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Unenforceable credit / Debt Management Plan - help please
Hi All,
i'm new to this forum and have been reading over some posts and the wealth of info is staggering and i'm hoping somebody can help me with debt that has been wrecking my life for years
I have 2 loans and numerous credit cards that i have defaulted on - i was made redundant 6 odd years ago - and although i had protection, when i started work again i was earning much less & could not afford to keep up payments
I have had a debt management plan with the Consumer Credit Counselling Service for over 5 years now - but the balances are just not coming down
Could this course of action help me? Am i able to persue having a dmp for so long?
If so, where to start? There is so much info here i'm a little confused
Is there a step by step guide anywhere? Or templates of letters I need?
Re: Unenforceable credit / Debt Management Plan - help please
It is incumbent on any creditor to prove the debt. You are within your rights to ask all your creditors to supply a copy of any agreement's they may hold. If you have been on a dmp for over five years, and the debt is not reducing, then there is something sadly wrong. Are you supposed to continue paying for the rest of your life.
You may also find that numerable charges etc have been added to the accounts. Once an agreement has been defaulted, then unless specifically incorporated within any agreements terms and conditions, further interest should not accrue.
Please note: I give advice, in good faith, based on my reading and experience. Please satisfy yourself, that any advice given is accurate in content before acting upon it.
Re: Unenforceable credit / Debt Management Plan - help please
Send all of your creditors (excluding overdrafts) a CCA request link
Note.
Credit Cards are covered by s78 of the act.
Loans are covered by s77 of the act.
So adjust the template to suit.
If the creditors do not respond within fourteen days, or fail to provide a copy with the prescribed terms, then you are within your rights to withold payments.
Please note: I give advice, in good faith, based on my reading and experience. Please satisfy yourself, that any advice given is accurate in content before acting upon it.
Re: Unenforceable credit / Debt Management Plan - help please
OK, i have had my 1st reply from Monument - Customer relations
My scanner is playing up but the following is the exact text from the letter :-
"It is perhaps worth us explaining a little about the Copy of executed agreement section 78(1) requires us to provide you. COPY for the purposes of the CCA does not refer to an EXACT copy of the agreement you signed. We are therefore not required by the CCA to provide you with a photocopy of the agreement showing your signature.
Section 78 requires us to provide you with a copy of your agreement which looks like the one you signed but which has been updated to contain the the terms and conditions which currently apply to your agreement. Importantly, the copy is not required to include your name or signature"
Re: Unenforceable credit / Debt Management Plan - help please
I have had another letter fro Barclaycard this time - advising, by law, they do NOT need to provide me a copy of the SIGNED agreement - and have just sent a photocopy of current terms & conditions of a credit card
Re: Unenforceable credit / Debt Management Plan - help please
If nobody has sent you a CCA as requested then you can firstly put the accounts in dispute and amend to suit and stop any payment if you haven't already done so.
With regards to the signature by all means send them your signature but not your normal one.
I assume you haven't used the new credit card and is it still the same account number? I assume they have just sent you a new one because your old one is out of date.
DG
I have no legal training my knowledge comes from my personal life experiences
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Re: Unenforceable credit / Debt Management Plan - help please
I have not had a credit card with ANYONE for years - i have been on a dmp for over 5 years and have not had or used a credit card for at least that long
1 question - IF i were to accept & use the card - would this start re-building my credit rating???
Re: Unenforceable credit / Debt Management Plan - help please
I doubt it very much as your credit rating will have taken a hammering and will take some considerable time to recover.
Have you checked your credit rating recently its always worth checking you should find that it still shows you on a dmp or an arrangement to pay.
You may find someone would give you credit but it would be at a very high interest rate.
I'm on a dmp and other than 1 default at the moment my credit looks fine until you see all the arrangements to pay and the ones that say on a DMP. So the chances of me getting credit is NIL.
I do have a very small BC which I pay religiously every month that shows a good credit rating but as I said the rest is lousy.
DG
I have no legal training my knowledge comes from my personal life experiences
Please help keep the forum alive by making a donation
If you are asked to deal with any matter via private message, PLEASE report it.
Everything I say is opinion only. If you are unsure on any advice given, you should see a qualified solicitor
Re: Unenforceable credit / Debt Management Plan - help please
Originally Posted by Garfs
Section 78 requires us to provide you with a copy of your agreement which looks like the one you signed but which has been updated to contain the the terms and conditions which currently apply to your agreement. Importantly, the copy is not required to include your name or signature"
Surely this cant be right? Could anyone advise
Garfs, I have arrived here from your more recent thread, and I have to say this nearly made me fall off my chair laughing. I guess from what you say on that other thread you are some way further on with Monument now.
Of the various agreements of mine that I made a CCA1974 request for, I always took this long winded waffle response to mean "we haven't got it", after all it must be far easier to send a photocopy that write all that. However specifically what they said there is rubbish. The regulations do allow them to send a reconstruction of the agreement in response to a s.77-79 request, and it can omit the signature and certain other details, however it must be materially the same in all the other details, including the terms and conditions. If the terms and conditions have changed since the date of the agreement they are also required to send you a copy of those currently in force.
Unenforceable credit / Debt Management Plan - help please
6 odd years ago - and although i had protection, when i started work again i was earning much less & could not afford to keep up payments
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Originally Posted by Garfs
