Unenforceable Credit Agreement?

[steven4064]

Lee

 

The only way we can give an answer is for you to post a copy of the agreement on the thread. However, in the present climate following various recent court cases, I would deem it very unlikely that you would get a ruling that the agreement was unenforceable and for you to get the car without payingh the 4k.

 

The unfair agreement was almost certainly the one used to get you to part with your money to to look and see whether your credit agreements was enforceable

[1903Lee]

Thanks for the replies. He is the agreement. I will post the breaches according to Emmetts solicitors this evening.

 

Ford Agreement 2 picture by 1903Lee - Photobucket

 

Image hosting, free photo sharing & video sharing at Photobucket

 

I've also posted on

 

http://www.consumeractiongroup.co.uk/forum/dealing-debt-scotland/249757-prescribed-breaches.html

[FlyboyAgain]

Lee

 

The only way we can give an answer is for you to post a copy of the agreement on the thread. However, in the present climate following various recent court cases, I would deem it very unlikely that you would get a ruling that the agreement was unenforceable and for you to get the car without payingh the 4k.

 

 

 

Can you cite one of these, Steve, or provide a link to it?

[1903Lee]

The excerpt from the solicitors audit report is as follows:

Based on the information provided in the agreement an amortization schedule has been calculated. It will be noted that the amount of repayments differs from the amount of repayments contained within the loan agreement.

 

The amounts of repayments stated within the agreement are incorrect with reference to the total amount of the loan, the perios of the loan and the stated interest rates.

 

A term stating the amount of repayments is a prescribed term for the purposes of section 61(1)(a) and section 127(3) of the Consumer Credit Act 1974.

 

Failure to correctly state the repayments is a breach of a prescribed term.

 

The warning provided in the agremment is incomplete. The correct warning is provided in paragraph 12 of schedule 2 to the 1983 regulations. The warning in the agreement omits the following prescribed wording:

 

"If you have obtained unsatisfactory goods or services under a transaction financed by the agreement you may have a right to sue the supplier or creditor or both. Similarly, if the contract is not fulfilled, perhaps because the supplier has gone out of business, you may still be able to sue the contrcator".

 

The failure to include the correct warning is a breach of Schedule 2 of the Consumer (Agreement) Regulations 1983 as amended.

 

Please see Appendix 3 for the assessment summary of the prescribed interest rates, and amortization schedule. In those agreements where the monthly repayments are deferred, it is usual practice to add interest to the original loaned sum. The calculations for determining the APR and monthly repayment amounts, in the assessment, have been accordingly on this principle, unless the agreement states otherwise.

 

Conclusion

On the basis of the information to hand, we are of the opinion that a breach or breaches have been identified in the agreement and that the agreement has been improperly executed.

[Mac73]

Hi all,

 

I've just been reading all the posts on unenforceable credit agreements. I've heard a bit about this but am fairly new to it and could really use some help if anyone would be kind enough.

 

I have some large debts, but my biggest is a Tesco Loan. It was taken out in March/April 2005. On 2/9/09 (having read a little about the landmark Judgment of Judge Halbert in the Chester County Court dated 12/3/09 - and other associated articles) I wrote to Tesco requesting the following:-

 

"(1) A copy of the original signed loan agreement;

(2) Confirmation of whether or not the £4,787.56 "Total charge for credit" includes any arrangement fees, or any other charges whatsoever;

(3) Confirmation of whether or not the £4,787.56 is for interest on the sum loaned only; and

(4) A detailed breakdown of how the interest was calculated."

 

(I was probably completely missing the point with most of these requests - I just did my best based on what little I'd learnt from reading around the web etc)....

 

Anyway, Tesco replied on 10/9/09 stating:-

 

"I write further to your letter of 2/9/09 regarding the above act. Please find enclosed a copy of the credit agreement as requested and a statement of financial information below:"

 

[account numbers, my name and address], and then:-

 

"Balance drawn £20,000 drawn on 3 March 2005

Payment of £295.09 due on the 10th of the month

Total amount paid to date £15,639.77

Balance on the account £9,147.79

 

If you have any questions about this please contact this office on 0141-567-0498 and we will be delighted to be of assistance."

 

The enclosed copy credit agreement does appear to be a copy of the original, it looks like my signature (and date - 11/2/05) and it appears to have been signed by one of their reps and dated 3/3/05. The agreement itself is very sparse but (it unfortunately seems to me), probably compliant(?) - it shows the total amount loaned (£20k), the total charge for credit "£4,787.56 - comprising interest £4,787.56", the APR - 6.5%, and the Repayments "Repayments due one month after the credit is drawn and monthly thereafter as follows:- 84 Repayments of £295.09". That really is about it (aside from my basic details and the account details of the direct debit source and destination etc). All other info is contained on an attached T&C document.

