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what date was the agreement signed

month/year

 

have a nose at the consumer credit act 127 (3)

 

just getting you to try and understand this

 

i wont leave you in the lurch though

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I will take a nose later when things slow down a bit at work Post. I really want you to know how much I appreciate your help. I am just a little worried today after getting that Default Notice.

Will the F.O.S. pick up on these contract problems without me telling them ? And do I send on this Default Notice to them ?

 

Re-write signed 29/7/08.

 

Does this mean my dispute is no good ???

Edited by pwg6565
Added info.

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do not do a thing with the default notice

 

thats your ace in the hole

 

if they issue a claim against you, all they will be entitled to are any arrears up to the default notice, thats it

 

pay that with in 28 days and no ccj and kiss the rest goodby

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That sounds better. Will just ignore the notice for now. Do I just wait now and see what happens regarding F.O.S. and Default etc ?

 

Found this.

 

Consumer Credit Act 1974 s 127(3)

As the draftsman of the Consumer Credit Act 1974 I would like to thank Dr Richard Lawson for his interesting and well-argued article (30 August 2003) on Wilson v First County TrustLtd [2003] UKHL 40, [2003] 4 All ER 97.

Dr Lawson may be interested to know that I included the provision in question (section 127(3)) entirely on my own initiative. It seemed right to me that if the creditor company couldn’t be bothered to ensure that all the prescribed particulars were accurately included in the credit agreement it deserved to find it unenforceable, and that the court should not have power to relieve it from this penalty. Nobody queried this, and it went through Parliament without debate. I’m glad the House of Lords has now vindicated my reasoning and confirmed that nobody’s human rights were infringed.

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Sorry to jump in

Post, im assuming wilson v first county trust ltd would be helpful in my case due to prescribed terms not being accurate?


I am a consumer just like you, please get a second opinion or investigate yourself on anything I advise as I am in no way legally trained. Everything I know has come from the Mighty CAG and fellow CAGGERS. :cool:

 

If I have helped in any way please click my reputation star and make a donation to CAG to enable us all to continue to help each other :cool:

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All In Hand Beyond For Obviouse Reasons

 

All Will Become Clear

 

Ime Having To Double Check On The Amendmants April 2007 CCA 1974

 

Dont Want To End Up With Egg On My Face

 

IS MY AGREEMENT ENFORCEABLE( Via section 127(3) CCA1974)

PRESCRIBED TERMS FOR THE PURPOSES OF SECTIONS 61(1)(0) AND 127(3) OF THE

CONSUMER CREDIT ACT 1974 Taken from sced.6(1983/1553) regulations

(If you just want to find out, skip the bits in between the stars it’s just some extra information)

 

**What do we mean by unenforceable?

In the Consumer Credit Act section 127 there is a provision for making an agreement unenforceable if it does not contain certain pieces of information.

Subsections 1,2,3,4 state which pieces of information these are, and everything mentioned there must be included within the body of the agreement, if one is missing the agreement is unenforceable.

 

How does unenforceable differ from enforceable with a court order only?

When an agreement is unenforceable it means that the court or the judge cannot make a ruling on it. The court cannot make it enforceable.

When an agreement is enforceable only by ruling of the court it means that the agreement can be stopped by the debtor but the court has the power to re-instate it and allow the credit to continue to enforce.**

 

The Pescribed Terms are these

 

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 interestlink3.gif

A term stating the rate of interestlink3.gif 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.

--------------------------

 

Which of these applies to you depends on the type of agreement you have?

 

For a Running Account (credit card) agreement

 

BC and D Apply

 

 

 

 

For a Restricted Use Debtor Creditor Supplier

  • Where the dealer is the supplier and the creditor is the one providing the finance.
  • The money can only be used for the purpose it is given.
  • There is no interestlink3.gif on the purchase (the cash price is the same as the total price)
  • And there is no advance payment

A is applicable

 

For a fixed Sum Credit Agreement

A conventional credit agreement with none of the above restrictions

 

A and B apply

 

For a Hire Agreement

 

B is Applicable

 

This paper only covers section 127(3) of the Act agreements can also be unenforceable by contravention of sections 1 and4 this will be the subject of the next paper.

Please note that these Prescribed terms where not changed in any way by the 2004/1482 Ammendments although the form in which they appear on the agreement was. Subsection127(3) was repealed on the 6th of April 2007 so that unenforceability due to 127(3) will only apply to agreemens executed before that date.

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No worries post just want to read up and understand what im going with so to speak :)

 

so for a hp agreement it would be repayments....is how im reading it anyway...sorry pwg will stop jumping on your thread and go ponder outloud on my own lol


I am a consumer just like you, please get a second opinion or investigate yourself on anything I advise as I am in no way legally trained. Everything I know has come from the Mighty CAG and fellow CAGGERS. :cool:

 

If I have helped in any way please click my reputation star and make a donation to CAG to enable us all to continue to help each other :cool:

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Thanks for that Post. It will take a while for me to digest and hopefully understand. I get the idea that when the contract was given to me it was not clear exactly how much it was going to cost ?? Therefore did not show the true amount payable ??

Will the F.O.S. pick up on these bits of information that are so important or do I need to tell them ??

