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Bank loan and CCA request.


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I recently asked a DCA for a CCA request on a bank loan, the reply from the dca went as follows,

"We are in reciept of your request for a copy of the executed credit agreement in accordance with Section 78 of the consumer credit act 1974.

The agreement to which you seek is not a regulated consumer credit agreement and is not governed by by the terms of the above act"

 

Is the DCA correct ?

 

I also asked them to produce the deed of transfer as they said they had bought this debt from HSBC, they made no mention of this in their reply as well as not mentioning that i had also informed them that the debt was in legal dispute at their time of "purchase".

 

Any help would be appreciated.

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Well s77 covers fixed sum were as s78 covers variable sums, such as credit cards and the like s79 is for hire purchase.

As this account is already in dispute with the bank then they shouldn't be chasing it anyway.

 

try them with this:

 

Formal Complaint

 

Dear Sir/Madam,

 

I refer to your recent letter and/or telephone calls, the contents of which are noted.

 

As holders of a Consumer Credit Licence you are obliged to comply with the Office of Fair Trading Guidelines on Debt Collection. I would therefore be obliged if you would provide me with an explanation as to why you are attempting to collect on an alleged debt which was disputed with BANK NAME prior to your first contact with me, and has yet to be resolved.

Since this is considered an unfair practice and contrary to the OFT guidelines, you should consider this letter as a formal complaint, and provide me with a copy of your complaint resolution procedure.

I also require you to confirm that you will now comply with the OFT guidelines, and will not attempt any further collection activity whilst the dispute is unresolved.

 

Should you fail to provide me with the required undertaking within 7 days, I shall report your breach of the OFT guidelines to Trading Standards and complain to the Financial Ombudsman Service.

 

Take notice that I will not discuss this matter on the telephone, and all further communication must be in writing. Any further telephone calls will be perceived as harassment, and dealt with accordingly.

 

I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you would prefer to do this than merely respond with standard letters and leaflets.

 

I would appreciate your due diligence in this matter.

 

I look forward to hearing from you in writing.

 

Yours faithfully

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Thanks again and great letter which i will use with this DCA company, do you think as the loan was in dispute when the DCA took "it over" that I actually dont need a CCA and transfer of deed from them at this point in time as i just want them off my back while I am legally dealing with HSBC ?

IT IS MINE !!!!!!!!

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do you think as the loan was in dispute when the DCA took "it over"

If this is the case bring Trading Standards into the equation as they are breaching both The Banking Code and The OFT Guidelines on Debt Collection Practises, both covering disputed accounts.

 

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It would be nice to know what type of "loan" it was... i.e. £XXXXX at xx% interest rate, fixed over ... years.

 

Was it secured? unsecured?

 

when was it made?

 

Was it credit card, overdraft, business debt, etc?

 

not all debts are regulated by the CCA.

i will be off site for the next month or so. if you have any problems, feel free to report the post so a moderator can help you.

 

I am not a qualified or practicing lawyer.

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Hi tomtern

 

It was HSBC unsecured loan, about three years old. Standard interest rate at the time and variable.

 

I started to struggle with payments a couple of years ago and HSBC declined my reduced offer of £100 per month, HSBC then used Metropolitan CS (part of HSBC group ) and I agreed with them to pay them less than I offered HSBC.

 

Then a few months later Metropolitan sent a letter demanding higher repayments, at this point I started a legal battle with HSBC on three fronts which included bank charges which they paid up on quite quick.

 

During the three legal disputes I had outstanding with HSBC Metropolitan did not contact me again as I told them I would only deal with HSBC.

 

Now some months later whilst I am still in dispute with HSBC on two other matters they informed me they had sold the "debt" on to Lowell financial.

 

Has HSBC and Lowell financial broken the OFT guidlines on debt collection as my loan was in dispute at the time when the debt was sold on ?

 

I have just read the OFT debt collection guidlines and article 2.8 part i states,

 

"failing to investigate and/or provide details as appropriate, when a debt is queried or disputed,possiblyresulting in debtors being wrongly persued"

 

Article 2.8 part k states,

 

"not ceasing collection activity whilst investigating a reasonably queried or disputed debt"

 

I think it is time I reminded HSBC and Lowell financial of these rules they have both broken.

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If your loan is for £25,000 and over then it is not regulated by the consumer credit act, having said that anything 25k and over would generally fall under secured.

 

How much was your loan for thats the crucial quetion.

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Loan was 22k, outstanding at time of dispute about 21k.

 

Was the loan a personal loan, or was it taken out as a business loan?

i will be off site for the next month or so. if you have any problems, feel free to report the post so a moderator can help you.

 

I am not a qualified or practicing lawyer.

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OK. sorry to be such a pain. Just checking all the permutations.

 

The debt is regulated. if they have said the debt was unregulated in writing, then I would suggest that you make a formal complaint to the FOS, trading standards, and OFT.

i will be off site for the next month or so. if you have any problems, feel free to report the post so a moderator can help you.

 

I am not a qualified or practicing lawyer.

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Thanks tom, I think I have the info I need to send them a nice letter, should I send one to HSBC about them selling an account in dispute ?

 

You can if you want. Just don't sign the letter. Personally, i would start the ball rolling with a formal complaint that they have misled you over the status of the loan (regulated, non-regulated) and bump the complaint up to the FOS.

i will be off site for the next month or so. if you have any problems, feel free to report the post so a moderator can help you.

 

I am not a qualified or practicing lawyer.

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  • 10 months later...

Well I did formal complaints to Lowells and they would not pay the money I paid to them under duress ( as they were calling my phone ten times a day so I agreed a payment plan to get them off my back until I discovered that debts in dispute should not be collected on according to the OFT, then I stopped paying them any more and I changed my phone number)

So then I tried county court to reclaim what I had paid Lowells, but the judge dismissed my case today and he was not interested in the OFT guide on debt collection so now I will report Lowell to the OFT for breaking the guidelines, hope they can help me.

IT IS MINE !!!!!!!!

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