Mbna!

[Alchymist]

I have an interesting question regarding reclaiming PPI. I have been looking through the response I received from MBNA with regard to my S.A.R - (Subject Access Request) (after a certain amount of procrastination -owing to heavy work and study commitments, not enough hours in the day!)

I requested specifically that they send copies of all documents, including ALL contracts that they believe to exist between myself and their company. All they have sent in this regard, is a copy of the application form. There is nothing resembling a CCA with prescribed terms (this is a credit card account -btw). The application form has only my signature -no interest rate, repayment dates or terms, or credit limit is/are stated.

Does this mean the agreement is unenforceable? I have tried to find a definitive answer on the forum, but I'm still not sure.

MBNA have just charged me £12, because my last payment was a whole FIVE PENCE short of the minimum payment (-the credit crunch must be hitting them hard ). This has galvanised me into action -as I am now very annoyed.

Am I right in thinking that if the debt is unenforceable, this gives considerable weight to my case for reclaiming PPI? Can I mention this in my preliminary letter?

Any advice would be much appreciated.

[hellhasnofury]

Originally Posted by Alchymist

I have an interesting question regarding reclaiming PPI. I have been looking through the response I received from MBNA with regard to my S.A.R - (Subject Access Request) (after a certain amount of procrastination -owing to heavy work and study commitments, not enough hours in the day!)

I requested specifically that they send copies of all documents, including ALL contracts that they believe to exist between myself and their company. All they have sent in this regard, is a copy of the application form. There is nothing resembling a CCA with prescribed terms (this is a credit card account -btw). The application form has only my signature -no interest rate, repayment dates or terms, or credit limit is/are stated.

Does this mean the agreement is unenforceable? I have tried to find a definitive answer on the forum, but I'm still not sure.

MBNA have just charged me £12, because my last payment was a whole FIVE PENCE short of the minimum payment (-the credit crunch must be hitting them hard ). This has galvanised me into action -as I am now very annoyed.

Am I right in thinking that if the debt is unenforceable, this gives considerable weight to my case for reclaiming PPI? Can I mention this in my preliminary letter?

Any advice would be much appreciated.

Hello Alchymist,

Wow, you actually received something from MBNA It sounds like a pre-contractual application form

I am not an expert on the Consumer Credit act 1974, but I know enough that a credit agreement must contain the prescribed terms.

The information comes under section 60(1) and section61(1) of the act and also under the Consumer Credt (Agreement) regulations 1983

S.60 Form and content of agreements
(1) The Secretary of State shall make regulations as to the form and content of documents embodying regulated agreements, and the regulations shall contain such provisions as appear to him appropriate with a view to ensuring that the debtor or hirer is made aware of—
(a) the rights and duties conferred or imposed on him by the agreement,
(b) the amount and rate of the total charge for credit (in the case of a consumer credit agreement),
(c) the protection and remedies available to him under this Act, and
(d) any other matters which, in the opinion of the Secretary of State, it is desirable for him to know about in connection with the agreement.
(2) Regulations under subsection (1) may in particular—
(a) require specified information to be included in the prescribed manner in documents, and other specified material to be excluded;
(b) contain requirements to ensure that specified information is clearly brought to the attention of the debtor or hirer, and that one part of a document is not given insufficient or excessive prominence compared with another.

S.61 Signing of agreement
(1) A regulated agreement is not properly executed unless—
(a) a document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60(1) is signed in the prescribed manner both by the debtor or hirer and by or on behalf of the creditor or owner, and
(b) the document embodies all the terms of the agreement, other than implied terms, and
(c) the document is, when presented or sent to the debtor or hirer for signature, in such a state that all its terms are readily legible.

the Consumer Credit (Agreements) Regulations 1983, namely:
(a) the rights and duties conferred or imposed on him by the agreement,
(b) the amount and rate of the total charge for credit,
(c) the protection and remedies available to him under this Act.

I certainly would be mentioning this in my letter asking for my refund of ppi