Welcome secured debt sold to MKDP - HELP on Full and final settlement

[beyondhope]

with the difference being 3k i dont think they have a hope in hell of final payment of from me just trying to get clear on what says what about which bits lol

[karlosg]

For Post + Ozzy - Here are the confirmed figured and letter from Welcome, Agreement on 1st page of the thread

 

[emanevs]

oh, dear oh dear welscum......

[karlosg]

oh, dear oh dear welscum......

 

???

 

How do i go about disputing the CCA now ?

[pwg6565]

oh, dear oh dear welscum......

 

So.... What happens when we all recieve one of these emanevs ??

Surely that is not legal because they did not show the break down before signing the agreement ??

[emanevs]

give the **** a bit of this......

 

Your name and address

To:

Xxxxxxxxx

Welscum Finance

.......

Insert date: xxxxxx

REF: XXXXXXXXXXXX – THIS ACCOUNT IS IN DISPUTE.

Thank you for your letter dated xxxxx.

I have had time to consider your response, and are still unhappy with your conclusion.

In response to your findings, I confirm the following:

Unenforceability of the Credit Agreement.

1) I signed the agreement on the XXXXXXXXX

2) You have not provided any evidence when my agreement was dispatched to me.

UNDER ‘KEY FINANCIAL INFORMATION’ The agreement states:

£20,000 = total amount of credit

180 = number of monthly payments

£388.69 = amount of each monthly payment.

27.71 APR = APR

Please also see below (Taken from OFT Website)

 

The Consumer Credit (Agreements) Regulations

 

The Regulations apply to all regulated consumer credit agreements and consumer hire agreements, including modifying agreements.

In particular, the agreement must contain certain financial and other information. This must be set out in a specified order, with sub-headings, and shown together as a whole. The information must be of equal prominence, and easily legible.

 

In the case of credit agreements, the required information is:

• nature of the agreement

• parties to the agreement

• key financial information (including the amount of credit or the credit limit, the duration of the agreement, the APR, the total amount payable, and the amounts and timing of repayments)

• other financial information (including a description and cash price of goods or services, any advance payments, the total charge for credit, the rate of interest , how and when interest charges are calculated and applied, the order of allocation of payments, and variable rates and charges)

• key Information (including default or other charges, any security provided by the borrower, and prescribed statements of the protection and remedies available to the borrower), and

• a signature box, and other form of consent where applicable.

Both the borrower and the lender must sign the agreement. A copy of the executed agreement must be given to the borrower, either when he signs it or within seven days. A further copy of the unexecuted agreement may also need to be provided. If the agreement is cancellable (because it was signed off trade premises), notice of cancellation rights must be included in the copy agreement, and must also generally be sent by post or email to the borrower within seven days.

 

If the above requirements are not met, the lender can only enforce the agreement against the borrower by getting a court order. Local authority trading standards services or the OFT can take enforcement action against the lender, using powers in Part 8 of the Enterprise Act 2002.

 

In addition (quote from Consumer Credit Regs 1983)

Form and content of regulated consumer credit agreements

 

2.

—(1) Subject to paragraphs (2) and (9) below, documents embodying regulated consumer credit agreements (other than modifying agreements) shall contain the information set out in Column 2 of Schedule 1 to these Regulations in so far as it relates to the type of agreement referred to in Column 1.

 

3) The ‘KEY FINANCIAL INFORMATION’ ON THE AGREEMENT DOES NOT COMPLY WITH THE REQUIREMENTS ABOVE.

 

Loan Calculations (using the Office of Fair Trading Calculator) based upon £20,000 @ 180 months @ £388.69 per month.

 

TAP = £69964.20

TOTAL CHARGE FOR CREDIT = £49964.20

PERIOD RATE = 1.87481539969

NOMINAL ANNUAL RATE = 22.4977847962

EFFECTIVE ANNUAL RATE = 24.9689202657

ANNUAL % RATE = 25.0

 

You have confirmed that the acceptance fee of £235

As per the Wilson case, the fees must not be added to the total amount of credit.

