Cca Requests Updates Please

kennyvinegar

Cahoot have emailed me about my loan saying I need to call them, does anyone have a template letter that I could send them saying the account is in default? Or should I just send them another copy of the 12+2+30 letter?

NUFCnutter

I am not sure of the answer kenny, but am sure you will get one soon. Good luck with Cahoot.

shinyhead

Hi NUFC,
Just because you got something back doesn't mean it's legal.

Is it in fact your application form, and does it have all the prescribed terms in accordance with the CCA act 74? A lot don't. Take a look along this thread and I'm sure there are some posts that tell you what should be on there.

NUFCnutter

Its the copy of the application form signed in 2001. At the top of the form it says (as best I can make out).

Failure to complete all sections of the form may delay acceptance of your application. Not available to persons under 18 years of age or non-uk residents. post in the enclosed envelope to the address shown at the foot of the application. Credit agreement regulated by the consumer credit act 1974.

It also says at the signature strip part

Applicants Signature. This is a credit agreement regulated by the consumer credit act 1974. Sign only if you want to be legally bound by its terms.

NUFCnutter

But from checking the form and the guidance on the CAG website there is nothing to say anything about the repayments, the rate of interest or the credit limit when I signed it.

On the letter they have sent it says, "Please note that the information we have provided you with is all the information we are required to provide you with Under Section 78 of the Consumer Credit Act."

I thought the CCA HAD to have the credit limit, the repayment details and the rate of interest on it.

NUFCnutter

Wait one cotton picking moment. Ok my letter says:

Dear Miss XXXX

Thank you for your statutory request for information with respect to the above agreement.

Enclosed is a copy of the executed agreement.

As at the date of this letter:
1) The balance of the account is £1796.61
2) The credit limit is £1500.00
3) The current interest rates are 20.83% per annum for purchases, 20.83% per annum for balance transfers, 20% for cheques and 20% for cash advances (19.9% apr).
4) The arrears on the account are £141.21
5) The amount currently payable by you to reach us by 4th July is £36.03
6) Further payments will be payable each month at the rate of 2% of the balance outstanding or £5, whichever is more.

Please note that the information we have provided you with is all the information we are required to provide you with Under Section 78 of the Consumer Credit Act.

Yours faithfully,

blah blah blah

And then attached is the poor photocopy of the signed application form, and an up to date Credit Card Agreement regulated bythe Consumer Credit Act but that is not signed.

NUFCnutter

Anyone? Please

rog2

NUF!!!!ter wrote: »

And then attached is the poor photocopy of the signed application form, and an up to date Credit Card Agreement regulated bythe Consumer Credit Act but that is not signed.

Then it is most unlikely to constitute a true copy of the original cca, which you requested.

rog2

NUF!!!!ter wrote: »

I thought the CCA HAD to have the credit limit, the repayment details and the rate of interest on it.

You might want to look at the following thread, NUFC:

http://forums.moneysavingexpert.com/showthread.html?p=7869437

Once again, thanks to weller711.

NUFCnutter

This is my rough draft of a letter I am sending back tomorrow, does it read ok?


Dear Sir,

Thank you for your letter dated 4th July 2008. Unfortunately you have not sent me a true copy of the signed CCA as I requested but a poor copy of the initial application form. You will see that the application form is not a CCA as it does not include the necessary prescribed terms within the copy. According to Section 127 (3) of the Consumer Credit Act 1974 the prescribed terms for a running account agreement such as a credit card, and which should be included in the CCA are details of:

(1) Repayments.
A term stating how the debtor is to discharge his obligations under the agreement to make the repayments, which may be expressed by reference to a combination of any of the following~
(a) Number of repayments.
(b) Amount of repayments.
(c) Frequency and timing of repayments.
(d) Dates of repayments.
(e) The manner in which any of the above may be determined; or in any other way, and any power of the creditor to vary what is payable.

(2) Rate of Interest.
A term stating the rate of interest to be applied to the credit issued under the agreement.

(3) Credit Limit.
This may be a term or the manner in which it will be determined or that there is no credit limit.

You have included a copy of a credit card agreement, however this is not signed. Therefore you have failed to respond to my legal request to supply me a true copy of the original Consumer Credit Agreement for the above account and so the claim in your letter that “…the information we have provided you with is all the information we are required to provide you with under Section 78 of the Consumer Credit Act…” was not correct.

The document that you are obliged to send me is a true copy of the executed agreement that contained all of the prescribed terms, all other required terms and statutory notices and was signed by both your company and myself as defined in section 61(1) of CCA 74 and subsequent Statutory Instruments. If the executed agreement contained any reference to any other document, you are also obliged to send me a copy of that document. In addition a full statement of this account should have been sent to me detailing all debits and credits to the account.

I therefore will allow until the 18th July 2008 for you to send a true signed copy of the Credit Agreement, before taking further action. I would appreciate your due diligence in this matter.

I look forward to receiving a reply within the stated time,



Yours faithfully