CCA advice please

sourcrates

The people who work at a DCA are mostly in sales, imagine a large room full of desks and computers, each with a telephone, that is your average DCA.

Only the compliance dept will have any knowledge of consumer credit act legislation and other compliance issues, that's why it's pointless speaking to these people on the phone about anything other than arranging payment.

fatbelly

You're doing well, decked.

Keep us updated.

Decked

Ok, maybe this isn't an update, but from memory, I recall Barclaycard took over some egg cards, including mine. So if I have requested a CCA, off BC, would it be the egg one which is applicable? Hypothetically, if it was the egg one and I managed to find a copy of the CCA, which may be from about 2004, what would I be looking for that would make it unenforceable? (Or is it not that Simple?)
thanks

Decked

Ok, update as promised;
CCA requests sent to Barclaycard x 2, Wescott x 2, they said they would request them, no fee or need to provide written request, Link financial x 2.
Link and Wescott have sent letters saying they have to request from their client etc. Therefore it may take 30 days, there is also an implication that I may not have to make payments whilst they are waiting for the paperwork.
Barclaycard have already returned one CCA, which is from an Egg card, to be honest, if I had a law degree, I may be able to understand it, but I haven't so I don't. I have actually found the original Egg agreement.
So, is there an easy way to see if the Egg agreement is enforceable?

pigmnv

Decked
It looks you are well on the way to getting debt free. I myself are at the start of this process just learning more and more from all you guys so thanks.
Ive just got a few questions what does the CCA look like I assume it must have your name on like a contract.?
If they can not produce it do they just write it off or do you then have to take them to court to clear it.?
again thanks all it really helping me
m

sourcrates

pigmnv wrote: »

Ive just got a few questions what does the CCA look like I assume it must have your name on like a contract.?
If they can not produce it do they just write it off or do you then have to take them to court to clear it.?
again thanks all it really helping me
m

Credit agreements vary, dependant on the type of credit you are applying for, but generally they will contain your name and address, the amount of credit granted, lt will list your repayments, the interest rate, and for loans, the total amount payable etc etc.

There will also be the terms and conditions applicable to the agreement.

If the creditor can't provide what they are supposed to under the act, then they are prevented from taking you to court to enforce the agreement, the debt still exists, it is not written off, it just cannot be enforced through the courts.

fatbelly

Have a look at this factsheet

https://www.nationaldebtline.org/EW/factsheets/Pages/getting-information/credit-agreement-advice.aspx

pigmnv

Cheers all this is now my favourite site I bow to your superior knowledge

Decked

First of all, welcome pigmnv.

I haven’t ever offered advice on this forum as I do not feel qualified to do so, but if following my story helps others, then that’s a good thing.
As you say, I am nearing the end now, it has been a long haul, but stick at it and you will get there. One piece of advice I do feel qualified to give, is that when you set your budget, be realistic, you can’t live like a pauper for 5 years, yes you can cut back, but you have to have a life as well.

Stepchange has helped me to get where I am today, often they would tell me my budget was a bit high in places, I dug my heels in and told them to send it to the creditors, I never once had an issue, but I am paying them all a decent amount, so I suppose they are happy.

Ok, so to get back on thread here is the update.

CCA requests sent to Barclayard x 2, I have received 2 responses back, which appear to have the correct CCA information, oh well no good news there.
One thing with Barclaycard though, people have said they have had to pay interest if their repayments are over a certain percentage each month. I had that, I rang and explained to them, that I was trying to clear this debt and by charging me interest this would drag it out for many years, we had a bit of tooing and froing on the phone, but eventually they agreed to freeze interest.

I am currently paying over 20%, yes 20% per month and I am not paying interest and haven’t been for years now. Obviously a couple of years ago, this amount would have been maybe 3% or 4%, so it may be worth a polite call to them if you are being forced to pay interest. They gave me all the spiel about my credit rating etc, I explained that when it was as shot as mine, I did not care what they put on my credit file, just that I could actually make some inroads into clearing the debt.
OK, so 2 more CCA request sent to Link financial, both for MBNA cards, they gave the usual reply about them having to get paperwork off the original lender and can I give them time etc. So no news off those 2 at the moment.

