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I am looking for as much as info as I can regarding Default Notices issued for secured unregulated loans. I seemed to have hit a dead end here and seem to be going round and round in circles. This is my DN I received today,

 

 

 

 

I know that there are a few things wrong with this DN but need to back it up by law, but where do I get this info from? Have received a letter this morning from my solicitors saying that they will no longer be acting on a NWNF basis. I think I may have scared him off with all the info I sent him, but I am not really bothered.

 

I know that my loan agreement has many flaws, for one it does not state the Total Charge for Credit which has to be shown on all types of agreements since 31 May 05.

Edited by frettful38
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sorry its long

but everything you will ever want is here:

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/196312-invalid-default-notices.html

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks dx, I have already been on there and was advised to start my own thread. So I have and hopefully will get some advice on where to start getting the information needed.

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Have had a good look on the net for info but have come up short I'm afraid. Hopefully someone will have some guidelines somewhere and this can be explored fully.

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Thanks emandcole, vint has just replied on the Invalid DN thread and suggested that they may just get away with this something to do with de minimis whatever that is, I will need to explore. I have 15 days after all.

 

 

I have been reading this thread and post by elizabeth1 and believe that it has raised all the points that I have been searching to help me with my loan agreement.

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/171037-multiple-agreements-falling-within-4.html

 

I believe that my agreement falls in the multiple agreement category, is section 18 of the cca act still in force and can it still be used? I understand that there were a few cases that lost on this argument but the total charge for credit regulations and sec 18 of the cca act are the law and can they still be applied?

Edited by frettful38
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I am looking for as much as info as I can regarding Default Notices issued for secured unregulated loans. I seemed to have hit a dead end here and seem to be going round and round in circles. This is my DN I received today,

 

 

I know that there are a few things wrong with this DN but need to back it up by law, but where do I get this info from? Have received a letter this morning from my solicitors saying that they will no longer be acting on a NWNF basis. I think I may have scared him off with all the info I sent him, but I am not really bothered.

 

I know that my loan agreement has many flaws, for one it does not state the Total Charge for Credit which has to be shown on all types of agreements since 31 May 05.

 

I have been given 15 business days but even so that does not allow time for posting? Can anyone point me where I could get information about DN's for people who have secured loans please?

Edited by frettful38
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Hi Frettful

 

Sorry to hear you are in this trouble with Blemain and not getting anywhere with a decent solicitor too!

 

I am afraid I have not learnt any more than I have already seen you have been advised today but I am a litlte concerned about the CCA DN rules.

 

If you are not under the CCA1974 how can the CCA rules on DN apply?

 

I'm sorry if I have got this round my neck but please be careful!

 

We have had some great information just lately on these unfair relationship rules but it still means nothing if we can't get a solicitor to take it on. If anyone knows of someone please, please let frettful know otherwise we just keep going round and round in circles.

 

Good luck and I will be keeping everything crossed for you.

 

Cupcake

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Thanks for your support cupcake, really appreciate it. Hopefully something will come good of all this. I am waiting on a few things to come back. Even though my loan may not be covered by the CCA1974 but there are certain requirements that all lenders have to apply with when issuing a DN, and just because it is not covered by the CCA1974 does not give them the right to get away with whatever they want.

 

I will get to the bottom of this and find out where I stand with my loan agreement. So far I don't even know what sort of loan agreement it is.

 

Here is the response I received from my solicitor today, load of codswollop if you ask me.

 

 

 

Can you see that Blemain Finance wrote to my solicitors on the 10 March 10 and my solicitors only sent me this today.

Edited by frettful38
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Hi Frettful

 

The solicitors wrote a very poor letter! Blemains letter totally lost me!!! I'm guessing it scarred the solicitor off.

 

How many payments have you missed? Is there not some kind of government guidelines now that they have to give you a fair amount of time to get sorted before they start harrassment? I'm guessing this may be retaliation (sp??) for you daring to question how they go about their business!

 

Take care

 

Cupcake

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I believe that yes my solicitors have been scared off not only by blemain but all the info that I have been sending them too, but I will not let this put me off.

I have been reading that all types of agreement have to contain the words "total charge for credit" in them and your agreement is similar to mine.

