Hi

Apologies if I posted this in wrong section.

I sent a CCA request on behalf of my friend. This loan is in reference to M&S personal reserve account where they gave you a chequebook so you only borrowed what you actually needed. This type of loan does not have any CCA agreement. Please see attached reply from Arrow Global. What is the next course of action? Appreciate your help as usual.

Thanks you.

Well heres the thing, If it is a bank account and is being regulated as if it is an Overdraft, then I would say that they are correct. The key word here is whether it was a "Loan"... Sounds like an Overdraft to me.

Well SAR M&S and see what you get back . Could be rife with charges possibly (Although you might not beable to claim them back)

Well heres the thing, If it is a bank account and is being regulated as if it is an Overdraft, then I would say that they are correct. The key word here is whether it was a "Loan"... Sounds like an Overdraft to me.

Well SAR M&S and see what you get back . Could be rife with charges possibly (Although you might not beable to claim them back)

M&S supplied him chqbook worth £3000 and he would write a cheque to himself whenever/whatever amount. He had no bank account or credit card with M&S. Not sure if this classes as Loan.

Arh... Well We need to see the Agreement that was laid out. A SAR might be the best way to get this from M&S

Hi,

Re : the overdraft or not question, I too had a personal reserve account many years ago, and after reading this thread I thought I'd have a look on the internet as I thought is was covered under CCA and not an overdraft.

I searched for 'marks spencer personal reserve CCA', and was linked to another site on which someone had put an image of their personal reserve CCA agreement.

Upon looking at this, it seems to me that it is covered under CCA etc, maybe you could have a look yourself as I don't think I can put the link to the other website in this post.

Also I found a website which said the personal reserve account was a flexi-loan account, I'm not sure if the other more experience members hear know a little more about flex-loans and wether they fall under CCA or not.

I hope this info helps.

Me_too

if they offered credit it will be covered by the CCA and an agreement would have been signed.

dx