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Its Starting To Click Pwg

 

Bingo

 

Might Be Worth Giving A Mention To The Fos That One

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I do try to understand and do a lot myself but knowledge is still very limited. At this stage is there anything else I should mention because I know you suspect more errors ? In your opinion do you think Welcome will play there hand with this Default or do you think it may be a threat because of the contact they have had from the F.O.S. ? How could they be so stupid to mess up on the Default which was not even signed and printed over a week ago ??

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Welcome Will Not Dare Do Anything With The Fos Involved

 

Check Back Tomorow Evening And I Will List All The Things Wrong With The Agreement

 

Just Getting Your Gray Cells Going So You Can Help Future Caggers

 

Dont Tell No One On The Crap Default Notice And I Mean No One

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All understood Post and once again very much appreciated.

I do try and help out others on here and am picking up bits and bobs from yourself and I will take this all the way with your help !! No backing down until the end result !!!

 

Are the figures left out to stop people from actually seeing what they would be paying back over a period of time ? If that is the case how can this be legal at all.

I am sure if it had been expalined to me in the way you did that I would be repaying over £ 73000 when I didnt even get a cheque I would have said get stuffed !!! I feel mugged off at this moment in time !!!

 

I hate to think how much of that original £23,000 includes all those charges in the first place. Do you know I only remember ever getting £ 5000 cash off this lot.

 

monthly payment £245.98

interestlink3.gif £50,609.61

total payable £73,792.78

 

welcomes total payable is £73932

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Thats Why You Get Not Total Amount Payable

 

No One Would Take The Loans Other Wise

 

It Stinks

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How have they got away with tricks like that for so long ? It is so unfair and I thank you for pointing it out.

They must be aware that my contract stinks and should say the full amount payable ?

How will a judge see the CCA Post ?

 

Just a question everyone.

Is it possible for someone to put a claim in against Welcome for the problems they have caused with peoples personal life ie, stress, harrassment ??

 

Seems as though Welcome are busy this week. Recieved a Notice of Default Sums today, another £ 10 added. Thought they could not add these charges with account in dispute ?

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They cannot and when a resolution is being reached the condition of your acceptance will be that all the fees for letters CCA and SAR and charges and interest is adjusted accordingly.


I am a consumer helping other consumers. Together we can and will make a differance. Please double check any information or advise I may give as I like yourself am learning as I go along in life.

1) give a small donation to this site to keep it going because without this forum I would know nothing.

2) Use your experience to help somone else on another thread.

 

Please do not PM me, my mail address is my username at this site address . I will not under any circumstances give out advise or help through mail, only on the open forum, however feel free to mail me to point me towards your thread and general talk etc.

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I got one of these today aswell, I have 3 complaints ongoing with the FOS. seems like welscum can do what they want.


As always please check and double check what myself and other Caggers inform.

 

If you like my Post please dont be shy give my Scales a little tickle :-)

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We got a default sums letter for £25 today and yet they would have received my letter putting the account into dispute on Tuesday because of them mis staing the APR.

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We will be claiming all this back but as an addition to whatever our dispute is before it is resolved.


I am a consumer helping other consumers. Together we can and will make a differance. Please double check any information or advise I may give as I like yourself am learning as I go along in life.

1) give a small donation to this site to keep it going because without this forum I would know nothing.

2) Use your experience to help somone else on another thread.

 

Please do not PM me, my mail address is my username at this site address . I will not under any circumstances give out advise or help through mail, only on the open forum, however feel free to mail me to point me towards your thread and general talk etc.

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Right Postggj.......

 

Its my last night at work this week and I would like to get to grips with this follow on letter to the F.O.S regarding contract failures etc.

 

So any news please ????

 

Lets get cracking. I really want to have a crack at this Welcome bunch !!!!

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we will do it this weekend ready for monday

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Thanks dawny. How you doing ?

 

Not bad thanks pwg.

No response to our account in dispute letter yet....We havn't signed the new agreement they sent us but have today received a final settlement figure from them of 65% of the balance owing.....which is still about 50% more than he borrowed LOL

Why dont they answer the questions we ask instead of sending something totally different???:?:

 

Dawnx

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They seem to take an age Dawny. Must be all of the complaints they are dealing with...Or not dealing with !!!

 

Ozzy and Beyond...Need to send something off to F.O.S. regarding contract failures, Post did the figures for me but I have waited a couple of weeks now and dont have anymore info....Can you help please ???

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so you have a £23183.17 loan over 300 months (25 years) @ 12.8 % apr

 

you ready for this

 

 

monthly payment £245.98

 

 

interest £50,609.61

 

 

total payable £73,792.78

 

 

 

welcomes total payable is £73932

 

 

 

 

total charge for credit should be (m) acceptance fee £235

 

 

mif (n) £0.00 and £50609.61 interest

 

 

 

total charge for credit £50844.61

 

 

 

total amount of credit has been mis-stated

 

 

total amount payable has been mis-stated

 

 

apr is in tolerence level

 

 

its 13 % the true figure but needs to be 0.5 below or 1 % above to make a difference

 

 

 

These are the figures that were hidden when I signed the re-write.

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