Can I do this?

[emmilou1]

sorry but technically they don't need to send you a statement until this october, so not sure if it would be considered a valid reason to put the account in dispute? check this out:

 

2 STATEMENTS

Statements for fixed-sum credit agreements

2.1 From 1 October 2008, creditors will be required by section 77A of the 1974 Act5 to provide debtors with annual statements in relation to regulated agreements for fixed-sum credit, such as loans and hirepurchase.

 

2.2 For agreements made on or after 1 October 2008, the first statement must be given within a period of one year beginning on the day after the day the agreement is made.

For pre-existing agreements, the first statement must be given within one year from 1 October 2008.6

Thereafter the creditor must give the debtor further statements at intervals of not more than one year, until there are no sums which are ormay become payable under the agreement.

[Karrie2129]

So they can just not bother sending me one? That's shocking...

[Fester Tester]

Where's that from Emmilou?

 

Here's s77a, as I understood it. Good to have preconceptions shattered. Thanks very much. LOL

 

77A Statements to be provided in relation to fixed-sum credit agreements

(1) The creditor under a regulated agreement for fixed-sum credit—

(a) shall, within the period of one year beginning with the day after the day on which the agreement is made, give the debtor a statement under this section; and

(b) after the giving of that statement, shall give the debtor further statements under this section at intervals of not more than one year.

(a) Regulations may make provision about the form and content of statements under this section.

(b) The debtor shall have no liability to pay any sum in connection with the preparation or the giving to him of a statement under this section.

© (4) The creditor is not required to give the debtor any statement under this section once the following conditions are satisfied—

(a) that there is no sum payable under the agreement by the debtor; and

(b) that there is no sum which will or may become so payable.

(d) Subsection (6) applies if at a time before the conditions mentioned in subsection (4) are satisfied the creditor fails to give the debtor—

(a) a statement under this section within the period mentioned in subsection (1)(a); or

(b) such a statement within the period of one year beginning with the day after the day on which such a statement was last given to him.

(e) Where this subsection applies in relation to a failure to give a statement under this section to the debtor—

(a) the creditor shall not be entitled to enforce the agreement during the period of non-compliance;

(b) the debtor shall have no liability to pay any sum of interest to the extent calculated by reference to the period of non-compliance or to any part of it; and

© the debtor shall have no liability to pay any default sum which (apart from this paragraph)—

(a) would have become payable during the period of non-compliance; or

(b) would have become payable after the end of that period in connection with a breach of the agreement which occurs during that period (whether or not the breach continues after the end of that period).

(f) In this section ‘the period of non-compliance’ means, in relation to a failure to give a statement under this section to the debtor, the period which—

(a) begins immediately after the end of the period mentioned in paragraph (a) or (as the case may be) paragraph (b) of subsection (5); and

(b) ends at the end of the day on which the statement is given to the debtor or on which the conditions mentioned in subsection (4) are satisfied, whichever is earlier.

This section does not apply in relation to a non-commercial agreement or to a small agreement.

[emmilou1]

yeah I know, we haven't had one in three years. You do get one with your credit agreement when you make a cca request though. Just had ours through. Plenty of dubious looking charges!

 

They don't want you to know what charges they are slapping on your account which is why they don't send statements

[Karrie2129]

Yeah thats what I am looking for. Just saw it on 2006 CCA. So does the implementation date of 1st October 2008 just erase the fact they haven't sent one prior to that? Just checked some things. I signed my agreement in late 2006, so surely they can't turn round and say that because of the amendment to the act that I have to wait until Oct 2009 for an annual statement? That's just crazy!

Edited August 28, 2009 by Karrie2129

[emmilou1]

It looks that way... we signed ours in mid july 06, requested a statement at least 8 times... never got one.

 

Theres alot of people in the same situation, in fact i'm yet to come across anyone who's had a regular annual statement from them.

 

I presume (if they are still around by then) that in October they'll be sending the majority of their customers statements.

 

Maybe i'm reading it wrong but thats the impression I get, maybe someone with a bit more experience with the consumer credit act could confirm it...

[Karrie2129]

It's seems pretty black and white... but it's def not right and if welcome know this they could be adding anything and we wouldn't know!

[emanevs]

send a Subject Access Request???

[Karrie2129]

Sent a CCA request already and asked for a statement. Just been checking on OFT website if I ask, they have to give me.

Edited August 28, 2009 by Karrie2129

[Karrie2129]

If anyone with a bit more legal knowledge could advise that would be very helpful. Not sure if the transitional provisions of the 2006 CCA mean that statements should be given. Thanks!

