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    • Hi,   Having had a PM exchange with Shamrocker (thank you) I've been advised to upload the General Order/Judgement that was sent to me at the end of September.  Can someone (possibly Andy) clarify that I need to complete a WS for my "side of the bargain".   Obviously, I have just received and uploaded the claimant's WS so I suspect I do, but the actual order was "vague".    Many thanks B   General Order & Direction Oct19.pdf
    • Hmm, so.. basically have to rely on the default notice not containing all that it should and the claimant misleading the court for the reason for the application.. and judge lottery : /
    • Which would require a hearing....so the fee would be £255.00
    • When providing a copy of an executed agreement in response to a request under section 78(1) of the Act:   a.     must a creditor provide a photocopy (or other form of complete copy) of the original agreement that was signed by the debtor or at least provide a copy which is derived directly from the original agreement or complete copy thereof? or b.     can a creditor provide a document which is a reconstitution of the original agreement which may be from sources other than the actual signed agreement itself?   It was held that a creditor can satisfy its duty under section 78 by providing a reconstituted version of the executed agreement which may be from sources other than the actual signed agreement itself.   The judge accepted that as a matter of law, section 78 does not itself require any particular explanation as to how the copy was made. However, as a matter of good practice and so as not to mislead the debtor, it is desirable that the creditor should explain that it is providing a reconstituted as opposed to a physical copy of the executed agreement. This will also explain why the copy might otherwise look a little odd. The creditor can also explain in the letter that this procedure is satisfactory under the Act. The judge also provided that the following information needs to be included in the reconstituted copy agreement (assuming of course that it was present in the original):   1.     Heading: Credit Agreement regulated by the Consumer Credit Act 1974 2.     Name and address of the debtor 3.     Name and address of the creditor 4.     Cancellation clause applicable to the executed agreement.   All of the above may be provided on a sheet which is separate from the full statement of terms and conditions which also forms part of the reconstituted agreement. The creditor may, however, decide to reconstitute the agreement in a different way so that, for example, the information above is populated electronically onto the same sheet as that which sets out the terms and conditions, or some of them. The judge stated that he did not intend to prescribe the precise form of the reconstituted agreement. The key point is what information it should contain, subject to the point that its format should not be such as to mislead the debtor as to what he agreed to.   The judge also considered whether a statement like the one appearing in the reconstructed application form in Carey referring to the agreement to the terms and conditions "attached" needs to be included in the reconstituted copy. Alternatively if the application form had said "I agree to the terms overleaf", should that statement be included. The judge held that this aspect of the form is not necessary for the purpose of the section 78 copy, although there is nothing to stop a bank from putting it in or indeed from furnishing a copy of the type of application form or signature page that the debtor would have signed, as some banks have done. The statement referring to terms and conditions is not itself prescribed information and the supply of the terms and conditions which were applicable at the time will tell the debtor what he needs to know in terms of the content of what he signed up to, including the presence (or otherwise) of the prescribed terms.   In practical terms what this is likely to mean is that if the creditor chooses to use as the section 78 copy the section 63 copy, which would have been provided to that particular debtor at the time following execution of the agreement, this will be sufficient provided that the information referred to above is supplied. This exercise is not a mere formality. The creditor will need to check carefully that the details of the debtor at the time are correct and that those are the particular terms (including prescribed terms) that he/she agreed to. This is to ensure that it is an honest and accurate copy.   Must a creditor provide a document which would comply (if signed) with the requirements of the Consumer Credit (Agreements) Regulations 1983 (Regulations) as to form, as at the date the agreement was made in order to comply with section 78?   A creditor need not, in complying with section 78, provide a document which would comply (if signed) with the requirements of the Regulations as to form, as at the date the agreement was made.   Must the copy provided under section 78 include the debtor's name and address as at the date when the agreement was made, and if so in what form? The section 78 copy must contain the name and address of the debtor as it was at the time of the execution of the agreement. But the creditor can provide the name and address from whatever source it has of those details. It does not have to take them from the executed agreement itself.     If an agreement has been varied by the creditor under a unilateral power of variation, is a copy of the executed agreement as varied, a sufficient copy for the purposes of section 78(1), or must the creditor provide a copy of the original agreement as well?   If an agreement has been varied by the creditor under a unilateral power of variation, the creditor must still provide a copy of the original agreement, as well as the varied terms.     As your agreement is post April 2007  Section 61(1)(a) and 127(3)   Consumer Credit Act 1974 would not apply.   Andy
    • well start a new thread for the court claim.   as for this one i'd await the letter of claim  
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nuclearshark

Is this CCA Enforcable please? PayDayUK / MEM Consumer Finance Ltd

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Hi,

 

As you'll have seen from my SpeedCredit posts. I have sent out CCA Requests to all the PDL Companies.

 

I received a reply from MEM Consumer Finance Ltd aka PayDayUK.