 

The total of fees are “£235” (consisting of acceptance fee)

 

TOTAL CHARGE FOR CREDIT HAS TO BE £49964.20 (AT 25%, WHICH IS STATED UNDER ‘KEY FINANCIAL INFORMATION’ AS EXPLAINED BY THE OFT)

However, as the fees of £235 REMAINS TO BE PAID OFF WITHIN THE 180 MONTHS. AT THE END OF MONTH 180 YOU WOULD STILL HAVE £235 REMAINING – THERE WOULD BE A SHORTFALL, AND THEREFORE THE PRESCRIBED TERMS UNDER SCHEDULE 6 OF THE CONSUMER CREDIT AGREEMENT 1983 ARE INCORRECT.

 

Please confirm the ‘total amount of credit’. I read your letter as clearly stating that the ‘total amount of credit is £20,235.00

 

I require you to provide clear and accurate calculations to me, explaining how the figures contained in the agreement dated XXXXXXXXXX return back to zero at the end of the 180 month period as stated in the agreement. I require a full explanation and calculation from start to finish. Please also explain how the APR is calculated on the loan amount above.

 

I am sure you are aware of Schedule 6 of the Consumer Credit Agreement Regs 1983, whereby it clearly states the list of prescribed terms. You have also confirmed in writing to us that the ‘total amount of credit’ was in fact £20,235. The interest rate is also incorrect. Having the ‘total amount of credit’ of £20235 renders the agreement automatically unenforceable.

 

If we investigate these figures, again they are incorrect and are not a true accurate account of the agreement.

 

Loan Calculations (using the Office of Fair Trading Calculator) based upon £20,235 @ 180 months @ £388.69 per month.

 

TAP = £69964.20

TOTAL CHARGE FOR CREDIT = £49729.20

PERIOD RATE = 1.85000139775

NOMINAL ANNUAL RATE = 22.200016773

EFFECTIVE ANNUAL RATE = 24.6041398458

ANNUAL % RATE = 24.6

ANNUAL % RATE = 24.6 (AND NOT 25% AS YOU STATED ON THE AGREEMENT.)

 

You have confirmed that the acceptance fee of £235

 

As per the Wilson case, the fees must not be added to the total amount of credit.

 

The total of fees are “£235” (consisting of acceptance fee and broker fee)

TOTAL CHARGE FOR CREDIT HAS TO BE £49729.20 (AT 24.6%, USING THE OFT CALCULATOR)

 

There are requirements about the accuracy of the statement of APR. These are given in Schedule 7. The APR stated must be no more than 0.1% below the actual interest charged and no more than 1% above.

 

This will make the agreement unenforceable in law.

 

As the fees of £235 REMAIN TO BE PAID OFF WITHIN THE 180 MONTHS. AT THE END OF MONTH 180 YOU WOULD STILL HAVE £235 REMAINING – THERE WOULD BE A SHORTFALL, AND THEREFORE THE PRESCRIBED TERMS UNDER SCHEDULE 6 OF THE CONSUMER CREDIT AGREEMENT 1983 ARE INCORRECT.

 

As you should already have these figures to hand, there should be no reason why you cannot answer this letter within 7 days.

 

Under S61 of the Consumer Credit Act, Section (1) A regulated agreement is not properly executed unless

 

a) A document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60 (1) is signed in the prescribed manner both by the debtor or hirer ad by or on behalf of the creditor or owner, and

b) The document embodies all the prescribed terms of the agreement, other than implied terms and

c) The document is, when presented or sent to the debtor or hirer for signature, in such a state that all its terms are readily legible.

CLEARLY, YOU ARE UNABLE TO PROVIDE A LEGIBLE COPY OF THE AGREEMENT AND THEREFORE THIS AGREEMENT IS UNENFORCEABLE.

 

I look forward to receiving your reply with 7 days of the date of this letter together with full details and calculations in respect of the issues raised within.

 

Yours ............

