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bolder11

Missing total charge for credit. Agreement enforceable?

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Hi Everyone

 

I'm new to this forum. Its been incredibly interesting to read the debate on here re: enforceable credit agreeements and as a result I sent off to both HSBC (loan) and Halifax (Credit card) for a copy of my signed credit agreements.

 

HSBC have produced a copy of the signed agreement (dated Sept 2003), and it seems to have everything on it, apart from the total charges for credit. If I understand from the threads in other posts correctly, this is supposed to be provided on the credit agreement isn't it?

 

If this is the case, does it suggest that this credit agreement is unenforceable?

 

Does the fact that the loan interest was variable (base rate plus a %) make any difference to them providing a total cost of interest?

 

If it is unenforceable, what is my next step - is there a standard letter template for this? I can't seem to find one on the forum.

 

Many thanks

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you would have to post scans of the agreements on to the forum (minius any identifying details) so an expert can take a look at them to establish its enforceability

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OK, here is a copy of the credit agreement.

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So I guess due to the lack of response there is no-one qualified on this forum to advise on this issue? Do I need to go to Citizens advice or have a solicitor look at this? any ideas on my next steps?

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Your thread does seem to have been missed, I'm no expert on this type of variable loan, you could try pressing the red triangle at the bottom of the post and ask a site team member to have a look at it.

 

cds:)

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OK, here is a copy of the credit agreement.

 

 

TCC mising = improperly executed and enforceable at discretion of court.

 

Without figures we can't check if the amount of credit and/or repayments are correct


You may receive different advice to your query as people have different experiences and opinions. Please use your own judgement in deciding whose advice to take.

 

If in doubt seek advice from a qualified insured professional. Any advice I have offered you is done so on an informal basis, without prejudice or liability.

 

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Many thanks folks - I think I'll put that to HSBC and see what they say. I've checked out the payment amounts and term and all add up, so its just the total cost of the interest that I can take them up on.

 

meanwhile received the usual copy of most recent terms from Halifax for the credit card. Going to go the subject access request route and see whether I get any further with that.

 

Will let you know how I get on!

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With hsbc, where josie says that it is improperly executed that does NOT mean it's unenforceable, just that they have to get an order from the court.

 

Although, if it's got that far, hsbc default notices aren't compliant

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