Unenforceable Credit Agreement?

[cavey]

I worked in the Legal Department for little woods for a time so know they will wipe that one off.

So are you saying that although they cannot provide my credit agreements I still have to pay it??

[B3rty]

Your choice.....they can't enforce without an agreement but they will try and collect plus update your credit file...the likely situation is they will sell the debt onto a DCA...

[cavey]

So if they cant enforce it how can they collect it? They dont have my new address. Plus, I read on here that the debt should be set aside without attempt to collect and any contact further to my correspondence could be reported to trading standards. I also read that I could even collect any payments made to them in the past, which I havent requested, and any bad stuff they have put on my credit file in the past should be cleared?? Very confused now!!!!!!!!!!!!!!!!

[B3rty]

Enforce means to take you to court, however they can still collect the money because its still a debt until such a time as a court says no or it go past the 6 years.

 

Of course you don't have to pay and after 6 years the debt will drop off but in the meantime they can still try to collect, update your credit file or sell the debt on

[lawyerscum2003]

My understanding is that an IVA is essentially a new agreement to repay a lesser amount to a creditor i.e a fresh or new loan agreement that subsumes the original debt so a declaration of unenforceability is of no use. An IVA does not preclude a refund of PPI or excessive charges though

[rebel11]

Barclaycard have taken over the Goldfish accounts, does that make any difference?

[Hopster]

Goldfish took over from Liverpool Victoria and were then taken over by Barclaycard. We are figting them on that issue.

[rebel11]

Can I go ahead and ask Barclaycard for a copy of my signed CCA?

[rebel11]

All my credit cards were obatained before April 2007. So I think I'll start by

trying to obtain copies of my CCA.

[treblex33]

Send your request to whoever is chasing you for the money, ie if the debt has passed to a DCA then write to them with your request. they will pass your request to the OC.

I would recommend that you do a SAR instead of CCA request as most of creditors appear to supply reproduction copies of CCA's.

 

if the litigation then ends up in a court room (having requested a SAR ) the OC cannot produce evidence other than the info included in the SAR. with a CCA they can

 

good luck

[Hopster]

If that is accurate that is a great bit of advice. Thx

[rebel11]

I'm going for the bank and credit card charges first. I intend to send them

the Subject Access Request to get hold of statement.

[still waiting]

Hi, new to this site but we are currently dealing with a company called Red Kite Ethical Debt Solutions. We are in the final stages awaiting for a court date. Just wondered if anyone else had dealt with them or heard of them.

[Hopster]

Red Kite charge 30% off refunded or written off monies plus initial fee of " ?" - vJust looked up their website.

[still waiting]

Hi thanks for the reply. They have told us that this charge does not apply to us as we joined them through another company (it was very complicated), they say that their charges are claimed back on top of ours with the solicitors cost in court.

 

To be fair they have been good up till now but seem to be taking their time promising a court date, we have been with them since January.

[Hopster]

I understand that. I joined Ratio Money through another complicated situation with another similar company. Slow but maybe making progress but have to keep on at them.

[still waiting]

Thats interesting Credit Clear Services who we were orginally with were some how linked to Ratio Money, but I believe they had some sort of falling out. We have been trying to sort this since July 08, but have only been with Red Kite since Jan 09.

[Hopster]

That is right. Ethosvision (Mark Pope) (?) to Credit Clear Service (Mark Pope)to Claims Warehouse to RatioMoney I believe to be the trail. No further fooes to us. i am getting good vibes from RatioMoney. WEe can speak about this if you like.

[Hopster]

Fees (!)

[still waiting]

Hopster that would be great, not sure how to go about that, do we start a new thread on here or would you like my email address.

 

I have just had a call from the solicitors so it does appear things might be moving as last.

[Hopster]

Which solicitors ? Emmetts by any chance ? We should definitely keep in close touch. Where are you ? If you start a new thread that would be good. Just notify me what it is called.

[still waiting]

No Veitch Penny in Exetor.

Edited October 22, 2009 by still waiting

[Hard_Times]

And as debt Regret can wipe out your debt in 3-6 months, they must have quite a few by now they can tell us about!

[loverboy74]

hey people im a novice here but reckon I got this credit agreement thing sorted, surly for starters a credit agreement must be a signed document between I and my lender, not just a booklet of terms and conditions??

The Apr must be clearly stated not just a phrase stating "will be determained etc etc"

Basically reckon my Vanquis agreement is not an agreement at all

[abanaza]

Hi, very interesting thread. I too have issues with a credit agreement that I believe is unenforceable.

My own situation is somewhat different as I have a loan that is in my name that was takwn out by my ex-wife. While we were separated she forged my signature (looks nothing like my own signature) and had the loan transferred to her own account. When I discovered what had happened I spoke to Northern Rock (NR) who supplied the loan. They told me that if I had a dispute I would be required to make it formal and it would have to be reported to the police. The problem I had was that if I reported my ex to the police and she was convicted of fraud, she would lose her job which would then warrant her being eligable for more maintenance from myself - catch 22. So until now (3 years on), I have reluctantly made the loan repayments every month.

While reading some of these threads I believe that the agreement may actually be unenforceable as the APR and repayment amounts stated on the agreement do not add up. The APR is listed as 5.9%, the loan amount was £14000 with interest totaling £18480.00. The agreement states monthly repayments of £154.00 and a term of 120 months. There is no reference to a final payment.

If I use an APR loan calculator with the above APR, loan amount and term, the monthly payments come out at £153.65 and not £154 as noted on the agreement.

 

Does anyone know if I have a case to go back to NR and dispute the agreement?

 

Thanks, Stu.