Northern Rock Loan - CCA Recieved

[St1973]

Hi,

 

I CCA'd NR a month ago and although late, they have supplied me with a signed CCA. It is a single, photocopied sheet signed by me and dated Sept 2005. No other sheets are attached however a staple is clearly marked on the copy.

 

Note: This is a LOAN, not a credit card

 

I will scan this in tomorrow, however I have a question regarding the prescribed terms.

 

the Terms used in the agreement are:

 

1. Loan Amounts

2. Loan Amount

3. Total Amount Payable

4. Monthly Payment

5. Term of Agreement

6. Total charge for credit

 

My understanding is that the terms should be:

 

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 agreemet 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 etc.

 

Any advice?

[davey77]

It could be ok, Loans it seems, are generally a lot more solid than credit card agreements.. but post it up tomorrow and I'm sure lots of folks will be along to comment.

[St1973]

Cheers, I'll post the copy tomorrow.

 

Its worth noting that no cooling off period is stated and that I did not sign this on the banks premises.

[Rooster-UK]

Moving thread into the Debt Forum, where you will get more help.

[St1973]

Hi all,

 

Scanned my CCA in for perusla!

 

The second sheet is a 'non-attached' T&C Sheet - Unreadable

 

regards

 

S

NorthernRockCCA.pdf

Edited February 26, 2009 by St1973

[davey77]

Sorry, but that looks pretty solid to me.

 

You have left your signature and account number showing by the way!

[St1973]

Thanks!

 

I have amended the scan to hide the offending items

 

Thanks again for the input, I believe it is, although there could maybe be some arguement over no cooling off period etc??

[davey77]

I am unfamiliar with the cooling off period aspect so won't comment as it would only be guesswork on my part. Hopefully someone will be along with more info in the subject.

 

As for those Terms and Conditions. I would certainly ask for a legible copy. As they form part of the 'agreement' you are entitled to be supplied T&Cs that are readable.

[St1973]

I will ask for a copy of the T&C's and proof that were part of my original signed agreement.

 

On another note, is there any free legal advice out there that could gve you a review of your agreement?

[davey77]

Everyone will offer advice although of course there are people very knowledgeable in legal matters about.

 

I'd check out this thread as a first port of call:

 

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

 

You may even find your agreement posted elsewhere and the responses to it could help you decide up your own course of action.

[St1973]

Hi,

 

A solicitor is acting on my behalf now and this is his letter to NR....

 

You have supplied our client with a copy of the executed credit agreement following his statutory request. You have invited him to refer any dispute to your Complaints Team.

 

The agreement as supplied does not contain a statement of the Right to Cancel, under Schedule 2 Part I and Regulation 2(3) of the 1983 Consumer Credit (Agreements) Regulations.

 

The consequence of this is that the agreement is improperly executed and under Section 65 of the Consumer Credit Act 1974 it becomes enforceable on an order of the court only. As the agreement was executed on 3rd September 2005 it escapes the reforms of the 2006 Act and it may be that an enforcement order is not permitted, by virtue of Section 127(3).

 

We ask for your observations on this.

 

Alternatively, we invite you to confirm withdrawal of any claim for money from our client.

 

Maybe some good news!

[davey77]

Interesting tactic.. look forward to seeing what they say to that. Good luck.

[harrassed senior]

subbing - good luck

[krisp280778]

Seen it before and it won't unfortunatley be my last. after £1000's of legal fees i lost my case, using the same grounds as above. If i were you just grin and bear it and move on. The document it sounds like you only received the frony page as there will be more than one.