Thread: Egg Card - CA

Hi
I should go and blank out all your personal details on the forms you have posted.


barns66

Whoops!
Have amended scans. Thanks.
Any help appreciated.

Hi the nam, there are still identifiable items on there-the writing at the top -is that your refernce or their reference number, and the fax code at the top of each page-inless that`s not related to you in any way.

We `re not being picky, just that Egg and other companies do read these posts and you will not want egg to see what you may be personally concerned about-they have used posts in court.


In the meantime, your agreement does have some issues regarding it`s execution and possible enforceability.

Thanks lollipop! Have amended the scan, fax number is their's... Very tired and didn't check properly!
I'm concerned about taking action on this by myself and I'm thinking about getting it check with a solicitor but I wanted to check to see if you lovely lot thought it was unenforcable first
Also I've read bits about Egg cancelling cards and it not being right... Mine was cancelled last year and I'm paying off monthly still, is this a concern?
Thanks in advance!

Hello nam,
Welcome to CAG
Not sure about the cancelling of the card, but i can agree with Lolli about the execution and enforcability of it.
This is concerning the limit section.
Egg word is as approved limit, when in actual fact it should state "credit limit" as this is a prescribed term.
This means the agreement has not been executed properly and that it's unenforcable.
Which is the same position that i'm in too
Livis xx

Thanks Livis,
What should be my next steps then? I've had a look around and realise a few people are in the same boat!

thanks

More particularly, after yet another evening spent reading regs and the like, and to be absolutely precise-the section no3 on the agreement is subheaded-"limit"..........it then goes on to mention approved limit etc etc.

The "limit" subheading is what I think is the exact issue, and the description of "approved" could mean anything whatsoever as per response to cca letter thread of cosalts.

I now also raise the question regarding a regulation ( and can`t for the moment find it) that stipulates that the t&cs must be in a form that isn`t what is commonly known as "small print" or be disguised or made less available to the customer in anyway. Does that mean that because I received a screen dump of a myriad of t&cs from different time periods to mine that Egg have wilfully breached that reg too in sending so much irrelevant rubbish to me when I made a simple request? hmmmmmmmmmm need further advice.

I'm very worried about dealing with this myself, but I don't want to pay out loads in solicitors fees! Has anyone gone through a solicitor for this sort of thing?
Also if it isn't enforceable what is my next step?

I am in the exact same boat nam so take courage, you aren`t the first to go down this road-I`m not either.

By my reckoning you need to send a letter of dispute as the next step There are templates on the Egg forum-see cosalts response to our cca request.

You can obviously go to one of these companies that will do it all for you, they will charge you and if they fail you are still liable. If you do it and fail then you will have at least saved the cost of paying these people. If you do it and win then you reap the rewards all to yourself too.


Have you had a chance to have a read round the forum ( if you have you`re faster than I am)? There seems to be a general consensus that hundreds of thousands of loan agreements are being called into question and that it although it will require you to become acquainted with the consumer credit act and it`s associated regs-you do need to know what you are dealing with, it can be done by individuals.


Failing all else you can go to the CCCS-consumer credit counselling service who can liase with the companies on your behalf-but their prime motive is to get you paying the debts not disputing them.



At the end of the day, you and you alone must face the consequences good and bad of any decision you take.

Thanks Lollipop!
I'm still deciding what the best course of action for me personally is! I've read your thread with interest and wondered if you could possibly let me see what letter you sent in response to the CCA as mine is very similar to yours.
Thanks very much.

PM`d it to you Nam

The agreement you have there does not comply with Schedule 6 para 3 of SI 1983/1553

Quote:
A term stating the credit limit or the manner in which it will be determined or that there is no credit limit
Now the CCA 1974 sets out what "Credit" is at section 9
Quote:
Meaning of credit.9. — (1)

In this Act “credit ” includes a cash loan, and any other form of financial accommodation.
Now the act defines credit, the prescribed term required refers to Credit so it stands to reason that in this case the word Limit does not suffice

this is the opinion given by a barrister who was senior counsel in Wilson and Hurstanger
___________

So it's not enforcable?

Originally Posted by cds

The agreement you have there does not comply with Schedule 6 para 3 of SI 1983/1553

Quote:
A term stating the credit limit or the manner in which it will be determined or that there is no credit limit
Now the CCA 1974 sets out what "Credit" is at section 9
Quote:
Meaning of credit.9. — (1)

In this Act “credit ” includes a cash loan, and any other form of financial accommodation.
Now the act defines credit, the prescribed term required refers to Credit so it stands to reason that in this case the word Limit does not suffice

this is the opinion given by a barrister who was senior counsel in Wilson and Hurstanger
___________

I've been banging on about this in another thread, but would your barrister consider the lack of the term 'variable' (in relation to the APR) and the lack of any 'charges' Breakdown to be significant?

See CC (Agreements) Regs 1983 [2 Form and content of regulated consumer credit agreements] 6(b) and Schedule 1, section 22 (1).