Amex Platinum Charge Card

[alangee]

Can monies be transferred from a regulated agreement (Amex Flex Account attached to the charge card) to the unregulated agreement (Charge Card) each month? My thinking is that they are two separate accounts and should be treated so. Otherwise what is to stop Amex transferring all the regulated credit facility into the unregulated credit facility?

 

Alan

[banker_rhymes_with]

Hello Alan!

 

Or...if they do or have transferred monies from Regulated to Unregulated, that may be suitable evidence that it is all one big Regulated Agreement, with no protection, for them, from The Consumer Credit Act 1974!

 

Cheers,

BRW

[alangee]

Thanks, BRW.

 

Alan

[alangee]

Letter from Amex informing me they have sold the account. Surprised that they would sell a charge card account, but not overly bothered. I wonder if they got a good price for it, as they offered me 60% off.

 

Alan

[banker_rhymes_with]

Hello Alan!

 

Mmmm...that's interesting!

 

Must be something wrong with the alleged Agreement in that case, because Amex don't tend to sell their alleged Debts!

 

I'd have a good slow and long look through all of your paperwork, and also get a SAR off to Amex soon. Not just yet, wait a little while for the Sale to appear in their documents, so that you get to see anything useful.

 

Be on standby to CCA/S.A.R. any DCA pond life that appears, and have the no harassment strategy ready as well.

 

The hassle will start all over again when the DCA tries to collect, so let them start, then get ready to prod them in both eyes once they have made a few calls and you have a sequence of harassment established.

 

Also, hunt out the Default Notices and Cancellation letters, because they could well add some real meat to your counter-attack against the DCA when they come collecting.

 

Cheers,

BRW

[alangee]

BRW do you think section 173 could be appropriate in this case?

 

Alan

 

Contracting-out forbidden

 

173

 

(1) A term contained in a regulated agreement or linked transaction, or in any other agreement relating to an actual or prospective regulated agreement or linked transaction, is void if, and to the extent that, it is inconsistent with a provision for the protection of the debtor or hirer or his relative or any surety contained in this Act or in any regulation made under this Act.

 

(2) Where a provision specifies the duty or liability of the debtor or hirer or his relative or any surety in certain circumstances, a term is inconsistent with that provision if it purports to impose, directly or indirectly, an additional duty or liability on him in those circumstances.

 

(3) Notwithstanding subsection (1), a provision of this Act under which a thing may be done in relation to any person on an order of the court or the [F1 OFT] only shall not be taken to prevent its being done at any time with that person’s consent given at that time, but the refusal of such consent shall not give rise to any liability.

[banker_rhymes_with]

Hello Alan!

 

Not sure, have they handled this as if it were a Regulated Agreement, or have they Terminated and Sold without mentioning the Act or issuing a s87(1) Default Notice etc.

 

Cheers,

BRW

[alangee]

They issued their normal invalid Default Notice for the Flex account, and then terminated about three weeks later.

 

At the time it was terminated, they had transferred three payments from the Flex account to the charge card. It is this part where they appear to be overcoming CCA1974.

 

Alan

Edited June 15, 2009 by alangee

[banker_rhymes_with]

Hello Alan!

 

They issued their normal invalid Default Notice for the Flex account, and then terminated about three weeks later.

 

That's good as far as that one goes.

 

At the time it was terminated, they had transferred three payments from the Flex account to the charge card. It is this part where they appear to be overcoming CCA1974.

 

Yes, it does indeed.

 

I would think this must go against the OFT Debt Collection Guidelines, i.e. they are using Debt to pay off other Debt, so that could be a breach on those grounds perhaps.

 

Cheers,

BRW

[Hestia]

Hi alangee - read your thread - thanks for the heads up - what happened to you after that then? I notice that was back in the summer?

 

Cheers

 

Hestia

[alangee]

Hi Hestia

 

I am still corresponding with CapQuest - the DCA they sold it to. I am still trying to confirm if it was an absolute or equitable sale. Neither Amex or CapQuest seem to want to answer my question, which is interesting.

 

The DN is faulty - I have never seen a good one from Amex yet. They do not have an agreement for the Flex account, and the application for the charge card was for another card that was fully paid up about 8 years ago, so, I just answer their threat letters with 'Account in Dispute'.

 

Alan