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I have a question I require help with.

First let me apologise if this is posted in the wrong place, but as it relates to Default Notices as well, I thought it might be a good place to start.

 

If a person has several insurance products with a company all paid for on the same direct debit and the direct debit fails, can the company issue one Default Notice for all the accounts, or should they issue a Default Notice for each account? - Bearing in mind that each account has its own credit agreement?

 

Many thanks.

 

Regards GD

-

PLEASE NOTE - I am not a legal expert, my comments are based on information learnt or

obtained and from my own experiences.

-

Case 1 - C L Finance - Court Case 'Stayed' :-). Stay Lifted - N149 AQ Received & Filed. Case Struck Out :grin:

-

Case 2 - C L Finance - Defence Filed. N150 AQ Received & Filed. Case 'Settled by Consent' :)

-

Case 3 - EOS Solutions - No Agreement - Account Closed ~£3500. :grin:

-

Advice & opinions offered freely but informally, without prejudice & without liability.

Use your own judgment and seek advice from a qualified and insured professional if you have any doubts.

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That was my understanding as well.

So the next question is, if they terminate the agreements following the issue of one Default Notice they have breached the CCA.

i.e.

1 Default Notice Issued

3 Accounts terminated (each with there own credit agreement)

Therefore 2 accounts terminated with no Default Notice = Breach of CCA and leaves them open to a claim for refund of all payments plus interest?

 

Does anyone else agree with this assessment?

 

Regards GD

-

PLEASE NOTE - I am not a legal expert, my comments are based on information learnt or

obtained and from my own experiences.

-

Case 1 - C L Finance - Court Case 'Stayed' :-). Stay Lifted - N149 AQ Received & Filed. Case Struck Out :grin:

-

Case 2 - C L Finance - Defence Filed. N150 AQ Received & Filed. Case 'Settled by Consent' :)

-

Case 3 - EOS Solutions - No Agreement - Account Closed ~£3500. :grin:

-

Advice & opinions offered freely but informally, without prejudice & without liability.

Use your own judgment and seek advice from a qualified and insured professional if you have any doubts.

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Have you actually received any default notice that is stated as being such ? Or a termination notice that relates to the CCA 1974 ?

We could do with some help from you.

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each

however they should not be sending a default notice until 3 missed payments

 

they can mark the file late payment though

if they charge you late fees get them back!!

please don't hit Quote...just type we know what we said earlier..

 

DCA's view debtors as suckers, marks and mugs

 

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

 

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

 

 

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each

however they should not be sending a default notice until 3 missed payments

 

they can mark the file late payment though

if they charge you late fees get them back!!

 

It would never get to the stage of 3 missed payments. With Insurances if you miss a payment, Insurers will send a letter advising of the payment issue and give 7 days for the payment to be made, which then if not made, will the lead to cancellation of the policy. As far as I know, they don't issue a default notice or termination notice in relation to the CCA 1974.

 

There is a company out there who provides Insurance in a strange way. They actually sell a loan, which then pays for the Insurances. I cannot remember the name of the company, but if Ghostdebt states the name of the company, it may be the company I am thinking of.

 

Creation Consumer Finance ?

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

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No it wasn't Creation...

Yes we received 1 x Default Notice, served under Section 87(1) of the CCA 1974 complete with the OFT information sheet.

and 2 x Cancellation Notices, which state:

We still haven't received the outstanding amounts due from you as set out in our previous correspondence.

In view of your default, in accordance with your Consumer Credit/Installment Agreement the process for cancellation of your policy has

now started and cannot be stopped.

Your policy will therefore be cancelled 7 days from the date of this letter... etc.

 

Hope this additional information helps.

 

Regards GD

-

PLEASE NOTE - I am not a legal expert, my comments are based on information learnt or

obtained and from my own experiences.

-

Case 1 - C L Finance - Court Case 'Stayed' :-). Stay Lifted - N149 AQ Received & Filed. Case Struck Out :grin:

-

Case 2 - C L Finance - Defence Filed. N150 AQ Received & Filed. Case 'Settled by Consent' :)

-

Case 3 - EOS Solutions - No Agreement - Account Closed ~£3500. :grin:

-

Advice & opinions offered freely but informally, without prejudice & without liability.

Use your own judgment and seek advice from a qualified and insured professional if you have any doubts.

Link to post
Share on other sites

OK it is not Creation, but there is a single financial arrangement to pay various Insurances. If so, then it correct to issue one default notice and then seperate cancellation notices regarding each product. They will issue credit agreements for each product, but they don't have to issue a default notice per agreeement, because there is only one financial arrangement as such.

 

When these companies issue their procedures/documents, it will have gone through a lengthy compliance process.

 

If you think that you have spotted some flaw, then why don't you write to the companies head of compliance asking for an explanation.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

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