 

Can anyone tell me whether the agreement may possibly be challenged as unenforceable on any grounds at all?.... and/or what are the key points to look for in determining whether an agreement is in fact unenforceable?

 

Sorry to ramble on, I wanted to give as full a picture as possible so that anyone that is able and willing to help could at least see the facts.

 

I'd be really grateful for any advice and thanks for your time if you got through this mail!

 

Many thanks

Simon

[brianh2308]

Is the company Ratio Money by any chance ?

 

 

I took up the offer from the above company to look at my credit agreements, I paid them £1575 for the pleasure. I am now 12 months down the line and no further forward and now finding out that they are in administration.

 

I had 5 cases on the go with them and the progress to date was as follows.

 

2 cases went to audit which came back, 1 was compliant and the other was not complaint. They were both then sent for a second audit (if that actually happened). I am now wondering what to do about the one which came back not compliant? I do not have a copy of the original agreement nor do I have a copy of the audit that was supposed to have been carried out.

 

The other 3 cases are a little easier I think, these cases are lending non-compliance. All 3 cases (2 of which are now the same lender after one company merged with another) have been at this stage for some time. They have not nor do I believe they had been assigned to a non-compliance solicitor. So can anyone help me where to go from here? I know these cases were all looked a by the company as I received numerous letters from the lenders say " we are dealing with your complaint and at this point are not able to provide any further info, we will come back to you in the near future" - or something along those lines. Where do I go with these cases? Do I have to start from scratch? Do I request a copy of all correspondence from the lender? The administrator of the above?

 

The whole thing is a mess and I would appreciate as much help as possible. Also does anyone know if I will be able to reclaim the fee's which I paid to them? Will it be through the introducer or my bank (paid by card)?

 

Many Thanks in advance.

[6770XTX]

Hi folks, I have now sent 4 Subject Access Requests to Capital One, they cashed the cheque for this in January 2010. They kept asking for a signature on the letter, on advice of one of the members here, I sent it with a digital signature. I have only received a copy of my original short application form and then eventually a separate typed terms and conditions which did not refer to the application/agreement etc.

I am now being hassled by a debt collection agency who say that Capital One are getting the information to me but still no sign. The debt collection agency now say they will see me in court. Can I do anything about them not providing me with the information on the Subject Access Request and can where do I go from here? Any ideas?

[Braveheart2009]

has anyone been successful is getting an enforceable credit agreement basically wiping there debt off completely?

[chillichilli]

ANY HELP/ADVISE IS VERY MUCH APPRECIATED.

 

Hi, am very new to this and need some help about unenforceable credit agreements.i have 2 credit cards with Barclaycard (owing £8000),

and 1 with Santander (mnba credit card, owing £7000). i have had the cards for many years. i would like to know how do i go about getting the balances written off due to unenforceable credit agreements.i always pay at least the minimum each month and am not in financial hardship. i have also heard that they are not suppose to raise your credit limit without u agreeing first(is this correct?),this has happened numerous times to me. the latest credit limit increase being last month.Please advise as to what i need to do (step by step if possible), and if there are any template letters i can use.

Also, in the process of all this happening, can they close down my accounts and demand me pay the whole balance off (which i'm worried about because i do not have that amount of money!or anywhere near it). i'v also heard that u can get a digital signature? to put in with your letters so they cant copy your signatures on to their documents.

 

Please help as i do not want to keep paying the interest on the balances for many years to come.

 

THANK YOU

[GeoffreyAlby]

ANY HELP/ADVISE IS VERY MUCH APPRECIATED.

 

Hi, am very new to this and need some help about unenforceable credit agreements.i have 2 credit cards with Barclaycard (owing £8000),

and 1 with Santander (mnba credit card, owing £7000). i have had the cards for many years. i would like to know how do i go about getting the balances written off due to unenforceable credit agreements.i always pay at least the minimum each month and am not in financial hardship. i have also heard that they are not suppose to raise your credit limit without u agreeing first(is this correct?),this has happened numerous times to me. the latest credit limit increase being last month.Please advise as to what i need to do (step by step if possible), and if there are any template letters i can use.

Also, in the process of all this happening, can they close down my accounts and demand me pay the whole balance off (which i'm worried about because i do not have that amount of money!or anywhere near it). i'v also heard that u can get a digital signature? to put in with your letters so they cant copy your signatures on to their documents.

 

Please help as i do not want to keep paying the interest on the balances for many years to come.

