Aktiv Kapital - help please

[james.edward.dobson]

Hi there.

 

I have an amount due to GE from a previous consumer credit agreement for a television purchase.

 

This is in dispute with GE. Long story, but effectively TV was purchased, credit applied for an accepted, no agreement setup, subsequently IVA entered into and then credit account setup with GE 9 months later. I have contacted GE with regards to this and contacted my insolvency practitioner asking for this to be retrospectively added to the IVA. GE have refused to comment and have just sent me out standard responses to my letters saying that no agreement can be reached until I telephone them, which I have refrained from doing and just answered their letters with a letter of my own, continuing the viscious circle!

 

I have today received a letter from Aktiv Kapital saying that they have purchased the debt from GE and that I am to pay them only, cancel any agreement with GE and to contact only them.

 

So I have a couple of questions.

 

1. Are Aktiv Kapital allowed to purchase a disputed debt (assuming mine is considered disputed as per above)?

 

2. Should I send a letter to Aktiv Kapital effectively CCA'ing them, or explaining the situation to them and asking why they have purchased a disputed debt?

 

Your help is much appreciated.

 

Many thanks.

[cashins]

2. Should I send a letter to Aktiv Kapital effectively CCA'ing them, or explaining the situation to them and asking why they have purchased a disputed debt?

 

 

Just CCA them and see what they come up with 1st.

 

David

[james.edward.dobson]

Thanks for your advice.

 

Can any one of you in the know people out there please give me a sample letter to send, make sure I do everything to the letter!?

 

Many thanks.

[42man]

Letter 'N' from here - send recorded with a £1 postal order - http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20758-creditors-dcas-letter-templates.html

[james.edward.dobson]

Perfect, thankyou.

 

Could someone please remind me of the time limits mentioned in the letter?

[Rayne]

12 days from receipt of the letter, which u'll know from the date it was signed for, or 12+2 otherwise

[james.edward.dobson]

Thank you for your help.

 

I have today had this response from Aktiv Kapital. Your help and advice on how best to proceed would be much appreciated.

 

"

We acknowledge receipt of your request for information under the Consumer Credit Act 1974, however, we are not the original creditor nor did we provide you with the original credit facility. We purchased your outstanding debt balance and right to collect that balance, together with the right to apply interest in accordance with your iriginal Credit Agreement (where appropriate). We did not purchase your actual Agreement, consequently we have no obligation to provide you with a copy of that Agreement.

 

However, as a matter of good practice, we have sought to obtain a copy of the original Agreement from the original creditor and if it is available we will forward a copy to you as soon as possible.

 

Please not that if the original creditor is unable to provide a copy of the Agreement that does not mean that we have no right to continue to request payment of the outstanding balance.

"

 

Thanks for your help guys!

[jobmid]

sounds like their bluffing. they do have to prove to you that your credit agreement is enforceable. has they 12 days passed since they recived you cca request if so they are in default

[PGH7447]

Usual standard letter from aktivkrap, if after the time period they have failed to supply a cca, send them the account in dispute leter

 

Send by recorded....and edit as required

 

Account In Dispute

 

Ref:

 

Dear Sir/Madam

 

Thank you for your letter of xx/xx/xx, the contents of which have been noted.

 

You have failed to respond to my legal request to supply me a true copy of the original Consumer Credit Agreement for the above account.

 

On **DATE** I made a formal request for a true signed agreement for the alleged account under consumer credit Act 1974 s77/8. A copy of which is enclosed for your perusal and ease of reference.

You have failed to comply with my request, and as such the account entered default on **DATE**.

 

The document that you are obliged to send me is a true copy of the executed agreement that contained all of the prescribed terms, all other required terms and statutory notices and was signed by both your company and myself as defined in section 61(1) of CCA 74 and subsequent Statutory Instruments. If the executed agreement contained any reference to any other document, you are also obliged to send me a copy of that document.In addition a full statement of this account should have been sent to me detailing all debits and credits to the account.

 

Furthermore

 

 

You are aware that the Consumer Credit Act allows 12 working days for a request for a true copy of a credit agreement to be carried out before your client enters into a default situation.

 

This limit has expired.

 

As you are no doubt aware section 77(6) states:

 

If the creditor fails to comply with Subsection (1)

 

(a) He is not entitled , while the default continues, to enforce the agreement.

 

Therefore this account has become unenforceable at law.

 

As you have Failed to comply with a lawful request for a true, signed copy of the said agreement and other relevant documents mentioned in it, Failed to send a full statement of the account and Failed to provide any of the documentation requested.

