consumer credit agreements

donnalove

could someone help, i sent a letter including a pound chq asking for my credit agreement from littlewoods (or ndr recovery) who i have been paying at a reduced rate for 4 years they are still charging interest,
anyway i sent this letter on 17th august, they have cashed my chq but have not recieved the agreement, next payment due on the 6th septemper.shall i pay this any advice appriciated

thanks donnalove
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Kimberley

I think you have to give them 14 days from the date of your letter, i'm not sure though. Also i too have a debt with littlewoods and i'm pretty sure that without a signed agreement they can not enforce the debt. I sent my letter to them requesting my copy over 4 weeks ago and still no word from them..

Xbigman

If you are in an IVA then all remaining debts should be written off at the end of the IVA term and littlewoods will have no case against you. Check with whoever is doing the IVA for you and they will confirm.

Are you sure its an IVA you are in? If its some other type of plan this could be different and there is very little you can do about it but keep up the payments on the plan now and clear this debt after you have finished your pro rata payments to everyone else.
Regards



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Kimberley

Sorry to sound dumb, but what is IVA?

donnalove

hi littlewoods were not included in iva as i was paying them fine and wanted to keep them so i could still get xmas and birthday pressie's,
i fell behind cos iva i&e was so tight

thanks donnalove
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Fedz

Kimberley wrote:

Sorry to sound dumb, but what is IVA?

IVA = Individual Voluntary Arrangements.

More info here at Debt Help UK

Kind regards

Fedz

I had to read your OP several times as I was finding it difficult to understand what position you were in.

If you can afford the payment on the 6th Sept. pay that and stick to your usual payment until you know different by arrangement.

If I understand it correctly you have an informal agreement between you and littlewoods to pay the debt off at a reduced payments furthermore you owed littlewoods £1,600, have paid £2,000 in 4 years and still yet you owe £1,600?

Kind regards

donnalove

fedz sorry you couldn't understand my post it does sound confusing.
yes you are right it is an informal arrangement, they do not know about iva.
i had read some posts on the credit agreement and thought i would send for mine, i truly cannot remember if i did or did not sign it.but today i worked out i had paid more than the debt itself in interest over the 4 years and the debt is at the same level.
i would be happy to pay this untill iva finishes, then perhaps i can default and get interest stopped, as i don't think i could do this at the moment i don't know what the risks are.
but if i havn't signed the agreement then i might get somewhere sooner.

hope you can understand
donnalove

Xbigman

Firstly you should have added that debt to the IVA to clear it. Carrying even a small debt around whilst other creditors get reduced payments is against the idea of an IVA. I thought this was actually against the IVA rules but someone else may know better. You certainly should have told the IVA people and had the payments included in your budget at the least. In this respect I think the problem is of your own making and all you can do in relation to clearing the debt is keep paying what you can afford for now. When the IVA ends you pay this smaller debt off and chalk it up to experience.

However. Your first post is now clearer. You have asked them for a signed copy of your credit agreement, which they have not supplied. You need to contact them by phone and ask where it is. If they cannot tell you then write to them saying you do not believe you have a credit agreement with them and therefore the debt is unenforcable in law and you are ceasing payments. There will be howls of anguish but stick to your guns and refuse to pay anything until they produce the credit agreement. If no such agreement exists and you have repaid the capitol (they cannot legally charge you interest) then this debt is gone. You might get debt colectors chasing you but all you do is ask them to produce proof that you owe the money, and they can't.
Regards



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