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Everything posted by spartathisis

  1. Totally agree, but if that was the case there would be no need for overdrafts, small loans, nor the entry of firms like Wonga. It's not going to happen and in reality we all know that. There is no money to be made so they wil all pull out of the market.
  2. The problem witha 'regulated' short term lender going belly up is it will mean folk have to go to folk who aren't regulated.
  3. Woah. Just got a similar notice from Parking Eye. Not Huddersfield is it? Called into Aldi in the evening , but had earlier been to Home Bargains. The pics provided are so dark only the umber plate is recognisable. They state I parked up for 5 1/2 hours. I live 5 minutes away. Appeal letter going in to ask them to check the records, and if the ANPR cameras have been checked and serviced to the manufacturers schedule. I paid cash both times so no receipts or proof, but know many of the staff at Aldi.
  4. The CRA's used the argument that they only report what is given to them by creditors and do not have to do a thorough check on whether they have permission to process. This is of course bull*hit. How can you process data if no permission has been given in the first place. The EU are looking to curb their get out by insisting implied permission and a general we can process data through 'legitimate' interests cannot be used. If there is no CCA available then I would press the OC to stop processing your data and use Grace & Anor v Blackhorse Ltd [2014] and similar cases to put pressure on their reporting to CRA's.
  5. Update time!! Section 10 sent to HSBC, Equifax, Experian and Call Credit regarding HSBC account only, no other data. CRA's very defensive, naturally, but confirmed HSBC had removed all mention of any accounts I had with them (CC & Current Account). HSBC have failed to reply, but as they have removed all references with the CRA's not going to pursue it with them. Checked credit files and nothing untoward showing on any of them. Noddle says I am 4/5 creditworthy!!! I am chalking this up as a success as 18 months ish before SB. 3 months until Cabot biggie (£10k) is SB and RBS & Alliance & Leicester in 6 months, none able to provide an agreement that complies with the CCA. Might apply for a mobile phone contract to start rebuilding my credit up a bit. A big thanks to everyone at CAG for help and advice (inc Brig ). I wish I had found CAG a few years earlier as things would have been so different right now.
  6. So are we saying a court must state an agreement is unenforceable? The get out clause is that they register the default but avoid going to court in case deemed unenforceable. Would the counter claim be to state this kind of action is vexatious as the creditor has no intention of taking it to court? Looking for the arguments creditors will come up with to avoid compliance.
  7. Looks like my pursuit of HSBC may come to fruition: http://www.consumeractiongroup.co.uk/forum/showthread.php?312177-HSBC-no-CCA/page12 1st Credit confirmed they returned the purchased account to HSBC because there was 'no agreement they could take legal action with'. My position is no agreement = no permission to report to CRA's, which is along the line of this judgement from the looks of it.
  8. Permission must be given for any data sharing. If there is no agreement there cannot be any permission to share. It could also be argued that the items purchased were a gift from the credit provider and by paying them they have had unfair enrichment because there was no legal agreement in place.
  9. ims21: Have a look at the links above for basic info. It is all debt unfortunately. 'low level debt' that is worth billions per annum go to this link and open either of the pdf's showing the details on one SPV managed by HSBC.http://www.hsbcnet.com/gbm/securitisation/investor-reports/turquoise.html This thread was started 4 yrs ago and is a good start for pro/con argument on securitisation: http://www.consumeractiongroup.co.uk/forum/showthread.php?244131-Securitization-Discussion I am surprised no ambulance chasing compo firms have latched onto it, the debt is sold to a non credit licensed investment and then the receivables are managed by the selling company, but it has been sold and the seller has received money for it. I have read that the reason so many 0% card balance transfers crop up is because the card company can sell the debt as a SPV to investors. You transfer, they accept your debt and then sell it in chunks, get part of the cash up front and a fee for collecting from you in the future. HMRC don't regard it as a sale for tax purposes so not classed as selling the debt, but I believe that is because the debt/credt market would be a bigger disaster than the last slump if they said Banks etc had sold the debt to unlicensed businesses. It really is a big con and what led to the last financial mess. US investment banks were selling mortgages to folk on welfare, packaging them up and selling as investments, got an up front sum and ongoing fee for managing the account. When folk couldn't pay they took homes off them put them up for sale but no one could afford to buy them and it collapsed. That was the sub-prime bit that is talked about. I am sure there won't be a buy back clause, but once the account is closed and sold how can they then say the agreement covers the return if there is no mention in the agreement? In my case there never was an agreement so doubly annoying.
