HSBC OD issues

[Angel104]

I sent a CCA to a firm of debt collectors and the time limit is now up. What do I do next? Do I write to them and tell them that they are in default

[Curlyben]

Which time limit are you refering to ?

After 12+2 WORKING days the agreement is in default and payments can be stopped.

After a further MONTH they have commited a summary criminal offence.

 

Now my advice is to wait until they demand payment then make a report to Trading Standards about this matter.

[Angel104]

I sent of a CCA request to a firm of debt collectors last week. While I was out today they left a message on my answering machine saying they wished to discuss the matter over the phone. They said if I wanted to avoid legal action I had to phone them at once. I have not telephoned them as I am not sure what I should do next. Can someone please help.

[Having_A_Knightmare]

I am new but the general say on this site is "Never call them put everything in writing".

I would ignore them and what till there 12+2 is up then the ball is in your court.

[diskmandave]

To be frank, i'ld actually call them and ask if they've got the requested agreement, then when they say no tell them that it's them who're in trouble.

 

But, that's me.

 

Otherwise sit & wait for the default.

 

Regards, Dave.

[lookinforinfo]

Angel, once they have received your CCA request it effectively stops any

chance of them taking legal action until they have complied with your request.

 

You could write to them stating that you will only deal with them in writing and if they phone you again, you will report them for harassment. Then ask them on what basis they are considering legal action. Just that no more.

[Angel104]

I sent of a CCA request to experto credite- did not hear anything and they are now in deafault. They left a message on my answering machine yesterday asking me to call which I did'nt. Then today they left another message on my answering machine saying that they are not prepared to send the CCA because in their opinion it would be a waste of time. What do I do now?

[clutchingatstraws]

Ignore them they are obliged by law to supply it.

 

After 12 days the default.

[diskmandave]

Then today they left another message on my answering machine saying that they are not prepared to send the CCA because in their opinion it would be a waste of time. What do I do now?

 

Take the tape to Trading Standards!

[Angel104]

HSBC turned our overdraft into a loan we even signed paperwork. Experto credite have been demanding money and I sent off for a CCA and got no response. Now today they have telephoned and told me that because the loan comes under a current bank account it is not classified as a loan so therefore there is no credit agreement to send. I tried to explain that what we were given was a HSBC flexiloan and he said it made difference and according to him the CAB would tell me the same. Is this true?

[Angel104]

HSBC turned our overdraft into a loan- we signed agreement papers and the loan went into our current account. When experto credite started demanding money I sent of a CCA request and got no response. Today they informed me that as the loan went into a current bank account it is not covered by the consumer credit act so therefore we are wrong when we say that it is our legal right to have a copy of the agreement they said the CAB would tell us the same thing is this right?

[diskmandave]

:lol: Not laughed like that for years!!! :lol:

[diskmandave]

Stopped laughing now!

 

The loan agreement CCA request is covered by Section 77 of the Consumer Credit Act 1974.

 

77.--(1) The creditor under a regulated agreement for fixed-sum credit, within the

prescribed period after receiving a request in writing to that effect from the debtor and

payment of a fee of 1 Pound, shall give the debtor a copy of the executed

agreement (if any) and of any other document referred to in it, together with a statement

signed by or on behalf of the creditor showing, according to the information to which it

is practicable for him to refer,--

(a) the total sum paid under the agreement by the debtor;

(b) the total sum which has become payable under the agreement by the debtor

but remains unpaid, and the various amounts comprised in that total sum,

with the date when each became due; and

© the total sum which is to become payable under the agreement by the debtor,

and the various amounts comprised in that total sum, with the date, or mode

of determining the date, when each becomes due.

(2) If the creditor possesses insufficient information to enable him to ascertain the

amounts and dates mentioned in subsection (1)©, he shall be taken to comply with that

paragraph if his statement under subsection (1) gives the basis on which, under the

regulated agreement, they would fall to be ascertained.

