Marc Gander - The Consumer Survival Handbook


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  1. #1

    Default Unenforceable Credit Card/Loan Agreements

    Hello,

    Are there any subscribers out there who have any experience of the suggested loopholes in the consumer crediticon Act that allow for debt to be written off and in some cases even refunds of past payments.

    There are a number of firms offering this service (for quite hefty fees). Do they work? Is it a [problem]?

    Tony.

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  2. #2

    Default Re: Unenforceable Credit Card/Loan Agreements

    The general consensus is that [a] they give no guarantees, and [b] they don't do anything you couldn't do yourself after a little research.

    The expression you use 'written off' is one that you probably won't find as such on their websites. The consumer crediticon Act (CCA) specifies a number of points that must be included in a credit agreement for the agreement to be compliant. In days gone by many lenders (banks, finance companies and credit card companies) issued agreements that did not properly comply with the CCA. These are not 'loopholes' in the Act but rather lenders not properly complying with it.

    If an agreement is not compliant then it becomes unenforceable - the lender cannot enforce repayment through the court but you still owe the money. However, in practice any lender who cannot enforce repayment is going to write the debt off, if for no other reason than it is deductible for tax purposes.

    In determining whether an agreement is compliant some lenders are able to convince the courts that any minor infractions are immaterial to the agreement as a whole. Hence it is a dangerous road to go down if you try and guarantee that any deficiency is enough for the agreement as a whole to be inadmissable in court. That's why these firms you refer to don't offer guarantees (other than they will take your money). It might be worth asking if they will work on commission.

    I really do appreciate all those 'thank you' emails - I'm glad I've been able to help. Apologies if I haven't acknowledged all of them.
    You can also ding my gong if you prefer.
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  3. #3

    Default Re: Unenforceable Credit Card/Loan Agreements

    i have paid £495 to one of these firms, sent £1 etc for copy of agreement - default notice issued by credit card co. - expired last week and apparently I don't have to worry !! I just have to see what happens next.


  4. #4

    Default Re: Unenforceable Credit Card/Loan Agreements

    Tony. I am new to this consumer forum and have sent a reply to you. Do you have it ?


  5. #5

    Default Re: Unenforceable Credit Card/Loan Agreements

    Hello Hopster,

    Yes I got your reply - thanks very much.

    Please keep me posted. I will be very interested to see how you get on.

    I'm chatting to an organisation called Credit Clear. I'm very tempted...

    Regards,


    Tony.


  6. #6

    Default Re: Unenforceable Credit Card/Loan Agreements

    Credit clear. £495 for the first then £295 thereafter ? Is that the same firm ? Have you thought of asking them for a reference ? I will be most interested if you speak to a happy client of theirs. Let's keep in close touch.


  7. #7

    Default Re: Unenforceable Credit Card/Loan Agreements

    They've just reduced their charges to £295.00 per case across the board. I asked if they could provide references but they pointed out that as they only really started in April, the cases they're dealing with are only now just starting to come to fruition. They also (correctly I assume) that data protection regs would prevent them from offering out their customer details etc.

    Their website is slick and they appear professional. They have Ministry of Justice authorisation and OFT registration. They are very friendly on the phone.

    The suggestion on these forums is that you could do it yourself. Anyone could do a CCA and get their agreement sent to them, however you really do need an expert to decide if the breaches are strong enough to force a lender into capitulation.

    I've got several potential agreements that could benefit from scrutiny. May try them with one initially and see what happens.

    Tony.


  8. #8

    Default Re: Unenforceable Credit Card/Loan Agreements

    Yes that's them. I have spoken to them. Why have they reduced their fees I wonder. They were definitely £495 for the first. I am trying out another firm and they are going to have to perform soon - default notice already expired - not to worry I am told. I will keep you posted. We could try out one together, absolutely in harness so to speak. What do you think ?


  9. #9

    Default Re: Unenforceable Credit Card/Loan Agreements

    What firm are you trying out?


  10. #10

    Default Re: Unenforceable Credit Card/Loan Agreements

    I will tell you later but the c/c is Egg. I am lining up halifaxicon for them next - in fact I have already sent them the c/c agreement for which paid £1 (usual form)- but I have not paid them to take it further - yet. I have suggested that I pay them monthly in three parts and they do not seem averse to this. It is beginning to sound too easy and very cheap. Where are you ? I think that we might try one together and do it ourselves. We have the templates of the required letters and there seems to be help at hand here in the Forum. Which credit cards do you want looked at ?


  11. #11

    Default Re: Unenforceable Credit Card/Loan Agreements

    Anyone heard of Ethos Bank Credit Clear Services ?


  12. #12

    Default Re: Unenforceable Credit Card/Loan Agreements

    They have OFT registration ?

    The Office of Fair Trading: Claims regulator and OFT issue consumer alert

    I notice the link they give at the bottom of their main page is non existant...

    PLEASE NOTE - I am not a legal expert, what is stated is my own opinion and from what I have learnt from this forum and my own experiences.

