Thread: please advise

Is it correct that banks are not allowed to default accounts that are in dispute?

If this is correct does anyone know where i can obtain the info regarding this and any letter templates which anyone thinks would be of use would be gratefully recieved.

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I am 100% certain that you cannot be defaulted whilst the account is in dispute. What kind of account is it? Credit card?

Send this letter first.
The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG

Dear Sir/Madam

Re:− Account/Reference Number 4563210025897412

PLEASE NOTE THAT I DO NOT AGREE WITH THE AMOUNT OWING UNDER THIS AGREEMENT. PLEASE UPDATE YOUR RECORDS TO SHOW THIS ACCOUNT AS 'IN DISPUTE'.

I will not correspond further on this matter until you have provided the following documents.


We understand that under the Consumer Credit Act 1974 (Sections 77−79), we are entitled to receive a copy of our credit agreement on request. We enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act.

We understand a copy of our credit agreement should be supplied within 12 working days.

We understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.

We look forward to hearing from you.

Yours faithfully
Mr A N Other

They have 12 days to produce this information. After 12 days the agreement is unenforceable until they produce the agreement. After one month the agreement is unenforceable without court action.

I can't remember which Act prevents banks from defaulting accounts in dispute but I'll have alook and see if I can find it.

Section 13.6 of the Banking Code:

13.6

We may give information to credit reference agencies

about the personal debts you owe us if:
• you have fallen behind with your payments;
• the amount owed is not in dispute; and
• you have not made proposals we are satisfied with
for repaying your debt, following our formal demand.