 

Consequentially any legal action you pursue will be averred as both UNLAWFUL and VEXATIOUS.

 

Furthermore I shall counterclaim that any such action constitutes unlawful harassment.

 

Please note you may also consider this letter as a statutory notice under section 10 of the Data Protection Act to cease processing any data in relation to this account with immediate effect.

 

This means you must remove all information regarding this account from your own internal records and from my records with any credit reference agencies.

 

Should you refuse to comply, you must within 21 days provide me with a detailed breakdown of your reasoning behind continuing to process my data.

 

It is not sufficient to simply state that you have a ‘legal right’; You must outline your reasoning in this matter and state upon which legislation this reasoning depends.

 

Should you not respond within 14 days I expect that this means you agree to remove all such data.

 

Furthermore you should be aware that a creditor is not permitted to take ANY

Action against an account whilst it remains in dispute.

 

The lack of a credit agreement is a very clear dispute and as such the following applies.

 

* You may not demand any payment on the account, nor am I obliged to offer any payment to you.

* You may not add further interest or any charges to the account.

* You may not pass the account to a third party.

* You may not register any information in respect of the account with any credit reference agency.

* You may not issue a default notice related to the account.

 

 

I reserve the right to report your actions to any such regulatory authorities as I see fit.

You have 14 days from receiving this letter to contact me with your intentions to resolve this matter which is now a formal complaint.

 

I would appreciate your due diligence in this matter.

 

I look forward to hearing from you in writing.

 

Yours faithfully

__________________

 

[jobmid]

make sure not to sign the letter just print your name. DCA's are very good with photoshop and if you sign anything they will invent a cca using photoshop with the signature you sent on you letter.

[james.edward.dobson]

Thank you for your help and advice.

 

To confirm, I send this 12 days after receipt?

 

What is the 30days I am thinking off an it becoming an offence for them to do anything?

 

Thanks.

[cashins]

Thank you for your help and advice.

 

To confirm, I send this 12 days after receipt?

 

What is the 30days I am thinking off an it becoming an offence for them to do anything?

 

Thanks.

 

They have 12 + 2 working days to provide the CCA, after that send the letter. The 30 day offence no longer applies.

 

David

[james.edward.dobson]

Hi there

 

Aktiv Kapital have come back to me with a copy of the agreement and now wish me to get back to them within 7 days with my repayment plans.

 

Any advice would be most appreciated, especially given the situation under which GE sold to AK.

 

Thanks, and Happy New Year!

[42man]

Can you scan / photo the agreement and post it up here (minus personal details, reference numbers etc)....? use Image hosting, free photo sharing & video sharing at Photobucket if need bee (free) and there is a tutorial here if you need it - http://www.consumeractiongroup.co.uk/forum/bear-garden/165941-photobucket-video-tutorial.html

 

This might also help you...

 

CCA RULES FOR PRESCRIBED TERMS

CONSUMER CREDIT ACT

8.2 What if prescribed terms are missing or incorrect?

 

s127(3) provides that the court may not make an enforcement order unless a document containing all the prescribed terms of the agreement was signed by the debtor – see Q1.21.

 

If therefore any of the prescribed terms is missing, or incorrect, the agreement is not enforceable against the debtor, and the court is precluded from making an enforcement order.

 

 

8.3 What are the prescribed terms?

 

The prescribed terms specified in Sch 6 are as follows:

 

* amount of credit – see Q8.

 

* credit limit – see Q8.5

* repayments – see Q8.9.

* rate of interest – see Q8.6

 

Sch 6 was not amended by the 2004 Regulations.

IS MY AGREEMENT ENFORCEABLE( Via section 127(3) CCA1974)

PRESCRIBED TERMS FOR THE PURPOSES OF SECTIONS 61(1)(0) AND 127(3) OF THE

CONSUMER CREDIT ACT 1974 Taken from sced.6(1983/1553) regulations

(If you just want to find out, skip the bits in between the stars it’s just some extra information)

 

**What do we mean by unenforceable?

In the Consumer Credit Act section 127 there is a provision for making an agreement unenforceable if it does not contain certain pieces of information.

Subsections 1,2,3,4 state which pieces of information these are, and everything mentioned there must be included within the body of the agreement, if one is missing the agreement is unenforceable.

 

How does unenforceable differ from enforceable with a court order only?

When an agreement is unenforceable it means that the court or the judge cannot make a ruling on it. The court cannot make it enforceable.