 

PRINT NAME

(DO NOT SIGN)

Edited March 11, 2010 by emanevs
Should be Section 61 of CCA

[karlosg]

Excellent work mate , Il get this sent off recorded delivery tomorrow !! Thanks very much and il post the " no doubt" interesting reply i get !!

[ozzywizard]

Exelent work Em .

[karlosg]

quick question , in the letter im sending - 1st paragraph states : 27.71 APR . where is this figure on my agreement??

[emanevs]

quick question , in the letter im sending - 1st paragraph states : 27.71 APR . where is this figure on my agreement??

 

SOZ!!!

 

Under this paragraph, replace the figures as per what they said in their letter to you dated 4th March.

 

Illegible agreement, ha,ha, - NOT PROPERLY EXECUTED - NO EFFECTIVE SECURITY = HAPPY DAYS!!!!

[emanevs]

When they get back to you we will also tell them this:

 

Part VIII of the Consumer Credit Act

Section 105 – Form and content of securities. (see attached)

Section 106 – Ineffective Securities. (see attached)

As this agreement is unenforceable, your organisation has no enforceable security.

I there must insist that this security is ineffective, and that you must follow the remedy contained in the Act whereby:

 

Part VIII – SECURITY S105

(4) A security instrument is not properly executed unless

a) a document in the prescribed form, itself containing all of the prescribed terms and conforming to regulations under subsection (2), signed in the prescribed manner by or on behalf of the surety, and

b) the document embodies all the terms of the security, other than implied terms, and

c) the document when presented or sent for the purpose of being signed by or on behalf of the surety, is in such state that its terms are readily legible, and

d) when the document is presented or sent for the purpose of being signed by or on behalf of the surety there is also presented or sent a copy of the document.

5) A security instrument is not properly executed unless

a) where the security is provided after, or at the time when, the regulated agreement is made, a copy of the executed agreement, together with a copy of any other document referred to in it, is given to the surety at the time the security is provided, or

b) where the security is provided before the regulated agreement is made, a copy of the executed agreement, together with a copy of any other document referred to in it, is given to the surety within seven days after the regulated agreement is made.

Part VIII – SECURITY S106

Where, under any provision of this Act, this section is applied to any security provided in relation to a regulated agreement, then subject to section 177 (saving for registered charges, -

a) The security, so far as it is so provided, shall be treated as never having effect;

b) Any property lodged with the creditor or owner solely for the purposes of security as so provided shall be returned by him forthwith;

c) The creditor or owner shall take any necessary action to remove or cancel an entry in any register, so far as the entry relates to the security as so provided; and

d) Any amount received by the creditor or owner on realisation of the security shall so far as it is referable to the agreement, be repaid to the surety.

I therefore within 14 days of the date of this letter require Welcome Finance to:

1) Any property lodged with the creditor or owner solely for the purposes of security as so provided shall be returned by him forthwith;

2) The creditor or owner shall take any necessary action to remove or cancel an entry in any register, so far as the entry relates to the security as so provided; and

3) Any amount received by the creditor or owner on realisation of the security shall so far as it is referable to the agreement, be repaid to the surety.

Please confirm in writing that you will be carrying out this action unconditionally.

[karlosg]

Is this now correct please mate ? I dont want to make any mistakes :-D

 

give the **** a bit of this......

 

Your name and address

To:

Xxxxxxxxx

Welscum Finance

.......

Insert date: xxxxxx

REF: XXXXXXXXXXXX – THIS ACCOUNT IS IN DISPUTE.

Thank you for your letter dated xxxxx.

I have had time to consider your response, and are still unhappy with your conclusion.

In response to your findings, I confirm the following:

Unenforceability of the Credit Agreement.

1) I signed the agreement on the XXXXXXXXX

2) You have not provided any evidence when my agreement was dispatched to me.

UNDER ‘KEY FINANCIAL INFORMATION’ The agreement states:

£20,000 = total amount of credit

180 = number of monthly payments

£388.69 = amount of each monthly payment.

24.97 APR = APR

Please also see below (Taken from OFT Website)

 

The Consumer Credit (Agreements) Regulations

 

The Regulations apply to all regulated consumer credit agreements and consumer hire agreements, including modifying agreements.

