American Express. CCA/SARS Pack.

[42man]

Just out of interest how far back do the statements go ?

 

As for the charges....if they add up + 8% compounded interest to close to what you owe them, then you could make them a F & F (bearing in mind the unenforceable CCA).....

[42man]

Get that claim in....if you need a compounded interest calculator there is a good one here.... - Bank Charges: Reclaim them, they’re unlawful, inc. free template letters ...

[42man]

Unenforceable in my opinion....and I know the application you have too as I had one...

[42man]

How much do you have in the way of excessive charges to reclaim Jon ? - apologies...seen it above !!

[42man]

The thing is it seems they owe you more than you owe them....so I think you should start the charge reclaim.....although reclaiming beyond the 6 years could be tricky....

[42man]

You might find this interesting -

 

A valid credit agreement must contain certain terms within the signature document (s.60(1)(2) CCA 1974). These core terms are the credit limit, repayment terms and the rate of interest (SI 1983/1553 (6 Signing of agreement) which states that the prescribed terms must be within the signature document. (Column 2 schedule 6). s.61(1)(a) states the agreement must contain all the prescribed terms and be signed by both the debtor and on behalf of the creditor.

 

Further, s.127(3) CCA 1974 makes the account unenforceable if it is not in the proper form and content or improperly executed.

 

In Wilson and another v Hurstanger Ltd (2007) it was stated “In my judgment the objective of Schedule 6 is to ensure that, as an inflexible condition of enforceability, certain basic minimum terms are included which the parties … and/or the court can identify within the four corners of the agreement. Those minimum provisions combined with the requirement under s.61 that all the terms should be in a single document, and backed up by the provisions of section 127(3), ensure that these core terms are expressly set out in the agreement itself: they cannot be orally agreed; they cannot be found in another document; they cannot be implied; and above all they cannot be in the slightest mis-stated. As a matter of policy, the lender is denied any room for manoeuvre in respect of them. On the other hand, they are basic provisions, and the only question for the court is whether they are, on a true construction, included in the agreement”.