Dodgy credit agreement?

[beavis123]

My mate has CCA'ed Lloyds and this is what he got, obviously there is no interest rate but could somebody who knows their stuff please point out any irregularities within it? Thanks in advance...

 

[beavis123]

Am i right in thinking that it contains NONE of the prescribed terms ie. the interest rate, APR, credit limit and amount of repayments?

This looks like not much more than an applicfation form to me.....

[odds]

Anything on the reverse ? It certainly looks like an application form as it states at the top, but it also says agreement. But without the prescribed terms it would be unenforceable. Just my opinion.

[beavis123]

That's what i thought, just some T&C's on the back, parts of it are illegible and incomplete. I'm pretty sure that all parts need to be readable.

[Enron]

Regulations state that copies need to be easily legible, if its not then they havent complied with your request.

 

That said Lloyds in this instance would probably operate by procedure, rather than by law and regulations.

[Oldchap]

I've had the same from Lloyds, they attached T&C's on separate sheets with 17.4 referred to but missing. Several sections on the application had been tampered with and overwritten (not by me) they also changed dates so I'm going to throw it back at them.

 

They have continued to charge me interest and late payment fees and they took over £270 from my current account last month - all this despite the account being in dispute. I have now opened a bank account elsewhere and transferred over. I have also asked the FOC to get involved, although it could be sometime before I hear back.

 

Is there a letter template so to reply stating that they have failed to supply a 'true' signed legible copy and therefore they have not complied with request ?

Edited July 8, 2009 by Oldchap

[scrambledbyegg]

So what they sent needs to be legible? This is what they sent me, the DCA continues to hassle me even though I sent an account in dispute letter, they claim that Lloyds had told them that because payments had been made on the account in the past that this was sufficient proof that the debt existed.

lloydscc.pdf

[Oldchap]

Thanks scrambledbyegg

 

Is there a letter template anywhere, I've searched the threads but have not come up with anything.

 

Do you think they're right when they say that because you have paid in the past the debt exists ?

 

What's your next move ?

[odds]

Thanks scrambledbyegg

 

Is there a letter template anywhere, I've searched the threads but have not come up with anything.

 

Do you think they're right when they say that because you have paid in the past the debt exists ?

 

No one is denying the debt exists, and it always will. What you are questioning is whether they have a properly executed credit agreement. Which then gives them the legal right to collect on this debt. If they can't produce one they can't enforce it, but the debt is still there.

I hope that's cleared it up a bit.

[Oldchap]

I do not believe this is a properly executed agreement it is merely an application with some terms included so I have gone back to them disputing their claims.

 

I understand about the debt still existing but what powers do they have to collect on this should it be unenforceable ?

 

What, if anything, can they do to recover the money in such a situation ?

 

I am trying to preempt their next move.

 

Any help would be gratefully appreciated.

Edited July 21, 2009 by Oldchap

[angel17]

Sorry to hijack your thread, I have the same as above but without anything on the other side ie terms and conditions etc. Lloyds say this is the only copy of my agreement, it even has someone elses credit card number at the top, what would you advise please?

[Oldchap]

You're right, nothing on the back. They altered mine in several sections, including the date, there were missing clauses and it was also illegible. On page 2 it had been countersigned a year later.

 

I have sent a non-compliance letter to Lloyds and forwarded copies of all paperwork to the FOC.

 

I'm now waiting for a response from both.

[angel17]

Thanks for that! Please can I ask where you got the non-compliance letter from ?

[Oldchap]

From the debt collection library

 

Good luck