DEFAULT REMOVAL; A breakthrough procedure?

[liquidauctions]

If its a CCA regulated agreement they have to send a default notice full stop

[bh2362]

If its a CCA regulated agreement they have to send a default notice full stop

 

are overdrafts CCA regulated?

[liquidauctions]

Yes a personal overdraft is regulated under the CCA

[bh2362]

Yes a personal overdraft is regulated under the CCA

 

thanks liquid,

 

so they have to send a default notice correct?

[liquidauctions]

Yes they do, and it should be in a correct format, It should also allow you a min of 14 days to pay everything taking into account postage days also to be served correctly.

[bh2362]

Thanks Liquid,

 

the reason i say so is that I have had an account with HSBC and they did not send me a default they just sent a final demand letter, they then registered a default a month later.

are you 10000% if so im going to challenge it.

B

[liquidauctions]

Yes I am as by law they need to send you a default notice to register a default against you. Start by making a full SAR and enclose £10 and go through and report you findings back to them and demand (not ask) it be removed. Stick to your guns and if they dont remove it send a copy of everything to the banking ombudsman and tell him that you will seek legal action against HSBC if it isnt removed. Good Luck!

[bh2362]

Hi liquid,

 

yes done the SAR last year got a big box from HSBC with a load of printouts, there was no agreement, no default notice, no letters about the overdraft, all there was a few arrears letters, and this final demand.

is it worth doing a new SAR to be fresh or go with what i got last time?

B

[liquidauctions]

sorry, i'm being dim here I know, but is that saying the DN was invalidated by the arrangement to pay? ie they would have to serve a fresh DN before they can register a Default with the CRAs? What I'm trying to determine is whether the creditor can enter a sneaky Default without any pre-emptive warning in a situation where I've been on an AP for 6 years but, as in my case, the payments have been unilaterally reduced by me due to affordability. I'm not sure if s88 helps or not.

 

Providing you made a single payment to them which met there requirements e.g. If the creditor accepted you pay them £100pm and you made the payment then they will have to issue you a fresh DN

[liquidauctions]

Hi liquid,

 

yes done the SAR last year got a big box from HSBC with a load of printouts, there was no agreement, no default notice, no letters about the overdraft, all there was a few arrears letters, and this final demand.

is it worth doing a new SAR to be fresh or go with what i got last time?

B

 

Do another SAR and list that you would like all documents incl standard banking documents (things they usually send to you) This is a sneak tactic the banks use now and ask you to request standard banking documents. If they havent got the agreement then there is no account and no debt and the default should be removed.

This is why your payment demand is not correct;

a statement saying the notice is a default notice served under section 87(1) of the 1974 Act

[silverfox1961]

Can I just add that although overdrafts are covered within the CCA 1974, they also have a part v exemption, in that there is no agreement. There should however be some form of documentation outlining the terms of the overdraft

[bh2362]

Do another SAR and list that you would like all documents incl standard banking documents (things they usually send to you) This is a sneak tactic the banks use now and ask you to request standard banking documents. If they havent got the agreement then there is no account and no debt and the default should be removed.

This is why your payment demand is not correct;

a statement saying the notice is a default notice served under section 87(1) of the 1974 Act

 

Thanks Liquid will get onto that tommorow.

[liquidauctions]

Can I just add that although overdrafts are covered within the CCA 1974, they also have a part v exemption, in that there is no agreement. There should however be some form of documentation outlining the terms of the overdraft

 

That is correct but in my case with Natwest they served the termination notice under;

Section 76 (1), which is

 

76 Duty to give notice before taking certain action. E+W+S+N.I.

(1)The creditor or owner is not entitled to enforce a term of a regulated agreement by—

(a)demanding earlier payment of any sum, or

(b)recovering possession of any goods or land, or

©treating any right conferred on the debtor or hirer by the agreement as terminated, restricted or deferred,

except by or after giving the debtor or hirer not less than seven days’ notice of his intention to do so.

 

and 98 (1) which is;

 

 

98 Duty to give notice of termination (non-default cases). E+W+S+N.I.

 

(1)The creditor or owner is not entitled to terminate a regulated agreement except by or after giving the debtor or hirer not less than seven days’ notice of the termination.

