Lowell/Lloyds help

matttye

sourcrates wrote: »

The court cannot make an enfocement order in respect of a pre-6th April 2007 credit card agreement unless a document containing all the prescribed terms was signed by the debtor (section 127(3) CCA 1974).

The Regulations provide that the agreement must contain a prescribed term relating to the credit limit which must state:-

1. the credit limit; or

2. the manner in which the credit limit will be determined; or

3. that there is no credit limit.

None of the credit card agreements I have seen state the credit limit or that there is no credit limit and they all say that the credit limit will be determined by the creditor and notified to the debtor.

It is clear from paragraph 8 of Schedule 1 to the Agreements Regulations that the statement that the credit limit will be determined by the creditor is not within the requirement for a statement of the manner in which the credit limit will be determined.

The agreement, therefore, does not contain the prescribed term relating to the credit limit and so does not contain all the prescribed terms. As the agreement does not contain all the prescribed terms, the court is prevented from enforcing it by section 127(3) CCA 1974.


For your document to be legal, it must state the credit limit, and ALL of the prescribed terms MUST be on the same document and SIGNED by the debtor, this is clearly not the case so , in my humble opinion, your agreement would be unenforceable in court !!

There's an argument to be made that attached terms of business are an extension of the same document, especially if the signed agreement has a box saying that you agree to the terms.

That said, the terms should probably have a signature on each page.

I'm referring only to your last paragraph; can't argue with the rest of your post.

sourcrates

matttye wrote: »

There's an argument to be made that attached terms of business are an extension of the same document, especially if the signed agreement has a box saying that you agree to the terms.

That said, the terms should probably have a signature on each page.

I'm referring only to your last paragraph; can't argue with the rest of your post.

Like I said only a court can decide on these things but in the OP`s position I would challenge Lowell on that basis as the only way Lowell could enforce it would be to go to the expense of taking the matter to court, and as they deal with thousands of cases like this it just would not be economically viable for them to do so, so would most likely just write the debt off and close the account, they want a quick return and just cant be bothered with long drawn out court cases for little or no return.

mandymad

Hi, I've been reading this with interest to my own circumstances. I had been with LLoydsTSB from 1997, current account and a credit card. When I went back to University in Sept 2010, I was told that I should just keep the same account and not change to a student account. I was given a £1000 overdraft to help too. In 2011, they pull the plug on my overdraft, even though everything had been running correctly, and passed me onto what is now STEP CHANGE. As my income since leaving Uni is very low, these debts have now been passed onto Moorcroft (lovely people....hmmm) I now pay them £1 per month, debts are £2500 credit card, £1400 current account. Can I ask for the CCA as you've stated, as my account etc was taken out prior to 2007? If they can't show me the original, can I be pursued? My two catalogue accounts, both earlier than 2007, also had to be dealt with through STEP CHANGE, and are now with NDR, can the same be done with them? I pay them £5 each.
Sorry to be long winded, but am hoping that something can be done as I can't see an end to my debts.

Chewbert

Update......................

Ok, so I sent the letter that was advised and they've responded with the following.

We thank you for your recent letter.
Your comments have been noted and we would advise that we are now looking into your enquiry and will be in touch shortly with an answer.

We can't give you an exact date, as we may have to get information from other departments and outside companies but we will get back to you as soon as we can.
Please be advised that a hold has been placed on the account until we are able to fully respond to your query.