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Aqua Card refuse promissory note and A4V

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  • #16
    Re: Aqua Card refuse promissory note and A4V

    Originally posted by Amethyst View Post
    To add to what DebtCamel has said, if it's not excessive interest that you weren't aware of, maybe you can you get a different card with a intro rate or better rate and transfer the balance ? - that's a way to keep the credit file clear. If you simply cease payments then your credit file will be affected and the account passed to a DCA eventually. If you negotiate closing the account and freezing interest and making a monthly payment - then that will also affect your credit file ( usually gets marked as arrangement ) as would a DMP.
    Personally I would call 50% APR excessive for a credit card and I wasn't aware of it at the time. What shall I do?

    - - - Updated - - -

    Offered but refused on the grounds that I can afford the 25 per month minimum payment!

    Originally posted by Debt Camel View Post
    Did they increase your credit limit to a level that was unaffordably high? If they did, you could consider making an affordability complaint, see https://debtcamel.co.uk/refunds-catalogue-credit-card/.

    These sort of complaints to credit cards are pretty new, there isn't a track record of cases yet that can be referred to.

    If you can't afford to make the minimum payments without getting further into debt each month you should consider your full debt position and whether a debt management paln would help stabilise your situation, see https://debtcamel.co.uk/debt-options/guide-to-dmps/.

    Comment


    • #17
      Re: Aqua Card refuse promissory note and A4V

      I have received a reply to my letter providing me with the terms and conditions. However they did not provide me with any signatures either from myself or from them. What should I do?

      Comment


      • #18
        Re: Aqua Card refuse promissory note and A4V

        Originally posted by MPotter View Post
        I have received a reply to my letter providing me with the terms and conditions. However they did not provide me with any signatures either from myself or from them. What should I do?
        Two sets of T's & C's?

        Did you send the Formal CCA Request + 1.00 Fee?

        nem
        The advice I give and draft letters provided are drawn from personal experience and career training and are given freely and without liability.

        Please make your own decisions with care and if necessary seek qualified legal advice. I will not advise by private message. If you'd like me to look at your post please tag me in your post by typing @nemesis45;.

        If you receive messages from anyone offering advice for a fee please report it to the site team.


        Animo et fide.

        Comment


        • #19
          Re: Aqua Card refuse promissory note and A4V

          When did you apply for the card and how did you apply?

          If it was online then a 'tick box' signature done online will suffice on the agreement

          It may be that there are only one set of terms and conditions if the account is newish

          ThAs Nemesis has said, did you send a formal CCA request with the fee

          AS for the 50% APR , well that should have been on the credit agreement that you should have signed either online or in real
          Any advice or opinions I offer are based on my experience dealing with personal debt as well as other life events.
          I have no formal legal training
          Any advice is offered without liability
          If in doubt take professional legal advice or contact the CAB

          Comment


          • #20
            Re: Aqua Card refuse promissory note and A4V

            Originally posted by nemesis45 View Post
            Two sets of T's & C's?

            Did you send the Formal CCA Request + 1.00 Fee?

            nem
            1) No - there was only one set of T's and C's provided.
            2) Yes.

            - - - Updated - - -

            Originally posted by warwick65 View Post
            When did you apply for the card and how did you apply?

            If it was online then a 'tick box' signature done online will suffice on the agreement

            It may be that there are only one set of terms and conditions if the account is newish

            ThAs Nemesis has said, did you send a formal CCA request with the fee

            AS for the 50% APR , well that should have been on the credit agreement that you should have signed either online or in real
            1) Online a year ago.
            2) This was not provided.
            3)
            4)
            5) I believe that it was.

            Comment


            • #21
              Re: Aqua Card refuse promissory note and A4V

              All the recent online applications that I have seen require the applicant to tick a box (or similar) to signify that the T&Cs have been accepted.
              Eg - https://applynow.aquacard.co.uk/appl...4AA000DSE00100
              CAVEAT LECTOR

              This is only my opinion - "
              Opinions are made to be changed --or how is truth to be got at?" (Byron)

              You and I do not see things as they are. We see things as we are.
              Cohen, Herb

              There is danger when a man throws his tongue into high gear before he
              gets his brain a-going.
              Phelps, C. C.

              "They couldn't hit an elephant at this distance!"
              The last words of John Sedgwick

              Comment


              • #22
                Re: Aqua Card refuse promissory note and A4V

                And to clarify I did tick such a box! Yet it was not provided in the paperwork that I was sent.

                Comment


                • #23
                  Re: Aqua Card refuse promissory note and A4V

                  Have they sent an accurate copy of the original agreement?

                  (Since Carey, a reconstructed version is compliant).
                  CAVEAT LECTOR

                  This is only my opinion - "
                  Opinions are made to be changed --or how is truth to be got at?" (Byron)

                  You and I do not see things as they are. We see things as we are.
                  Cohen, Herb

                  There is danger when a man throws his tongue into high gear before he
                  gets his brain a-going.
                  Phelps, C. C.

