CCA unenforceable - what's the end result??

[charliebubs]

I'm just starting looking into my CCA agreements to see if they are enforceable or not.

 

However, I just wanted some clarification as to the actual end result if I find them unenforceable.

 

I understood initially that I could request that the debt be written off in its entirety. Is this right??

 

I have also heard that the loan company/credit card may refund you all the monies you have paid to them over the years in the mistaken belief that there was an enforceable agreement, and that with this money you have to clear the balance of the debt with them?!

 

Is it also right that you can claim back interest paid under these unenforceable agreements??

 

Any of the above would be good but I want to be clear on what the law says in these instances.

 

Or is it up to each individial lender to deal with the debt as they see fit??

 

Many thanks guys

[supasnooper]

I would see what your Consumer Credit Agreement requests bring before seeing what the end result may be.

 

May I suggest you read this thread about CCA's -

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/162851-consumer-credit-agreements.html

 

 

and also the various **won** threads to see what happens.

 

All cases are different and there is no "One size fits all" description that covers your question.

[charliebubs]

Thanks SS - I have already read and posted on that thread.

 

I'm not meaning to jump the gun to the end result! I just wondered if there was a statutory resolution, or if it is a case of the banks deciding on a case-by-case basis.

 

[davey77]

I'm just starting looking into my CCA agreements to see if they are enforceable or not.

 

However, I just wanted some clarification as to the actual end result if I find them unenforceable.

 

I understood initially that I could request that the debt be written off in its entirety. Is this right??

You can ask them nicely to discharge your liability but it ain't going to happen I'm afraid.

 

I have also heard that the loan company/credit card may refund you all the monies you have paid to them over the years in the mistaken belief that there was an enforceable agreement, and that with this money you have to clear the balance of the debt with them?!

They can refund it to the card generally (see my CAP1 thread) but that just clears the debt. Which is good but doesn't put any money in your pocket. Be aware, the will NOT do this voluntarily - they have to be forced through Court action. Assuming you have a strong case.

Is it also right that you can claim back interest paid under these unenforceable agreements??

Can but try. Means if they lose they lose bigger and that gives them something to think about.

 

Any of the above would be good but I want to be clear on what the law says in these instances.

 

Or is it up to each individial lender to deal with the debt as they see fit??

All you need to know is each lender has their own level of aggressiveness. That's it.

 

Many thanks guys

Remember even unenforceable accounts can be sold on to stupid DCAs who don't know any better for a small profit. The rest written off for TAX purposes.

 

Depends on what you want to achieve. Many are ok with a stalemate. Myself, i want total satisfaction knowing the debt is either written off (legally and formally in writing) or paid off in F&F settlement. No comeback in a few yrs saying you owe this or that.

[LarissaJ]

Good points raised Charliebubs!! I have been wondering the same things!!

 

Also, once a CCA is found to be unenforceable, is there a letter that should be sent to the bank or DCA, or is it just a case of once you know that its unenforceable, sitting back and waiting for them to contact you?

[davey77]

There are lots of different methods depending on how urgent the matter is to you and what your personal situation is.

I prefer to keep the paper trail going showing you have asked many times for (whatever you require) a properly executed agreement etc etc

 

This thread on the CPR is another method to try to get other documents out of the creditor:

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/173201-why-you-shouldnt-use.html

[charliebubs]

Thanks Davey - when I started this thread back in Jan I was a bit ignorant as to what would and could happen. Many hours of reading the boards since....I now have a much better idea.

 

Thanks for your response though

[charliebubs]

Quick update - I've had success with one of my catalogue companies!

 

Additions Direct - used to be Abound - admitted to not being able to find/not having a credit agreement for me. So I wrote back saying that the debt was unenforceable and that I wouldn't make any further payments. I have now received a letter from them confirming that they agree and that they will not be pursuing me!

 

Woohoo!!

 

It's my smallest debt at just over £700 - but every penny helps!!

 

Thanks so much to this forum.

[davey77]

Nice work Charlie B