CCA Requested - Received signed application form

Cheesedoodles

Hi,

I've done a CCA request for my wife's Halifax bank account. She IS actually paying them a fair sum every month buth they've handed it over to a DCA demanding full payment so we're just playing their game. If she continue to pay what she pays now it will be paid off in 3 years...but they are demanding full payment now and aren't listening to any requests for monthly payments.

Today we received a signed copy of the application form. The form is signed by her but this is the Application form....I was expecting something else. However, it does state that "I accepted overdraft is repayable on demand" and "we will search your credit file and record how you use your account"

Any advice? Or is that it now? I was expecting a whole credit agreement.

fermi

Cheesedoodles wrote: »

I was expecting a whole credit agreement.

Overdrafts are subject to an exemption.

In other words, a fully executed signed consumer credit agreement is not required, and failure to provide one is not a breach of a CCA request.

Sorry.

fermi

From the OFT....................

1.4 What is covered by the s74 determination?

A determination under s74(3) was made by the OFT with effect from 1 February 1990. It applies to d-c agreements enabling the debtor to overdraw on a current account, under which the creditor is a ‘bank’ as defined in the Bankers’ Books Evidence Act 1879, provided that certain conditions are satisfied – see Q1.5.

A separate determination was made in respect of certain agreements connected with the death of a person.

Copies of the determinations may be obtained from the OFT.

Agreements covered by a s74(3) determination, and satisfying the relevant conditions, are exempt from most Part V rules including s61(1) on execution. However, the Agreements Regulations will apply to any document embodying such an agreement, and to any term expressed in writing – see Q1.2.

1.5 Are all bank overdrafts exempt?

The s74 determination in respect of bank overdrafts (see Q1.4) applies subject to the following conditions:

• the creditor must inform the OFT in writing of his general intention to enter into such agreements;
• the debtor must be informed, at or before the time an agreement is concluded, of the following:

o the credit limit (if any)
o the annual rate of interest and any charges applicable, and the conditions under which these may be varied
o the procedure for terminating the agreement;

• the above information must be confirmed in writing.

Furthermore, where a debtor overdraws a current account with the tacit agreement of the creditor, and the account remains overdrawn for more than three months, the creditor must inform the debtor in writing not later than seven days after the end of that period of the annual rate of interest and any charges applicable.

Cheesedoodles

Thanks for your prompt reply.

So that's it for her then

I have proposed a partial settlement figure with them but they even refuse to comment on that. I said I would pay 50% of the total sum from my savings. My wife hasn't got two pennies to rub together, but I could technically pay all of it but they have been so difficult and obnoxious that I don't want to feel they've "won". All they want is the full balance. Nothing else. She's paying what she can afford each month so they won't get any more even by going to a judge.

If anyone is interested, the DCA is the infamous Fairfax 'Solicitors'.

Oh well.