  10. The big issue around all debt is Securitisation. A minefield that has become harder to find info on in the last couple of years, the banks have deleted info that was previously available. Packaged CC and loan debt sold as a special purpose investment vehicle for institutional investors, and very wealthy individuals. The debt is sold to the special purpose investment vehicle (SPV) and managed by the OC, collections, bad debt etc. I think it is one of the reasons DCA pay minimum % for debts from a OC, they have already previously sold it on to the SPV and can't risk the boat being rocked by asking for too much. The OC does not actually own the debt they chase us for, it has been sold off to investors and they charge a fee to maintain the accounts, plus the initial one off sum for the 'investment'. A good source of info here: http://vinodkothari.com/creditcar/ & here http://www.euromoneyplc.com/images/covers/Asset%20Securitisation%20and%20Synthetic%20Structures%20Innovations%20in%20the%20European%20Credit%20Markets/02Watson.pdf
  11. Thank you Compared it to the most recent from HSBC, a lot has changed in 20 yrs. No mention of repurchasing, but as Brig points out it is probably contained in the debt sale contract between HSBC & whoever buys it. Old and new refer to 'You have agreed by signing this agreement' to let us etc etc. Not much help really. No doubt the debt sale contracts are a closely guarded secret. Think I will: 1 Contact the Data Controller at HSBC (again) with a S10 Objection to processing notice. 2 Contact the CRA's with the same letter 3 Contact the ICO & FCA after the required time to cease processing data is up, 21 days? 4 Open a new Twitter account solely to 'Troll' HSBC and their poor practices in debt sales/collection etc. Had some success with Twitter & business's in the past. Thanks for the help and the comments guys & gals, I will keep the thread updated.
  12. This is what I can't understand, they close the account, tell me they have nothing to do with it anymore and then it can be shipped back to them. Account closed must surely mean they cannot come back for another bite of the cherry? Worse when there is no agreement in place re selling to a 3rd party, having it back etc. Anyone have T & C's from 1996 for a Midland Bank/HSBC Visa card they can post up? I would be interested to see what their conditions of closing an account and reopening it again are.
  13. Away from the CRA questions. No agreement, sold to 1 st Credit and they have 'reassigned' it back to HSBC. How can this be done? What law covers this area? Account defaulted & closed when sold to 1st Credit, with no agreement in place, can't understand how it can then be given back.
  14. CitizenB: Looks to be a similar situation to mine, but mine was mid to late 80's, I know the year & month but won't say in case it gives anyone reading ideas. HSBC state I took out the 'agreement' in 1996, when Access changed to Visa, but I was unemployed and on benefits at that time so am damn sure they would not have granted me a credit card. I opened a current account with them in 1979 and really don't remember signing anything then either, things were done very differently to now.
  15. I think Brig was aiming his comments at me not you Cheers for the positive support. All the good work CAG have done has come about from different ideas and ways to approach a problem from lots of folk, talk of dismissing valid arguments and discussions may put folk off trying to get themselves out of the mire. I was paying out to 7 creditors before I came across CAG. I have paid zero out in over 3 years and 5 years, SB begin after Xmas with HSBC the only one longer than 15 months before becoming SB. Not too concerned with Brig, he helps a lot of folk out with the basic stuff on here, but I feel he can be out of his depth sometimes and resorts to the comments above. Life is too short to bother or to report.
  16. IMS21: Indeed it has rolled on. The HSBC default is the only one showing on my credit file. Some have dropped off due to 6 yrs passing. No litigation from any OC or DCA. Cabot x 2, Robbers Way, A & L, RBS + 1 other to remain nameless have stopped all contact. Some admit no CCA's, others have closed the accounts. All with help from folk on CAG over the years. Yes, within the next 12 months I wish to apply for credit Not progressed as other more urgent and pressing matters have taken precedence. HSBC default off my credit file. I wanted advice from anyone who may have had experience and could offer constructive advice as to the likely outcome and procedure that may follow. Complaining to the regulators is a last resort and I have preferred in the past to just grind them down, in the past it has clearly worked. I once complained to the ICO on MBNA processing my data 10 years after selling the debt on, they judged they were doing nothing wrong.