Have you read this info in the TCC Regs? there is a lot of info to out advantage in there. I am going to continue to search and find the answers I am looking for with the help of others and my own investigating too.

Not too worried about the arrears as I will be able to get some help from my family if I start to sink, but in the meantime I want Blemain to answer my questions.

 

Also no where on my loan agreement does it state that "YOUR HOME WILL BE REPOSSESSED IF YOU DO NOT PAY" this also is a requirement in all types of agreements too.

Edited by frettful38
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No where did you find tcc regs info? I am off to look at my agreement to see if it has that written!

 

I have had my SDAR from my broker returned asking for copies of passports of people I have never heard of!!

 

Cupcake

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Hi cupcake, here are a few links which are very interesting reading

 

http://www.bis.gov.uk/files/file53304.pdf

 

LACORS - Subject Content Details

 

Property Law UK

 

PLC - Consumer credit law reforms: Challenges for the industry

 

I have got a good copy of the TCC but having a bit of trouble loading it up. I will keep trying and hopefully you will find it helpful.

found it!

 

http://www.probonogroup.org.uk/lawworks/docs/training/winter06/Consumer%20Credit%20agreements%20regs%2014.11.06.pdf

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Hi fretful 38 with regards to your DN as long as these words are on there.......

 

"IF THE ACTION REQUIRED BY THIS NOTICE IS TAKEN BEFORE THE DATE SHOWN NO FURTHER ENFORCEMENT ACTION WILL BE TAKEN IN RESPECT OF THE BREACH and IF YOU DO NOT TAKE THE ACTION REQUIRED BY THIS NOTICE BEFORE THE DATE SHOWN THEN THE FURTHER ACTION SET OUT BELOW MAY BE TAKEN AGAINST YOU [OR A SURETY],

 

may be compliant.....pt2537 states it here & the case law you may be looking for http://www.consumeractiongroup.co.uk/forum/dca-legal-successes/145452-stayingcalm-abbey-no-cca-5.html#post1697843

 

Hope this is some of the information you were wanting confirmation of. :roll:

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Hi fretful 38 with regards to your DN as long as these words are on there.......

 

"IF THE ACTION REQUIRED BY THIS NOTICE IS TAKEN BEFORE THE DATE SHOWN NO FURTHER ENFORCEMENT ACTION WILL BE TAKEN IN RESPECT OF THE BREACH and IF YOU DO NOT TAKE THE ACTION REQUIRED BY THIS NOTICE BEFORE THE DATE SHOWN THEN THE FURTHER ACTION SET OUT BELOW MAY BE TAKEN AGAINST YOU [OR A SURETY],

 

may be compliant.....pt2537 states it here & the case law you may be looking for http://www.consumeractiongroup.co.uk/forum/dca-legal-successes/145452-stayingcalm-abbey-no-cca-5.html#post1697843

 

Hope this is some of the information you were wanting confirmation of. :roll:

 

Thanks MDAW but have you seen my DN in my 1st post and is that what you mean?

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Thanks MDAW but have you seen my DN in my 1st post and is that what you mean?

 

Yes hence the rolling eyes :roll: wondered if what PT had posted was what you were looking for confirmation of y'see

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Yes hence the rolling eyes :roll: wondered if what PT had posted was what you were looking for confirmation of y'see

 

 

its a good start MDAW, but don't know if that applies to my DN. Really would love PT to have a look and see what he thinks.

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the thread also contains on posting 24 by PT what the language of a default notice should be based on inc the way it should be framed/lettering etc, may be worth you scrutinising it against your copy....I hope you have some flaws to it after all. http://www.consumeractiongroup.co.uk/forum/dca-legal-successes/145452-stayingcalm-abbey-no-cca-2.html#post1540178

 

Hope PT will jump onboard for you....in the meantime do also have alook further at posting #178 onwards too

http://www.consumeractiongroup.co.uk/forum/dca-legal-successes/145452-stayingcalm-abbey-no-cca-9.html#post1738026

 

should continue to prove useful information I hope.....MDAW

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Hi cupcake, here are a few links which are very interesting reading

 

http://www.bis.gov.uk/files/file53304.pdf

 

LACORS - Subject Content Details

 

Property Law UK

 

PLC - Consumer credit law reforms: Challenges for the industry

 

I have got a good copy of the TCC but having a bit of trouble loading it up. I will keep trying and hopefully you will find it helpful.

found it!

 

http://www.probonogroup.org.uk/lawworks/docs/training/winter06/Consumer%20Credit%20agreements%20regs%2014.11.06.pdf

 

Thanks Frettful

 

I am making my way through the thread but the first one doesn't come into effect until June 2010 and says it does not apply to agreements taken out before then. Or do I need to keep reading? (Not good at taking all this in - especially on a friday night!!)

 

Cupcake

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the thread also contains on posting 24 by PT what the language of a default notice should be based on inc the way it should be framed/lettering etc, may be worth you scrutinising it against your copy....I hope you have some flaws to it after all. http://www.consumeractiongroup.co.uk/forum/dca-legal-successes/145452-stayingcalm-abbey-no-cca-2.html#post1540178

 

Hope PT will jump onboard for you....in the meantime do also have alook further at posting #178 onwards too

http://www.consumeractiongroup.co.uk/forum/dca-legal-successes/145452-stayingcalm-abbey-no-cca-9.html#post1738026

 

should continue to prove useful information I hope.....MDAW

 

Thanks so much for that MDAW, this is very helpful and I will be having a good read and get back to you when I have found what I am looking for.

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I maybe wrong about this but, according to my understanding, Mortgages or Further Advances that are secured on land are exempt under the Consumer Credit Act.(section 16)

 

However if part of the mortgage or Further Advance is to refinance a secured loan or existing debt that was covered by the CCA, isn't this a modifying agreement which means that section 82 can be used?

__________________

 

Changes made to the consumer credit act

 

Section 82(2) of the CCA, states that an agreement which varies or supplements an earlier agreement shall be treated as revoking the earlier agreement and effectively creates a new regulated agreement. Section 16(B) states that the Act does not regulate a consumer credit agreement by which the creditor provides the debtor with credit exceeding £25,000.00 if the agreement is entered into by the debtor wholly or predominantly for the purposes of a business carried on or intended to be carried on by him.

 

So I cannot really understand the above statement correctly. Please could someone help in laymans terms. As I understand it this means that regardless if my agreement is exempt from the CCA 74 regs, as I had to pay off my existing debt with previous second charge lender then this has altered my current agreement and as it is modified is CCA regulated?

 

please anyone?

Edited by frettful38
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Hi Frettful

 

I'm in a similar boat - unregulated agreement c. £35K but is hire-purchase and not a secured loan.

 

I've come up against the same problem - no CCA protection.

 

The DN issue is very hard to understand and I have not yet found any legislation that covers DN's issued under a non-regulated credit agreement.

 

However, Section 140 of the CCA does apply to unregulated loans and it is well worth looking at this. This is the unfair relationship test. If you claim the contract is an unfair relationship, it's up to the bank to prove otherwise. If they can't, then you can claim back all amounts paid and write the debt off.

 

This is nicely summarised in the OFT documents 854 ("Unfair Relationships") and 331 ("Unfair Terms"), which are easy to find on the OFT website. Both these show how s140 applies.

 

However, you'll need to have an ag + T&Cs that contain unfair terms. Is your agreement and T&Cs a bit iffy in any way? If so, maybe s140 is the way to go? I know you have already considered this in early posts.

 

Hope this helps. If I find anything on unregulated DN's I'll post it here.

 

LA

:wink:

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S87 of the CCA 1974 says:

87.--(1) Service of a notice on the debtor or hirer in accordance with section 88 (a default notice) is necessary before the creditor or owner can become entitled, by reason of any breach by the debtor or hirer of a regulated agreement,--

(a) to terminate the agreement, or

(b) to demand earlier payment of any sum, or

© to recover possession of any goods or land, or

(d) to treat any right conferred on the debtor or hirer by the agreement as terminated, restricted or deferred, or

(e) to enforce any security.

emphasis mine. I don't think they need to issue a DN to enforce an unregulated agreement.

Steven

 

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