Dca Statements Of Account

[angry cat]

Many including me are receiving 'Statements of Account' form purported Assignee's. To date, I have received two;

one from Lowell;

one form Link Financial.

Neither of which hold valid Consumer Credit Agreements!

 

Please read the following link:

A guide to the information required on credit statements

 

Does anyone know what the implications are, when the accounts have been and still are in dispute.

 

There is mention of sending a dispensing notice, not sure ehat that is?

 

AC

[IdaInFife]

dca's only supply the data they hold on oyu so do not need to supply cca's under sar's to them , you would need this from the original lender/creditor.

 

unless dipusting dca charges or fees etc not much use sending a sar to a dca

 

ida x

[IdaInFife]

dipsensing notice is say you and spouse were both liable for an account - you can send a dispencing notice saying you only need one between the 2 of you so no need for them to send 2

 

ida x

[angry cat]

Err!

 

Under the new legislation they have to send them out along with the OFT explanatory leaflet.

 

I have been a loggerheads with 2 DCA's for some time both hold unenforceable agreements and I am in dispute re mis-sold PPI.

Both accounts are in a mexican stand off position.

 

My SAR (s) were made ages ago.

 

All of a sudden both send; statement(s) of account, which is a requirement under the CCA 2006; fully implemented 10/2008.

[angry cat]

Consumer Credit Act 2006 - BIS

 

AC

[angry cat]

I would say that most members have no idea, as to why DCA/Assignee's are sending out these;

Statement of Account(s).

 

The following link explains why:

 

Financial services - Consumer Credit Act 2006 - Post-contract information - Wragge & Co - UK Law Firm

 

AC

[IdaInFife]

Err!

 

Under the new legislation they have to send them out along with the OFT explanatory leaflet.

 

I have been a loggerheads with 2 DCA's for some time both hold unenforceable agreements and I am in dispute re mis-sold PPI.

Both accounts are in a mexican stand off position.

 

My SAR (s) were made ages ago.

 

All of a sudden both send; statement(s) of account, which is a requirement under the CCA 2006; fully implemented 10/2008.

 

I cannot see anywhere there it says dca's have to provide a copy of the agreement?

 

Ida x

[IdaInFife]

ahhh i read you OP worng i thought you were saying you sent the dca's a sar and they have not provided an agreement with your sar!

 

Ida x

[angry cat]

I would say that most members have no idea, as to why DCA/Assignee's are sending out these;

Statement of Account(s).

 

The following link explains why:

 

Financial services - Consumer Credit Act 2006 - Post-contract information - Wragge & Co - UK Law Firm

 

AC

 

A Quote forn the above link:

 

"...the 2006 Act and the Regulations oblige creditors for the first time to provide borrowers under fixed sum credit agreements with annual statements. Also, notices of arrears and default sums (not to be confused with default notices with which we are already familiar) are required to be sent for both fixed and running account credit agreements. And there's much, much more.

 

Like the rules of any good puzzle, the requirements for complying with the Regulations are exacting and highly prescriptive and there's a sting in the tale. If you comply and get it wrong in a material respect or if you fail to comply at all, the penalties are severe. Not only will you not be able to enforce your agreements until the error is corrected, you will also be prohibited from charging interest or default sums for the period of non-compliance."

 

AC