 

 

Both are ludacris as I have been classed as a non default case and they defaulted me LOL

[liquidauctions]

what makes it more ludacris is the fact that section 76 is only for regulaed agreements

[liquidauctions]

another cagger talks about s98 here

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?232832-S98-no-need-for-accurate-Default-Notice

[bh2362]

I got this from another post its HSBC Terms and conditions from 2010.

 

Can they issue a default going on this??????

 

Or is because of the previous argument overdrafts are regulated, and need a default notice.

 

 

 

*34.4.3*.

If we make demand for repayment following default and you fail to repay the full amount due or to make and keep to acceptable proposals for repayment within 28 days we may (in the absence of any genuine dispute about the amount owed) register the default with the credit reference agencies. This may affect your ability to obtain further credit.

---End Quote---

And on page 24 of the Banking Code (2008 )..

 

 

---Quote---

*13.6* We may give information to credit reference agencies about the personal debts you owe us if:

• you have fallen behind with your payments; • the amount owed is not being disputed; and • you have not made proposals we are satisfied with for repaying your debt, following our formal demand.

*13.7* In these cases, we will give you at least 28 days’ notice that we plan to give information about the debts you owe us to credit reference agencies.

---End Quote---

[bh2362]

bump

[liquidauctions]

I got this from another post its HSBC Terms and conditions from 2010.

 

Can they issue a default going on this??????

 

Or is because of the previous argument overdrafts are regulated, and need a default notice.

 

 

 

*34.4.3*.

If we make demand for repayment following default and you fail to repay the full amount due or to make and keep to acceptable proposals for repayment within 28 days we may (in the absence of any genuine dispute about the amount owed) register the default with the credit reference agencies. This may affect your ability to obtain further credit.

---End Quote---

And on page 24 of the Banking Code (2008 )..

 

 

---Quote---

*13.6* We may give information to credit reference agencies about the personal debts you owe us if:

• you have fallen behind with your payments; • the amount owed is not being disputed; and • you have not made proposals we are satisfied with for repaying your debt, following our formal demand.

*13.7* In these cases, we will give you at least 28 days’ notice that we plan to give information about the debts you owe us to credit reference agencies.

---End Quote---

 

It all depends on the following;

 

1. If they have complied with the CCA and the OFTs determinations

2. The fact that they can furnish you with all the documents

3. The fact that they can demonstrate without reasonable doubt that they have served you in the correct manner

4. They dont charge interest on things other than the overdraft (bank charges)

 

If they can demonstrate 1-5 then they have done nothing wrong. There is no universal thing to get defaults removed. You need to look at the agreements and conclude that our bank acted fairly. If you find evidece in your SAR to suggest otherwise then take it further.

[liquidauctions]

And with regards to your question if you have signed the terms then yes they can default you but they need to follow the procedure.

[bh2362]

Thanks Liquid,

 

anyway SARs sent today so ill post up when i get them back.

 

B

[liquidauctions]

Thanks Liquid,

 

anyway SARs sent today so ill post up when i get them back.

 

B

 

Good news, give them 40 days plus around 3 days for postage times etc. If you dont get a reply send a letter of complaint to the complaints dept.

[danielman2]

good luck with this

[bh2362]

Thanks Guys

B

[fryman]

Hi there, I know this is a very old post wondering if someone can help,

 

On my credit file its shows a Default Date of 05/1/10

 

The default letter I found:

Dated 14/01/10

 

THIS IS A DEFAULT NOTICE SERVED UNDER SECTION 87(1) OF THE CONSUMER CREDIT ACT 1974,

 

later on in the letter it says I can remedy the breach by paying the amount by 31 January 2010

 

Also found a letter Dated:

 

10 May 2010

 

FINAL DEMAND

 

Stating I have 14 days from the date of the letter to repay in full or make a proposal.

 

and if fail to comply debt collectors will be instructed and default details passed to CRA's

 

 

 

Also Letter Dated

 

10 June 2010

 

That my account has been passed onto a DCA

 

and additionally as a defaulting debtor details have been passed to CRA's

 

What am getting at is that before all these letters by default was registered against me.

 

Can I have this default removed?

[42man]

It seems ok and a usual scenario....I think you mat struggle to get it removed.