Unenforceable loan agreements

Cashpig74

Hey Orangetrader - I hear you on that one, I came accross a firm that give 100% of money back if a claim is unsuccessful, they charge a little more upfront but there is no "success fee" at the end which A LOT of other firms charge but dont tell you initially - so this one was legit and up front about their terms and did a good job too (challenge my bank . com) is think it was.

Anyhow, I tried to contact a solicitors direct and I was told that they only deal through claim management firms. Most solicitors that will deal direct will charge you from a client account on a monthly basis as it is likely to be a "one-off" claim situation for them and they're not likely to charge say £295 for potentially months of work.

The conditional fee agreement (no win, no fee) is likely to be set up by a firm dealing with lots of cases.

petermb_2

aj2703 wrote: »

So what is likely to happen if they can't produce an agreement at all. I have been in dispute with Cabot for a couple of months now. I have just sent the 3rd letter to them now asking for my money back with interest etc http://forums.moneysavingexpert.com/showthread.html?t=963087 post number 7. Now if they can't produce one. What is the time frame..?. If i were to goto court, do you think they would actually turn up to defend it. The reason i am asking is cause my origional agreement was with HFC something like ten years ago and i'd be very suprised if Cabot do come up with the origional agreement.

Write to Cabot informing them that as they have o0r the lender have not complied to section 77 of the consumer credit act 1974, the loan is deemed to be unenforceable.
Ask them to confirm in writing that this is the case.

aj2703

So the letter i have just sent dosen't cover that then....?

simon_the_poet

HI
If a section 77 request is not complied with within 12 days it is in default the section that refers to the creditor commuting a defence(77(4)) was repealed last year by the new CUPR legislation.
The courts would not usually render an agreement unenforceable on a breach of this section anyway, if an agreement was produced at the hearing.
Odds are that they have an agreement but they know that it is unenforceable because it breaches section 127(3) of the act.
I would try getting a copy of the agreement under the Data Protection Act provisions. I think there is a template letter on here somewhere it will cost you a tenner.
Regards
Simon

Cashpig74

AN agreement wont cost you a tenner. Accessing your entire personal file under the Data Protection Act 1998 may cost a £10 but they then provide all the documentation for that. They do not have to charge anything though.

Sending an agreement request is a fair request and should be acknowledged. Send a £1 cheque to cover the requirements laid down by the CCA 1974.

By not providing you with it for what ever reason, does commit an offence. If the reason is that they feel it breaches another section of the Act whiich is why they are reluctant to honour your request, then this is wrong and the WHOLE reason that NOT sending you the agreement commits an offence.

It is so that they cannot get away from the fact that they hold a flawed agreement and are unwilling to show you that when asked.

Cashpig74

If your agreement breaches the act, then it breaches the act and there is no judge in the land that can overule the act - prior to april 2007 in some circumstances anyway.

thats the point.

aj2703

So where do i stand then with regards to getting my money back...?.

Cashpig74

im not sure I fully understand your case - has your bank refused to give you your agreement?

aj2703

No i have written to a Debt Collection Agency asking for a Copy of my CCA http://forums.moneysavingexpert.com/showthread.html?t=963087 post number 9. The time frame passed with nothing received from them except the usual letter saying they will contact the origional lender to try to obtain the agreement. Anyways the 12 working days passed so i sent them another letter, post number 12. Still nothing back except saying the origional lender is having trouble locating it and the account will remain on hold. I have just sent them this letter post number 7. I want to know where i go from here should i not hear anything back.

Cashpig74

What does "on hold" mean exactly? Have you written to the lender directly also?

If you write more letters, make sure you send them recorded del and put a
"CC" at the bottom to places like "Financial Ombudsman" and the "Office of Fair Trading" etc...

it shows that are more focussed and not an easy brush off as they may take you for.

The DCA should provide you with the documents esp if they have written to you stating that they have taken over the debt and taken over managing the account. The responsilbiliy lies with them.

Try this one:

"Under Section 189 of the CCA 1974, you are obliged to provide these documents whether you are the original creditor or not".