Thread: co-op asking for all monies back 'now'

Had thought that banks etc could only demand the whole total outstanding (credit card) if they had defaulted you in usual manner ie sending of default notice and it not being adhered to?

Co-op sent me letter saying that I had broken agreement and basically they wanted full amount within 7 days (or maybe they said 14....) They then say £60 admin costs been added to my account!!

the account is one month overdue only......... not defaulted, No default letter.

Hmm I'm in a similar position, the thing is they have terminated my account whilst their being in receipt of a "Account in Dispute" letter from myself for not supplying a CCA within the timescale, where do I stand on this?

today the C*apital One send me a letter stating I have to phone them within 7 days etc etc otherwise they 'MAY' be setting some debt collectors on me.

They ignore any complaints letters sent and are now starting to really use aggressive collection practices. They are now enemy no 1.

Am still awaiting fos adjudicator and ICO to investigate complaints - they are piling up.

Adjudicator now all sorted and complaint about to be 'investigated'.......

any other advice on a letter stating 'pay us everything' when they have not defaulted you? Is this not 'taboo' or a major 'faux-pas' on their part? (Cannot find thread which seemed to imply this was a mistake on part of credit card company)

any advice / recap on laws etc?

just check that what they are demanding is not just arears- they have to issue DN and then terminate the agreement and the whole becomes due only after you have failed to comply by the stated date- some of them confuse the issue by saying the MAY take action after the deadline so you need to wait until they actually send you a written demand for the whole lot then they will find it hard to claim that they have not terminated

quite often the cock up the DN

Can I just 'up' this as I believe they are now up to something!!?

The actual letter stated:

We the Co-op Bank of ....Manchester hereby demand immediate payment of the sum of (lots!!) being the balance due to us in our books. The said sum includes interest to the close of today's business and interest continues to accrue there on until repayment'

(that bit above was in bold)

'Under the current Conditions of Use .. blah .. your agreement with the Bank has been terminated. etc waffle cards return etc.

In the absence of payment or a satisfactory response, the account will be transferred to the Bank's Head Office etc .. which may include the issue of Court proceedings by our solicitors. If you are unable to pay the full balance (!!) within 14 days or we do not receive satisfactory response, your name may be given DCA etc - recorded as defaulting debtor... etc

Blah CRAs difficulty getting money etc waffle

Administration costs of £60 have been debited to your account

Contact us immediately etc'

So that was BEFORE any default notice or any DEFAULT.

I wrote to complain and they ignored me.....

Can I just confirm that this is not acceptable? They stated that they had terminated the agreement but not defaulted me!! They asked for ALL the debt back and I was not in default.

Could any kind soul please guide me to the relevant legislation which might protect me from their next venemous attack. I believe they last threatened me with a default which should have happened last week (not checked).

Can they default me if they have terminated the agreement before defaulting me - does that make sense?

Is this a clear-cut case of them messing up or is it all gray and 'who knows'?

HELP?!

My Understanding Is A Creditor Can Terminate An Account At Any Time.

Any Money Outstanding Is Then Repaid As To The Original Agreement.

It Just Means You Get No More Credit.

With A Credit Card, You Just Make The Normal Monthly Payments.

They Cant Default You Unless You Ignore A Default Notice

Wait For More Replies This Is My Own Opinion From What I Have Read

well i think it may be your lucky day-

they have confirmed that the agreement has been terminated

you need a SAR which will show you if a DN had been issued- if so you want a copy of it

until you get this information you are best just repeating that the debt is in default on their part

if they have terminated without a DN ( or with a defective one) you are going to be looking pretty good


IMO there is no need to make ANY payments if they have terminated the agreement in these circumstances

nor can they now re instate the agreement

you might need to confirm with some of the site team but from what you say it looks pretty good for you

p.s. they cant add anything to your account in my opinion because your account no longer exists!

Can the Co-op:

terminate the account THEN send a default notice some months later and THEN default the account??

I had assumed they had defaulted me but the fos in their final judgment said how nice co-op had been in not doing so whilst they 'investigated'.

Now I'm guessing the co-op will be chasing big time as the credit card debt is quite a big one I now need to get this account in order and back in my head after many months of nothing happening.

Also is a letter from co-op to say account 'is' terminated enough to prove termination or is something else supposed to happen??

yes, of course they can (silly billies) but they have unlawfully terminated it and therefore you need not worry about getting the account in order as according to the information you have given, it no longer exists

why don't you post up the letters

any clues as to what to expect next from Co-operative.. does their next stage depend on amount of debt??? Which DCAs do they use?

they hadn't defaulted me it seems but sent another default notice dated 8 December (to pay by 22.12.09!?) and letter dated 23rd stating they had terminated my account.

How many times are they allowed to terminate an account? Can they 'un'terminate an account willynilly???

Am I right to assume that 22nd was not correct date for the DN 'date' and so letter dated 23rd terminating is also incorrect?

Any links to the relevant case law / paragraph appreciated here as have new printer that works (!) and attempting to print relevant legal jargon for these letters from OCs and DCAs as it can get extremely confusing!!

once the account is unlawfully terminated (demanding the whole of the outstanding balance of the account, having not first served an effective default notice would constitute unlawful termination), it is, surpise surprise .....terminated.

as john cleese would say

it is no more

it has gone to that great agreement graveyard in the sky

it has expired

it is an ex agreement

it is totally irrelevant how many dn;s they issue after the termination or if they are correct or not since there is no agreement left against which to issue them.

an agreement which was unlawfully terminated and accepted as such by you cannot be unilaterally resurrected-( not even by god- so don't go looking to see if the body has dissapeared!!)

here endeth this mornings lesson

the vicar for next week will be hung on the notice board!

now I've read elsewhere that it is important to have written to accept their unlawful repudiation ie termination. Is this advisable or essential and is it a legal thing?

Also which termination whould be accepted and can it be done 'afterwrds?'

basically you need to do some thing which demonstrates that you have accepted the unlawful act rather than ignored it and intend that the other side continues to honour the agreement

what simpler way that to write and say so?

the sooner the better