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CCA from Fredrickson


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Good afternoon all, Mrs Z here

 

After receiving a letter from Fredrickson International Ltd last November regarding a Co-op loan, we sent a credit agreement request.

 

Today we receive a letter from them with what they say is the Credit Agreement.

 

Can someone have a look at it please and give opinions as to whether it complies?

 

On the bottom right hand corner (under their signature) it says: Please turn over for further terms of this agreement.

 

The only thing we got in relation to the Credit Agreement is what’s in the link.

 

http://i305.photobucket.com/albums/nn216/Misterzeus/Co-opLoanCCA.jpg

 

 

 

Before we proceed further with this, any advice/opinions greatly appreciated, thank you

 

Regards

 

Mrs Z

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you will need to post both sides so it can be checked that all the terms ar ethere, also when was the last time you made a payment, or acknowledged the debt?

 

Good afternoon all, Mrs Z here

 

After receiving a letter from Fredrickson International Ltd last November regarding a Co-op loan, we sent a credit agreement request.

 

Today we receive a letter from them with what they say is the Credit Agreement.

 

Can someone have a look at it please and give opinions as to whether it complies?

 

On the bottom right hand corner (under their signature) it says: Please turn over for further terms of this agreement.

 

The only thing we got in relation to the Credit Agreement is what’s in the link.

 

http://i305.photobucket.com/albums/nn216/Misterzeus/Co-opLoanCCA.jpg

 

 

 

Before we proceed further with this, any advice/opinions greatly appreciated, thank you

 

Regards

 

Mrs Z

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Thanks for your reply tigga :)

 

What I have posted in the link is all we received, there is no other side to show.

 

Token payments were being made up until the point that the Co-op decided to pass to Freds.

 

Thanks again

 

Regards

 

Mrs Z

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I have had a look and this looks enforceable to me. The prescribed terms are all there ( I have listed below what MUST be included on a credit agreement to enforce it).

 

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.

 

However, this is obviously not a copy of the original, as the back page is missing BUT that does not mean they would not be able to produce it in court......

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:)I am not an expert, but I can give good advice about Brighthouse:)

 

Am learning more and more about DCA's too :)

 

I have no legal experience and all advice given is based on the knowledge I've gained from this site.

 

<------If you think I have been helpful, please feel free to tip my scales - remember to put your CAG name though!

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I have had a look and this looks enforceable to me. The prescribed terms are all there ( I have listed below what MUST be included on a credit agreement to enforce it).

 

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.

 

However, this is obviously not a copy of the original, as the back page is missing BUT that does not mean they would not be able to produce it in court......

 

 

TOTALLY agree with this.

 

Although ALL the terms and conditions were not sent to you, that looks more enforceable than almost any I have seen on here.

 

Sorry.

 

 

JOgs

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Thank you for all your replies :)

 

No need to apologise havinastella! If it's enforcable then so be it!!

 

This is one of our smaller debts so we will offer what we can afford and no more!

 

Thanks again

 

Regards

 

Mrs Z :)

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Just remember, they cannot have what you do not have.

 

If it goes to Court and you attend, the Judge will only order you to pay back what you can afford.

 

Also, it will normally stop all charges and interest, so it's a win win ;)

 

 

Jogs

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