debt Recovery Agencies

DarkConvict

The process of requesting a CCA is nicely laid out here - http://forums.moneysavingexpert.com/showthread.html?t=2078599

If they do not have an enforceable CCA, they cannot take you to court and get a CCJ. As such they are at the mercy of when you want to pay them, you don't have to pay them if you don't want to, but the debt does still exist.

putty71

DarkConvict wrote: »

The process of requesting a CCA is nicely laid out here - http://forums.moneysavingexpert.com/showthread.html?t=2078599

If they do not have an enforceable CCA, they cannot take you to court and get a CCA. As such they are at the mercy of when you want to pay them, you don't have to pay them if you don't want to, but the debt does still exist.

This sounds far to good to be true. I mean I have every intention of paying eventually, but surely they all would have covered this wouldn't they?

Ps whats a CCA???????

putty71

Sorry just checked and can see what a CCA is! Doh

If I follow this route, does this affect my charges reclaims and PPI reclaims?

putty71

Just checked the link and god, theres a lot to take in!!

DarkConvict

Yeah it took me ages to understand how CCAs work, adn that was before i read that guide. It kindly puts everything in perspective.

It is fairly straight forward, send the CCA Request, if they fail to respond with a valid CCA after 14 days, you send the next letter in the list, and finally after 30 days place the account in dispute. Without the CCA it cannot be enforced in court, so no CCJ, and as such no one has any powers to make you pay. it is very handy to do this as you can work on debts that do have a valid CCA or are priority debts like tax.

I have no idea how it affects reclaiming, so i would atleast reclaim first.

putty71

fermi wrote: »

To be legally enforceable through the courts, a pre April 2007 consumer credit agreement must be.......

a) Signed by you.
b) Contain certain terms prescribed by legislation. Particulary:

- A term stating the credit limit or the manner in which it will be determined or that there is no credit limit;

- A term stating the rate of any interest on the credit to be provided under the agreement and;

- A term stating how the debtor is to discharge his obligations under the agreement to make the repayments, which may be expressed by reference to a combination of any of the following--

(a)Number of repayments;
(b)Amount of repayments;
(c)Frequency and timing of repayments;
(d)Dates of repayments;
(e)The manner in which any of the above may be determined; or in any other way, and any power of the creditor to vary what is payable.

Should that not be the case, then under section 127(3) of the Consumer Credit Act 1974 any court is prohibited from making an order to enforce the debt.

Fermi

To save me a sleepless night tonight, and as I really cannot take in all the issues at the moment on unenforceability, are most CCA'a pre 2007 worthless to the card companies then? Can I really get away with paying what I want?
I assume the flip side to this is, no more credit and a mountain of debt that will still need to be shifted?

Advice from anyone who has been through this would be appreciated to save a lot of worry.

putty71

DarkConvict wrote: »

Yeah it took me ages to understand how CCAs work, adn that was before i read that guide. It kindly puts everything in perspective.

It is fairly straight forward, send the CCA Request, if they fail to respond with a valid CCA after 14 days, you send the next letter in the list, and finally after 30 days place the account in dispute. Without the CCA it cannot be enforced in court, so no CCJ, and as such no one has any powers to make you pay. it is very handy to do this as you can work on debts that do have a valid CCA or are priority debts like tax.

I have no idea how it affects reclaiming, so i would atleast reclaim first.

Thanks for that. Okay so say they send me the CCA. What kind of stuff am I looking for, for it to be unenforceable? Have you done any of this as it just seems so easy, but I'm sure there is a catch? Is there?

putty71

Can anyone else offer me any advice on this subject please?

Thanks

Putty

DarkConvict

They may well have a valid CCA so don't get your hopes it yet, it is just an avenue to investigate. From the thread above - http://forums.moneysavingexpert.com/showpost.html?p=26867833&postcount=7

This is what a CCA must contain, more detail in the link above.

A Amount of credit
A term stating the amount of credit

B Repayments
A term stating how the debtor is to discharge his obligations under the agreement to make the repayments, which may be expressed by reference to a combination of any of the following-

(a) Number of repayments;
(b) Amount of repayments;
(c) Frequency and timing of repayments;
(d) Dates of repayments;
(e) The manner in which any of the above may be determined; or in any other way, and any power of the creditor to vary what is payable.

C Rate of interest
A term stating the rate of interest to be applied to the credit issued under the agreement

D Credit limit
This may be a term or the manner in which it will be determined or that there is no credit limit.

putty71

DarkConvict wrote: »

They may well have a valid CCA so don't get your hopes it yet, it is just an avenue to investigate. From the thread above - http://forums.moneysavingexpert.com/showpost.html?p=26867833&postcount=7

This is what a CCA must contain, more detail in the link above.

Thanks for that. I assume that the CCA may be that flimsy piece of paper that they send out, but am I write in assuming it is only legally binding if I have signed a copy? If you could please explain.

It would also be good to know how others here have got on with Amex, Cap One, MBNA, Tesco and Mint over similar issues.

This is a worry and whilst I know I am not the only one, any help no matter how little would be appreciated.

Thanks

Putty