    DEBT COLLECTION LETTER/SAR/AGREEMENT TEMPLATES ARE HERE - http://www.consumeractiongroup.co.uk...65-legislation

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    IMPORTANT - If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.
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  13. #13

    Unhappy Re: Unenforceable Credit Card/Loan Agreements

    spottydog246

    Hi all,
    I have been reading the post s about the loans and credit cards be unenfocreable and have some questions.
    1 Iam on a debt management plan am i still able to chalange these loans/cc.
    2.What are the time lenths involved with the requests.
    3.If an agreement is wrong when do you stop paying for it.
    4.Do i have inform the dmp company of what i am doing or will the companies do that.
    5.Are there standard letters on the site that i could use.
    would be extremely grateful for any help or advice that could be given to me as dmp is currently about 22 yrs


  14. #14

    Default Re: Unenforceable Credit Card/Loan Agreements

    i have sent a CCA Requesticon to all on my creditors now. Only 1 replied with the original true signed copy (egg), a letter from moorcroft re lloyds tsb loan saying that they didn't have the agreement for me yet, and the accound is on hold, a prompt default letter from capital one, and nothing yet from the other 3. I sent off another letter yesterday to follow up... I am cancelling all my payments to them now... i got nothing to lose so....

    I had heard of these companis before asking for £495 + 295 there after, and guessed that they may just be doing this....


  15. #15

    Default Re: Unenforceable Credit Card/Loan Agreements

    hiya guys

    i had a leaflet drop these companies are popping up all over now, but be careful they charge upfront fees and its not guarranteed, i gave my leaflet to the trading standards team i visited to get them to view my cca id already requested myself, they were going to pass onto another team who are investigating these companies,

    if the cca is enforceable, you will have paid that amount of money for what??//

    i dont know up to you but im guessing depends how much you have on each account does it make it worth it?

    im not too sure im going via the advice here and im already challenging all and got 3 to the fosicon for further clarification and complaint

    take care ciao maz


  16. #16

    Smile Re: Unenforceable Credit Card/Loan Agreements

    Good morning,

    Might I add all you read here is true, if the loan, credit card or hpicon was before 06/04/07 then the chance the bank holds the originonal agreement is very slim. There are at least 33 million credit cards in circulation, how many people do the banks need to employ?

    Deed of Assignmant is as discribed, debt is sold in bundles of 1000's do you think for one second the banks bother to complete the paper work.

    Look at the rules on CCJ challenge everything!

    One point though if you were sent a document how would you know if it was legal? I have seen documents dated 2009 claiming to be "origionals" you will need advice one firm who does supply legal advice in this area is Guardian/Credit issues, I suggest you Google their web site.


  17. #17

    Default Re: Unenforceable Credit Card/Loan Agreements

    Help needed I am currently strugling financially and have reed info on unenforcable CCA i need help am in payment plans etc one company defaulted me others threatened it and with another one even though have been paying set amount every month by standing order and the amount now should be aprox 600 pounds the figure is actually double plus few pounds.

    the companys in particuler are
    1. Allience and Liecester loan for £9400 was charged interest on this and over £2000 PPIicon which i have never been able to claim stand at aprox £4000 have paid £50 per month.

    2. Morgan stanley Card became goldfish now BC platinum orig credit card limit 2800 now down to about 2500 payment protection orig on card had this stoped years ago

    3.Barclay Card Gold stood at over 4000 with charges ppi etc down to 2900 aprox pay £38 payment plan strugling mind have not paid yet this month.

    4. Egg card 6000 or there abouts orig sold to CSL have paid this DCAicon upto 70 per month not paid last couple of months problems with cash flow...

    5. Marbles card pay 12.50 p month fixed payment plan belive maxed out card £800 plus fees and charges reaced aprox £450 have paid this figure since March 2005 so will of paid in excess of £600 but balance stands at £1239 supposed to be intrest free no late charges etc company who have taken over marbles are investigating and they lost my last payment too

    6 Capital 1 not bothered about this as owe less then £200 and this does come down lowest owed these in last 12 months was £10.00

    I had load for goods years ago but paid this off and i did pay ppi which i could not use


    Any help would be gratfully recived


  18. #18

    Default Re: Unenforceable Credit Card/Loan Agreements

    Please read above make contact with Guardian/Credit issues they will help or do it yourself.


  19. #19

    Default Re: Unenforceable Credit Card/Loan Agreements

    hi all , am reading this thread withinterest.

    iowe nationwide abpprox 10k on a loan.
    if we sent off for this lette rand they fail to respond in the time limit, im confused to how the debt becomes un enforceable, yet we still owe them the money.

    for clarifcations sake, and befor emyself and wife go for this...

    if we do still owen them the money - where does this show up? would it still show on credit ref agenceies as an unpaid debt and we still owe £10k, but the bank cannot legally persue us through the courts, and we cannot have our home repososed or anything liek that? (or worse they put some judgement against our name worsending our credit score?)

    so is it like a stalemate? we still owe them, but we stop payign them, they cannot peruse us, and essentially myself and wife are £297pm better off each month ; )

    have i understood this correctly?

    appreciate any feedback.

    thanks

    P

    sucessfully reclaimed against the following in last 4 yrs (thanks to you all and this site) :-
    HSBC x 2 accounts,
    CAPITAL ONE c/card x 2 accounts
    LLOYDS TSB (loan and account charges)
    BLACKHORSE FINANCE (2 x loans)
    PPI insurance (3 x loans)

    Currently Persuing:-
    BARCLAYS PARTNER FINANCE - HP
    CAPITAL ONE - AGAIN! (CCA/DEFAULT/plus charges!)
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  20. #20

    Default Re: Unenforceable Credit Card/Loan Agreements

    I may be wrong and there areseriouslt better informed caggers on thisc site but I understand that the consumer crediticon Act applies only to credit card debts and not loans and overdrafts. Someone please correct me if I am wrong.


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