Unenforceable Credit Agreement?

[platinumone]

Hello everyone I am a new member and have credit loans with the following

 

MBNA

HALIFAX CREDIT CARDS

BLACKHORSE FINANCE

HALIFAX UNSECURED LOAN

 

All of these agreements were taken out before 6th April 2007.

What do I need to do to see whether these are unenforceable and how do I challenge the banks. Help!

 

I have had a good read of everyone elses views and would appreciate your help particularly with reference to any standard responses that you write when dealing with the banks.

 

Also am i in a position to reclaim the interest that has been paid since the agreement has started? And can I ask the financial institution to freeze the interest with my first letter?

 

Heres hoping I can save money.

 

Platinumone

[belovedm8]

Hi all, great forum which I have followed with great interest.

I am about to do 5No section (78) 1 requests and I have a fundamental question:

All of the credit cards were taken our pre 06, so does section 15 of the 2006 CCA apply (section 15 2006 act repeals section 127 (3) to (5) of the 1974)

i.e. What will apply if the creditor has failed to execute the agreement? Is it at discretion of the court (2006 act) or creditor cannot enforce the debt? (1974 act)

Some great letter templates which are amusing however I would note creditors do not committ an offence if the 12 + 30 days to provide the executed agreement lapses and to which the Consumer Protection From Unfair Trading Regs 2008 refer. Or, similar to my question above, are any ammendments to the 1974 retrospective? i.e. cover agreements made prior to the regs/Act receiving Royal Accent??

[steven4064]

Hi belovedm8

 

Welcome to CAG. THe provisions of the 2006 ACt are not retrospective

[Foxknowe]

Hello,

 

I stumbled across this thread when doing some research on Cartel Review (I did not want to part with £495 when I can do it myself). I posted on a different thread earlier (I did register tonight), and coulddo with some help on the "procedure" to follow, and the template letters to use.

 

I checked out the templates earlier and the site is huge!!!

 

Apologies if I seem a bit of a dummy.

 

Between my wife and I we have 10 cards, and struggling a bit financially so any help would be greatly, greatly appreciated.

 

Thanks in advance!

[XXXMKP]

Hello guys, I'm new to this site, but find the contents of this forum very interesting. I am following the comments made here and will advise outcome of my credit accounts. Fingers Crossed!

 

In this case, does Drewsters have a responce from last letter?

[steven4064]

Hi XXXMKP

 

Welcome to CAG. If you have an ongoing fight on your hands, start your own thread and plenty of people will be around to help you.

[Viscount Stair]

I have started to send off CCAs but I have been omitting any reference to the criminal offence aspect as my understanding was that the offence provisions in ss77-79 had been repealed by the new Consumer Protection Regs.

 

However, does anyone else think that there might be mileage (at least until the point is ever tested one way or the other) in an argument that failing to comply with ss77-79 is a lack of professional diligence resulting in a material distortion contrary to reg 3 of the new Regs and an offence via that route?

[blue_sky]

Hello All, new to this site. Please could someone advise me how I can get my Credit Agreement for my RBS Loan checked to see if it is Unforceable, many companies are charging £295 for an audit, it would be nice to think I could get it checked much cheaper than this or even free.

Does anyone have any suggestions on how they went about it ?

 

Also, can anyone recommend any companies who are very successful at having the loan 'written off' ?

[wednesday1867]

Blue Sky, if you start your own thread and upload a scan of the document they sent you minus all personal info, a lot of people on here will be able to tell you if its enforcable or not.

[miketwitty]

Hello everyone,

 

Like a number of you I am new to this forum.

I would just like to say that there is some fantastic information and help. I was originally speaking with a rep from Cartel who made me aware of the potential unenforceable agreements that I have.

I look forward to speaking with you all in the near future.

Mike

[abdulkuku3]

Re: Unenforceable Credit Agreements?

Hello everyone I am a new member and have credit loans with the following

 

NATWEST CREDIT CARDS

NATWEST UNSECURED LOAN

 

All of these agreements were taken out before 6th April 2007.

What do I need to do to see whether these are unenforceable and how do I challenge the banks. Help!

 

I have had a good read of everyone elses views and would appreciate your help particularly with reference to any standard responses that you write when dealing with the banks.

 

Also am i in a position to reclaim the interest that has been paid since the agreement has started? And can I ask the financial institution to freeze the interest with my first letter?

 

Please I need a step by step guide to start the process of challenging my bank, I will be grateful if you would send me standard letters used to start this process.

 

Thanks in Advance

[rmart]

Any advice would be appreciated..

 

My daughters took out a together mortgage with Northern Rock in November 2006. They took a £93,000 mortgage and then a £28,000 unsecured loan.

 

The loan document says ‘Fixed loan agreement regulated by the consumer credit act 1974′ on the front of it.

