Cap One 2005 28 Days Default Notice Or 7???

[S8NDS]

Hi,

 

Back in 2005 The consumer credit act stated that a minimum 7 days notice had to be given for a default - I'm aware that this has now changed to 14 days. However the Banking Code section 13.7, Lending code section 7.5 and the ICO guidelines 33-34 all state that lenders are to give 28 days notice of the intention to file a default.

 

Capital One's terms and conditions state that "Subject to sending to a default notice , we may close your account and demand immediate payment of the outstanding balance. We will give you one months notice to put right any remediable breach"

 

Capital One is a member of the Banking Code and their default notice back in 2005 only gave 20 days before they actually filed a default with the Credit Reference agencies. So have they broken contract?

 

Or does this 28days just apply to a letter they can send and not actually the formal default notice?

 

I have asked for a copy of the default notice but they have been unable to supply that to me and instead sent a print out of a computer screen showing what date this default notice was sent?

 

Any advice?

 

Thanks

[craigers]

I would indeed complain about the default. The banking code membership is almost like a selling point for accounts, so they have failed to act as they have claimed they would.

[postggj]

Rollocks

 

They Have To Have A Copy On File To Enforce

 

Computer Screen Shots Mean Nothing

 

Money Laundering Regs

 

Six Years From The Account Is Terminated Data Is To Be Held

 

Capone Fracked Up Again

 

O Dear

[S8NDS]

Thanks for the reply....I have already complained to Crap One but the are not budging. After many letters I am now thinking of taking them to court - Im just worried that the 28 days means any type of notice and not the formal default notice? Also another bonus is the first few letters from CRap One gave conflicting dates regarding the default notice - so I can inc that they did not store my personal data correctly?

 

thanks

[S8NDS]

postggj thanks - can u elaborate on the money laundering regulations

 

thanks

[postggj]

They Were Brought In Two Years Ago I Believe

 

All Financial Tranactions Have To Be Kept On File For A Period Of Six Years. If An Account Is Active, It Goes Six Years From When The Account Is Closed, Not Its Conception.

 

Variouse Creditors Tried This Under The Stat Of Limitations But As Its Financial, Not A Chance

 

All Info Ref A Credit Account Comes Under This Legislation

 

If They Have Confirmed No Default Notice Then they Cant Enforce The Agreement:D:D

 

IVE HAS TWO ACCOUNTS WRITTEN OFF ON THAT SCORE

[S8NDS]

thanks postggj,

 

The other thing is that as no money is owed on the account ~(account satisfied ) then apparently they do no need to send a copy of the default notice - which i think is correct. :sad:They have sent copies of all the transactions. I am trying to clear the default to get a better mortgage deal.

 

As the money laudering regs were bought in 2 years ago they wont apply back to 2005?

 

Help?

 

Thanks

[lookinforinfo]

They Were Brought In Two Years Ago I Believe

 

There were Money Laundering Regulations in 2001 and 2003

at the very least.

[postggj]

that there were but did they have any teeth back then

 

seems ime going to burn the midnight oil again

[S8NDS]

thanks lookinforinfo and postggj....postggj I dont want you stay up late to look - it cant wait till when you free!!!

 

thanks

[postggj]

its ok

 

leg in plaster so not sleeping much anyway