loans and signed credit agreements

fiveyearplan

That's great news TD43. I've requested 2 CCA's - one for husband's MBNA cc and the other for a Cahoot Loan. Neither have come back with the correct paperwork so far but Cahoot has now passed it to a DCA.

rog2

fiveyearplan wrote: »

That's great news TD43. I've requested 2 CCA's - one for husband's MBNA cc and the other for a Cahoot Loan. Neither have come back with the correct paperwork so far but Cahoot has now passed it to a DCA.

Cahoot should not have passed it on to a dca, whilst you were waiting for a reply to your cca request - the 'debt is in dispute.

rog2

tonydav43 wrote: »

A massive thanks to rog2 for always managing to clearly point out the facts that perhaps others sometimes miss or misconstrue and thanks for the initial advice in the very beginning months ago.

I am just so pleased that Halifax have conceded that they must, indeed, respect the Law of the Land, td43.
Just a shame, really, that you had to go through all that brown stuff.

kirsty0304

I dont want to pick sides here but I know how this guy feels being in the same situation. My bank have increased my payments on my loan so I asked to see my agreement as I was sure I agreed to a fixed rate loan. They cannot provide it to me and insist I agreed to a variable rate loan. Its not that I want to stop paying or I am trying to get out of my debt, but when you genuinly want to see it because we feel that a mistake has been made, its reassuring to know that there are laws in place to help. I would be happy to continue to pay my loan if they could show me my agreement.

petermb_2

Hi Kirsty
Sadly for the lender, if your loan is regulated by the Consumer Credit Act, under section 77 of that act the lender must upon request and on the provision that you pay the fee of £1, must provide you with a copy of the agreement. If they fail to do so the loan becomes unenforceable until they do after 12 days has elapsed. Should they then continue to fail to provide the agreement after 30 days they are actually committing an offence.
Do not let them bully you.

kirsty0304

Hi

I have already sent the bank a letter asking for my agreement and have it in writing that they cannot provide me with a copy. I originally asked for the agreement back in December so the 12 days have passed. I was not aware that I had to send a £1 fee at the time, does this mean I need to write to them again asking for the agreement with the fee?

Thanks

petermb_2

I should and refer to section 77 of the consumer credit act

rog2

kirsty0304 wrote: »

Hi

I have already sent the bank a letter asking for my agreement and have it in writing that they cannot provide me with a copy. I originally asked for the agreement back in December so the 12 days have passed. I was not aware that I had to send a £1 fee at the time, does this mean I need to write to them again asking for the agreement with the fee?

Thanks

They should have written back, informing you that there was a 'statutory fee' for providing you with this information. Not all creditors actually 'charge' this fee.
Personally, I would send them a letter stating that they have failed to provide you with the cca, which you can find on the following link:

http://forums.moneysavingexpert.com/showthread.html?p=6921563

Only if they write back stating that your original request was not acceptable in that you did not include the £1 fee, should you send a second 'request'.