Starting afresh

[julian1968]

Hello all

 

I have had a look through the forums and could do with a few pointers please

 

I have also been approached by a company who is wanting to audit my credit agreements, but I think this can be done without this company wanting to take the lions share

 

I have several accounts both open and closed, credit cards, loans, mortgages (mortgages were repossessed many years ago)

 

I know I can apply for my SAR's for all accounts, but how would I know if any of my agreements are unenforceable? and so able to take action against the various companies

 

I will continue to search the forum, but any help will be good here

 

Thanks

[maroondevo52]

Hello and Welcome, julian.

 

Your right, you can do the lot for yourself

 

I'll move this thread to the Debt Collectors Forum, stacks of good people in there, with some superb advice to give you

 

Regards.

 

Scott.

[julian1968]

Thanks Marroon

[kangadrag]

Julian.... definitely the best here.... I'm feeling empowered already!

 

Thanks guys

[cashins]

Hi and welcome

 

I would be wary of these companies offering the audit, there is usually a catch.

 

You can DIY the job anyway.

 

!st stop: You need to send requests for copies of the original agreements under section 78 of the Consumer Credit Act 1974. You will find the appropriate letter, (letter n), in the letters section on this forum. You need to end £1 statuary fee with each, suggest postal order, not cheque) and print, don't sign the letters.

 

The companies then have 12+2 days to comply.

 

You then need to post the results up on here for advise. Copy agreements, scan and post up but with anything you post ensure you remove personal details and any account numbers and bar codes.

 

David

[julian1968]

Hello again

 

I have today received a copy of my conditional sale agreement from Yes Car Credit - I sent them a letter re a poss PPI claim and they tell me I never had PPI with them - This may be tru, But I wasnt sure - I can get this scanned and uploaded very soon, would I start a new thread with this and if so where would be the best place to post?

 

I have also received a large file from a SAR's request I made a while ago to a previous mortgage lender, I have no idea what to look for to find out if I have any sort of claim against them, can someone advise please?

 

Thanks again

 

Julian

[cashins]

You would be better doing a seperate thread for each company - it will get very confusing otherwise.

 

Best forum is this one, they will get the most exposure.

 

David

[julian1968]

Thanks David

 

What about the SAR's file, it's seems far too much to scan and upload. Is there anything in particular I should be looking for

 

Julian

[cashins]

Depends what you are looking for.

 

Majority of the time a SAR is done with a view to reclaiming, late payment and other penalty charges.

 

If you are looking for specific actions, note should appear in the logs.

 

Many Sars come out incomplete - go through it and make sure they have sent what you have asked, (and paid for)

 

David

[postggj]

hi julian

check your yes car agreement

if they have added your deposit, which they prob have, to your insurane eg ppi

thats any insurance

 

its game over for them

[julian1968]

Hello again

 

Dave

 

Where you mention looking for specific actions and a note appearing in the logs, what do you mean logs ? as for the SARs being incomplete, an event summary (list of all cals, letters sent to me etc) includes info on letters to me, no copies of these are added, but I'm not sure if these would make a difference.

 

I was not charged late or penalty charges on this account, but the claim company that approached me wanted to get the SAR's for them to "Audit" what else could they have been looking for?

 

Postggj

 

I have looked at my agreement and it does seem as though my deposit was added to my insurance premiums but again I could be mistaken. I will scan, edit out presonal info and start a new thread with it for people to view and if possible, advise

 

It is quite difficult to understand what and why some things are as they are on an agreement

 

Thanks again

 

Julian

[postggj]

google photobucket to upload

its free

[julian1968]

Thanks Post

 

Feelin a bit daft now, where is the letters section of the site please

[postggj]

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20758-creditors-dcas-letter-templates.html

 

yry

this

[julian1968]

I have looked at the SAR's template in these forums and note that it states that if the company can not supply all paperwork, then full copy statements will do.

 

Do we not need the copy agreements to make sure they comply with the CCA?

 

How do we know these are not signed, and are just being held back by the lender?

 

Is this a silly question

 

Thanks

[spamheed]

there is no such thing as a silly question

 

when you sar a creditor, you are requesting all information held by the company which includes you as a subject and is part of their filing system.

 

sending an sar to a dca is pointless, they rarely hold much information, send it to the original creditor, if they do not produce the cca as part of the documents they send to you, in all likelihood they don't have one and will send only copy statements instead. if they produce a cca at a later stge, they havee clearly not fulfilled your sar correctly and can be pursued for such a breach.

 

send a cca to a dca to make them prove that they have a right to enforce the debt.

[julian1968]

DCA ?

 

 

Also if they don't / can't produce the cca how can I see if I did agree to terms or indeed sign the cca

 

Im baffled

 

Thanks again

[42man]

DCA = Debt Collection Agency

 

If they can't produce an agreement in answer to your legal request, then the debt is unenforceable by law -

 

Consumer Credit (Prescribed Periods for Giving Information) Regulations

1983 (SI 1983/1569)

2 Prescribed period

The period of 12 working days is hereby prescribed for the purposes of each provision of the Act specified in Column 1

of the Schedule to these Regulations relating to the duty indicated in Column 2 in relation to regulated agreements

 

 

SCHEDULE

SECTIONS OF THE ACT IN RESPECT OF WHICH A PERIOD OF 12 WORKING DAYS IS PRESCRIBED RELATING TO DUTIES IN

RELATION TO REGULATED AGREEMENTS

Regulation 2

Section of the

Act

Duty

(1) (2)

77(1) Duty to give information to debtor under fixed-sum credit agreement.