[emmilou1]

Sorry Fester, missed your post, here's the link to the page I was looking at, :

 

http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft1002.pdf

[emmilou1]

Karrie, regarding transitional provisions, it says to refer to schedule 3 think the bit you are looking for is here:

 

 

 

Section 69

SCHEDULE 3 Transitional Provision and Savings

 

Interpretation

 

1 (1) Expressions used in the 1974 Act have the same meaning in this Schedule (apart from paragraphs 14 to 16 and 26) as they have in that Act.

(2) For the purposes of this Schedule an agreement becomes a completed agreement once—

(a) there is no sum payable under the agreement; and

(b) there is no sum which will or may become so payable.

Statements to be provided in relation to regulated agreements

 

2 (1) Section 77A of the 1974 Act applies in relation to agreements whenever made.

(2) Section 77A shall have effect in relation to agreements made before the commencement of section 6 of this Act as if the period mentioned in subsection (1)(a) were the period of one year beginning with the day of the commencement of section 6.

3 Regulations made under section 78(4A) of the 1974 Act may apply in relation to agreements regardless of when they were made.

4 (1) Section 7(3) of this Act shall have effect in relation to agreements whenever made.

(2) A dispensing notice given under section 185(2) of the 1974 Act which is operative immediately before the commencement of section 7(3)—

(a) shall, on the commencement of section 7(3), be treated as having been given under section 185(2) as substituted by section 7(3); and

(b) shall continue to be operative accordingly.

 

I can't understand it personally lol

[Karrie2129]

I know.... me neither lol

[emanevs]

i thought SAR (and paying a tenner) is different from a CCA??????

 

:confused:

[Karrie2129]

Yeah it is. SAR covers more information. Will be sending one of those shortly..

[Karrie2129]

They have until tomorrow to comply with my request to send a statement. What should I do if it doesn't come and what should I be looking for if it does? thanks

[emanevs]

have they sent a reply to your CCA request? or is that what your post above means??

[Karrie2129]

I requested a statement and asked for it within 7 days. I also sent a CCA request at the same time.

Edited September 4, 2009 by Karrie2129
spelling

[emanevs]

i think you answered your own question earlier, unenforceable agreement.

 

do you need a letter to send for non compliance of CCA??

[Karrie2129]

Ok. Due to unforseen circumstances this month I have made my payment TWO DAYS late. Not happy as I have never been late/ missed a payment before. Anyway I sent a request for an annual statement by recorded delivery asking for it within seven days.That deadline passed on Friday. I also send a full CCA request which they have until tomorrow to comply with. Also requested that all communication be in writing only. I have had three phone calls so far! They just delight in making you feel bad.

[IainHL]

Yeah thats what I am looking for. Just saw it on 2006 CCA. So does the implementation date of 1st October 2008 just erase the fact they haven't sent one prior to that? Just checked some things. I signed my agreement in late 2006, so surely they can't turn round and say that because of the amendment to the act that I have to wait until Oct 2009 for an annual statement? That's just crazy!

 

Karrie, what we have here is a requirement of the 2006 Act that was implemented on 1st October 2008. So indeed Welcome do not need to provide an annual statement until October this year (I imagine there will be a very big printing run going on at Welcome Towers towards the end of September). This requirement to provide annual statements for fixed sum credit agreements was only introduced in the 2006 Act, presumably as a means to keep the consumer informed of what was happening on their agreement.

 

You say you signed your agreement in late 2006. However you also say you have had a couple of top-ups since then. These would have to be new agreements, properly signed and executed each time. Do you remember signing new agreements? Do you have copies of them? Obviously I don't know when you have had these top-ups, but please be aware if the last one was after October 2008 you would not expect Welcome to provide you with an annual statement until one year from that point.

 

It will be interesting to see what your CCA request brings.

 

Also note that I am not aware of anywhere in the Act where the creditor has to respond to a request to provide a statement withing 7 days. Therefore I am unsure as to what recourse you have if they have not complied. Better to wait for the 12 working days for a response to your CCA request (which should also provide a statement), as the steps you can take for their non-compliance are clearly laid out.

[Karrie2129]

Yeah thats what I thought so I will see what the CCA throws up. The last top up was before Oct 2008. More interested in the cancelled PPI and if my account was updated properly when I cancelled it also looking for any added charges that shouldn't be there since I have always paid in full . If my account is all above board then that's fine I will pay what I signed up to pay, I spent the money after all. But I think with Welcome you never know....and the 1st October is not that far away anyway....I am sure we will all be waiting by the letterbox! lol

[Karrie2129]

The postman has just been and no letter from Welcome. Oh dear Welcome.

[emanevs]

oh dear!! welscum

[IainHL]

But I think with Welcome you never know....and the 1st October is not that far away anyway....I am sure we will all be waiting by the letterbox!

 

Karrie, I don't know about you, but an annual statement for my secured loan arrived from Welcome in the post yesterday. Oh well, guess I'll have to keep on paying them!