In particular, the agreement must contain certain financial and other information. This must be set out in a specified order, with sub-headings, and shown together as a whole. The information must be of equal prominence, and easily legible.

 

In the case of credit agreements, the required information is:

• nature of the agreement

• parties to the agreement

• key financial information (including the amount of credit or the credit limit, the duration of the agreement, the APR, the total amount payable, and the amounts and timing of repayments)

• other financial information (including a description and cash price of goods or services, any advance payments, the total charge for credit, the rate of interest , how and when interest charges are calculated and applied, the order of allocation of payments, and variable rates and charges)

• key Information (including default or other charges, any security provided by the borrower, and prescribed statements of the protection and remedies available to the borrower), and

• a signature box, and other form of consent where applicable.

Both the borrower and the lender must sign the agreement. A copy of the executed agreement must be given to the borrower, either when he signs it or within seven days. A further copy of the unexecuted agreement may also need to be provided. If the agreement is cancellable (because it was signed off trade premises), notice of cancellation rights must be included in the copy agreement, and must also generally be sent by post or email to the borrower within seven days.

 

If the above requirements are not met, the lender can only enforce the agreement against the borrower by getting a court order. Local authority trading standards services or the OFT can take enforcement action against the lender, using powers in Part 8 of the Enterprise Act 2002.

 

In addition (quote from Consumer Credit Regs 1983)

Form and content of regulated consumer credit agreements

 

2.

—(1) Subject to paragraphs (2) and (9) below, documents embodying regulated consumer credit agreements (other than modifying agreements) shall contain the information set out in Column 2 of Schedule 1 to these Regulations in so far as it relates to the type of agreement referred to in Column 1.

 

3) The ‘KEY FINANCIAL INFORMATION’ ON THE AGREEMENT DOES NOT COMPLY WITH THE REQUIREMENTS ABOVE.

 

Loan Calculations (using the Office of Fair Trading Calculator) based upon £20,000 @ 180 months @ £388.69 per month.

 

TAP = £69964.20

TOTAL CHARGE FOR CREDIT = £49964.20

PERIOD RATE = 1.87481539969

NOMINAL ANNUAL RATE = 22.4977847962

EFFECTIVE ANNUAL RATE = 24.9689202657

ANNUAL % RATE = 25.0

 

You have confirmed that the acceptance fee of £235

As per the Wilson case, the fees must not be added to the total amount of credit.

 

The total of fees are “£235” (consisting of acceptance fee)

 

TOTAL CHARGE FOR CREDIT HAS TO BE £49964.20 (AT 25%, WHICH IS STATED UNDER ‘KEY FINANCIAL INFORMATION’ AS EXPLAINED BY THE OFT)

However, as the fees of £235 REMAINS TO BE PAID OFF WITHIN THE 180 MONTHS. AT THE END OF MONTH 180 YOU WOULD STILL HAVE £235 REMAINING – THERE WOULD BE A SHORTFALL, AND THEREFORE THE PRESCRIBED TERMS UNDER SCHEDULE 6 OF THE CONSUMER CREDIT AGREEMENT 1983 ARE INCORRECT.

 

Please confirm the ‘total amount of credit’. I read your letter as clearly stating that the ‘total amount of credit is £20,235.00

 

I require you to provide clear and accurate calculations to me, explaining how the figures contained in the agreement dated XXXXXXXXXX return back to zero at the end of the 180 month period as stated in the agreement. I require a full explanation and calculation from start to finish. Please also explain how the APR is calculated on the loan amount above.

 

I am sure you are aware of Schedule 6 of the Consumer Credit Agreement Regs 1983, whereby it clearly states the list of prescribed terms. You have also confirmed in writing to us that the ‘total amount of credit’ was in fact £20,235. The interest rate is also incorrect. Having the ‘total amount of credit’ of £20235 renders the agreement automatically unenforceable.

 

If we investigate these figures, again they are incorrect and are not a true accurate account of the agreement.