  17. goodatresearch: Account opened in good faith and repaid on time until a few years ago, HSBC arsey over a query led to me going down the SAR route and realising when and how I opened the account. To be honest never gave it a thought because of all the CC debt that I am alleged to owe I kept HSBC straight because I had a current account with them. Deducting money from account and taking me into a chargeable overdraft was the last straw and hence this thread. Brig: So my quoting the law is my being 'flawed'? I appreciate advice, but when you either don't read what has been posted, or ignore it, it is tiring. Perhaps a change in attitude might avoid rubbing folk up the wrong way and the friction it can cause. If it was my intention to fleece the banks I am sure there are easier ways to do it, but even if that was my intention so what? If a lender is not abiding by the laws laid down, or the rules in place, they deserve everything they can't get back. I have no sympathy whatsoever, the more folk can avoid paying back to either the banks or debt collectors the better in my book. Alloyz1: Thanks for the input on the CRA's. Page 7 of Experian's explanation of what CRA's do: "They can only do this with their customers’ permission. So when a consumer applies for credit, they usually give the lender permission to share information with other lenders through the credit reference agencies. This includes details about the application and about any credit the lender then grants. As a result, the credit account information we hold is simply a copy of the information all the different lenders hold. These lenders update our database each month. " http://www.experian.co.uk/downloads/consumer/creditRefAgencyExplained.pdf It continues to mention credit agreements and how permission is granted when agreements are entered into. This was a recent Appeal case found in Experians favour regarding a duty of care in the accuracy of information they held. Unless notified data is incorrect they cannot be held liable for compensation, but must make every effort to check once notified of problems. http://www.bailii.org/ew/cases/EWCA/Civ/2013/108.html
  18. And people who are trying to help you on here do not need "which part of this don't you understand". A Perhaps it is the constant disbelief from 'Brig' in any post I make that gets on my wick.
  19. Not sure which bit of no agreement exists, nor no contract signed you don't understand. A piece of paper checked against my signature they held on file. Destroyed in front of me afterwards. 'Crusade'? So you condone the CRA's knowingly processing data illegally? Without such 'crusades' CAG would not exist, holding authority to account over their actions and the actions they should be abiding by is not a 'crusade'. Your comments suggest rolling over and accepting illegal activity by banks and other data processors.
  20. The whole point is that the CRA's are processing data without explicit permission. When a contract is signed there are conditions on third party data processors i.e. CRA's, but with no contract & no permission they are breaking the DPA 1998. HSBC insist they have permission, but cannot even state correctly when a card was given, so I still fail to understand how either HSBC or the CRA's can get away with processing my data. They are complicit in illegal data processing, without permission that is what it is, and are in effect damaging my 'good name'. Tongue firmly in cheek there I have informed 1st Credit I will be reporting them to the ICO for processing my data illegally and intend writing to each of the CRA's too. HSBC have been contacted in the past on a number of occasions and they have never replied to a S10 notice, perhaps a more strongly worded notice may achieve more. I am thinking Kpohraror v Woolwich BS & Durkin v HFC/PC World with regard to damage to credit etc.
  21. To process data the data subject must have given permission: The Data Protection Act 1998 (with amendments) Schedule 2 1 The data subject has given his consent to the processing. 2 The processing is necessary— (a) for the performance of a contract to which the data subject is a party, or (b) for the taking of steps at the request of the data subject with a view to entering into a contract. http://www.legislation.gov.uk/ukpga/1998/29/schedule/2 The CRA's surely must confirm permission from the 'lender' if it is brought to their attention, if the 'lender' states permission was obtained then proof must be given?
  22. The question of CC provided with no agreement is one to ask Midland Bank. Not sure why you are surprised, I have read on other forums of folk in the same position. My current account was with Midland and I went in to withdraw some cash and was then asked if i wanted a CC. With no CCA I am not sure whether I did or not, no one stated I had to repay anything, I did but with nothing to say I should have some may argue Unjust Enrichment on their part.
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