Your Credit Agreement May Be Unenforceable

Tixy

Hi Lordh

Do not touch these guys with a barge pole - they are overpromising on what they can deliver. There is no need to pay any money for this service its something you can do for yourself for a few quid with advice from the people on here.

It is not possible to get your loan agreement wiped out but some agreements may be unenforceable in court due to the CCA (consumer credit agreement) not containing the prescribed terms. The debt would still exist even if its unenforceable.

Firstly this only applies to agreements taken out before April 2007. If your agreements are before this date and you are interested in looking into this then this thread is a good starting point - http://forums.moneysavingexpert.com/showthread.html?t=1868507

You need to be aware that doing this is likely to damage your credit rating.

Do you have PPI on the loan or credit card? If so you may want to consider whether this was missold - have a look on this forum - http://forums.moneysavingexpert.com/forumdisplay.html?f=169

shaggy72

I had one of those companies contact me today and they said that as i arranged the loan over the phone back in 2006 with northern rock the paperwork they supplied was not up to standard and that i would now be able to dispute the whole loan as the loan agreement does not bear a witness signiture, can this possibly be true ?????

DarkConvict

shaggy72 wrote: »

I had one of those companies contact me today and they said that as i arranged the loan over the phone back in 2006 with northern rock the paperwork they supplied was not up to standard and that i would now be able to dispute the whole loan as the loan agreement does not bear a witness signiture, can this possibly be true ?????

You can check for the unenforceablity yourself - http://forums.moneysavingexpert.com/showthread.html?p=26867731#post26867731

As with all loop holes things are tightening up, only pre april 2007 debts can be tested for unenforceablity based on no signatures, agreements after that a judge can rule the debt is still enforceable and issue a CCJ.

shaggy72

Thanks, i still have the original credit agrrement from northern rock, the one they sent me has just a signiture from them, the other box which is the ' signature of borrower ' is unsigned and states ' THIS IS A CREDIT AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974. SIGN IT ONLY IF YOU WANT TO BE BOUND BY IT'S TERMS'.
I was also informed there needed to be a witness signature too.

So seeing as these signatures are missing i assume the CCA is unenforcable. Am i correct ?

If so , how do i inform Northern Rock that i believe it is so and how do i word such a letter ?

Many thanks

Tixy

Shaggy

Could you have signed a copy of that agreement and sent it back to NR? Usually they send out 2 copies, one for you to retain and one to return.

If you do want to look into whether the agreement can be enforced in a court you need to read the info and follow the steps in the link DC provided in post #14