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Bank loans and CCA’s
I have 2 defaulted loans, 1 is a Barclays loan and the other is a barclaycard masterloan.
Am I right in thinking that you can’t request a CCA for loans?
Comments
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No, you can ask for the CCA for loans, credit cards and HP. Not overdrafts.
How recently were these loans taken out and have the defaulted debts been sold debt collectors? who?
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That’s good news. The loans are very old 20 years+ and defaulted similar period. The Barclay loan is in the hands of PRA group and the Barclaycard master loan is still with them
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Have you been paying for the loans since the defaults?
If you've have not made a mistake, you've made nothing0 -
yes, I’ve been paying token payments
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When I read "Masterloan" I thought, Wow now there`s a blast from the past lol.
Anyone with a financial product regulated by the consumer credit act, that falls under sec 77/78/79 CCA, can ask for a copy of the credit agreement pertaining to that product, so long as a balance remains on that account.
Section 77, covers fixed sum credit agreements, such as loans.
Section 78, applies to running account credit agreements, such as credit cards, store cards etc.
Section 79, pertains to hire agreements only.
You must make your request in writing and enclose the £1 statutory fee usually in the form of an uncrossed postal order, not every creditor will cash it, some will return it, so don`t write on it and it can be used again.
We have a template letter in the stickies on this board, which is currently up to date.
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The sections @sourcrates quotes are likely to be withdrawn next year so don't hang around. Use the law while we have it
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Thank you so much for all the information. I have a few to send off, I have the letters already printed, so will get on and post them today, and wait for the responses
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