If You have a British Credit Trust Account Read This!!!!!!!!!!!!!!

Targetloans

well i have a payment plan in place and yes my credit rating is knackered, i just want those charges refunded back to the account due to their error, im not telling anyone not to pay or stick to any arrangements just to get those charges in the non compliant period reversed

jonesMUFCforever

Targetloans wrote: »

well i have a payment plan in place and yes my credit rating is knackered, i just want those charges refunded back to the account due to their error, im not telling anyone not to pay or stick to any arrangements just to get those charges in the non compliant period reversed

It's starting to come out now isn't it?

Common_Sense_2

i'm confused - are you (OP) staing that you didn't get an arrears letter, or Notice of Default, or a Notice of sums in arrears?

Notice of Default can be sent (off the top of my jet lagged head) any time the creditor deems you to be in default of the terms and conditions of the loan (generally 2 or 3 payments missed)

Notice of sums in arrears must be sent if you are more than 2 payments in arrears for a period of 6 months (and then every 6 months thereafter while you continue to be in arrears).

Arrears letters aren't (i think) noted in the act at all.

Targetloans

commensense2, have a read of the consumer credit act sections 9 and 10, its all in there, i recieved no letters.however even if i had recieved a default notice its the fact that the arrears letters were not sent which makes the interest and charges between the two dates non enforcable, so i would like them removed

Apples2

Who cares what default charges have been applied? It's not as if you are going to pay them anyway, you aren't even paying the capital payments, let alone the interest and fees.

Common_Sense_2

Targetloans wrote: »

commensense2, have a read of the consumer credit act sections 9 and 10, its all in there, i recieved no letters.however even if i had recieved a default notice its the fact that the arrears letters were not sent which makes the interest and charges between the two dates non enforcable, so i would like them removed

Sections 9 and 10 of the Consumer Credit Act 1974 :

9 Meaning of credit
10 - Running-Account credit and Fixed-sum Credit

So I am unsure why your are telling me to read those sections!

As I said before, there is nothing in the act that is called an "Arrears letter" so please explain what you actually mean by that term. Do you mean:

a) A Statutory Notice of Default (NOD)
b) A Notice of Sums in Arrears (NOSIA)
c) A Default Sums Notice (DSN)
d) or just a letter telling you that you have missed a payment?

Please let us know!

Targetloans

commonsense2, you need to be looking at the amendments made in 2006,http://www.legislation.gov.uk/ukpga/2006/14/contents,Section 11 is the specifics. apologies if i didnt make this clear in the beginning

Common_Sense_2

Targetloans wrote: »

commonsense2, you need to be looking at the amendments made in 2006,http://www.legislation.gov.uk/ukpga/2006/14/contents,Section 11 is the specifics. apologies if i didnt make this clear in the beginning

Right, now i understand, you are talking about a 'Notice of Sums in Arrears' (known in some circles as a NOSIA). - which i mentioned in my posts on14-06-2011 10:24 AM and 15-06-2011 10:10 AM

my post on 14-06 incorrectly said it had to be sent out if you are more than 2 payments behind for 6 months - this is wrong (i had just flown back into the country so was a tad jetlagged!)

NOSIA's (as stated in the CCA 2006) states that these must be sent out within 14 days of your falling 2 payments behind.

The OP is correct that the creditor cannot levy interest or default sums on the agreement until they send this out.

What is difficult to prove here though is that when then letters were sent - if they are dated back last november (and the OP claims that they were only received recently) it would be difficult to prove that the letters were in fact backdated and sent more recently.

although, at the end of the day, the OP (and others in his/her situation) is behind in repayments to the finance company and therefore they should pay up.

Targetloans

well i requested all the information they hold on me, plus notes from my account etc, and this morning i have proof that the letter was sent on 27th May, not the 20th November as the letter says. So my advice would be request all your info via a SAR ( fee applies) and check your records.Also think i am in a real good position to get that £1000 wiped off my account

jonesMUFCforever

I maybe in a minority but I will disagree with you.