cca request?

[kezza150]

Hi - just a quick question,

 

Does a student bank overdraft/account come under the cca? I've found conflicting answers to this on other posts

 

Being sent letters from lowell/red collections about my old student account but not sure if i can send a cca request to them or not. Just got a feeling i will get the 'this does not fall under the cc agreement' response if you know what i mean.

 

Thank you in advance,

Kez x

[Weird Al Yankovic]

Can't see why it doesn't. An overdraft is lending and rules must be followed.

[rory32]

Overdrafts have part V (form and content) exemptions from the Act, this however does not mean that they are fully exempt (as some DCA's would have you believe). The copy of the agreement would simply be in the form of a letter from the bank stating the amount of credit, the APR, charges and cancellation rights.

[Edz11]

There is a list of situations in the CCA here;

Consumer Credit Act 1974 (c. 39) - Statute Law Database

yours would appear to be an example 23 one.

[kezza150]

Thank you all for the replies.

So yes it would come under a cca (running credit) so should i have had to sign something agreeing to the conditions???

If the dca provides me with a copy of a simple letter/leaflet stating conditions (interest charges etc.) but which is unsigned by me - is this still valid? i.e. have they produced what is needed to satisfy my cca request.

 

kez x

[rory32]

so should i have had to sign something agreeing to the conditions???

 

No, as previously stated they have part V exemption. The agreement would be the letter fom the bank bank stating the amount of credit, the APR, charges and cancellation rights.