 

THANK YOU

 

You need to give more information, because at the moment you look like a ham fisted attempt by Barclaycard to pretend to be a holder of one of their unenforceable credit card agreements.

 

 

So , please post the responses to your CCA requests and any DNs they have sent you.

[GeoffreyAlby]

has anyone been successful is getting an enforceable credit agreement basically wiping there debt off completely?

 

 

You need to read what you have written and resubmit it making sense.....

[chillichilli]

You need to give more information, because at the moment you look like a ham fisted attempt by Barclaycard to pretend to be a holder of one of their unenforceable credit card agreements.

 

 

So , please post the responses to your CCA requests and any DNs they have sent you.

 

 

Sorry if i gave u the wrong impression,

i havnt started anything as yet or written any letters, as i want to make sure they wont close my accounts and demand the whole balance be payed off.

can u please direct me in the right direction as to what letters needs to be written and what information i will need from them. Are there any template letters available that i can use?

 

Any help is very much appreciated

 

P.s why would the bank pretend to be someone else and post on here?

[GeoffreyAlby]

Sorry if i gave u the wrong impression,

i havnt started anything as yet or written any letters, as i want to make sure they wont close my accounts and demand the whole balance be payed off.

can u please direct me in the right direction as to what letters needs to be written and what information i will need from them. Are there any template letters available that i can use?

 

Any help is very much appreciated

 

P.s why would the bank pretend to be someone else and post on here?

 

To start with you need to send a CCA request, there are lots of threads on here detailing how you should go about that/

[ChalkieWhite]

I've been reading a lot about the "credit agreement" discussions on this site, and it's prompted me to ask some questions about my own situation. Apologies in advance if this is a long message!!

 

I have 2 credit card debts - one with MBNA and one with Egg - from early 2001. The debts on these cards escalated after being made redundant back in 2003 when my situation changed completely. Period 2005/early 2006 I was forced to use the cards for living expenses - mortgage, etc. Sold the house in 2005 to clear other debt. In early 2006 the limits where reached on both cards - £9,100 on MBNA and £7,510 on Egg. I have struggled ever since to make payments but have managed to do this. I have paid MBNA £11,700 since Spring 2006 - the balance to date has been reduced by only £1,400 due to the excessive interest rates that were put on the card. Similarly with Egg, I've paid £8,770 since Spring 2006 - the balance has been reduced by only £2,370.

 

I work as a self-employed graphic designer and my work has been diminishing over the past 12 months... and is about to dry up altogether in a couple of months when a long-term contract ends. Due to this recession I'm finding it harder and harder to get work, and being 54 years of age it seems almost impossible to find a full-time job - too old for the industry I have worked in for the past 25 years.

 

I requested copies of my credit agreements and a full statement of account from both parties - letters out in mid-May. Nothing from Egg. I sent a second letter after 15 days requesting again and informing them that I wouldn't be paying anything until I received the CCA. I had calls from them when the monthly payment was due (mid-June) to find out why I hadn't paid anything. I explained and they kept referring to my "complaint" being dealt with by another department. Still nothing, apart from a letter saying my "complaint" was being dealt with. I was not aware that I had actually made a complaint - I simply asked for a copy of my credit agreement. Does anyone have advice about what I do next if nothing is forthcoming from Egg?

 

With MBNA, a letter arrived within the 12-day period with what they have referred to as:

a. A copy of your executed agreement

b. Your up to date terms and conditions

c. A copy of your most recent statement (which shows the state of your account) which has been signed (by MBNA).

 

Initially I thought this was what I had asked for. I have now realized that what they have sent me is:

a. The initial application for for the card

b. Print-out of financial & related conditions

c. Print-out which they refer to as a "copy of your agreement".

 

The latter has my current address in place. I have moved 4-5 times since I took out the original agreement and indicates the 34.9% interest rates I am currently being charged. This is not the original credit agreement, is it? I am unsure of what to do next. I sent a letter to MBNA at the end of last month indicating the changes in my work/financial circumstances and that, having made a personal budget sheet (which I included with the letter), I was only able to pay them £50 per month, instead of the £250 I have been paying them for countless months. I have not received a reply to this letter. They sent me my recent statement with the minimum payment set at £350.

 

I simply don't have the money to pay them anymore. I don't actually know how I'm going to live for the next few months after paying everything else.

 

Any advice would be very welcome! I am not trying to rip anyone off here. I simply can't keep on paying at the rate I've been forced to by these financial institutions.

[Paros1]

Hi wonder if anyone can help, Lloyds TSB have just issued a claim against me for my credit card does anyone have any suitable wording for the defence form.

 

Any help massively appreciated.

