Cabot Application Form

creditcritter

have cca`d Cabot they have sent me a clearly worded application form & sheets of conditions am i correct in thinking that what clearly is an application form will not suffice , they are saying they may choose to escalate the acoount ?

fermi

Something that says "application form" can be a properly executed and enforceable agreement.

Depends entirely what is included on it and any clearly linked terms and conditions?

Also, what do you mean by suffice? An agreement supplied may be "sufficient" to discharge their obligations under a s77-79 CCA request, while possibly still not be "sufficient" to stand up in court?

PNPSUKNET

is it signed by you....

creditcritter

it is looks like my signature , it clearly states that it is an application for a credit card , no terms & conditions embodied ,supplied on A4 sheets seperatly.

king100

PLEASE NOTE DUE TO RECENT LEGAL CASES THIS BELOW IS BEING REVIEWED.. 7th January 2010

IS MY AGREEMENT ENFORCEABLE( Via section 127(3) CCA1974)
PRESCRIBED TERMS FOR THE PURPOSES OF SECTIONS 61(1)(0) AND 127(3) OF THE
CONSUMER CREDIT ACT 1974 Taken from sced.6(1983/1553) regulations
(If you just want to find out, skip the bits in between the stars it’s just some extra information)

**What do we mean by unenforceable?
In the Consumer Credit Act section 127 there is a provision for making an agreement unenforceable if it does not contain certain pieces of information.
Subsections 1,2,3,4 state which pieces of information these are, and everything mentioned there must be included within the body of the agreement, if one is missing the agreement is unenforceable.

How does unenforceable differ from enforceable with a court order only?
When an agreement is unenforceable it means that the court or the judge cannot make a ruling on it. The court cannot make it enforceable.
When an agreement is enforceable only by ruling of the court it means that the agreement can be stopped by the debtor but the court has the power to re-instate it and allow the credit to continue to enforce.**

The Pescribed Terms are these

A Amount of credit
A term stating the amount of credit

B Repayments
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.

C Rate of interest
A term stating the rate of interest to be applied to the credit issued under the agreement
D Credit limit
This may be a term or the manner in which it will be determined or that there is no credit limit.

---

Which of these applies to you depends on the type of agreement you have?

For a Running Account (credit card) agreement

BC and D Apply





For a Restricted Use Debtor Creditor Supplier

• Where the dealer is the supplier and the creditor is the one providing the finance.
• The money can only be used for the purpose it is given.
• There is no interest on the purchase (the cash price is the same as the total price)
• And there is no advance payment

A is applicable

For a fixed Sum Credit Agreement
A conventional credit agreement with none of the above restrictions

A and B apply

For a Hire Agreement

B is Applicable

This paper only covers section 127(3) of the Act agreements can also be unenforceable by contravention of sections 1 and4 this will be the subject of the next paper.
Please note that these Prescribed terms where not changed in any way by the [URL="tel:2004/1482"]2004/1482[/URL] Ammendments although the form in which they appear on the agreement was. Subsection127(3) was repealed on the 6th of April 2007 so that unenforceability due to 127(3) will only apply to agreemens executed before that date.

fermi

creditcritter wrote: »

it is looks like my signature , it clearly states that it is an application for a credit card , no terms & conditions embodied ,supplied on A4 sheets seperatly.

Something that says "Application form" CAN also be a valid credit agreement if it is signed by you and contains the prescribed terms (set out in King's post above) in the document or terms and conditions clearly linked to it.

fermi

Also, when did you take out this 'agreement'?

creditcritter

it says it is an application for credit not the type that can double as both.

creditcritter

forgot to add was taken out 2004.

thechippy

creditcritter wrote: »

it says it is an application for credit not the type that can double as both.

Sorry, but you're not listening are you?

Look at Fermi's post #6

creditcritter

chippy i am always listening what i have stated is that what they have sent me is clearly a signed application only , terms & conditions are seperate & the usual shoddy A4 photocopies.