Metroplitan unable to provide copy CA

Bubbles12

I have a defaulted bank account and defaulted loan totalling £12k outstanding with Metroplitan (passed from HSBC)

I was recently thinking about having a go at reclaiming the ppi on the loan and asked metropolitan for a copy of my credit agreement

They sent me a couple of holding letters & a finds letter saying they are unable to provide me with this. They stated they know they can not take me to court but I have a duty to continue with my repayments to them for £50 a month

My question is if they don't have the credit agreement can I get the defaults removed? They have issued me with 2 one for the bank account and one for the loan both in 2010

Is there anything else I should do or just carry on paying the £50 a month until it is paid off - I know this will take years but will I be under no obligation to increase my payments especially if I can't get the defaults removed & they drop off my file after the 6 years

I am still going to write & see if I can reclaim the ppi too I'm sure ivevtead you don't have to have the credit agreement but I can check this on the ppi forum

Thanks for any useful advice much appreciated

MaxineM

Hi Bubbles,

I worked for finance companies for 20 years, and I think you really need to seek advice from the CAB or someone similar.

You may have a moral duty to repay the debt, but not a legal one.

If you stopped making payments, as they have said, they cannot enforce the debt.

If it were me, I think I would be contacting them to negotiate some favourable terms.

Again, if it were me, I would be offering to pay the capital sum, but no interest, on the condition that any details lodged on your credit file were removed.

However, this is only my personal opinion. Good luck.

Bubbles12 wrote: »

I have a defaulted bank account and defaulted loan totalling £12k outstanding with Metroplitan (passed from HSBC)

I was recently thinking about having a go at reclaiming the ppi on the loan and asked metropolitan for a copy of my credit agreement

They sent me a couple of holding letters & a finds letter saying they are unable to provide me with this. They stated they know they can not take me to court but I have a duty to continue with my repayments to them for £50 a month

My question is if they don't have the credit agreement can I get the defaults removed? They have issued me with 2 one for the bank account and one for the loan both in 2010

Is there anything else I should do or just carry on paying the £50 a month until it is paid off - I know this will take years but will I be under no obligation to increase my payments especially if I can't get the defaults removed & they drop off my file after the 6 years

I am still going to write & see if I can reclaim the ppi too I'm sure ivevtead you don't have to have the credit agreement but I can check this on the ppi forum

Thanks for any useful advice much appreciated

chanz4

MaxineM wrote: »

Hi Bubbles,

I worked for finance companies for 20 years, and I think you really need to seek advice from the CAB or someone similar.

You may have a moral duty to repay the debt, but not a legal one.

If you stopped making payments, as they have said, they cannot enforce the debt.

If it were me, I think I would be contacting them to negotiate some favourable terms.

Again, if it were me, I would be offering to pay the capital sum, but no interest, on the condition that any details lodged on your credit file were removed.

However, this is only my personal opinion. Good luck.

they aint going to go for the removal of bad data

fermi

Bubbles12 wrote: »

My question is if they don't have the credit agreement can I get the defaults removed? They have issued me with 2 one for the bank account and one for the loan both in 2010

Not usually, no.

Case law (se McGuffick vs RBS) says that they can default you despite not being able to comply with a CCA request.

fatbelly

Bubbles12 wrote: »

They sent me a couple of holding letters & a finds letter saying they are unable to provide me with this. They stated they know they can not take me to court...

Keep that letter safe. You might need it somewhere down the line.

I don't know if you have other debts. I've come across this situation when we have got catalogue companies to agree that there was no signed agreement and it was a pre-2007 account.

What I would do then is to send a polite letter explaining that there was a mixture of enforceable and non-enforceable debts and that they would surely understand if we concentrated on the enforceable ones until they are cleared. Usually for my clients this itself would take many years.

Then ignore & bin any further letters (actually some of the catalogue companies weren't too bad on this). In the remote chance of a court claim there was a document to defend it with.

DevCoder

They can take it all the way up to the point of court, this means issuing defaults et cetera.

They also don't need to inform the CRA's when they are adding this to your credit files that the CA is unobtainable.

At some point they will just reconstitute the missing parts of the CA (which doesnt need to be the original CA you signed, but just the relevant parts and any/all changes since). At which point they can the proceed to CCJ.

The chances of getting defaults removed is nil to minus...

They are advising you to keep up debt repayments (you do acknowledge you owe the debt? if so then you should be looking to repay it) else they will add entries to your CRA file that will mean you wont get main lender credit for at least 6 years (12 if secured).

Normally don't like to be harsh with the truth but this is what you are up against.

kitkat34

krisdorey wrote: »

They can take it all the way up to the point of court, this means issuing defaults et cetera.

They also don't need to inform the CRA's when they are adding this to your credit files that the CA is unobtainable.

At some point they will just reconstitute the missing parts of the CA (which doesnt need to be the original CA you signed, but just the relevant parts and any/all changes since). At which point they can the proceed to CCJ.

The chances of getting defaults removed is nil to minus...

They are advising you to keep up debt repayments (you do acknowledge you owe the debt? if so then you should be looking to repay it) else they will add entries to your CRA file that will mean you wont get main lender credit for at least 6 years (12 if secured).

Normally don't like to be harsh with the truth but this is what you are up against.

Don't think your correct about the recon CA and being able to go for ccj
I would hope someone more knowledgable would come along and clarify that

Lensman_2

kitkat34 wrote: »

Don't think your correct about the recon CA and being able to go for ccj
I would hope someone more knowledgable would come along and clarify that

The need for the original agreement to be present at court to enforce debts came from the CCA 1974. S.127.

S.127 was repealed by the CCA 2006 and this came in to force on 6th April 2007.

So for agreements started before 6th April 2007, the original is required. Thereafter a reconstituted agreement is sufficient, however it must still be compliant with the Act.

The above relies on you spotting a court claim and defending. Judgement by default will be obtained regardless if a claim is not acknowledged and defended.

Very often such debts go around the DCAs with just an account number, name and contact details. A claim from one is quite possible of you do not inform each one that the debt is unenforceable.

So by all means bin the letters - but open, read and understand every one before you do bin them.