Is this correct?

westiedog

I write in relation to your request for a copy of your original Credit Agreement.

I have taken advice on this request and it appears that the is no obligation on us to produce a copy of the actual agreement executed by you.

section 77 of the consumer Credit Act imposed an obligation to supply a "copy of the executed agreement". Section 180 of the Act provides for the making of regulations governing the form and content of copy of agreements and, persuant to that section, the Consumer Credit (Cancellation Notices and Copies of Documents) Regulations were introduced in 1983.

Regulation 3 (2) expressly provides that an exact copy of the agreement signed in that we are permitted to exclude from the copy:-

(a) any details furnished by the customer (for example' any information required to underwrite the case and included in the agreement);

(b) any signature boxes, signature or date of signature; and

(c) In certain cases, the customer's name and address

In short, we have to provide a true copy of the financial particulars included in the agreement but not tha actual agreement signed by you.

In this respect, please find detailed below the financial particulars relating to the loan.

Amount of Loan: £*******
Monthly Repayment: £*******
Rate of Interest per annum (variable) **.**%
Annual Percentage Rate of charge (variable) **.*%
Numer of Monthly Repayments (variable) ***

fermi

When did you first take out the card or loan?

Before 1985 or after? If before 1985, they are correct. If after, then they are at least in part talking twaddle.

westiedog

Thanks for the quick reply. It was after 1985.

fermi

If that is all they have supplied, then no that is good enough. If they claim it is then they are telling porky pies.

See: http://www.oft.gov.uk/about-the-oft/legal-powers/legal/cca/unenforceable-credit-agreements

and http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/OFT1272.pdf

However, the reconstituted copy must be a 'true copy' of the executed agreement. It must therefore contain any terms and conditions which were contained in the original, together with all the prescribed information and statements of protection and remedies required by the Consumer Credit (Agreements) Regulations 1983 that were set out in the executed agreement. The creditor or owner must ensure that it gives the terms and conditions applicable at the time the contract was executed. It was held in Carey v HSBC Bank plc9 that, subject to spelling mistakes and similar discrepancies (described as 'low level omissions'), only those matters listed in regulation 3(2) of the Copies of Documents Regulations could be omitted. The name and address at the time of execution must therefore be included, although, as Carey explains, that can be taken from any source available to the creditor or owner.

Where the agreement was executed before 19 May 1985 and due to an accident or some other reason beyond its control, the creditor or owner does not have in its possession the executed agreement or any copy of it, the copy to be given may comprise an easily legible statement of the current terms of the agreement insofar as they are known to the creditor or owner.

fermi

Can I also just ask why you are making the request?

If it is because you don't believe the debt is yours, then there are better way to approach that which avoid this argument.

westiedog

They also supplied a poorly photocopied credit agreement which has hand written amount of loan and interest rate etc.

The debt is definately mine but the reason I was asking as them was that original loan was being paid and then I went with Baines and Ernst due to being in financial difficulty (this was in the days that I did not know about Payplan and CCCS).

It would appear once Baines and Ernst were involved a new credit ageement was started up without my permission and ppi was added.

All my debt is mine and I intend paying all off.

westiedog

Any more advice please?