Letter from Cabot re CCA Help please

[pt2537]

 

Our response to your letter

I refer to your letters dated 19th September and 8t" December 2008, and our letters dated 1St October, 13t" October, 24th October, 6t" November and 13th November 2008.

You have stated that Cabot has not provided you with a copy of the credit agreement. However please be advised that although the original copy may not be available, MBNA has supplied Cabot with a copy of the original which you signed and satisfies all requirements of both MBNA and Cabot. Under section 78 of the Consumer Credit Act 1974 it states "the creditor... shall give the debtor a copy of the executed agreement (if any)" and stress the words "if any".

 

Ok, i have an email here from Francis Bennion who was the drafts man of the Act, i have had much correspondance with him about the Act. Francis stated the words (IF ANY) should be read as if there never was a signed agreement and only if , would the lender be released from their statutory obligations.so Mr P is talking dribble

 

 

Cabot has been provided with a copy of the agreement from MBNA and therefore, this satisfies all obligations of both parties.

For your ease of reference please find enclosed a further copy of the credit agreement that you signed and agreed to with the original lender. Please note that on the copy of this agreement, your signature is supported by the statement "This is a Credit Agreement regulated by the Consumer Credit Act 1974. Sign it only if you want to be legally bound by its terms". You shall also note on the credit agreement that under the heading "Declaration" it states "Credit Agreement regulated by the Consumer Credit Act 1974", Therefore, this constitutes a valid credit agreement, which is regulated by the Consumer Credit Act 1974 and under the terms of the agreement. Utter nonsense,

 

With regards to the requirements of the agreement regulations 198311553 concerning the form and content of the agreement, these regulations do not deal with this matter, as it is the CCA that deals with this matter as primary legislation. Section 189(4) of the CCA states:

A document embodies a provision if the provision is set out either in the document itself or in another document referred to in it."

 

what?? hmm one has to ask what version of the CCA he is reading from

 

Section 61 of the Consumer Credit Act, which deals with the "signing of document" states

"A regulated agreement is not properly executed unless

(a) A document in the prescribed form itself containing all the prescribed terms and conforming to the regulations (Consumer Credit (Agreement) Regulations 1983) under section 60(1) is signed in the prescribed manner both by the debtor...

(b) The document embodies all the terms of the agreement, other than the implied terms..."

The word "embodies" means that the document need not set out all the terms itself, but may refer to another document setting out the terms under section 189 (4). In this instance on the application form it is clear that the Terms and Conditions are mentioned in the Declaration box and therefore you are incorrect in stating that the agreement cannot be set out in different documents.

As to prescribed terms, this is covered in section 61(a), above, where it mentions, "contains". The terms and conditions have set out all the prescribed terms as required under the Consumer Credit (Agreement) Regulations 1983 and therefore there can be no argument as to the validity of the form and content of the agreement.

 

Im getting bored with this pillock now, refer him to Goode Consumer Credit Law and Practice Vol 2 page 318, that gives the true definition and correct interpretation of what the two sections mean

 

all you need to do is look at s127(3) CCA, it mentions sod all about section 61(1)(B) the "Embodies" part but it does refer to section 61(1)(a) which deals with the key word CONTAINS..

 

if the agreement does not contain the prescribed terms its improperly executed. it may embody the other terms of agreement but it must contain the prescribed terms

With regards to your query relating to the notice of assignment of your debt, please note that the c , ,

November 2008 was a representation of the letter originally sent on 20th September 2001, as stated clearly at the top of the letter.

In conclusion, we are perfectly within our rights to enforce the debt against you as your arguments are clearly unfounded and you have no basis for your dispute or claim for failing to pay the outstanding balance under the credit agreement. Regrettably, if no payment arrangement to settle your outstanding balance is forthcoming within 14 days, we shall have no other option but to escalate your account in our collection process. Therefore, I would recommend you contact us on 0845 0700 116 in order to discuss the options available to you in settling the outstanding balance of £4705.66 on your account. Interest has been accruing on your account, but has yet to be added to the outstanding total.

If you have any other queries in relation to the above account, please do not hesitate to contact me on 0845 026 0463. The Customer Assurance department is open from 9am to 5pm Monday to Friday.

Yours sincerely

 

Steve Perring

Customer Assurance Adviser