 

I have attached the letter and agreement they have sent me (omitting my personal details) It is reassuring they haven't tried to "lift" my signature from the letter. I've heard of some PDL and DCA organisations being dishonest about signatures... So the siggy on the letter wasn't mine! :-):oops:

 

Anyway. Could some of you excellent and knowledgeable people please give me some advice on this attached CCA.

 

Regards,

 

NukeShark :)


This is how I spend most of my life :ranger:

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Hi,

 

I agree with MEM that this debt is enforceable. The electronic signature you gave is valid. They "only" want original loan amount plus one month interest.

 

FYI, they do repayment plans up to 12-18 months, so if you cannot afford the 6-month plan they have offered, try to contact them asking for a 12-month plan or even a 18-month plan (if you can afford this).

 

Personally I think MEM is one of the better PDL companies and I would rather pay MEM than e.g. Speedcredit :-)


24/7 Moneybox: 195.00 - Oustanding: 0.00

British Pearl/Spondoolies: 752.10 - Oustanding: 0.00

Cash on go/Peachy: 206.30 - Oustanding: 0.00

EarlyPayday: 325.00 - Oustanding: 0.00

Lending Stream: 1398.46 - Oustanding: 0.00

MicroLend: 780.00 - Oustanding: 0.00

Minicredit: 520.00 - Oustanding: 0.00

MonthEndMoney/PaydayUK: 937.50 - Oustanding: 0.00

MrLender: 715.00 - Oustanding: 0.00

Pounds2Pocket: 2328.00 - Oustanding: 0.00

QuickQuid: 1800.00 - Oustanding: 0.00

SafeLoans: 450.50 - Oustanding: 0.00

Speed-E-Loans: 516.00 - Oustanding: 0.00

SwiftSterling: 1295.00 - Oustanding: 0.00

Toothfairy Finance: 544.00 - Oustanding: 0.00

TxtLoan: 450.00 - Oustanding: 0.00

WageDayAdvance: 670.80 - Oustanding: 0.00

Wonga: 1336.86 - Oustanding: 0.00

Total: 15220.52 - Oustanding: 0.00

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Thanks PDLVictim,

 

I did think actually the agreement was perfectly valid. I have to say they seem a darn sight more organised than Speedcredit and QQ have been ;)

 

I have also noticed the balance hasn't changed since I defaulted so I'm on the: "They're playing by the rules" side of the fence.

 

I can see they are "only" asking for 1 months interest which I accept. However I am willing to challenge that against the agreement being only 22 days. There is also a clause in the CCA about their being interest at £0.66 per day. 0.66 x 22 isn't exactly £112.50!

 

Anyway. As they seem willing to communicate with me, I am reasonably comfortable with repaying the loan. But I don't quite get the interest of 66p bit :|


This is how I spend most of my life :ranger:

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You can certainly enquire how that amount was calculated. Remember, its still your money. Dont pay anything until you are 100% sure what you are paying.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Thanks renegadeimp... That was exactly what just occurred to me.

 

It doesn't quite settle with me with the agreement saying 66p per day in interest and for 22 days them coming up with over £100

 

I'm not at all trying to "wriggle" out of it. As you say, I want to know exactly what I am paying and how that amount was calculated. Asking for 1 months interest is fair enough but as the agreement was only 22 days, I make that 3 weeks and 1 day. Perhaps not so fair.

 

The whole reason I have the done the CCA requests is to make sure that I paying what I actually owe and not a speculative amount.

 

That being said I am late paying back the loan and they have not added ridiculous charges. So I may be willing to settle as things are on the proviso that they do not take any further action against me during a repayment plan. Unless they of course can provide a reasonable explanation for the charges, in which case I would be no worse off that I am now.

 

They did refer my loan to Equidebt during the token repayment plans I was making however made Equidebt disappear with an "Account in Dispute" notice and they don't have my cell number thankfully. Not even my correct address lol!

 

However it has occurred to me that maybe the agreement "meant" to say £0.66 Interest per xx£ per day. In which case making such interest amounts and possibly the whole agreement unenforceable?

 

That is nothing more than speculation on a high level though. I'll send them an e-mail now.


This is how I spend most of my life :ranger:

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As far as i am aware, they can only charge you the interest that is included within their Terms and conditions. They cant go changing it later and not tell you about it. But im not 100% sure about that, but hopefully someone with more knowledge of interest can advise more.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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I think I've worked it out...

 

£112.50 Interest would be for as near as dammit 31 Days on a Loan Principle of £450.00 (Which mine was)

 

The credit agreement I have does clearly state 22 days. So that in theory only makes £81 Interest due? (Approximately)

 

Surely you cannot enforce Interest on a Loan Principle Amount which in theory you could not use without defaulting? Thus meaning technically, never use?

 

I believe the 66p thing I found was under the "Right to Withdraw" so probably not relevant here.

 

Thanks,

 

Nuke :)


This is how I spend most of my life :ranger:

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