CCA's, PRA and general advice

TheDebtinator

You make a compelling argument.

Ok, say I don't do anything, keep holding all the aces etc, can I still start to rebuild my credit record? As I understood it, even with the defaults, as long as the debts were satisfied I could rebuild, but if they aren't settled they will continue to show as defaulted every month, affecting my record. Do I have that right?

I assume that if I do nothing and leave them unpaid, once they slide off my file they cannot adversely affect me, and therefore I can rebuild my record?

Thank you.

sourcrates

TheDebtinator wrote: »

You make a compelling argument.

Ok, say I don't do anything, keep holding all the aces etc, can I still start to rebuild my credit record? As I understood it, even with the defaults, as long as the debts were satisfied I could rebuild, but if they aren't settled they will continue to show as defaulted every month, affecting my record. Do I have that right?

I assume that if I do nothing and leave them unpaid, once they slide off my file they cannot adversely affect me, and therefore I can rebuild my record?

Thank you.

When did they originally default ?

It's credit history that counts, paying everything else on time, is a plus, the further back in time bad information is, the less effect it will have on you.
For example, my bank, only looks at your last 6/12 months credit history when making lending decisions, even with a default.

So it depends if you want further credit or not, or wait till the defaults drop off, all down to your individual circumstances in the end.

TheDebtinator

sourcrates wrote: »

When did they originally default ?

It's credit history that counts, paying everything else on time, is a plus, the further back in time bad information is, the less effect it will have on you.
For example, my bank, only looks at your last 6/12 months credit history when making lending decisions, even with a default.

So it depends if you want further credit or not, or wait till the defaults drop off, all down to your individual circumstances in the end.

One was 2010, the other I think is either 2011 or 2012, as it defaulted twice (original loan was closed when PPI was paid back, then a new loan set up, I couldnt make the payment still, defaulted again, sold to debt collector - different account numbers so they screwed me over).

I know its a bit meaningless, but my credit score is 247 out of 700 with Clearscore. I have been accepted for a high APR credit card (just putting my work expenses on it and paying the balance each month to try and give me something)

TheDebtinator

Out of interest, is your default settled or satisfied? My two outstanding debts total around £16500.

TheDebtinator

Is it worth me sending this letter to my creditors? What would the outcome be if they acknowledge that they do not have a valid CCA?

Re: my request under s77/78 of the Consumer Credit Act 1974.

My request for a copy of my properly executed Consumer Credit Agreement remains outstanding.

The Act demands that I be supplied with a true copy of any properly executed credit agreement that exists in relation to the above account. I may ask for this on demand providing that a fee of £1.00 is paid. This fee was sent with my original letter, dated **DATE**. Upon receipt of the original request the specified account legally entered into a disputed status.

My request remains outstanding.

As you will know, under the Consumer Credit Act 1974, a judge is not permitted to make any enforcement order unless the creditor can provide a true signed copy of the original credit agreement. This means that unless you can produce such an agreement, this alleged debt is not enforceable in law.

You had until **12 days DATE** to provide me with the true copy I requested. After that date you entered into default of my request. Whilst the account is in dispute, you are not permitted to ask for any payment, nor am I obliged to offer any payment to you. Furthermore, whilst the dispute remains, you are not entitled to charge any interest on the account, nor make any further charges to the account. Additionally, you are not entitled to register any information on this account with any credit reference agencies (or any third party).

To register information with a credit reference agency, you must have written consent from the data subject to collate and share such information. This consent is given in the form of a signed credit agreement, so until you produce such an agreement, you may not do this.

The requirement for consent to share data is a clear requirement of the Data Protection Act 1998. Any such attempts to share my data without my consent will be met with a complaint to the Information Commissioners Office.

The time limits, which are laid down in the Consumer Credit (Prescribed Periods for Giving Information) Regulations 1983 are clear. You must supply an executed credit agreement within 12 working days of a proper CCA request. If you fail to comply with a legitimate request the account enters a default situation and if you fail to comply after a further 30 days you commit an offence. You entered into a default on **12 Days DATE** and subsequently committed a criminal offence on **MONTH DATE**.

Therefore you have 7 days from receiving this letter to contact me with your intentions to resolve this matter which is now a formal complaint, otherwise your conduct will be reported to the Office of Fair Trading, the Financial Ombudsman and Trading Standards. Any investigation undertaken by them may affect your ability to hold a consumer credit license in the future.

Take further note that continued telephone calls after the receipt of a request not to call may constitute a criminal offence under Section 127 of the Communications Act 2003.

Communicate in writing and ONLY in writing, your telephone calls will NOT be answered.

To sum up, I will not be making any further payments to you until you provide me with the document I have requested. Should you not have any signed credit agreement in relation to this alleged debt, please confirm this in writing to me.


I would appreciate your due diligence in this matter.

I look forward to your reply.

Yours faithfully

sourcrates

TheDebtinator wrote: »

Is it worth me sending this letter to my creditors? What would the outcome be if they acknowledge that they do not have a valid CCA?

There are a few iffy bits in that letter, that are no longer applicable.

I'm sure Fermi will be along with an updated version soon.

Otherwise yes, by all means send it.

TheDebtinator

Thanks, I will await Fermi's reply and move from there!

Out of interest, I am aware that there was a CCA rule change at some point? I cannot quite remember what it is and when it applied?

TheDebtinator

Found the info re the change. One of my accounts was opened in 1999, the other was opened before 2004, though was given a new account number around 2010 after a PPI pay out. Would this still fall under the original date for the CCA?

sourcrates

Re: my request under s77/78 of the Consumer Credit Act 1974.

My request for a copy of my properly executed Consumer Credit Agreement remains outstanding.

The Act requires that I be supplied with a true copy or a reconstituted version, of any properly executed credit agreement that exists in relation to the above account. I may ask for this on demand providing that a fee of £1.00 is paid. This fee was sent with my original letter, dated **DATE**. Upon receipt of the original request the specified account legally entered into a disputed status.

My request remains outstanding.

As you will know, under the Consumer Credit Act 1974, a judge is not permitted to make any enforcement order unless the creditor can provide a copy or reconstituted version of the credit agreement. This means that unless you can produce such an agreement, this alleged debt is not enforceable in law.

You had until **12 days DATE** to provide me with the true copy I requested. After that date you entered into default of my request.

To sum up, I will not be making any further payments to you until you provide me with the documents I have requested.

I would appreciate your due diligence in this matter.


Yours faithfully


I have removed the out of date, and incorrect bits, this is sufficient for your needs.

TheDebtinator

Thanks Sourcrates, I must have upset Fermi in a previous life hahahaha