 

also inside it says ‘this credit agreement is regulated by the consumer credit act 1974. sign it only if you want to be legally bound by its terms’

 

and ‘ The consumer credit act 1974 lays down certain requirements for your protection, which should have been complied with when this agreement was made. If they were not, we cannot enforce the agreement against you without a court order’

 

The loan was taken out in Nov 2006 and at this time loans above £25,000 were not covered by this act. Only loans after April 08 were covered if over £25,000.

 

They are not protected by the CCA 1974 and yet they were told they were, therefore is this loan written incorrectly ? Can it be claimed that it was mis sold ?

[micklefickle]

Hello, I'm new to this, but I followed your advice and wrote to Marbles about my credit card. They could not supply me with a copy of my agreement, and instead supplied me with a sample one which was written at least 3 years after they say my agreement began. However, they state that as I have been paying into the account, I therefore acknowledge the debt and they hold me responsible for it.

 

How should I respond?

 

Thanks

[Viscount Stair]

Hello, I'm new to this, but I followed your advice and wrote to Marbles about my credit card. They could not supply me with a copy of my agreement, and instead supplied me with a sample one which was written at least 3 years after they say my agreement began. However, they state that as I have been paying into the account, I therefore acknowledge the debt and they hold me responsible for it.

 

How should I respond?

 

Thanks

 

Hi! I'm relatively new here too but willing to try and help.

 

For an ongoing saga, you will need to start a thread of your own.

 

In the meantime, "acknowledgment" is relevant to time running for the purposes of the Limitation Act (sometimes called statute barring); it is NOT relevant to the question of enforceability under the Consumer Credit Act.

[micklefickle]

Thanks Viscount Stair.

 

Does this mean that I can ask them to write off the debt? Or should I start with a softer approach and ask them to freeze the interest?

[steven4064]

Or you could write and say "you haven't got an enforceable agreement which means you can't take me to court for the alleged debt. In the course of my dealings with your company I have actually paid the amount I borrowed several times over, all the rest of the alleged debt being interest and charges. I therefore propose that I pay you £x in full and final settlement of this account" (£x being about 20% of the remaining balance, which is what they would get if they sold it to a DCA) or "I therefore suggest we call it quits and you write off the outstanding balance"

[Jill mcbain]

Hi

I am new to this site but was gonna try to claim back my unsecured egg loan as a company contacted me but the fee was £450 then £1000 if they won. Can I do this on my own and also how do i know if the contract is deemed incorrect?

Thanks

[miketwitty]

Hi

I am new to this site but was gonna try to claim back my unsecured egg loan as a company contacted me but the fee was £450 then £1000 if they won. Can I do this on my own and also how do i know if the contract is deemed incorrect?

Thanks

 

Hi Jill,

 

I am in the same boat. I started getting copies of paperwork before Christmas, but like most things it got pushed aside. I will be starting to review the paperwork, etc I have received and getting the ball rolling again shortly.

I was originally contacted by Cartel who pointed out the fact there is a possibility my agreements may be unenforcable, but again they wanted 100's of pounds to do it.

I have looked at a number of threads on this forum and there is, from what I can see, definite scope to pursue matters.

I think the main hurdle that a lot of us have is the fear factor, going up against the "Big Boys".

We will see how things go.

Mike

[Jill mcbain]

Hi mike

 

Thanks for answering.

I just need to know what sort of letter i need to send to egg and if the credit agreement is illegal, not that you get anything to sign from egg.

 

Has anyone pursued egg and if so what was the outcome?

 

Thanks

[steven4064]

Egg are no different from anyone else except theu have a higher proprtion of non-enforceable agreements - both for loans and credit cards

[pompeyfaith]

along with MBNA too,but do remember if the agreement is unenforceable that does not stop creditors,dca's chasing you for the money as the term merely means that it cannot be enforced in court.

 

I fact in many cases on here including mine they have even started court proceedings on an unenforceable agreement hoping that the defendant will cave in.

 

for armed is for warned

 

Regards

 

Pompeyfaith

[steven4064]

I'm afraid a lot of DCA practices are based on the assupmtion that the punters don't know their rights or the law

[tosh1]

subbing

[agbear]

Thank you to everyone in this thread. Using this information I have Identified an unenforable agreement with HSBC. They fell at the first hurdle by not providing the original signed copy. I have sent them 3 letters to-date and I'm in the final stages.

 

What's next? Do I need to send them a notification letter stating that I am going to stop the payments. They have not said they will write off the debt as they feel they have complied.

 

Will this effect my credit history? It's taken me a long time to get a good rating so I don't want to ruin it.

 

Thanks again.

[steven4064]

Hi agbear

 

Welcome to CAG

 

Before you do that, make sure the agreement really is unenforceable. Remember there is a big difference between them sending something which complies with s77 or 78 and them sending something which is enforceable.

 

It might be best if you scanned and posted wht they have sent you so that we can have a look. Remove personal details first