Does This Void My Credit Agreement?

linziii_looo

I had a letter in the post yesterday to say that Santander were no longer the card provider for my halfords account. I bought a bike on this 6 months ago and have just started paying it back.

It says the card can no longer be used and once the balance has been paid back they will close my account. It says I must still make the minimum payments at least every month.

Are they allowed to do this? And is there anyway of not paying the money back?

All answers welcome.

Thanks

_Andy_

Yes

and


No

PROLIANT

linziii_looo wrote: »

I had a letter in the post yesterday to say that Santander were no longer the card provider for my halfords account. I bought a bike on this 6 months ago and have just started paying it back.

It says the card can no longer be used and once the balance has been paid back they will close my account. It says I must still make the minimum payments at least every month.

Are they allowed to do this? And is there anyway of not paying the money back?

All answers welcome.

Thanks

Why do you think you do not have to pay it back?

opinions4u

Yes.

Yes it does.

Pay them nothing from now on.

linziii_looo

..I thought this was a forum for asking for advice, not posting a question to get a load of abuse back.

How patronising, I'm guessing the reason behind this forum is for people like me to ask questions to people who may know a bit more about these things.

So you writing a load of abuse back does not help in the slightest.

Thanks for nothing!

dmg24

linziii_looo wrote: »

..I thought this was a forum for asking for advice, not posting a question to get a load of abuse back.

How patronising, I'm guessing the reason behind this forum is for people like me to ask questions to people who may know a bit more about these things.

So you writing a load of abuse back does not help in the slightest.

Thanks for nothing!

You have been given accurate advice, but you have refrained from answering the pertinent question - why do you think you should not pay the money back?

CannyJock

linziii_looo wrote: »

..I thought this was a forum for asking for advice, not posting a question to get a load of abuse back.

How patronising, I'm guessing the reason behind this forum is for people like me to ask questions to people who may know a bit more about these things.

So you writing a load of abuse back does not help in the slightest.

Thanks for nothing!

Card providers reserve the right to "close" your account at any time. It doesn't cancel your credit agreement, they're just refusing to provide any "further credit". You're still responsible for paying your card and they will still report to the credit reference agencies each month until the balance is paid in full. There is no way of avoiding paying the money back and any attempt to do so will damage your credit rating and lead to possible legal action being taken against you.

nickmack

As CannyJock says there don't appear to be any grounds for voiding the Credit Agreement.

Although your question may be sincere, I'm guessing the reason why some of the replies could be considered sarcastic or patronising is it may be interpreted from your last paragraph that you are clutching at straws to avoid repaying. There are frequently posts asking how to avoid repaying genuine debts, so it's possible your question has been taken as such.

If you are experiencing financial difficulty, you may want to visit the Debt Free Wannabe board when information and support is available.

izools

They have legitemately sold your business to another regulated creditor as prescribed by the terms you entered into when opening the account.

As such, the debt stands, and they are carrying out actions you agreed with when you signed the agreement (be it in writing, vocally, or digitally).

I've yet to come accross a creditor that doesn't have a clause like this in their agreement (this is Vanquis, just as an example:)

You cannot transfer this agreement or your rights or obligations under this agreement. We may transfer this agreement or any of our rights or responsibilities to any company or person who is licensed under the Consumer Credit Act 1974 e.g., if our business was sold to a third party.

_Andy_

linziii_looo wrote: »

..I thought this was a forum for asking for advice, not posting a question to get a load of abuse back.

How patronising, I'm guessing the reason behind this forum is for people like me to ask questions to people who may know a bit more about these things.

So you writing a load of abuse back does not help in the slightest.

Thanks for nothing!

Where exactly has there been 'abuse'? I find that quite slanderous.
My post answered your question, the one after that asked you a question.
There was/is no abuse.

izools

Stop abusing linziii_loo. Can't you see, she's upset?

I tell you what, if you answered my question in such a quick and concise manner I'd be distraught and have to arrange some councelling sessions...