Cahoot Credit Agreement - Or is it?

Under Siege · 27th November 2007, 16:40

This from my CCA request to Cahoot.

It is for a Flexible loan

I would appreciate your views

TIP - If you have a lot of creditors and are going to send CCA requests to them all at the same time, make sure you have the time to deal with all the paperwork and invest in a good filing system!
At this rate I will need a secretary.

Under Siege · 27th November 2007, 16:42

See what I mean?

Im that busy I forgot the attachments!!!

pt2537 · 27th November 2007, 16:52

Hi Under Siege

ive had a quick look and from what i can see it looks ok to me, it may be worth a second or third opinion as ive only glanced over the agreement but the terms required appear to be there from first glance

regards
paul

Under Siege · 27th November 2007, 16:56

Hi again Paul,

Its that different from all my other Credit Agreements I thought I would post it up here for the professionals to look at.

Don't the signatures have to be on the same page as the prescribed terms?
Plus Cahoot's signature is dated before mine! Does this have any relevance.

I'm doing so well at the moment with other credit agreements, maybe I'm getting a little carried away.

pt2537 · 27th November 2007, 16:59

Hi Under Siege

As i said ive only had a glance, i will have a longer look this evening and see if there is anything ive missed.

i will need to look at the regulations to see RE the signature etc

regards
paul

Fred Bassett · 28th November 2007, 22:48

Subscribing. I've got a Cahoot debt too and the agreement they sent back looked OK to my untrained eyes.

I have to say that of all my creditors, Cahoot have been by far the most easy, pleasant and professional people to deal with. They also returned my credit agreement within the prescribed time limit. Somehow, I half expected that.

I'll be interested to see what comes of this thread.

Regards.

Fred

Fred Bassett · 11th December 2007, 18:45

Quote:

Originally Posted by Under Siege

Hi again Paul,

Its that different from all my other Credit Agreements I thought I would post it up here for the professionals to look at.

Don't the signatures have to be on the same page as the prescribed terms?
Plus Cahoot's signature is dated before mine! Does this have any relevance.

I'm doing so well at the moment with other credit agreements, maybe I'm getting a little carried away.

Under Siege,

Did you get anywhere with this? I'm was about to start my own thread but as my case seems almost identical to yours I thought I'd see if you'd had any other responses.

Regards.

Fred

Under Siege · 11th December 2007, 21:49

not yet,

Ive had that much on my plate with my DMP ive not got round to it yet.
Having said that, Cahoot are the worst creditor that i have dealt with, they are refusing to accept any kind of reduced payments. Therefore I need to look into this in more detail.

Watch this space

Fred Bassett · 11th December 2007, 21:53

Quote:

Originally Posted by Under Siege

not yet,

Ive had that much on my plate with my DMP ive not got round to it yet.
Having said that, Cahoot are the worst creditor that i have dealt with, they are refusing to accept any kind of reduced payments. Therefore I need to look into this in more detail.

Watch this space

Thanks for that.

Strangely, Cahoot have been by far the easiest one to deal with for me. They accepted the offer from the CCCS without question, have always been polite and courteous and have never given me any hassle. Just how odd is that? Things might change of course once I extricate from my DMP but I'll just have to see.

Regards.

Fred

Under Siege · 11th December 2007, 23:48

Its probably because Im arranging my own DMP, and they would rather me go through CCCS or Payplan

andyorch · 12th December 2007, 00:29

Hi UnderSiege
To refer you back to your question in post 4

In respect of the agreement, the prescribed terms should be contained in the signature document and if there is more than one document, they should relate/Link/connect to each other.

Regards
Andy

pt2537 · 12th December 2007, 00:47

True Andy,

the only thing which would worry me here is this document is 2 pages which appear to be front and back of an A4 sheet of paper.

now should this be the case and they produce this in court well, youre sh!te outta luck cause the judge may view the construction of 127(3) as giving him power to enforce such agreement

this arguement works with documents headed terms and conditions such as the one on this thread Pinky ~V~ Capital One

im not so sure this would be the case here, after revisiting the regs i cant see anything which convinces me otherwise

regards
paul

Under Siege · 12th December 2007, 12:03

I guess that this is going to be a tough one to fight.
If I remember correctly the agreement came in the form of an A4 booklet.

andyorch · 12th December 2007, 12:26

" I guess that this is going to be a tough one to fight.
If I remember correctly the agreement came in the form of an A4 booklet"

Well my gut feelingis if thats the case, then they do not Relate/ link/ or connect as there are no letters/numbers and if your sig box was in the form of a booklet how could it be on the reverse of the prescribed terms?

Unenforcable 99% sure, there is also somthing else not quite right just checking will get back to you

Regards
Andy

andyorch · 12th December 2007, 12:40

Hi Under Siege

Back to your post 4 you state about the agreement being presigned on reciept.You can have a situation where the creditor signs the agreement 1st, effectively so it becomes binding on both parties once it's signed by the debtor. The problem however, that I see with your agreement, is that they are not following the normal procedure in that the agreement becomes binding upon the sig of the debtor. They have inserted a condition precedent, which essentially means they are dispensing with the normal rules of offer and acceptance in contracts and saying that until such time as they are satisfied with their checks, the agreement is not binding. So if it didn't become binding upon you signing it, when did it? In my opinion, there would need to be a further document that both parties signed,do you recall recieving such? I would contend that this could equate to a pre-contractual document.

Regards
Andy

Curlyben · 12th December 2007, 12:43

Andy, I completely disagree here.
While you are correct in saying that the terms must be included within the signature document, and in this case they are, your leap to unenforceability ISN'T.

This agreement is just that and as such enforceable !!

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