creditor failed to provide true copy of credit agreement?

~Brock~

This thread is hilarious.

The OP has confirmed that this loan was taken out over the internet and therefore no actual CCA was signed. Nothing unusual about that nowadays - credit agreements, along with most other types of contract, can be transacted electronically nowadays.

The OP has, however, hopped on the bandwagon that became popular a few years ago which was to abuse s77/s78 of the CCA 1974 by requesting a copy of the signed agreement, in the hope that the bank had lost it.

Now, we already know that in this case a signed agreement does not exist, and in any case the mcGuffick case blew a hole through the theory that it must be an original signed agreement that is provided - a reconstituted copy is fine.

For the debt avoiders, the wheels fell off the s77/s78 bandwagon some time ago. As Sparklywassername correctly states, however, there are other places on the internet that the OP can go and grumble with likeminded people about nasty lenders who have the cheek to expect to be paid.

Back on earth, however, it is quite clear that all the lender needs to do in this case is to arrange for a copy of the loan terms as agreed at the time. Not a difficult task and I suspect that any delays so far are more down to the typical crap communication that exists between departments of most big financial firms.

To stop paying over this issue is, however, ridiculous. I can only assume that the OP is happy to be blacklisted for the forseeable future.

Oh and by the way, just because i haven't given the OP a nice big cuddle doesn't mean that I am defending the lender here, I am simply stating the reality of the situation as I see it.

StuTheDon

george45 wrote: »

martin lewis can close this forum with this headline im out ofhere

George - even now, your credits score will be so poor that it is unlikely you will get mainstream credit for the next 6 years anyway. Even if it is unenforcable, that does not mean the debt did not exist. So, ultimately, I'm afraid the only person you will have caused problems to by not paying is you.

The bank will simply write off the bad debt against their tax obligations anyway.

If I were you, if you legitimately took out the loan and enjoyed the proceeds, then I would pay it back and at least have "default settled" on your credit score.

CHR15

StuTheDon wrote: »

If I were you, if you legitimately took out the loan and enjoyed the proceeds, then I would pay it back and at least have "default settled" on your credit score.

I can't see George going for that option. :cool:

jon_boy75

george45 wrote: »

i never wanted to be theated any better i just asked for advice how to move forward tackling financial problem within legal game frame. if you dont know save the words

George

They dont need to the original agreement to enforce the debt anymore. Courts are now accepting copies or templates of what would have been sent.

ILW

That is not what he wants to hear, and will probably get quite offended.

Hax

george45 wrote: »

yes but if case will get to court without the agreement, what results can be expected? seems no one knows on this thread just being judgmental on my actions ))))

They will either find the agreement or provide a reconstituted version which the court will readily accept. In such a situation, you would likely end up with a CCJ.

george45 wrote: »

man sent to jail for not paying back loan of £6k, that would be some story

And that's what would happen if you then failed to pay a CCJ.

Just pay back what you borrowed.

And the reason people are (in your eyes) so mean is because they understand that if they borrow money then they must pay it back as agreed. They also understand that they end up having to fund (through higher APRs) people like yourself who try to avoid paying back what they have borrowed.

The banks don't lose out - they make their money back from future borrowers. Future borrowers DO lose out because of the higher APRs. And, YOU lose out as your credit file will be completely trashed.

Even if the lender doesn't produce the agreement, the debt still exists and they are still entitled to record information relating to it on your credit file - they are just not allowed to chase your through the courts for repayment. Debt collectors can still write to you and call you, attempting to coerce you into paying back the money you owe.

So, no new: car HP, bank loans, credit cards or mortgages for you. Possibly not even a mobile phone contract. And many letting agents carry out credit checks these days and they may well refuse you based on your trashed credit history.

Moral of the story: Keep paying your debts even if disputing them. You will find it easier and quicker to reclaim the money than trying to get your credit record back on the straight and narrow.