credit agreement appreared after te time limit.

[mandym501]

Hi.

 

i'm new to the site and not sure if this is the right place to post.

 

In decemebr last year I sent off for a copy of my credit agreement - I waited the 12 working days plus 30 days time limit. I wrote to the debt company 1st credit and told them they had committed an offence by not sending me the credit agreememt in within the time scale. I also sent a letter to TSB, who the original debt was with teling them the same. I also sent a letter to the OFT telling them I had had no response.

 

I heard nothing else - This week I got a etter from a solicitor with a copy of the credit agreement. Is this now enforcable now it has appeared - even though it was late and I made a complaint?

 

Any advice would be greatly appreciated.

 

mandy

[sharkie]

Mandy

 

Welcome

 

Not quite in the right place, but that's not a problem, I'm sure somebody will move your thread to the best area to get the maximum support.

 

What prompted you to go straight for the CCA request, also is there any chance you can scan in what you have been sent, so that someone can advise you of the validity of what they have sent.

[rory32]

Thread moved to Debt Collection Forum.

 

If a complying credit agreement is sent after the 30 day period they can once again enforce the agreement. Is it possible for you to scan and post a copy of the agreement? Please remove all personal details first.

[mandym501]

Thread moved to Debt Collection Forum.

 

If a complying credit agreement is sent after the 30 day period they can once again enforce the agreement. Is it possible for you to scan and post a copy of the agreement? Please remove all personal details first.

 

 

Hi, thanks for the reply.

 

I thought that if they did not reply with the agreement within the time limit they had broken the law. The DCA did not send this to me but solicitors - it is not the original but a fax. I will scan in the details.

 

thanks once again

 

mandy

Edited May 28, 2008 by mandym501

[rory32]

I thought that if they did not reply with the agreement within the time limit they had broken the law.

Correct. They commit a summary criminal offence. However, enforcing the agreement is a civil matter so a judge in a civil court would have no interest in this fact.

[mandym501]

Thread moved to Debt Collection Forum.

 

If a complying credit agreement is sent after the 30 day period they can once again enforce the agreement. Is it possible for you to scan and post a copy of the agreement? Please remove all personal details first.

 

Hi,

 

I have scanned in what was sent to me by the solicitors.

 

Mandy

[rory32]

You'll need to enlarge them. They're far to small to read.

[Guest forgottenone]

Hi, Mandy. What they said below *points*

Edited May 28, 2008 by forgottenone

[Hopeful1]

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[mandym501]

Thanks for the tip - I'll do that now

[mandym501]

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[gymfreak1978]

information looks ok

 

maybe enforceable as they are 2 seperate documents

 

or is it one, front and back?

[rory32]

This is where it gets a bit tricky. The agreement can be on two pages at the time that yours was taken out but the two pages need to be linked. From your scan it looks like the pages are linked through the info at the bottom of the page - although its not terrible legible.

 

I've checked the APR and this is within the tolerance allowed for credit agreements.

[mandym501]

information looks ok

 

maybe enforceable as they are 2 seperate documents

 

or is it one, front and back?

Thanks for your reply. These have been sent back as two separate documents. I'm not sure if they were back to back at the time of signing - I don't think they were - I cannot be sure.

 

Mandy

[mandym501]

This is where it gets a bit tricky. The agreement can be on two pages at the time that yours was taken out but the two pages need to be linked. From your scan it looks like the pages are linked through the info at the bottom of the page - although its not terrible legible.

 

I've checked the APR and this is within the tolerance allowed for credit agreements.

the info at the bottom of the page in the right hand corner are just the address and details. The next page seems to be separate - I could be wrong !

thanks

 

mandy

[mandym501]

This was forwarded to me by a solicitor - not by the debt agancy. I'm now worried that I may be in serious trouble if I try to force them to send me more documents or fail to pay

[pelham9]

Have you noticed that the APR given is 9.5% but the interest rate is 9.12%? Were there compulsory charges which could account for this.?

 

I have put the data into my computer and the interest rate you are being charged is very close to 9.5%. The interest rate charged is 9.12% so they have charged you around £100 more than you should have done.

 

NB. The APR is not a prescribed term so 9.5% means nothing. The interest rate to be charged is a prescibed term and is stated as 9.12%. Do not fall into the trap that APR = interest rate to be charged as it very rarely does.

 

If there are no compulsory charges ask them how they have calculated the repayment amount. They will very likely say that they have calculated from 9.5% as the annual rate charged. Counter this by saying that this is the APR whereas they state that the interest rate is 9.12% and this is what has to be applied.

 

In view oftthese discepencies I would think the agreemant unenforceable as one of the prescibed tems - the repayment amount is incorrect.