Cahoot Terms & Condition s - Help please

[ORACLEMAN]

I took out a Cahoot around 5 years ago. On checking the documentaion I only have a covering letter and a document called "Terms and conditions - cahoot flexible loan"

 

The credit agreement makes reference to a "General Terms and conditions" presumably these were on their website as I don't have a copy.

It also states "By signing this agreement you confirm you have read and accepted the cahoot general terms and conditions and the cahoot flexible loan terms which are enclosed"

 

On this basis I have no info on how they can change the interest rates, as I don't have a copy of the T&Cs that say given 30 days we can increase your rate to whatever we like...

 

From google I found that the Consumer Credit Act 1974 - Part VIII says..

"Certain other formalities must be observed;

under Section 105, a security is not considered properly executed unless a

document is signed on or on behalf of the debtor. This document must conform to certain regulations;

the terms must be legible when it is presented to be signed, it must give all the terms and conditions other than implied terms, a copy must also be presented and if the security is provided before the regulated agreement is made, a copy of the security agreement must be given to the debtor within seven days of the regulated agreement being made.[45] If the formalities are not complied with the security agreement becomes unenforceable without a court order.[46] The Act does not provide for any civil or criminal sanctions for creditors who enforce the agreement

without a court order, however, but it may lead to the revocation or suspension of the creditor's license.[47]"

 

I read this that they should have sent me a copy of the FULL T&C's with the document to sign.

 

Would welcome comments. I want to take the line that any increase in interest rates in null and void as I never received full t&Cs. But how do I word this ?

 

Thanks

Edited November 11, 2011 by ORACLEMAN

[rebel11]

Thread moved to the correct forum.