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celticanuk
Posts: 5 Forumite
I've recieved my credit agreement from M&S dated 25th Jan 2007.
Credit limit: Your credit limit will be the amount determined by us from timt to time and notified to you. We may limit the amount of cash advances if we do this, we will notify you.
Repayment Schedule: Although not listed by title there is a section stating ' You must repay us, at least £5 or 3% (whichever is higher) of the balance outstanding (also referred to us as the present balance) shown on the monthly statement to be due (or the balance outstanding if less than £5), each month within 25 days of your statement date (the repayment date). We may vary the amount of your repayment by giving you at least 30 days notice under clause 8. APR 16.9% variable.
Rate of interest is present.
2 pages were provided with the key information on page 1 of 2 which includes my name and address at the top.
My signature and that of the lenders are both on page 2 of 2 which does not include the key information. This could of course be 2 photocopies (each side) of a single document but would they put page 1of2, 2of2 if that were the case?
I'm assuming that this means it's enforceable so wondering what the next step is? any help appreciated.
Credit limit: Your credit limit will be the amount determined by us from timt to time and notified to you. We may limit the amount of cash advances if we do this, we will notify you.
Repayment Schedule: Although not listed by title there is a section stating ' You must repay us, at least £5 or 3% (whichever is higher) of the balance outstanding (also referred to us as the present balance) shown on the monthly statement to be due (or the balance outstanding if less than £5), each month within 25 days of your statement date (the repayment date). We may vary the amount of your repayment by giving you at least 30 days notice under clause 8. APR 16.9% variable.
Rate of interest is present.
2 pages were provided with the key information on page 1 of 2 which includes my name and address at the top.
My signature and that of the lenders are both on page 2 of 2 which does not include the key information. This could of course be 2 photocopies (each side) of a single document but would they put page 1of2, 2of2 if that were the case?
I'm assuming that this means it's enforceable so wondering what the next step is? any help appreciated.
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Comments
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I would say the agreement sounds to be enforceable.
If it is, you need to start making payments because they can take out a CCJ against the debt.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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