A Little Advice and Help Please

[MISSION]

Hi all,

First time poster

I have a couple of issues I would like help with please

Can a creditor purchase a credit card account from another creditor and then turn that credit card into one of there own.? E.g. say I had a credit card with The Bank of Scotland and then this account was sold to MBNA, could MBNA then turn the credit card into a MBNA credit card? if so what would have to be done for this to happen.?

My other issue is that I have a creditor that has stated that they have destroyed my loan agreement. I understand that a creditor has to keep agreements for a number of years which I believe is stated within the Limitations Act but I am having problems finding the info.

Would appreciate some help

Many Thanks

MISSION

[BRIGADIER2JCS]

YES, the debt purchaser owns the account, paperwork must be kept for 6 years after the account is closed.

[MISSION]

Thanks Brigadier for your fast responce

 

So if MBNA purchased the account from The Bank of Scotland then turned the credit card into a MBNA credit card

would they not have to provide a new CCA between MBNA and myself??

 

Thanks

 

MISSION

[BRIGADIER2JCS]

No the original ts & Cs would remain in place, it's common practice when a brand is sold as for instance when Barclays aquired the EGG brand.

[unclebulgaria67]

Thanks Brigadier for your fast responce

 

So if MBNA purchased the account from The Bank of Scotland then turned the credit card into a MBNA credit card

would they not have to provide a new CCA between MBNA and myself??

 

Thanks

 

MISSION

 

When another bank takes over your credit card, they send you a letter advising you of this. The exisiting terms for the card apply. In the letter it does advise you of the opportunity to stop the card account, if you do not wish to continue with the new provider. But as this means settlement of the full card balance within 30 days I think, many people just continue.

 

As for the other debt with the missing loan agreement, when was the original loan taken out, how did you take it out and when did you last make any payment towards it ?

[BRIGADIER2JCS]

Thanks Brigadier for your fast responce

 

So if MBNA purchased the account from The Bank of Scotland then turned the credit card into a MBNA credit card

would they not have to provide a new CCA between MBNA and myself??

 

Thanks

 

 

 

 

 

 

 

 

 

MISSION

 

The creditor may have destroyed the hardcopy 0f the agreement due to age BUT may have a microfiche stored, a SAR specifically requesting such may be useful.