CCA Requests - reconstituted agreements and statements

[rifkaleah]

I have just been advised by Cabot that they are not obliged to provide a full statement of account for an alleged credit card debt i.e. a copy of statements from when the account was opened in order to substantiate the amount owed. Instead I was told that they only have to provide a statement from when they took over the debt. Is this right?

I am also being told by several credit card companies that they are now protected by case law that confirms that a reconstituted credit agreement is now compliant with CCA S77-78, in that they no longer have to provide a copy of the signed credit agreement. Is this correct?

Any help would be much appreciated.

[pt2537]

I have just been advised by Cabot that they are not obliged to provide a full statement of account for an alleged credit card debt i.e. a copy of statements from when the account was opened in order to substantiate the amount owed. Instead I was told that they only have to provide a statement from when they took over the debt. Is this right?

I am also being told by several credit card companies that they are now protected by case law that confirms that a reconstituted credit agreement is now compliant with CCA S77-78, in that they no longer have to provide a copy of the signed credit agreement. Is this correct?

Any help would be much appreciated.

They have never had to provide the signed agreement for s77 or 78, to suggest otherwise is wrong.

However, the original may become an issue if improper execution is alleged in the case.

On the statement point, they have to provide a statement as required by s78(1)(a-c)

These issues arent new, i gave a bbc interview in 2011 about these problems, heres the webpage https://www.bbc.co.uk/news/business-13349239

[rifkaleah]

Thanks. But what constitutes a statement of account? I have read s78(1)(a-c) and it doesn't make it very clear to me. Is it ok for Cabot to only provide me with a statement that shows an opening balance as the date they acquired the debt and then any other entries since that date or are they obliged to provide statements showing how that opening balance was accrued previously?

Also, can you advise as to whether a credit card agreement is an excluded agreement under CCA s61-63?

And finally, with regards to reconstituted agreements, what onus is there on the lender to prove that the copy provided is in fact an accurate version of what was in place at the time the agreement was said to have been executed? The one that Cabot has provided me has a reference on it, which they claim shows it was created in May 2005. They allege the agreement was executed in July 2005, so how can I challenge that these are the terms in place 2 months later, especially as this was a time fast changing interest rates and offers?

Any help would be much appreciated.

[pt2537]

Thanks. But what constitutes a statement of account? I have read s78(1)(a-c) and it doesn't make it very clear to me. Is it ok for Cabot to only provide me with a statement that shows an opening balance as the date they acquired the debt and then any other entries since that date or are they obliged to provide statements showing how that opening balance was accrued previously?

Also, can you advise as to whether a credit card agreement is an excluded agreement under CCA s61-63?

And finally, with regards to reconstituted agreements, what onus is there on the lender to prove that the copy provided is in fact an accurate version of what was in place at the time the agreement was said to have been executed? The one that Cabot has provided me has a reference on it, which they claim shows it was created in May 2005. They allege the agreement was executed in July 2005, so how can I challenge that these are the terms in place 2 months later, especially as this was a time fast changing interest rates and offers?

Any help would be much appreciated.

Well on the challenging terms, sorry to say but you need someone who has the tools to do the research to find the faults in the agreement. Sometimes creditors make errors, as i have shown in Harrison v Link, Cresswell v Phoenix, and many others including all the cases in that BBC article on the right hand side.

Its a hard thing to do but it can be done.

On the statement, it really isnt something i get too hung up about as the courts dont pay much attention as long as the s78(1)(a-c) info is there thats all they worrry about.

Is a credt card exempt? No it isnt in general terms