 

Loan Calculations (using the Office of Fair Trading Calculator) based upon £20,235 @ 180 months @ £388.69 per month.

 

TAP = £69964.20

TOTAL CHARGE FOR CREDIT = £49729.20

PERIOD RATE = 1.85000139775

NOMINAL ANNUAL RATE = 22.200016773

EFFECTIVE ANNUAL RATE = 24.6041398458

ANNUAL % RATE = 24.6

ANNUAL % RATE = 24.6 (AND NOT 25% AS YOU STATED ON THE AGREEMENT.)

 

You have confirmed that the acceptance fee of £235

 

As per the Wilson case, the fees must not be added to the total amount of credit.

 

The total of fees are “£235” (consisting of acceptance fee and broker fee)

TOTAL CHARGE FOR CREDIT HAS TO BE £49729.20 (AT 24.6%, USING THE OFT CALCULATOR)

 

There are requirements about the accuracy of the statement of APR. These are given in Schedule 7. The APR stated must be no more than 0.1% below the actual interest charged and no more than 1% above.

 

This will make the agreement unenforceable in law.

 

As the fees of £235 REMAIN TO BE PAID OFF WITHIN THE 180 MONTHS. AT THE END OF MONTH 180 YOU WOULD STILL HAVE £235 REMAINING – THERE WOULD BE A SHORTFALL, AND THEREFORE THE PRESCRIBED TERMS UNDER SCHEDULE 6 OF THE CONSUMER CREDIT AGREEMENT 1983 ARE INCORRECT.

 

As you should already have these figures to hand, there should be no reason why you cannot answer this letter within 7 days.

 

Under S61 of the Consumer Credit Act, Section (1) A regulated agreement is not properly executed unless

 

a) A document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60 (1) is signed in the prescribed manner both by the debtor or hirer ad by or on behalf of the creditor or owner, and

b) The document embodies all the prescribed terms of the agreement, other than implied terms and

c) The document is, when presented or sent to the debtor or hirer for signature, in such a state that all its terms are readily legible.

CLEARLY, YOU ARE UNABLE TO PROVIDE A LEGIBLE COPY OF THE AGREEMENT AND THEREFORE THIS AGREEMENT IS UNENFORCEABLE.

 

I look forward to receiving your reply with 7 days of the date of this letter together with full details and calculations in respect of the issues raised within.

 

Yours ............

 

PRINT NAME

(DO NOT SIGN)

[karlosg]

I had a call today from Welcome saying they are hand delivering a letter yesterday ( they never turned up ) stating that they are refusing that the agreement is unenforceable and not answering any points in my letter at all and stating to contact the FOS. Im awaiting the hard copy. They also say I have to make a payment this month etc and they cant understand why im not paying - She was very rude and down putting indeed !!

 

So whats the next step please ?? Do i quote Part VIII of the Consumer Credit Act as you mentioned above or is it the FOS next ??

 

Finally I also received an envelope this week with a copy of the documents i originally signed ( DD form etc ) minus the CCA as they had already supplied this ( unreadable as can be seen from the previous posts)

 

Any advise appreciated please

[ozzywizard]

Sounds to me that you have sent your letter to compliance at head office and now you got your local branch monkeys trying to scare you into paying by telling you compliance are doing nothing. To be honest and i know its hard ignore them, do not speak to them on the phone and do not accept a visit from them they are from the branch. await the written reply.

[emanevs]

get a final response from them in writing.

 

make a complaint with the fos.

 

dont speak to them on the phone.

 

everything in writing.

 

as the account is in dispute, they shouldnt do anything.

 

they may send you a default notice, wipe your ar*e with this.

 

ha,ha,

[karlosg]

Thanks Guys, I have never agreed a visit but I have had 3 letter through the door while I was at work saying they called to discuss a payment arrangement.

 

Il post the letter once it arrives so hopefully we can decide where next.

 

They started to call from mobile numbers to get me now lol. I just tell them to put in writing which got their back right up !

 

She did say the accounts no longer in dispute as they refused the letter ??

