DMP: 2 x CCA requests? Credit Agreement and Affordability - Is it worthwhile?

Ktaylor86

ManyWays said:

How much are you paying a month to them? 

It is part of the DMP and is around £70 per month 

Ktaylor86

fatbelly said:

At least PRA acknowledge that it is a formal request under CCA1974.

They don't seem to understand that it is a statutory fee. Anyway, keep the po and use it again. Ah, you made it payable to them. I never do that.

I thought the 12-day thing had gone but I notice National Debtline still quote it. Let me check.

Yep, pretty sure it's not there any more.

Thank you, 

I didn't realise the 12-day thing had gone. I read it on one of the sites I was on to get the template letter, either debt camel or National Debtline were both sites I was looking at. 

Edited to add - I didn't know I could have the PO not payable to them! Oh well! 

Ktaylor86

sourcrates said:

Paperwork is always retained by the original creditor, even when debts are sold, so PRA will have to go back to Barclaycard to try and obtain the information you have requested, which is why your account has been placed on hold, read nothing more into it than that.

It has absolutely nothing to do with the likelihood of Barclaycard having kept your information for 20 years, or not, its simply a statement of fact that they have asked Barclaycard to look for it, and will provide an update when they know more.

Thank yes, I assumed it would be the case PRA would have to go back to Barclaycard and that might take time. 

Good to know it is a standard letter, I thought it might be (given especially how quickly they sent it - figured they haven't had time to look yet!) but then the wording confused me a little. Thanks for explaining. 

Ktaylor86

Rob5342 said:

Thats just the standard letter they send while they are waiting for a response from whoever they bought it from. After about three months they told me that my Barclaycard debt was unenforceable but tried to downplay that with some ******** about it still being due and that they'd let me know if it became enforceable. Quite amusingly they enclosed a copy of a letter from Barclaycard to them that was marked internal only saying that due to the age of the account it wouldn't be possible to provide the CCA.

I'd stop paying now, you don't want to losr any more money than you hsve to. 

Out of interest - how old was your Barclaycard at the time? Hopeful mine will be similar 

Rob5342

Ktaylor86 said:

Rob5342 said:

Thats just the standard letter they send while they are waiting for a response from whoever they bought it from. After about three months they told me that my Barclaycard debt was unenforceable but tried to downplay that with some ******** about it still being due and that they'd let me know if it became enforceable. Quite amusingly they enclosed a copy of a letter from Barclaycard to them that was marked internal only saying that due to the age of the account it wouldn't be possible to provide the CCA.

I'd stop paying now, you don't want to losr any more money than you hsve to. 

Out of interest - how old was your Barclaycard at the time? Hopeful mine will be similar 

It was 21 years old, it was an Egg card originally and was later transferred to Barclaycard. 

sourcrates

Rob5342 said:

Ktaylor86 said:

It was 21 years old, it was an Egg card originally and was later transferred to Barclaycard. 

Well that`s a stroke of luck then.

The vast majority of Egg agreements, I say the vast majority, I might be so bold to say all of them, were deemed to be irredeemably unenforceable for various reasons.

The main reasons being:

(1) the prescribed terms were not fully stated or set out in a compliant manner,
(2) there was no reference to purchases made using the card and any interest rate that would be applicable to those purchases.

(3) Some of the prescribed terms, for example the interest rate applicable, was missing, information on charges was missing, the list goes on.

(4) Also, when it transferred to Barclaycard, you may not have signed a new agreement.

So you may, just may, of hit gold here.

 

Rob5342

sourcrates said:

Rob5342 said:

Ktaylor86 said:

It was 21 years old, it was an Egg card originally and was later transferred to Barclaycard. 

So you may, just may, of hit gold here.

Yes i think I did, I don't remember ever signing a new agreement, I think I just got a letter saying it had been transferred to Barclaycard. The balance was around £8000 so I saved a fsir bit. When i first heard about CCA requests it I thought it sounded like a rarely used loophole and almost didn't send the letter off, now I just wish I'd sent it earlier. 

RAS

I recall when I first joined MSE and CCA requests became a "thing", that almost all Egg accounts failed to meet requirements. In the aftermath of 2008 that became welcome relief for a lot of folks.

Obviously, lenders started to wise up.

Ktaylor86

I had an interesting discussion with Stepchange yesterday in regards to removing barclaycard from DMP. 

Who started with the discussion with telling me they couldn’t remove any debts from the plan. Then transferred me to another person, eventually the other person said only if it’s statue barred which I had to explain was a whole different thing and explain explained again the CCA and unenforceable thing. 

Eventually they conceded (after speaking to someone else) that yes I could do that if I think it’s unenforceable but I’d still owe the money (of course) but that would still be visible on credit file even when default drops off 🥴 
and is against their ethos of working towards being debt free. 

Not sure if this would mean it would impact my credit rating still? 

Either way I’ve held off for now removing it from plan anyway. 

fatbelly

Go self-managed

Stepchange are funded by a rake-back of the payments you make, with the agreement of the creditors.

Clearly if they start refusing to pay people it endangers their funding model