Newbie - Settling out of Court

[Murphy69]

Thanks pt

Under Section 78 of the Consumer Credit Act of 1974, creditors must give certain information to debtors regarding credit agreements that do not have a fixed sum for a fee of 1 pound, and penalties may be assessed if creditors do not provide that information.

 

 

 

 

Responsibilities of Creditors Under Section 78
 

1. Creditors must provide to debtors the current state of their credit agreement, the amount that has already been paid and future due days for payments under the current credit agreement between the creditor and the debtor. Penalties for Creditors
    
   
2. If the creditor does not give due dates for future payments within 12 working days of the request, then the agreement between the creditor and debtor may become "unenforceable."
    
    
    
   Unenforceable debt agreements still must be paid, but creditors cannot threaten legal action, demand early payments or repossess property on unenforceable agreements. Agreements Where Section 78 Does Not Apply
    
   
3. Section 78 does not apply to non-commercial credit agreements, and creditors have more leniency with smaller agreements.
   
   

 

[pt2537]

Thanks pt

Under Section 78 of the Consumer Credit Act of 1974, creditors must give certain information to debtors regarding credit agreements that do not have a fixed sum for a fee of 1 pound, and penalties may be assessed if creditors do not provide that information.

 

 

 

 

 

Responsibilities of Creditors Under Section 78
 

1. Creditors must provide to debtors the current state of their credit agreement, the amount that has already been paid and future due days for payments under the current credit agreement between the creditor and the debtor. Penalties for Creditors
    
   
2. If the creditor does not give due dates for future payments within 12 working days of the request, then the agreement between the creditor and debtor may become "unenforceable."
    
    
    
   Unenforceable debt agreements still must be paid, but creditors cannot threaten legal action, demand early payments or repossess property on unenforceable agreements. Agreements Where Section 78 Does Not Apply
    
   
3. Section 78 does not apply to non-commercial credit agreements, and creditors have more leniency with smaller agreements.
   
   

 

 

 

sorry but that is horrendously incorrect

 

the creditor can threaten and bring legal proceedings under a breach of s78, what he cannot do however is obtain a judgment,charging order or make the debtor bankrupt, and of course falls foul of the rule in Henderson v Henderson if he fails at the first hurdle

[pt2537]

the legal arguements were more complex than i am setting out here, and the evidence i had to put forward was conclusive, i had the luxuary of a client who had an MBNA agreement with ALL the original documents from start to finish, and i was able to bench test whatever was produced against this clients papers.

 

plus i had witness evidence from the client and also i was fortunate to have been in the High Court to hear MBNAs solicitor give evidence on their procedures, so i was also able to show further problems for the claimant,

 

it was not a straight forward s78 argument

[Murphy69]

PT - do you want me to remove the above which i found on Answers.com?

[pt2537]

PT - do you want me to remove the above which i found on Answers.com?

no, this is a good thing as we can debate the rights and wrongs of things

 

please leave it there, it will assist others

[spamheed]

Don't you just love it "Unenforceable debt agreements must be paid"

 

or else what?

 

they're going to erm...... do nothing?

[pinny24x7]

sorry but that is horrendously incorrect

 

the creditor can threaten and bring legal proceedings under a breach of s78, what he cannot do however is obtain a judgment,charging order or make the debtor bankrupt, and of course falls foul of the rule in Henderson v Henderson if he fails at the first hurdle

 

Hi Pt,

 

 

I am currently defending a claim against Capital One and believe Cap one have not complied with my CCA request. The Shadow pointed out on my thread that the claimants will will not/should not get get a judgement against me.

 

Was just wondering what is the rule you are reffering toin Henderson?

[pinny24x7]

That's ok Pt, you have your reasons and I respect them.

 

I would like to clarify The Shadow did mention that I would nead to plead appropriatley - Carey

 

Ive tried reading Henderson and coult figure out what you were reffering to hence the reason I asked.

 

Thnaks

[Murphy69]

In my particular case with cabot - I have 2 agreements, one was a person loan through Capital Bank in Chester and the other an RBS advanta card. The PL had PPI included which I believe was mis-sold which even though this is over 6 years ago, I am still going to claim for because as cabot says, they assume all the responsibilities of the debt when they bought it. Now they have been unable to produce a copy of the default notice because RBS advanta have not got it on file, I wonder how much does this help my case and can they just now go and reconstitute documents after the Cary case? The copy of the app they sent me has just my name and address, no employment details so on what document were these? As this has now been stayed permanently in uk and dismissed, i wonder what all the significance of this will have if it goes to court in Northern Ireland?