CCA Requests (Zopa/Cabot)

rainingmonkey

Hi, I'm currently in the process of working through my 9 creditors to request cca's. (nearly £50k debt) all which was defaulted 6 years ago. Most loans and credit cards taken out 8-10 years ago. 

So far out of the 9 only 2 have managed to produce a CCA which look pretty good to me. 

Cabot originally advised they were unable to provide a CCA for a Zopa loan... Now a few months later they've sent me a further letter containing a copy of the 'loan contract summary'. This document contains my details but doesn't contain anything which I've signed electronically/or physically or even a tick box agreement. 

They've also advised that the account is defined as 'non commercial' under the CCA. They state 'non commercial agreements, whilst regulated, are expressly excluded from some drafting and procedural requirements under the CCA and it's regulations as defined in the act. Specifically there is no obligation to provide information under section 77 of the act. 
As such we will no longer be processing your request and have withdrawn your cca request. 

They go on to say that they are able to enforce the credit agreement and obtain a CCJ. 

Does anyone have any experience of this and the validity of the agreement and the statement from Cabot? Or is anyone able to review the documents to confirm whether what they state is correct? 

Thanks so much

fatbelly

Interesting question.

Are non-commercial agreements excluded from some of the requirements of the CCA1974?

Yes, if you look at the end of section 77, they are excluded

What is a non-commercial agreement?

Section 189 says it is a loan given by a creditor not in the course of their normal business

https://www.legislation.gov.uk/ukpga/1974/39/section/189

Is a Zopa loan a non-commercial agreement?

That's the question

sourcrates

More smoke and mirrors from Cabot.

Zopa are "peer to peer" lender, and according to their website:


"The Zopa Loan Conditions form the legal basis of all our Loan Contracts. They set out our obligations to each customer, and each customer's obligations to us.

Each customer's Loan Contract is personalised with their specific loan details".