                  "They couldn't hit an elephant at this distance!"
                  The last words of John Sedgwick

                  Comment


                  • #24
                    Re: Aqua Card refuse promissory note and A4V

                    I'd say no but they've provided an accurate version of the terms and conditions. No signature was provided.

                    Comment


                    • #25
                      Re: Aqua Card refuse promissory note and A4V

                      Carey
                      At 234
                      (1) A creditor can satisfy its duty under s78 by providing a reconstituted version of the executed agreement which may be from sources other than the actual signed agreement itself;
                      CAVEAT LECTOR

                      This is only my opinion - "
                      Opinions are made to be changed --or how is truth to be got at?" (Byron)

                      You and I do not see things as they are. We see things as we are.
                      Cohen, Herb

                      There is danger when a man throws his tongue into high gear before he
                      gets his brain a-going.
                      Phelps, C. C.

                      "They couldn't hit an elephant at this distance!"
                      The last words of John Sedgwick

                      Comment


                      • #26
                        Re: Aqua Card refuse promissory note and A4V

                        Ok so I assume you're saying that the debt is valid and should be paid. As I cannot afford to pay it at the ridiculously high interest rate that has been imposed what should I do?

                        Comment


                        • #27
                          Re: Aqua Card refuse promissory note and A4V

                          There are a few options but many of them will damage your credit rating, however i am guessing this is fairly poor anyway seeing as the APR is 50%.
                          You can continue paying the minimum payments and as much extra to pay it off

                          Try to apply for other credit cards with a lower interest rate and transfer the balance

                          If the account has been defaulted - write and explain the situation and enter a repayment plan on the condition they stop adding interest

                          If the account has not been defaulted , similar to above but ask that they do not default the agreement (it will still damage your credit rating)

                          Do nothing and watch the amounts clock up - wait for it to be sold hopefully and then sort it out
                          Any advice or opinions I offer are based on my experience dealing with personal debt as well as other life events.
                          I have no formal legal training
                          Any advice is offered without liability
                          If in doubt take professional legal advice or contact the CAB

                          Comment


                          • #28
                            Re: Aqua Card refuse promissory note and A4V

                            Originally posted by warwick65 View Post
                            There are a few options but many of them will damage your credit rating, however i am guessing this is fairly poor anyway seeing as the APR is 50%.
                            You can continue paying the minimum payments and as much extra to pay it off

                            Try to apply for other credit cards with a lower interest rate and transfer the balance

                            If the account has been defaulted - write and explain the situation and enter a repayment plan on the condition they stop adding interest

                            If the account has not been defaulted , similar to above but ask that they do not default the agreement (it will still damage your credit rating)

                            Do nothing and watch the amounts clock up - wait for it to be sold hopefully and then sort it out
                            Thank you. In response to your proposed solutions:

                            1) Yes I could do the minimum payments but I can't possibly do more!
                            2) I have tried but been refused.
                            3a) The account has not been defaulted yet. However as per 4 below I plan to default the account as soon as the freeze period (September) expires.
                            3b) I have done so and been told no we can't do a repayment plan if you can afford the minimum payment. This is less than the monthly interest!
                            4) I think that's the most likely solution. What should I do? My Mum and Dad are very anxious about debt collectors attending our home address and I'm personally worried that I could be arrested if the Police are called. I am very well known to my local Police force and have heard about other people being arrested for non-payment of civil debts.

                            Comment


                            • #29
                              Re: Aqua Card refuse promissory note and A4V

                              From my understanding, the minimum repayment should not be less than the interest charged [MENTION=48934]Debt Camel[/MENTION]

                              Debt is not a criminal offence, you can not be arrested for debt. I am not sure where you heard about people being arrested for non payment of civil debts, not in the UK.
                              If you are well known to the local police, debt collectors should be a walk in the park. Besides, they very very rarely call. I have had one , once and when I asked him to go away (politely) he did , with no payment
                              The only way you could be was if a court ordered you to attend for example an examination of your income and expenditure and you didn't. They could then issue a warrant but I have never ever heard of that
                              [MENTION=5553]charitynjw[/MENTION] any thoughts?
                              Any advice or opinions I offer are based on my experience dealing with personal debt as well as other life events.
                              I have no formal legal training
                              Any advice is offered without liability
                              If in doubt take professional legal advice or contact the CAB

                              Comment


                              • #30
                                Re: Aqua Card refuse promissory note and A4V

                                Good afternoon, @warwick65

                                They don't put you in Clink for being stoney nowadays.



                                http://www.clink.co.uk/
                                CAVEAT LECTOR

                                This is only my opinion - "
                                Opinions are made to be changed --or how is truth to be got at?" (Byron)

                                You and I do not see things as they are. We see things as we are.
                                Cohen, Herb

                                There is danger when a man throws his tongue into high gear before he
                                gets his brain a-going.
                                Phelps, C. C.

                                "They couldn't hit an elephant at this distance!"
                                The last words of John Sedgwick

                                Comment

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