Over £149 million to be repaid by lenders ref CCA failings post contractual info

[ncf355]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Curses!

[winner12]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Think all our accounts will be in dispute then oh dear
Cant wait to see the outcome of this fallout

[dogtired]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Think my Mum had the right idea, split Dads wage into seperate jars or purses and paid in cash, any spare went in yet another jar for treats.

[di30]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Hi folks, did anyone get the chance to check out my default notice of 2009 -I posted up above somewhere please?

Just wondered what your thoughts are on this please in relation of this latest issue of OFT/Bank refunds etc? (not even sure if Lloyds are involved yet) lol.

[dogtired]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Looks like the one we had ages ago that was part of a HBOS loan.
Dont think we need to bet which banks are involved. LOL !

[Amethyst]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

One of my default notices from 2009, what are your thoughts on this one please? thanks x

Well I think it's pretty comprehensive... but check through http://www.legislation.gov.uk/uksi/2...lation/19/made

http://www.legislation.gov.uk/uksi/2.../3/part/5/made is there anyway

[di30]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Did I add on here somewhere that we were issued with default notice as the one stated above a few years ago, for just missing one month's repayment? (It was sent to us within that first month), probably didnt even reach a month!

Shouldnt it have been 45 days before they issue you with one?

[ncf355]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Hmm, not sure if there are a specific number of days for the issue of a DN?

As far as the registering of the Default on CRA files, ICO states reasonable timeframe is after 3-6 months of the 'breakdown of relationship' - I appreciate CRA defaults are a different bag to the S87 DN.

Though in some cases the early issue of a S87 DN could be of help as you can state your 6 year clock on the CRA default should start when they issued this, as it shows xlear 'breakdown of relationship' (assuming the DN wasnt satisfied by payment of the arrears of course!)

[ncf355]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

I'm unsure if the current post contractual info debate on this thread really hits Default notices - surely the terms for those were already prescribed by the CCA prior to these changes - this is more to do with arrears notices and monthly/annual statement content?

[ncf355]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

I have an issue where RBS paid out on PPI for a card, but from the historic statements/chase letters its also clear they did not comply with the regs being brought up in this latest 'scandal' so would think they need to pay something with regards to the interests charges that they didnt account for in the PPI payout.

Where I think a lot of lenders fell down is when they sent an account to a 3rd party DCA for collection they then simply 'forgot' about the account until such time it came back to them (either for re issue to a different DCA, or in house debt collection) and hence didnt send out the information required.

I can remember one lender arguing they had stopped interest charges on a crad account as 'goodwill' when in fact it would appear they actually had noo lawful right to charge interest due to this legislation.

[Tools]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Just spoken to Mario who is leading this investigation. I asked if they were able to disclose the names of the 17 banks/building societies involved but unfortunately this information has been resricted.

He did however indicate that anyone affected should be contacted by their bank/BS in due course, stopping short of saying they had been "instructed" to do this but saying they were "encouraged" to.

The responsibility for overseeing this matter will be passed to the FCA on 1st April, many of the OFT staff involved in this and other areas will be transferred across to the FCA to continue the work already being done.

[di30]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Thank you Tools for this info and for what you have done for us....:tinysmile_twink_t2:

I wonder if they will be given a timescale on when to refund customers?

[Amethyst]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Just spoken to Mario who is leading this investigation.

You sure it wasn't Theo ?

[Tools]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Shut it you Mrs, his surname was theo.......(greek) I got confused

Di, when it moves over to FCA I will try again to get the list and try find out the time scales, worth a shot but doubt they will disclose.

[di30]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Thank you Tools, much appriciated :tinysmile_twink_t2: