Can you request a CCA for a secured loan?

jimm24

I want to see what I'm being charged for etc etc.

RAS

Hi

You need to do a Subject Acccess Request for this. Loook on the bank charges forum for Martin's draft letters. You have to change the bit about wanting the list of charges etc to fit what you want from them.

rog2

jimm24 wrote: »

I want to see what I'm being charged for etc etc.

Of course you can, jimm:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=getting_a_copy_of_your_credit_agreement_and_account_details

It may well be that a secured loan may not be covered by the Consumer Credit Act, 1974 - for example if it is larger than £25,000. If this is the case, you may need to consider sending a SAR (Subject Access Request) as is your right under the Data Protection Act, 1988. There is a statutory charge of £10 for this, but the creditor must send you full details of everything they hold on file about you and the account:

http://www.ico.gov.uk/upload/documents/library/data_protection/practical_application/subject_access_-_guide_for_data_subjects.pdf

In any case, it is the duty of a creditor, or debt collection agency, to provide you with an up to date statement of the account on request:

http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

jimm24

Its for 10,000 will that be covered by the consumer credit act?

rog2

jimm24 wrote: »

Its for 10,000 will that be covered by the consumer credit act?

Should be, jimm. Was it a normal 'loan'?

jimm24

Just a normal secured loan,as far as I can remember?I had a fairly decent credit rating back then,but was newly self employed so had to go with welcome(arghh!!)

rog2

jimm24 wrote: »

I had a fairly decent credit rating back then,but was newly self employed so had to go with welcome(arghh!!)

In that case, I would send them the cca request, as a starter, jimm. I'm sure you don't need reminding of Welcome's track record on this board, but even they must respect their legal obligations.

Good Luck.