[emanevs]

Boll*cks.

 

Account is in dispute, write to them enclosing another copy of your original letter and clealry state that they have not resolved your complaint to your satisfaction.

 

in your covering letter, include the bit about telephone harrassment/visits etc.

 

something like this:

 

Harassment by telephone

We write in relation to the quantity and frequency of telephone calls that we have received from your company, which we deem to be personally harassing to myself and my family

 

We have verbally requested that these stop, and also requested that these stop by way of our letter dated xxxxxxxxxx. Your letter appears to refuse my request. We reiterate, that all correspondence from your company to be made in writing only.

 

We are of the view that any continued harassment of us by telephone puts you in breach of Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997.

 

If you continue to harass me by telephone, you will also be in breach of the Communications Act (2003) s.127 and I will report you to OFCOM, Trading Standards and The Office of Fair Trading, meaning that you will be liable to a substantial fine.

 

Please confirm that you will be complying with this request by return.

 

Harassment through any form of Home Visit -

(If we receive, or are threatened with, a Doorstep Visit)

 

As previously confirmed to you in writing, we will only communicate with you in writing. We have noted your repeated attempts to contact me by telephone over the past few weeks and these have been duly logged by time and date.

 

Furthermore, should it be your intention to arrange a “doorstep call”, please be advised that under OFT rules, you can only visit us at my home if you make an appointment and we have no wish to make such an appointment with you.

 

There is only an implied license under English Common Law for people to be able to visit us on my property without express permission; the postman and people asking for directions etc (Armstrong v Sheppard & Short Ltd [1959] 2 QB 384. per Lord Evershed M.R.). Therefore take note that we revoke license under Common Law for you, or your representatives to visit us at our property and, if you do so, you will be liable to damages for a tort of trespass and action will be taken, including but not limited to, police attendance.

 

Please confirm that you will be complying with this request by return.

 

Give that to them!

[karlosg]

Morning guys, This is the reply i received , What would you suggest in return pls

 

[karlosg]

Also noticed the following - Opinions please ??

 

Letter Dated 04/03

 

Amount of credit - £20,235

Duration of agreement 180 Months

APR - 24.97% Variable

Total amount payable - Not Stated ( but adding credit charge plus credit totals £69,964.15 )

Total charge for credit - £49,729.15

BUT

 

Letter Dated 29/03

 

Amount of credit - £20,000

Duration of agreement 180 Months

APR - 25 % Variable

Total amount payable - £69,964.20

Total charge for credit - £49,964.15

 

Finally

 

Credit agreement says

 

Amount of credit - £20,000

Duration of agreement 180 Months

APR - 25 % Variable

Total amount payable - £69,964.15

Total charge for credit - - £49,729.15

 

 

??????????????????????????????

 

So according to the latter dated 29/03 , Il be left with a £235 ( acceptance fee ) shortfall at the end of the 180 months ??

 

Also it looks like they have added it into the credit in the letter dated 04/03

 

Finally where does it state its illegal to add an acceptance fee to the amount of credit given ?? OFT ?? Wilson case .. any links pls ?

 

P.S i think the link is here :

House of Lords - Wilson and others v. Secretary of State for Trade and Industry (Appellant)

 

Section 6

Edited April 9, 2010 by karlosg

[Craigbadger]

Thanks to all that replied, well nothing was ever added to my record but thats the last contact ive had as the cca was naff so no doubt i'm due a correct(or maybe not) default notice soon. To think if I had never recieved this note, i'd never of joined here, never seen the info on unenforceable agreements and probably still be in a position of despair, only sorry I didnt recieve it sooner then maybe my finances would never of got in the mess they did. The balance on this account dropped £30 in the last 12 months despite paying over £3k and not using the card, not until you see it in black and white you realise just how much of a mug you are being taken for and that something has to be done.

 

On looking at the envelope contents I still think this is a genuine default notice even if it is iffy, included is an OFT leaflet on default notices.

Edited April 10, 2010 by Craigbadger

[emanevs]

SORRY ABOUT THE DELAY!!!!.............................

 

 

Your name and address

To:

Xxxxxxxxx

Welscum Finance

.......

 

Insert date: xxxxxx

 

REF: XXXXXXXXXXXX – THIS ACCOUNT IS IN DISPUTE.

 

Thank you for your letter dated xxxxx.

1.1 I have had time to consider your response, and are still unhappy with your conclusion.

1.2 On the 4th March 2010, you provided to me a schedule of what you consider to be my agreement.

1.3 However, you also state in the same letter that “your loan agreement is not fully legible”.

1.4 Under S60 of the Consumer Credit Act, Section (1) A regulated agreement is not properly executed unless

a) A document in the prescribed form itself containing all the prescribed terms and conforming to regulations under section 60 (1) is signed in the prescribed manner both by the debtor or hirer ad by or on behalf of the creditor or owner, and

b) The document embodies all the prescribed terms of the agreement, other than implied terms and

c) The document is, when presented or sent to the debtor or hirer for signature, in such a state that all its terms are readily legible.

1.5 In addition:

Section 2(1) of the Consumer Credit (Cancellation notices and Copies of Documents) Regulations 1983 states quite specifically.....

.2 Legibility of notices and copy documents and wording of prescribed Forms

(1) The lettering in every notice in a Form prescribed by these Regulations and in every copy of an executed agreement, security instrument or other document referred to in the Act and delivered or sent to a debtor, hirer or surety under any provision of the Act shall, apart from any signature, be easily legible and of a colour which is readily distinguishable from the .

CLEARLY, YOU ARE UNABLE TO PROVIDE A LEGIBLE COPY OF THE AGREEMENT AND THEREFORE THIS AGREEMENT IS UNENFORCEABLE.

1.6 With regards to your final response, you certainly have not disproved my statement that the credit agreement is unenforceable. I request that you provide evidence to refute your claim.

1.7 You state that “there is no obligation for Welcome Finance to evidence for you”. Clearly you are incorrect, as the Office of Fair Trading clearly sets out the position whereby:

Both the borrower and the lender must sign the agreement. A copy of the executed agreement must be given to the borrower, either when he signs it or within seven days. A further copy of the unexecuted agreement may also need to be provided. If the agreement is cancellable (because it was signed off trade premises), notice of cancellation rights must be included in the copy agreement, and must also generally be sent by post or email to the borrower within seven days.

 

If the above requirements are not met, the lender can only enforce the agreement against the borrower by getting a court order. Local authority trading standards services or the OFT can take enforcement action against the lender, using powers in Part 8 of the Enterprise Act 2002.

1.8 I confirm that clearly the above requirements are not met, and you can only enforce the agreement against the borrower by getting the court order. I would be happy to explain to the court why I feel this agreement is unenforceable, as clearly there is legislation to back up my claims. In the alternative that you disagree, please clarify your legal position on this matter.

1.9 You must be aware of the forthcoming case at the Supreme Court of SPPL v Walker (case id: UKSC 2009/0217). The hearing date of this case is 13th May 2010, and is completely relevant to my dispute with you. The issue of interest being applied to fees will be concluded at this case, and I do not consider that you can reject my dispute until such time as all relevant case law is determined.

2.0 Please clarify where my calculations provided to you are incorrect. In your response, all you have confirmed is that there is no accurate interest rate to my agreement. Please refer to paragraph 1.5

2.1 Welcome Finance HAVE NOT met all of the obligations in respect of this agreement. You have previously confirmed that you cannot provide a legible copy of said agreement and therefore how would you propose asking a Judge to make an enforcement order?

2.2. Clearly you have an ineffective security. You are required to resolve my complaint in this respect by carrying out the following;

Part VIII of the Consumer Credit Act

Section 105 – Form and content of securities.

Section 106 – Ineffective Securities.

Your organisation has no enforceable security.

I must insist that as this security is ineffective, you must follow the remedy contained in the Act whereby:

 

Part VIII – SECURITY S105

(4) A security instrument is not properly executed unless

a) a document in the prescribed form, itself containing all of the prescribed terms and conforming to regulations under subsection (2), signed in the prescribed manner by or on behalf of the surety, and

b) the document embodies all the terms of the security, other than implied terms, and

c) the document when presented or sent for the purpose of being signed by or on behalf of the surety, is in such state that its terms are readily legible, and

d) when the document is presented or sent for the purpose of being signed by or on behalf of the surety there is also presented or sent a copy of the document.

5) A security instrument is not properly executed unless

a) where the security is provided after, or at the time when, the regulated agreement is made, a copy of the executed agreement, together with a copy of any other document referred to in it, is given to the surety at the time the security is provided, or

b) where the security is provided before the regulated agreement is made, a copy of the executed agreement, together with a copy of any other document referred to in it, is given to the surety within seven days after the regulated agreement is made.

Part VIII – SECURITY S106

Where, under any provision of this Act, this section is applied to any security provided in relation to a regulated agreement, then subject to section 177 (saving for registered charges, -

a) The security, so far as it is so provided, shall be treated as never having effect;

b) Any property lodged with the creditor or owner solely for the purposes of security as so provided shall be returned by him forthwith;

c) The creditor or owner shall take any necessary action to remove or cancel an entry in any register, so far as the entry relates to the security as so provided; and

d) Any amount received by the creditor or owner on realisation of the security shall so far as it is referable to the agreement, be repaid to the surety.

I therefore within 14 days of the date of this letter require Welcome Finance to confirm in writing the agreement of the following terms:

1) Any property lodged with the creditor or owner solely for the purposes of security as so provided shall be returned by him forthwith;

2) The creditor or owner shall take any necessary action to remove or cancel an entry in any register, so far as the entry relates to the security as so provided; and

3) Any amount received by the creditor or owner on realisation of the security shall so far as it is referable to the agreement, be repaid to the surety.

In the event that you refuse to carry out the above, I will have no alternative but to make an application to the County Court for the Judge to enforce Part VIII as stated above.

I will also be making a formal complaint to the OFT, and Financial Ombudsman.

 

2.3 Case Law cannot “be interpreted to suit any situation”. I suggest that you obtain specialist legal advice on this matter, as precedents and case law are fundamental to the court system.

 

2.4 Please explain how the fees are paid off?

 

2.5 Please explain why my calculations are incorrect?

 

2.6 Please provide a legible copy of the credit agreement that complies with all of the terms set out under the CCA 1974, AND 1983 REGS.

 

2.7 Please provide a copy of this letter to your Compliance Legal department.

 

 

2.8 Harassment through any form of Home Visit -

(If we receive, or are threatened with, a Doorstep Visit)

 

As previously confirmed to you in writing, I will only communicate with you in writing. I have noted your repeated attempts to contact me by telephone over the past few weeks and these have been duly logged by time and date.

 

Furthermore, should it be your intention to arrange a “doorstep call”, please be advised that under OFT rules, you can only visit me at my home if you make an appointment and I have no wish to make such an appointment with you.

 

There is only an implied license under English Common Law for people to be able to visit me on my property without express permission; the postman and people asking for directions etc (Armstrong v Sheppard & Short Ltd [1959] 2 QB 384. per Lord Evershed M.R.). Therefore take note that I revoke license under Common Law for you, or your representatives to visit us at our property and, if you do so, you will be liable to damages for a tort of trespass and action will be taken, including but not limited to, police attendance.

 

Please confirm that you will be complying with this request by return, and in any event, I also require you to provide a complete written response to this letter within 14 days as stated above.

 

 

Yours ............

 

PRINT NAME

(DO NOT SIGN)

[pears23]

Looks good

[karlosg]

excellent thanks mate - much appreciated - off it goes recorded

[emanevs]

anything back from them?

 

I doubt it........

[karlosg]

Hi mate , nope not a dicky bird yet . Someone tried to call once but as usual they got my voicemail . They still don't learn that all contact should be letter form ha ha.

 

Second I get a reply il post it up