M&SMoneyVSlollipops MuminLaw

[lollipop73]

Hello all,

 

 

As some of you know I am helping my Mum in Law deal with her creditors.

 

Can you have a look at this agreement for me to see if I can give her some ammunition in dealing with them.

 

 

 

The first page is from one of those tear off application books they have in stores-the perforation marks are visible, but not on the accompanying t&cs.

 

Does this make it unenforceable under the four corners rule?

 

 

These two arrived in response to CCA request including some t&cs effective from 26th Jul 07.

 

 

I would be very grateful for any help on this. She has many cards and I am relatively new to all this stuff and it is quite bewildering.

[steven4064]

What sort of account is this? Is it a current account, overdraft, loan?

 

If it is a credit card or loan it is not enforceable as it doesn't have the prescibed terms for either AFAICT

[lollipop73]

She gets two different statements a month-one says chargecard and one says personal reserve, l have had nothing back for the chargecard as yet, in fact now l have just looked l only asked for the personal reserve on the cca request. l don't understand how this M&S thing works.

[steven4064]

Charge cards are not credit cards and are not covered by the CCA 1974. THe personal reserve may well be a savings account, again not covered by teh CCA1974. You ned to fond out. What about looking on M&S website?

[busby1]

Charge cards are not credit cards and are not covered by the CCA 1974. THe personal reserve may well be a savings account, again not covered by teh CCA1974. You ned to fond out. What about looking on M&S website?

 

 

Steven

 

a personal reserve account is/was definetly a credit facility.

you have a credit limit and a cheque book which you can use to pay into your bank account. I think you could also just ring up and have money transferred into your bank account.

 

I dont remember how I got one though but I think I was after a loan from them and ended up with one of these. mine was closed a couple of years ago.

 

Busby1

[steven4064]

From ciao website

M&S also offer a Personal Reserve account. You are eligible for this account whether you hold a M&S account card or not. This account is a standard £3000 and is there for you to use whenever you want so you can spend £3000 all at once or £500 a month for 6 months or just use £1000 of it if you so wish. You are given a "cheque book" with which you write cheques to yourself to get the cash. Again the APR is low, you receive monthly statements and this is a unique to M&S service.

However, this product has now been withdrawn. It seems to operate like an overdraft facility and therefore is prbably covered by the OFT determination that means that it si not subject to part V of the CCA 1974.

[BlueSquirrel]

I have a Personal Reserve account and they have sent me a default notice issued under section 87 (1) of the CCA 1974. (only giving me 13 days to rectify by the way.) I sent them a CCA request back in November, they have cashed the cheque but never sent anything. It didn't occur to me that it would not be an agreement subject to CCA. I sent an SAR a month ago - nothing in response to that either. Any suggestions as to my next move?

[lollipop73]

I think I'm probably just dim because I now have even less idea about the situation.

 

 

 

 

 

Perhaps lol should just enter into payment negotiations??

[citizenB]

Thread moved to the newly opened M&S forum:grin: