol

Yeah but how many people realise that they can demand to stick to the agreed apr? Sadly too many still don't realise that...
And you're assuming that the shareholders (and the bankers who we know are on commission based bonuses ) are not greedy and are happy with less than the forecasted P&L...

andys15

So what about the poor sods who get a letter informing them that their credit card interest rates are going from 19% to 35% and thats it. They are probably in a position where they cannot get another card and are therefore screwed. This is surely a way of recouping money from people who choose not to repay what is borrowed.
It morally stinks, regardless of law, and if we lose our morals then ultimately we lose our society, and quite frankly I think we already have. I am sorry as I dont like making assumption but I will. The OP has probably got into debt living the student life, drinking, going out, gadgets, gambling etc etc. Now he comes into the real world and does not want to pay it back. Basically he his having a laugh at others expense. I feel for the old man, but his injustice does not make it right for others to exploit.