Final 2 CCAs were via Wescot, they applied for them on my behalf and I was told that there would not be any fee. I was not impressed when I received a letter last week explaining that I would have to write to RBS directly including the fee. However the following day, I received another letter off Wescot containing the CCA information from the other account which they had requested, so in all fairness to Wescot, they can get the info for you in some circumstances.
So in summary, 6 CCA requests sent, 3 CCAs returned, 3 still outstanding.
It looks like I won’t be getting much of a reprieve as I near the end, but you what, I borrowed the money and I have no real issue if I have to pay it back. At the end of the day it is my fault.

That said, Link did offer me a 25% discount before I asked for the CCA, so if they supply the correct paperwork, I might still be able to get a bit of a discount to settle.

One thing I did do, was ask Stepchange to reduce the monthly payment slightly this month, this was because I paid Lowell off last month with a 60% discount. This causes issues with SC, as they say you have to treat all creditors the same, I told them I did, I offered them all 40% of the outstanding balance to settle, only Lowell took me up on it, so in my book, I think that counts as treating them all fairly!
Anyway, SC didn’t like it, but I explained to them, that in the past, when my budget allowed, Stepchange INCREASED payments to certain creditors, only for the creditors to write to me as I had now broken my agreement with them to pay a certain amount per month, yes I know it is ridiculous the fact that you are paying them, more and they do not like it, you would have thought they would be glad.

Anyway, if I get even one offer of discount to settle an account, I might then pack in with SC as it makes the final process that bit easier. (Do not get me wrong, Stepchange have helped us get where we are today and I would have no problem recommending them to anyone)

Sorry if I have gone off thread a bit, but it is all relevant.

I have also got all my exact balances off the creditors, so I actually still owe £6800, I am paying £1300 per month, so that means in December, I would only have to pay £300ish, so it is looking like a good Christmas is on the cards. If Lowell will still honour the 25% discount and I cut back a little bit, I aim to be clear in October, that is just 4 months away!

I will keep you all informed when something significant happens.

Thanks for the advice and good luck to all reading this.

Decked

Okay, sorry if this thread is getting a bit long, but people may find it useful that my CCA journey is all in one place.

So 6 CCA requests sent, 5 have come back, some even have the original signed agreement.

I am waiting on a Natwest Credit card from 1999, but at the moment they haven't given me anything to bargain with.

Spoke with Link, they have 2 of my accounts, I made offers over the phone and in all fairness to them, they said they would ring back within 48 hours and they have. Each time I offered about 40-50% to settle, but they have come back with 75% of the balance. Anyway, I have counter offered (on the advice of their advisor), if no better offer comes back, I think I will try and pay them off anyway, after all these are both defaulted and under my current payment plan with Stepchange, they would be clear in 3-4 months, so might as bag myself a couple of hundered pounds saving. (they also confirm the offers in writing)

I had planned on finishing with Stepchange, but I might leave it one more month, Link are happy for the final payment to include next months Stechange payment. (however if the Natwest account comes back unenforceable, I will finish with Stecpchange, then I can better manage my negotiations)

If there is no bonus with my Nat West account, I am planning on juggling things so my last payment to Stepchange will be in October, I can't believe the finish line is getting so close:)

One slight doubt is how Barclaycard will react, I am currently paying about £200 a month of a £900 balance and the same off a £2200 balance. in the past I have had to fight with them to stop interest, which they have done, but maybe if my payments go up significantly, I am worried about them charging again. I am thinking of ringing them and saying I am willing to pay them more each month on a fixed term payment plan and see what they say. They don't know that in 3 months my payments to them will easily double, if I can negotiate a payment plan, I know it prolongs me being in debt, but it maybe will release me an extra £900 per month from September and at the end of the day if they do not charge me any interest, if it takes me 6 months extra to pay off, so what.

I had quizzed Wescott about going self managed, they want a budget etc, even though I was willing to pay more than I do now, still if I do go self managed, I can't imagine them sending back any payment i make each month.

Ok, enough of my ramblings for now