(3) Subsection (1) does not apply to--

(a) an agreement under which no sum is, or will or may become, payable by the

debtor, or

(b) a request made less than one month after a previous request under that

subsection relating to the same agreement was complied with.

(4) If the creditor under an agreement fails to comply with subsection (1)--

(a) he is not entitled, while the default continues, to enforce the agreement; and

(b) if the default continues for one month he commits an offence.

 

http://www.crw.gov.uk/resources/consumercreditact1974.pdf

 

A word with Trading Standards won't go amiss either..

Trading Standards Central - Trading Standards and Consumer Protection information for the UK

 

Regards, Dave.

 

[rory32]

As Dave says a loan is a loan is a loan and it really doesn't matter that it was as a result of an overdraft. For the purposes of the Act the overdraft is irrelevant.

[Angel104]

Thank you dave I will contaxct their local trading standards on Monday. Apparently there is a letter on its way to me from experto credite so that will be interesting- if its a demand for payment they can get lost.

[rory32]

Out of interest when did you take out the loan and roughly how much was it for?

[Angel104]

We took the loan out about 2 years ago and it was for about £1500.

[diskmandave]

At the end of the day, what the loan was for is irrelevant, the fact that it was paid out directly to a bank account is none of their business anyway. The fact remains that it is a Section 77 loan, regulated by the Consumer Credit Act 1974, and the Statute timescales apply;

77(4) If the creditor under an agreement fails to comply with subsection (1)--

(a) he is not entitled, while the default continues, to enforce the agreement; and

(b) if the default continues for one month he commits an offence.

Don't forget to contact your local TS's it's always good to have them onside..

 

Regards, Dave.

 

[Angel104]

Story so far. HSBC turned our overdraft into a loan loan documents were signed. Due to financial problems got behind with payments. Got letter demanding money from experto credite- sent of CCA request got no response.

 

Yesterday man at experto credite tried to tell me that a bank current account is not covered by the consumer credit act so therefore they are not legally bound to send anything.

 

This morning got a phone phone call from man at experto credite wanting to know when they can expect a payment I told him that they are getting nothing until I have a copy of agreement.

 

Quote from man on phone: You have already been told that that due to the fact the money went into a current bank account we are not legally bound to send anything as a current account is not covered by the consumer credit act now it is not my fault that you do not have the intelligence to understand what we are saying.

 

Quote from me: No it is you that does not have the intelligence to understand that by law I am entitled to it.

 

Quote from man: The day you went into debt is the day that you lost all your legal rights go to your CAB and they will tell you this.

 

Quote from me: Thank you very much I will be going to see them.

 

Quote from man: Just one question were you really born this stupid!

 

At which point I hung up.

[Angel104]

If a bank current account is covered by the consumer credit act. Only some people telling me it and some are saying it is'nt. A DCA says it is'nt.

[maggieboo]

don't put up with that! communicate in writing only and tell them when they phone that you will only communicate in writing.

[Bookworm]

I assume you mean overdrafts and such likes? No, they're not, there is a special provision, I'll see if I can find it, I came across it a while back.

 

Edit: Well, I am not surprised you are getting different answers, since you don't see fit go give all the information! Having just had a quick look to your posts, I take it your question was relating to that loan for which the DCA is pursuing you? In that case, the info Rory and DiskmanDave gave you is totally correct, and you really should give all the relevant info if you don't want to get incorrect responses.

[patrickq1]

your bank account is covered by the consumer credit act read the faq at the begining and go through it you will find what you are looking for good luck angie if its trouble with dca then go to faq and find the section dca

[patrickq1]

i thought they were book because of unauthorised borrowing whitch i thought that came under its umbrella

[Bookworm]

Trying to make sense of it, TBH, Patrick.

 

I know I researched this a few months back, but damn if I can find the info now. However, at this point, it is irrelevant, as OP is asking about a loan (unless I am very much mistaken), so yes, CCA would apply anyway.