Unsigned Credit Card Agreements

[cvpms]

I have two credit cards one with Capital One with a £4000.00 limit currently with a balance owed of £1990.00 approx. I opened this account on 22/12/2005 (applied online).

Also I have a Virgin Credit card also applied online with a £6000.00 limit and a balance of about £5400.00 this was openened 27/2/2008

I have drafted letters to both which I will be posting soon however I was just wondering if someone could help guide me through the process of finding out if the agreements are enforcebable.

As my Capital one is an older card im assuming that there is a chance that it may not comply with the CCA and therefore be uneforcable. Just wondering if anyone has any experience with these credit card companies and agreements.

I was also considering transfering my balance from my Virgin Card to Capital one however I was wondering if requesting a copy of the signed agreement will have any implications on my ablility to do so.

If anyone has any usefull information and guidence it would be greatly appreciated.

[clemma]

You are entitled to request copies of your CCA's at anytime and as it is your right, they cannot (and will not)hold it against you. This thread http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/105315-my-agreement-enforceable-useful.html gives lots of information as to whether an agreement is enforceable or not. The chances are that the Virgin card will be enforceable as it is an online agreement. However, Capital One may be a different story.

 

Once you receive the "agreements", scan and post them on here (omitting all personal details) and someone will be able to tell you for sure.

[cvpms]

Hi,

 

Thanks for your reply. I also applied for my Capital one Card online in 2005 is it still likely to be uneforceable given I applied on this way? I cant rememeber wether or not I was posted an agreement to sign after applying or if I it it was just a tick box to say I agree to all the terms etc. (As good as a signiture). I was also considering applying for disclosure via a court as it seems a lot of people get sent blank copies not the signed document. Also that its hard to get them to say if they have a copy of the agreement. The way I understand it if they cant produce a signed copy of the agreement then its as good as never existsing at all and therefore uneforceable is this correct?

 

Also if I go for disclosure can they make a counter claim? I dont want to run the risk of a CCJ againt me but I cant see how that would be reasonble if your just checking even if it is by order of the court. And it would definately stop them beating round the bush with the blank forms etc. Ive seen letters somewhere in the forum with letters stating that it is infact the signed copy of the agreement that is required specifically and also for them to state if they do or do not hold a copy I dont suppose you have a link to a draft similar to this? I just know what I will get in the post and it wont be what Im asking for. (the signed agreement)

 

Also if they have a signed agreement if this isnt set out as per the regulations does this mean it will be unenforcable regardless as to whether it is signed or not?

[maroondevo52]

Hello and Welcome, cvpms.

 

I'll move this thread to a Forum where you should get more help.

 

Regards.

 

Scott.

[mollyr0x]

Not sure about the Virgin but 2008 you would have ticked a box for the signature. Also I think the agreements were updated somewhat. Best waiting for someone with more knowledge on that.

 

As for Cap one, I have a card with them, took out the same time approx and I did sign for it.

[I've got no money]

I think that the starting point is to request the two CCA's - once you've got those you can post them and we can have a look to check enforceability.

 

1. The 2005 agreement - if it doesn't contain the prescribed terms (Credit limit, repayments, Interest rate) and/or you haven't signed it - then its' going to be unenforceable

2. The 2008 agreement - if it doesn't contain the prescribed terms and/or you haven't signed it - then it is only enforceable with a court order

 

The law on enforceability changed as of 2006.

 

But as I've already mentioned you need to get copies of the CCA's

[maroondevo52]

Hi, cvpms.

 

Regarding the online agreement.

 

As The Consumer Credit Act 1974 (Electronic Communications) Order 2004 came into force in December 2004 any online agreements entered into prior to this date still need a signed executed credit agreement.

Electronic signatures weren't considered valid until this date.

 

 

 

Also it would still have to contain all of the prescribed terms to be valid.

 

What are the prescribed terms

 

S61(1)(a) CCA provides that, for a regulated agreement to be properly executed, it must contain all the prescribed terms of the agreement and conform to regulations under s60(1)

 

Reg 6(1) provides that the terms specified in Sch 6 to the Agreements Regulations are ‘prescribed terms’ for the purposes of s61(1)(a) and s127(3)

 

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

 

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

 

* credit limit

* repayments

* rate of interest

 

Sch 6 was not amended by the 2004 Regulations

 

Regards.

 

Scott.