Enforcability of Agreement?

[Jamesx81x]

Hi

 

Could anyone tell me if they think the agreement and default notice or enforceable?

 

I beleive it to be missing some of the perscribed terms under the CCA but would like some further advice.

 

http://i218.photobucket.com/albums/cc264/Jamesx81x/welcome.jpg

 

http://i218.photobucket.com/albums/cc264/Jamesx81x/Default/welcomedefault.jpg

 

Thanks

[steven4064]

Hi James

 

The loan agreement does have all the prescribed terms for enforcability and is signed by you - it is therefore enforceable. THe DN is OK too. How they have the nerve to admit to 60.5% APR, though .....

Edited May 16, 2009 by steven4064

[Jamesx81x]

Thank you for the reply.

 

With regards to its perscribed terms, there is no total charge for credit, no termination rights, no charge information and no terms and conditions. The agreement is also unsigned by welcome.

 

Thanks for your help.

[steven4064]

The missing items you mantion make it not properly executed but don't affect the enforceability.

 

If it is a cancellable agreement as defined in teh CCA 1974, the lack of cancellation rights (s64 of the CCA 1974) would make it unenforceable.

[Jamesx81x]

Appreciate your help.

 

All agreements should be cancellable shouldnt they? ie, quarter, half and three quarter points.

 

There is also they way the ppi was added to the loan i have a problem with. Just looking for a way out.

 

Thanks so far

[steven4064]

NOt all agreements are cancellable (even some that say they are) - cancellability is defined in eth CCA 1974 (I think)

[Jamesx81x]

Thats what am going to try and find out, i need a copy of the terms and conditions for that loan which i never received. T&C's also been a perscribed term. Will have to SAR them to try and get hold of them.

 

Am sure any form of credit should have termination rights. Section 58(1) of the CCA 1974 states the agreement should contain a notice in the perscribed form indicating the right of the debtor to withdraw from the agreement and how and when this right is exciserable. This definately makes in executed incorrectly! do they not have to prove its enforceability in court if that is the case? Then that would lead to no default should be on my file until they have done so should it not?

 

Sorry for all the questions am just trying to dig as much as i can to fire at them knowing what i am talking about instead of looking stupid.

 

Thanks for the help!

[Jamesx81x]

Anyone got any advice on the questions above?

 

Thanks