CCA, charges & credit agreement

[Sand-Dancer0191]

This is a multiple agreement (ie.loan + ppi) the ppi should be included in the TOTAL charge for credit....BUT should have seperate details on apr,total cost of ppi and also how much each month for the ppi,this figure can then be added to the monthly repayment... need to see agreement to comment further

[Sand-Dancer0191]

OK this was a phone or online application with ppi and accident cover.Both can be reclaimed....but more importantly this agreement is unenforceable as per my last post.

Dec 07 over 24 mths.....Is it payed off or not? To answer your orig question YES you can reclaim both ppi & accident plan

Have you been Mis Sold PPI. (Some standard Conditions for PPI)

 

a) Payment Protection Insurance cannot be made a condition of obtaining a loan. (This is the most common reason for mis selling)

b) You are permantley resident within the United Kingdom

c) You are Over 18 and Under 65 at the commencement of your loan, and you will not reach the age of 70 during the insured term.

d) You are in Full time employment – Some policies define Full time employment as being working Over 16 Hours per week and that you have been in full time employment for at least 6 Months prior to the start date of the policy.

e) Pre Excisting Medical Conditions may also Invalidate your Policy

f) Some policies may cover if you are self employed.. Check your T & C first though.

 

1 You were not in work or self employed at the time of sale

2 You were told that you had to take the PPI out at the same time as the loan or not at all

3 You were not asked whether you had any other insurance which would cover the loan

4 You were not told you could buy PPI elsewhere to cover the loan

5 You were sold a policy which had age restrictions which you fell outside of

6 You were led to believe that Payment Protection Insurance was compulsory

7 You were told that you would stand more chance of getting the loan if you took the Payment Protection Insurance

8 It was not explained to you that there were certain exclusions within the policy that could affect you

9 You were pressured into buying the PPI

10 You paid upfront for the PPI but it was not explained that there were some PPI policies where you could pay monthly

11 Your PPI was an upfront premium and you repaid the loan early and received no refund

12 you increased your loan and the PPI was increased automatically

13 The Terms & Conditions of the small print were not fully explained to you

[Sand-Dancer0191]

I should outline the salient provisions of the Consumer Credit Act 1974. Subject to exemptions, a regulated agreement is an agreement between an individual debtor and another person by which the latter

provides the former with a cash loan or other financial accommodation not exceeding a specified amount. Currently the

amount is £25,000. Section 61(1) sets out conditions which must be satisfied if a regulated agreement is to be treated as

properly executed. One of these conditions, in paragraph (a), is that the agreement must be in a prescribed form containing all

the prescribed terms. The prescribed terms are the amount of the credit or the credit limit, rate of interest (in some cases),

how the borrower is to discharge his obligations, and any power the creditor may have to vary what is payable: Consumer

Credit (Agreements) Regulations 1983, Schedule 6. The consequence of improper execution is that the agreement is not

enforceable against the debtor save by an order of the court: section 65(1). Section 127(1) provides what is to happen on an

application for an enforcement order under section 65. The court "shall dismiss" the application if, but only if, the court

considers it just to do so having regard to the prejudice caused to any person by the contravention in question and the degree

of culpability for it. The court may reduce the amount payable by the debtor so as to compensate him for prejudice suffered as a result of the contravention, or impose conditions, or suspend the operation of any term of the order or make consequential changes in the agreement or security.

 

29 The court's powers under section 127(1) are subject to significant qualification in two types of cases. The first type is

where section 61(1)(a),

[2004] 1 AC 816 Page 834

regarding signing of agreements, is not complied with. In such cases the court "shall not make" an enforcement order unless a

document, whether or not in the prescribed form, containing all the prescribed terms, was signed by the debtor: section 127

(3). Thus, signature of a document containing all the prescribed terms is an essential prerequisite to the court's power to make

an enforcement order. The second type of case concerns failure to comply with the duty to supply a copy of an executed or

unexecuted agreement pursuant to sections 62 and 63, or failure to comply with the duty to give notice of cancellation rights

in accordance with section 64(1). Here again, subject to one exception regarding sections 62 and 63, section 127(4) precludes

the court from making an enforcement order.

30 These restrictions on enforcement of a regulated agreement cannot be sidestepped by recourse to a pledge or other form of

security furnished in support of the debtor's obligations under the agreement. The security is not enforceable to a greater

extent than the loan: section 113. Where an application for an enforcement order is dismissed, except on technical grounds

only, or the court makes a declaration under section 142 that the agreement is not enforceable, any security provided in

relation to a regulated agreement "shall be treated as never having effect": section 106(a). Property lodged with the creditor

by way of security has to be returned by him "forthwith".

 

XXXXXXXXXXX

You have a choice now.....Don't pay..Go to court..have it declared unenforceable

OR reclaim the ppi / accident plan and the charges with interest from 2007...which should be a hefty payout even with the outstanding ammount taken out..debt cleared

[Sand-Dancer0191]

The abouve quote was from lord nichols in the wilson/first county case in the supreme court.

The option you have chosen is the one I would have gone for......IT WILL take time but it will be worth it in the end.

Act now...and good luck

[Sand-Dancer0191]

As they havn't sent ALL info requested send a letter to welcome putting account in dispute.

Ignore DCA while welcome are dealing with the claim.

Total and claim all charges as DX has said plus the ppi etc

 

HOLD this back as your ace...file it away nice and safe

""They have just sent proof that the PPI and accident plan was never authorised! It looks like they have taken the liberty of filling in the insurance tick boxes and signature box themselves."":whoo: