debt Recovery Agencies

markeymark

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.

does this also include store cards/overdraft/student loans? if so do you just write to the company/debt agency asking for your credit agreement? Not for me, my g/f has kinda buried her head in the sand with some store/credit cards

DarkConvict

Applies to Loans, Credit Cards, Store Cards

Does not apply to overdrafts, student loans, (hire purchase not sure)

Student loans if are post 1998 aren't even wiped by bankruptcy.

putty71

DarkConvict wrote: »

Applies to Loans, Credit Cards, Store Cards

Does not apply to overdrafts, student loans, (hire purchase not sure)

Student loans if are post 1998 aren't even wiped by bankruptcy.

Dark

Do you mind me asking if you have been sucessful with what we have been talking about?

markeymark

DarkConvict wrote: »

Applies to Loans, Credit Cards, Store Cards

Does not apply to overdrafts, student loans, (hire purchase not sure)

Student loans if are post 1998 aren't even wiped by bankruptcy.

ok many thanks is there a sample letter she can send to obtain the credit agreements? and if she finds out they are unenforceable what action does she take, also is it only enforceable if she has signed it

timmmers

Just have to add something here ...don't SIGN any letters to them..print your name.
It's apparently not unknown for them to use that to make up what they can't find.

Template letters can be found here : http://forums.moneysavingexpert.com/showthread.html?t=2078599

also

http://forums.moneysavingexpert.com/showthread.html?t=963087

t

raven_r

I have just got a letter from cabot who have just taken over a capital one card debt - I requested CCA from them and they have written as follows:
'thank you for your request for information under the consumer credit act 1974. cabot financial does not have this information on file. however we have requested the relevant informationunder section 77 and/or section 78 of the consumer credit act 1974 from the original lender.

please be advised, we do not accept the statutory fee required under section 77 and/or 78 of the consumer credit act 1974 and we have returned the fee for £1.00 that you have sent.

we anticipate that we will be able to provide this information within 12 days. in the event that we are unlikely to obtain this information within those time limits, we will write to you again'

My question is: By not accepting the fee are they trying to 'stop the clock ticking' on the request to give themselves more time to find the agreement? If so - will this tactic work? Has anyone else been subject to this sort of response?

All comments/advice gratefully recieved...

timmmers

I'm betting that they bought the debt? Then it should have come with the full paperwork, so they have the same time limit as normal to comply?

Looks good to my amateur eye. Better than a signed series of legal agreements anyway eh?

How long has it been since you asked them for this ? Someone will ask who know better than I do I bet.

t

raven_r

their letter was dated 10nov - and the request was posted to them around 1st - but with the postal strikes I guess we shd count from 10 nov really!

James3891

Just to save starting a new thread and also ties in with what the OP is doing i just wondered if you could clear something up for me.

Have paid off with fairly low offers cards my mother had that had the paperwork so thats ok can accept that.

However theres a Vanquis card debt of 500 thats remaining, now about 4 months ago my mother sent a CCA request to the company pushing for it and we've still not heard anything back , it got forgotten about in all honesty but now a new one has the debt so does that void the original CCA to the other company?.

We didn't send any follow up letters to the other one but i was told they are in breach anyway by not replying so its unenforceable.

If needs be can CCA the new one but i told my mother the debt won't go away and as its a smallish debt she is happy to get it paid off officially as she doesn't want calls and letters even if unenforceable.

The debt is about 3 years old and no payments made or acknowledgement so assuming she could wait til its statute barred to stop any chasing.

What i wanted to know aswell was if she wants to pay it off if they have failed a CCA request can she just offer a low amount and they'd take it as they cant through a court?

Wasnt sure if it was the done thing to use a CCA to get a lower settlement figure so it doesn't rumble on even though unenforceable, would appreciate some advice really.

timmmers

James3891 wrote: »

Just to save starting a new thread and also ties in with what the OP is doing i just wondered if you could clear something up for me.

Have paid off with fairly low offers cards my mother had that had the paperwork so thats ok can accept that.

However theres a Vanquis card debt of 500 thats remaining, now about 4 months ago my mother sent a CCA request to the company pushing for it and we've still not heard anything back , it got forgotten about in all honesty but now a new one has the debt so does that void the original CCA to the other company?.

We didn't send any follow up letters to the other one but i was told they are in breach anyway by not replying so its unenforceable.

If needs be can CCA the new one but i told my mother the debt won't go away and as its a smallish debt she is happy to get it paid off officially as she doesn't want calls and letters even if unenforceable.

The debt is about 3 years old and no payments made or acknowledgement so assuming she could wait til its statute barred to stop any chasing.

What i wanted to know aswell was if she wants to pay it off if they have failed a CCA request can she just offer a low amount and they'd take it as they cant through a court?

Wasnt sure if it was the done thing to use a CCA to get a lower settlement figure so it doesn't rumble on even though unenforceable, would appreciate some advice really.

I was under the impression that anything in dispute couldn't be sold ? So if they don't comply..they can't just sell it on to someone else?

t