When an agreement is enforceable only by ruling of the court it means that the agreement can be stopped by the debtor but the court has the power to re-instate it and allow the credit to continue to enforce.**

 

The Prescribed Terms are these

 

A Amount of credit

A term stating the amount of credit

 

B Repayments

A term stating how the debtor is to discharge his obligations under the agreement to make the repayments, which may be expressed by reference to a combination of any of the following-

(a) Number of repayments;

(b) Amount of repayments;

© Frequency and timing of repayments;

(d) Dates of repayments;

(e) The manner in which any of the above may be determined; or in any other way, and any power of the creditor to vary what is payable.

 

C Rate of interest

A term stating the rate of interest to be applied to the credit issued under the agreement

D Credit limit

This may be a term or the manner in which it will be determined or that there is no credit limit.

--------------------------

 

Which of these applies to you depends on the type of agreement you have?

 

For a Running Account (credit card) agreement

 

BC and D Apply

 

For a Restricted Use Debtor Creditor Supplier

• Where the dealer is the supplier and the creditor is the one providing the finance.
  
• The money can only be used for the purpose it is given.
  
• There is no interest on the purchase (the cash price is the same as the total price)
  
• And there is no advance payment
  

A is applicable

 

For a fixed Sum Credit Agreement

A conventional credit agreement with none of the above restrictions

 

A and B apply

 

For a Hire Agreement

 

B is Applicable

 

This paper only covers section 127(3) of the Act agreements can also be unenforceable by contravention of sections 1 and4 this will be the subject of the next paper.

Please note that these Prescribed terms where not changed in any way by the 2004/1482 Ammendments although the form in which they appear on the agreement was. Subsection127(3) was repealed on the 6th of April 2007 so that unenforceability due to 127(3) will only apply to agreements executed before that date.

[james.edward.dobson]

Hi there.

 

Thank you for your response.

 

I have attached a copy of the agreement that I have been provided with. I am afraid it is not all that legible! I have tried scanning it a number of times, but this is the best I can get it!

 

As a result, I will type what it says under what I think are the prescribed terms as above.

 

Under the agreement, I purchased an item under a buy now pay later scheme whereby an 'Edge' account was opened and an 'Edge' card provided which acted as a credit card in certain types of stores, so I think that B, C and D apply. Please correct me if I am wrong.

 

The agreement reads:

 

We will set your credit limit and tell you what it is when we open your Account. We may change it from time to time. If we do we will tell you in writing. Your credit limit will also change automatically if you have other Edge agreements depending on the amount you owe us on these.

 

The minimum monthly payment is 'A' plus 'B' where:

1. A is the greater of £4 of 4% of the outstanding balance on the Account (unless that balance is under £4, when you must pay the whole of the balance); and

2. B is the monthly premium for optional payment protection insurance (if relevant).

We exclude Buy Now Pay Later Transactions not yet due for payment when we woek out A.

We will send you statements showing the date for payment. This will usually be 25days after the statement date.

24.9% APR (variable)

 

We will charge interest at:

1. 26.478% p.a. for Cash transactions and

2. 22.482% p.a. for Retail purchases and all other amounts charged to your account except Special Transactions made after this agreement is entered into.

 

There is then a lot of blurb about how interest is calculated if late payments are made etc, the order in which payments are applied to the account, charges, missing payments, loss or theft of the card and the like.

 

I would appreciate any comments, if you need any more info from me, please ask.

 

To note, if it is of any relevance, AK referred to this document as the 'application form'.

 

Thanks again for all your help.

Edge Agreement.pdf

[james.edward.dobson]

Any help will be very gratefully received.

 

Thank you.

[42man]

It is really hard to read....is it fully legible ?

[james.edward.dobson]

The copy that I have uploaded onto here is, however this is not the one I received from AK.

 

I am yet to receive a fully legible one from AK, though have asked twice.

 

Are the contents that I typed out any good?

 

Thanks.

[cashins]

What you have typed appears to have the prescribed terms however, They would have problems in a court if they cannot in fact come up with a legeable agreement.

 

david

[pelham9]

The PDF version you have posted is not legible.

 

Iif this is the document they sent you it is not enforceable simoly because it cannot be read.

 

You say you have aked them for a legible copy so await and see if it is any better.

 

There must have been a PPI payment included to get an %APR so much higher than the standard annual rate. What was it?. Was it mis-sold.

 

See wheyher you can calculate the monthly interest rate that they must have used.