Virgin / MBNA Mastercard Credit Agreement - 07/08/2006 - Is My One Enforceable?

[Akamas]

Hi all, just wanted to start a new thread for advice on my credit agreement.

 

I recently sent a CCA request and the obligatory £1 postal order to MBNA and received the following documents just within the 12+2 timeframe:

 

Page 1

Page 2

Page 3

Page 4

Page 5

Page 6

Page 7

Page 8

Page 9

 

Does anything appear wrong with this agreement? Or does it look enforceable?

 

Thanks in advance.

[supasnooper]

Hi there, welcome to CAG.

 

Looks enforceable to me.

 

As you applied online, a tick will suffice for your signature.

 

Here's the legislation for this - The Consumer Credit Act 1974 (Electronic Communications) Order 2004

 

 

Have a look at these links which may help you understand the enforceabilty of the paperwork (courtesy of 42man & steven4064) -

 

 

Is My Agreement Enforceable - Useful

 

 

Consumer Credit Agreements

 

Have MBNA sent you a Default Notice served under s87 of the Consumer Credit Act 1974 ?

[Akamas]

Thanks for the quick reply! I have been reading through the forum quite a lot regarding my credit agreements and did beging to think this MBNA one might be the only one to be pretty much airtight. Is there anything other than the tick/signature that might be wrong, for example prescribed terms, interest rates, charges etc?

[scarydays]

Hi there, I have received an agreement from MBNA which is almost identical to the one you have received. However, I believe they have simply typed this up as the address showing on mine is my current address - and not the address I was living at when the agreement was taken out. Is is possible that they have simply constructed an agreement - and if so, how would I prove that?

[Akamas]

Yes they are able now to re-construct an agreement now, Judge Waksman threw out a load of cases recently and made a statement along the lines that it was acceptable for them to supply a re-constructed copy to satisfy a s78 request, and that we should consider that a 'true copy'! He went as far as to say that it did not need the signature on it and that the address could be added at a later date. What they cannot do with such an agreement is enforce it in court to get a charging order etc. Judge Waxman was basically reinforcing the oppinion that a s78 request is more to satisfy the publics right to information, rather than for them to speculatively request the agreement and then to refuse to pay if the creditor cannot produce it.

 

The problem we are facing with our agreements is that the law had changed by this date to allow ticks on a website box to be a valid signature. This means that it becomes very hard for us to contest whether they have the original agreement, because the original agreement was just a digital page on a website with a checkbox!

 

If you had signed an agreement by hand, and they cannot produce that agreement, then you can claim the account is in dispute until they do produce it. Or you could wait for them to take you to court, and then low and behold produce a valid signed agreement just in time! This has already happened to a few unlucky souls...

 

If you signed up online, then I am not sure what you can do. You might have to go down the route of offering them token payments of £1 a month and requesting that they freeze any interest and charges. If you have a property in your name, or are a joint owner, they may decide to just push for a charging order and basically treat your debt as your responsibility and that you are entirely to blame. The reason they will be far more likely to accept token payments of £1 than to accept no payment at all for a long period of time is due to the Statute of Limitations. If a long period passes with no payment or acknowledgement of debt, creditors start to become worried that you will just dodge paying it entirely. After 6 years have passed they will be unable to recover anything and it will be written off, so they want you to pay them something as it is almost like them keeping a tube in place to drain your blood at a later stage!

 

The more I read about the law in the UK, the more I want to emigrate. The more Judges there are limiting our options through morally corrupt means and protecting the large corporations of bankers, the more I want to leave and never return!!!

 

Take a look at this link:

 

http://business.timesonline.co.uk/tol/business/law/reports/article6995381.ece

Edited March 20, 2010 by Akamas