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    • 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  
    • Useful information...   And....   https://www.justice.gov.uk/courts/procedure-rules/civil/rules/part55
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dannyfleetwood

Improving my Credit Score

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Apologies if this is in the wrong form.

 

I am looking for some advice on how to repair my credit score.

 

I have defaults on my account (experian and equifax) and some late payment markers. These are all around 2 years old from when my work reduced my hours meaning I had to go on a Debt Management Plan.

 

I am now £7000 in debt which will be paid off in the next 12 months as I am now in a position to pay £700 per month through my DMP.

 

I have got a Jacamo account with £2000 limit (this has been increased over the last year from £300). I also have a Capital One secured card with £200 limit which gets paid off every month and I have recently received my Vanquis card through the post with a £500 limit on. I simply have these 3 accounts to prove I can pay my bills on time every month and that the defaults on my account weren't due to me not being bothered to pay them.

 

Credit score is 576 on experian and 242 on equifax.

 

Any advice or best practice to get this score up? I have 63 credit searches on my experian however, I have set myself a challenge to not have any more searches on my file for 12 months. This should surely add some points to my score when they all drop off?

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Numerous and frequent credit applications resulting in searches will seriously pull the ''credit score down'', the ''score'' is just a day to day indication of how you may be considered when applying for credit it is NOT seen by potential lenders.

I f you have defaulted accounts on file now it will take up to 3+ years to build a significant credit profile after the defaults are removed 6 years after the default date.

Lenders are increasingly looking at much longer credit histories often up to 5-6 years.77

 

Consistant late payment markers will affect lenders decisions as much as defaults.


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So it will take 3+ years AFTER the defaults have been removed? Or 3+ years from now so when they fall off I will already be in a good position?

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The removal of defaults from CRA files wont dramatically improve your credit profile it needs 3 + years of good to excellent credit management before it would be considered ''stable''

 

To start making credit apps again frequently will only go against you.


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So, in effect them being there aren't a major problem at the moment? I hear many mixed things about defaults.

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So, in effect them being there aren't a major problem at the moment? I hear many mixed things about defaults.

 

These things must run their course, from what you have said requent credit apps have made the situation worse as they are seen as ''deperation'' by potential lenders.


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