78(1) Duty to give information to debtor under running-account credit agreement.

79(1) Duty to give information to hirer under consumer hire agreement.

and section 78 for running credit

 

 

78.

Duty to give information to debtor under running-account credit agreement.

— (1) The creditor under a regulated agreement for running-account credit, within the prescribed period after receiving a request in writing to that effect from the debtor and payment of a fee of [F1 £1], shall give the debtor a copy of the executed agreement (if any) and of any other document referred to in it, together with a statement signed by or on behalf of the creditor showing, according to the information to which it is practicable for him to refer,—

(a)

the state of the account, and

 

(b)

the amount, if any currently payable under the agreement by the debtor to the creditor, and

 

©

the amounts and due dates of any payments which, if the debtor does not draw further on the account, will later become payable under the agreement by the debtor to the creditor.

 

 

(2) If the creditor possesses insufficient information to enable him to ascertain the amounts and dates mentioned in subsection (1)©, he shall be taken to comply with that paragraph if his statement under subsection (1) gives the basis on which, under the regulated agreement, they would fall to be ascertained.

 

(3) Subsection (1) does not apply to—

(a)

an agreement under which no sum is, or will or may become, payable by the debtor, or

 

(b)

a request made less than one month after a previous request under that subsection relating to the same agreement was complied with.

 

 

(4) Where running-account credit is provided under a regulated agreement, the creditor shall give the debtor statements in the prescribed form, and with the prescribed contents—

(a)

showing according to the information to which it is practicable for him to refer, the state of the account at regular intervals of not more than twelve months, and

 

(b)

where the agreement provides, in relation to specified periods, for the making of payments by the debtor, or the charging against him of interest or any other sum, showing according to the information to which it is practicable for him to refer the state of the account at the end of each of those periods during which there is any movement in the account.

 

 

(5) A statement under subsection (4) shall be given within the prescribed period after the end of the period to which the statement relates.

 

(6) If the creditor under an agreement fails to comply with subsection (1)—

(a)

he is not entitled, while the default continues, to enforce the agreement;

 

(7) This section does not apply to a non-commercial agreement, and subsections (4) and (5) do not apply to a small agreement

[julian1968]

Thanks 42man

 

I better make a cup of tea before reading this one

[julian1968]

Hello

 

I have 4 credit cards and a bank loan, all of which have been paid on time (barring 1 or two late payments)

 

The total amount owing across the board is approx £20,000

 

Now, due to circumstances beyond my control, my business has failed and I will not be making any more payments on any of these accounts after next month

 

I have been made an offer of a loan from a friend to settle these loans (well almost) and I wonder if I can approach the companies now explaining the situation, and asking them to freeze accounts and interest with a monthly payment in future (will be very low) or make them a full and final settlement now with a few thousand pounds reduction (As my loan will not cover all of the debt) I also want the full and final settlement to be shown as settled on my credit reports

 

Sounds like I want the world, But I think they may go for this, especially in the current climate

 

Any advice will be good on this, Thanks

[joneseyblod]

Hi there

 

Depending on your circumstances and the risk they consider your account to be creditors may accept about 70 - 80% of the balances as full and final settlements.

 

I would suggest that you first contact the lender, explain the situation and try and get the interest frozen on the accounts and a reduced payment plan agreed. Once the interest is frozen and the debts wont increase it is then a good time to send in requests for full and final settlement offers.

 

The national debt advice line website does have a set of templates you can use, I believe they are also on here somewhere, but being quite new to this site myself I am not sure where they are.

 

Lastly I am sorry to hear your business has failed, I hope your circumstances improve and you manage to get an arrangement with the creditors. My nephew's business failed a couple of years ago due to ill health and he is now struggling with an overdraft and credit card. I am trying to get some advice for him.

[hillards]

Although I can't advise legally, my personal feeling is NOT to take a loan to repay debt. This is just shifting the way you owe the money and I wouldn't want a friend to help me out in this way.

 

There are procedures for sorting out business debts and it would be as well to find out about those before going into personal debt to try and pay everything off.

 

It may seem like you are doing the right thing at the time, but you may get advise that is more helpful.

[surprise]

I would CCA all credit card companies to see what they hold in the way of agreements, if they haven't got agreements gives you a good bargaining tool.

[julian1968]

Hello

 

A few months ago before I found this forum I sent letters off to my lenders both with current balances and those that had been settled with letters reclaiming PPI

 

I have had some responces ranging from

 

1) saying it was up to me to me to understand that I had PPI and also to cancel it

 

2) Returning letters saying that they cant find any info on my account and it may have been deleted so can I provide more info

 

3) Or returning my cheques as the 16 digit number was not on the chq (a delaying tactic I feel)

 

Anyway, I am now of a mind to draw a line under all apps and re apply from fresh and apply to all companies for original copies of my CCA. with all the tips I have found in the forum.

 

I dont think this would be a problem or hinder and possible claims and Im just looking for your thoughts on this please

 

Thanks

[julian1968]

Hello

 

Several months ago I was approached by a company that offered to audit possible claims for me. One of the possible claims they stated was against mortgage lenders both current and old

 

Now, I didnt progress anything with the claim company but I did get back info from a previous mortgage lender as a result of a SAR's request

 

My question is this, What should I be looking for to tell if I have any type of claim against the lender (what would the claim company have looked for during their audit)

 

I dont seem to be able to find any info on commission paid to the broker so maybe the SAR's request is incomplete

 

Any help will be good please

 

Thanks