Termination Notices and Interest

[MrCollio]

Hopefully someone can help out with this question. Had a Credit Card and received a termination notice after sending a CCA request.

 

Account was then sold to our Friends in Leeds!!

 

They are now chasing and are adding interest to the account. Can they do this?

[sleepingdog]

Hi Mrcollio , what was the result of the CCA request. Did they send you a agreement if not then they can add whatever they like but without a valid agreement they won't be able to enforce it.

[MrCollio]

No I did not get an agreement back. I sent a CCA request then the alleged debt was sold to Lowells.

 

Me thinks no CCA.

 

But the question is can they add interest even after a termination notice?

[sleepingdog]

Bump

[banker_rhymes_with]

Hello MrCollio!

 

But the question is can they add interest even after a termination notice?

I think some recent Agreements allow this, but very few older ones.

 

Unless the Agreement specifically allows for post-Termination interest (in the event of a default on the part of the Consumer) after it has been lawfully Terminated following the issue of a valid s87(1) Default Notice, then they cannot add legitimate interest once the Agreement has been ended.

 

Lowells being Lowells, they could add anything they likes, such as: a Camel, a Turnip, a Pig, whatever, but it would be just as useless to them if they went anywhere near a Court!

 

The interest is almost certainly a low-life DCA trick to try and scare you into paying.

 

I'd consider a complaint to anyone who will listen (Trading Standards, FOS, FSA, your MP), perhaps based on The Consumer Protection from Unfair Trading Regulations 2008.

 

That should put Lowells back in their nasty box.

 

Cheers,

BRW

Edited January 4, 2010 by banker_rhymes_with
Typo

[teaboy2]

Did they send you a DN prior to terminated the account and if so was it a valid Default notice (if unsure post it on here and we can tell you if it was valid or not)

 

If they had not sent you a default notice prior to terminating the account then they will have unlawfully terminated the agreement and the debt is automatically unenforceable.

 

So let us know if you had the Default Notice or not.

[MrCollio]

Egg sent the termination and not Lowells. The termination notice looks OK. I will post it later in the week.

 

I then sent Egg a CCA request.

 

The next thing I knew is that the debt was sold to the Leeds loosers.

 

Me thinks no CCA hence the sale by Egg.

[MrCollio]

Good point about the DN I do not remember receiving one.

[teaboy2]

in that case its unlawful termination of agreement but it might be worthwhile subject access requesting EGG.

 

So just send egg a letter to confirm your acceptance of their unlawful termination of agreement. then sit back and relax