Cap1 & CCA return

[pugsley]

hope this is true because I have had 3 cards with capital one over the last 2 1/2 years I possibly activated them and signed them but didn't get a new credit agreement

[pugsley]

SE16090 - Vouchers and credit-tokens: meaning of credit- token

 

Section 142(4) and (5) ICTA 1988

 

A “credit-token” is something which merely has to be produced in order to obtain goods and services without immediate payment. It does not have to be capable of being exchanged for goods or services.

 

A credit-token is “any card token document or other thing”, except a non-cash or cash voucher, which is given to a person by someone who undertakes:

• to supply money, goods or services on credit on its production, for example, a credit card supplied by a retailer or
• to pay a third party for the supply of money, goods or services on its production to that third party, for example, a credit card like a Mastercard or Visa card supplied by a credit card company.

A charge to tax arises where such a credit-token is provided for an employee or a relation ( SE16080) by reason of the employment. For the amount chargeable as an emolument see SE16140.

 

The use of a “credit-token” to operate a machine, for example, a cash dispenser, is deemed to constitute its production.

 

The charge arising from the use of credit-tokens eliminates any argument over whether the payment by an employer of credit card bills run up by an employee is a discharge of the employee's pecuniary liability ( SE00580). There is thus a uniform charge on all employees in these circumstances however the credit card facilities are provided.

 

Guardian Unlimited Money | Credit and debt | GE Capital Bank told to change its ways

[pugsley]

when I got a replacement credit card the number (is this the same as the account number?, not sure) of the card has changed for capital one, but the account and balance remain the same.

[pugsley]

keep up the good work, I'm particularly interested as I have been sent so many replacement cards. I will continue with getting the charges back but may well be interested in THE SECTION afterwards. Do you think the limitation act will be negated on this issue? it appears it will be to me.

[pugsley]

so if you were to ask for your credit agreements for two replacement cards what would a credit card company actually do, surely they can't backdate them? Would the money you have been spending on the card without the credit agreement still be owed. This wouldn't have much effect on my balances as they are very low and mostly charges but what about people who have high balances with no agreement.

[pugsley]

I will have access to the legal gateways via lexis nexis athens account, next week, which includes butterworth's direct , lawtel etc, so pm me if you need anything looked up.

[pugsley]

I got a leter from Natwest the other day saying thank you for writing to them about charges, lol I have just opened this account and have never wrote to them about charges, maybe they will start sending it out to every customer just in case.

[pugsley]

so basically if you run out on a debt and never acknowledge it you are in a better position than if you contact the company and try to reduce payments and offer a lower settlement, madness

[pugsley]

Moorcroft DCA have two of my debts back to the original companies so far, they just close the account after my requests for the credit agreement.

[pugsley]

You walk into a shop.

You choose your telly.

You take it to the till.

You ask for the advertised 0% nothing to pay for 12 months credit.

Your personal details are taken and input onto a database.

Your details are cross referenced with the CRA's instantly.

Your details are retained by the retail store and the CRA (a credit check has been made).

Your personal details are made available to anybody who subscribes to a service offered by the CRA's.

You enjoy your telly.

You notice payments coming out of your account after 12 months which are excessive and unexpected.

You default on a different DD payment.

You are charged £35.00 for the pleasure.

You default again because of that charge and incur another.

You try to pay off the charges and default on one of your regular ones.

You default on the regular.

You take out an overdraft and pay off the excess.

You default on your overdraft and are charged the default rate of interest.

You take out a loan to pay it all off, at a fee.

You default, you default, you default.

You pay off what you can.

Your family suffers.

You lose your job because you can't focus.

You default, you default, you default.

You receive a Court Summons.

You ignore it.

You receive a threat to recover goods.

You ignore it and hope it'll go away.

You lose your telly.

Your charges have now risen to three times the price of the telly.

You're in financial ruin, and your name blackened, with no prospects of a mortgage or any other finance, and no chance of progression.

Your wife leaves.

Your mortgage is in arrears.

You can see the vultures circling.

You lose your home.

You never entered into a contract with the creditor, instead made an application with the sales assistant.

You haven't got an agreement, only made an application.

You do something you shouldn't out of desperation.

You get caught.

You get sentenced - 5 years.

You get your telly.

 

Have I missed anything?

 

Tide

 

 

 

obviously supposed to be funny but worryingly close to the truth for some:(

[pugsley]

I don't believe anyone has claimed their capital back up to date. You may wish to view tomterm's view on pursuing such a claim.

 

Have you read up on sec 85?

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/112860-will-you-get-payments.html

 

 

__________

 

see first five pages

http://www.consumeractiongroup.co.uk/forum/other-institutions/10900-loan-company-cannot-supply.html

 

money was claimed back in the early days, although the advice now seems to have changed

[pugsley]

nice to see you posting Peter, I hope you are well

 

Sandy x:)