Tesco Visa no CCA £9K written off!

[smartmartian10]

I wrote to Tesco Visa on the 12th February 2007 and requested the credit agreement in accordance with the Consumer Credit Act 1974.

 

They replied on the 3rd April 2007, first letter back, nothing in between.

 

"As I am unable to provide you with a copy agreement at the date the card agreement was made and a copy of the current terms of the card agreement, as an exceptional matter and in line with the Consumer Credit Act requirements, the current balance of £9K has been discharged and is no longer obligatory."

 

Signed by Senior CRA Officer

[livelylad]

fantastic news !!!!!!

[Guest Ruthie P]

OMG!!!!!!!! that is fantastic!!!!!!

[Robertxc]

Bl@@dy hell!!

[MARTIN3030]

Dont suppose he will be getting any clubcard vouchers in May then ?

[ladybird17]

wow! What a fantastic result....oh but they would all be so easy!!

[Trojan1401]

That's excellent news.

 

One question though, is this write off following a default on the balance outstanding as well as penalty charges following closure of the credit card ?

 

If so, this may set a precedent for any debt where the original signed agreement cannot be provided ( or am I just being thick here ? ).

[ladybird17]

i see what you're saying Trojan - but as a judge did not rule this, I can't see how it set a precedent.

[jaxads]

That's amazing --- well done!!!!!

[Trojan1401]

Told you I was being thick - early morning syndrome & on holiday !!!

[smartmartian10]

The account had (has) been defaulted and I am set up with Payplan to clear my debts to this and others.

 

In fairness to them, they have never involved a DCA, have not hassled me with phone calls and they froze interest as soon as I told them I was talking to Payplan. So of all my creditors they easily been the best to deal with. Even to the point of holding up there hand and saying we have no agreement (not here is any old application with a signature). Like I said one letter requesting CCA and then they write back as my first post above.

 

What I found most interesting was "in line with the Consumer Credit Act requirements, the current balance of £9K has been discharged and is no longer obligatory."

 

Payplan emailed me back yesterday and said they will contact RBOS to confirm they have zero balance.

 

I have written to Tesco to say no agreement therefore no Data protection therefore remove all Credit Reference Agency info.

[stan5131]

Well done. Can we ask when you took out this card with Tesco? It may help others to know how far back they have kept the copy agreements.

 

Stan

[InKogneeToh]

Hi

 

Congratulations - what a result!!

 

That letter should be laminated and stored with your most prized possessions - it's worth 9K!

 

Regards, Pam

[davey77]

Wow thats great stuff! I wish all my debts were with Tesco!

 

On a similar note I found it rather interesting:

 

Beating Banks With Bad Credit Agreements? - 30/03/2007

[Cornucopia]

Hi

 

Congratulations - what a result!!

 

That letter should be laminated and stored with your most prized possessions - it's worth 9K!

 

Regards, Pam

 

 

Good LORD!! Well done you! That's great news.....

 

I have a v. old Tesco card.....CCA here we come!

 

How old was this account?

[Cornucopia]

Wow thats great stuff! I wish all my debts were with Tesco!

 

On a similar note I found it rather interesting:

 

Beating Banks With Bad Credit Agreements? - 30/03/2007

 

Davey! I can see you use Motley Fool too, a v. useful site!!

 

Will be over to your thread shortly.....

[zubo]

Well done mate, that was an excellent result... clearly puts my £6k in the shade...

 

I decided not to pursue charges etc after Tam advised me to cut and run.

Like Pam? said you should frame the letter, I have mine

 

Z

[Jeff2000]

Hello srmjmm10,

 

 

Absolutely brilliant stuff! Have yourself a very big drink!

 

Hopefully there is a lesson to learn for all the other banks and DCA's on being upfront and honest!

 

On second thought...........!

 

 

Jeff.

[WormHasTurned]

I'd say well done to the decision-maker in Tesco.

[smartmartian10]

From the SAR information I received it says the account was opened Oct 1999.

[smartmartian10]

And they sent statements back as far as Feb 2000

[Cornucopia]

From the SAR information I received it says the account was opened Oct 1999.

 

 

Really? Well after mine then! How interesting!

 

Well done, really, it is nice to see the banks lose for a change and I say that with not an ounce of malice!;-)

[smartmartian10]

Have now started researching the question of "restitution".

 

As they have no agreement could I claim back everything paid?

 

At the very least are they entitled to profit can I reclaim the interest?

 

It appears a few people have looked at this but can not find anyone who has been successful so far.

[InKogneeToh]

Davey! I can see you use Motley Fool too, a v. useful site!!

 

Will be over to your thread shortly.....

 

I'm a 'Fool' too!

[MARTIN3030]

That's excellent news.

 

One question though, is this write off following a default on the balance outstanding as well as penalty charges following closure of the credit card ?

 

If so, this may set a precedent for any debt where the original signed agreement cannot be provided ( or am I just being thick here ? ).

 

The rules already provide for this under the consumer credit act 1974.

The 2006 ammendments however give judges the discretion to enforce it.(as of April 1)2007