 

Paros1

[Hopster]

Any Caggers done business with McKay Law Solicitors ? Specialist solicitors re. potentially unenforceable CCAs

[hypnoboy]

 

 

Hi I am New here sorry if i have posted in wrong place not sure where i should be posting, can someone advice me if this credit card agreement is legal

 

Thanks

 

Andrew

[worriedat50]

I am currently paying £100 a month to Arc on an Egg loan from 2005 and £50 a month to BO and S for an IF loan from 2002. Arc keep ringing on different mobile numbers and leaving messages on my home phone. I have asked them for an copy of my agreement and they have told me to contact Egg. The IF loan was only given to me if I took out PPI at the time and when I had a heart attack in 2006 they made it almost impossible to claim. Is there anything I can do as i don't need another build up of stress with my medical history!!

[worriedat50]

I am currently paying £100 a month to Arc on an Egg loan from 2005 and £50 a month to BO and S for an IF loan from 2002. Arc keep ringing on different mobile numbers and leaving messages on my home phone. I have asked them for an copy of my agreement and they have told me to contact Egg. The IF loan was only given to me if I took out PPI at the time and when I had a heart attack in 2006 they made it almost impossible to claim. Is there anything I can do as i don't need another build up of stress with my medical history!!

Edited July 27, 2010 by worriedat50
posted twice

[6770XTX]

Hi folks, have been having an on-going dispute with Capital One. I subject access request them last december and since then have had numerous letters saying they needed my signature then saying they needed proof of signature. Eventually, having sent copy of my passport they sent the requested information. Where do I go from here? All the debt collection agencies they tried using then refused to deal with because it was in dispute. So its me against Capital One! They have now advised the credit reference agencies and I am now unable to get credit. What can I do? Is is worth making them an offer? Or will they simply want the full balance paid? Advice would be greatly appreciated.

[FlyboyAgain]

I am currently paying £100 a month to Arc on an Egg loan from 2005 and £50 a month to BO and S for an IF loan from 2002. Arc keep ringing on different mobile numbers and leaving messages on my home phone. I have asked them for an copy of my agreement and they have told me to contact Egg. The IF loan was only given to me if I took out PPI at the time and when I had a heart attack in 2006 they made it almost impossible to claim. Is there anything I can do as i don't need another build up of stress with my medical history!!

 

Your IF loan was with HBOS, I presume? Funny that, I have a loan with them that was conditional on taking out PPI, something which they have denied ever saying, even to the Ombudsman. Liars, the lot of them.

 

Re: Arc. Write to them and TELL them to stop harrassing you. Report them to Office of Fair Trading as well. These **** get their kicks phoning people up at home at night. Get the Truecall device or change your number and go ex-directory.

 

Have a word with CAN or the National Debt helpline to see if you can enter into a plan to reduce payments. Do NOT let these people harrass you over money, for it's not worth it!

[FlyboyAgain]

Hi folks, have been having an on-going dispute with Capital One. I subject access request them last december and since then have had numerous letters saying they needed my signature then saying they needed proof of signature. Eventually, having sent copy of my passport they sent the requested information. Where do I go from here? All the debt collection agencies they tried using then refused to deal with because it was in dispute. So its me against Capital One! They have now advised the credit reference agencies and I am now unable to get credit. What can I do? Is is worth making them an offer? Or will they simply want the full balance paid? Advice would be greatly appreciated.

Sounds like they're messing you about. Is the account in dispute becuase you think it's unenforceable or what? If you have found out you are uncreditworthy, it'll be more than just Cap One who'll have done that and if you've got a blitzed credit file then there's no point in going looking for credit for every time you try it it's noted and - I think - you'll be seen as an even bigger risk!

 

Why would you want to make them an offer?

[6770XTX]

Yes I believe it is unenforceable. The original application form is what they sent as my agreement, which was basically just a short application form, no terms & conditions etc. I am trying to get a mortgage and when I spoke with my bank they said I couldn't get a mortgage due to my credit rating, they said it was something to do with Capital One. I am trying to buy my parents house, which I live in with my family too, therefore thought if I made them an offer then I may get my credit rating sorted. I have no other accounts which are behind or in dispute so I cannot see how anything else would be adversely affecting it?

[FlyboyAgain]

Hhmm.. I take it you've halted payments whilst in dispute? If so, maybe they've been blitzing your file every month then and that's what the bank has spotted. You need to request your file from Experian and look to getting it tidied up if you want to buy that house. Catch is, you'll have to pay the whole lot off which kinda makes your dispute now null and void.

[6770XTX]

Ok thanks, will get a hold of my credit file and see what's to be done