Is it classed as settled or not

[Sharkie]

If you have received a CCA form a credit card company, which as usual its a copy of a copy of an application for a credit card with various required information missing, and therefore deemed to be unenforceable.

Are you within your rights to claim the account is settled if the total of your drawings & purchases, is less than the total of all credits made.

e.g. Based on the fact you have paid for everything you have either purchased, and or been advanced, plus a bit more.

[scottishlass]

Re: Is it classed as settled or not

Sorry if this seems a stupid question, are you saying that all that is left to pay on the account is charges that have been added to the account?

Have you sent a SAR to see exactly what has been added?

[Sharkie]

Re: Is it classed as settled or not

Sorry if this seems a stupid question, are you saying that all that is left to pay on the account is charges that have been added to the account?

Have you sent a SAR to see exactly what has been added?

Thanks for the reply

Basically

If you have all of the information regarding the account from start to present, and or finish, so there are no estimates only actuals.

Total of all payments/credits minus total of all purchases/drawings (including transfers etc.)

Therefore, "the current balance" is technically charges, interest, etc that has not been agreed.

[Amethyst]

Re: Is it classed as settled or not

Have the company agreed not to pursue the debt any further on the basis of an unenforceable contract ?

[Sharkie]

Re: Is it classed as settled or not

No chance.

What I am asking is, if you are in a situation where you can show that all purchases/drawings/transfers have been paid for, and that the agreement is not enforceable, how do you resolve it.

Would it be legally classified as settled as the current balance showing is just an amalgamation of charges, and, or interest.

[WendyB]

Re: Is it classed as settled or not

Best thing to do, I think (but I could be wrong here) is SAR, get list of charges, do Prelim LBA file at court. Win. The money you get back will be credited onto the account and cancel out the outstanding balance. Plus you'd get s69 interest at 8% so you might have a little bit left over for yourself. Which credit card company is it?

[Sharkie]

Re: Is it classed as settled or not

Best thing to do, I think (but I could be wrong here) is SAR, get list of charges, do Prelim LBA file at court. Win. The money you get back will be credited onto the account and cancel out the outstanding balance. Plus you'd get s69 interest at 8% so you might have a little bit left over for yourself. Which credit card company is it?

You've missed the point slightly.

I've done that before and won several times.

I'll give a rough example

Current Balance £6500

Total of all purchases/drawings/transfers since beginning of card issue £23,500

Total of all payments/credits since the beginning of card issue £24,000

With no enforceable agreement in place, over time "technically the account has been paid plus £500.00.

The current balance is an amalgamation of charges, interest, PPI, etc.

The question is could you be forced to pay the current balance.

[Amethyst]

Re: Is it classed as settled or not

I think the answer to that is no - however I don't know about the marked as settled on the CRA without the creditor agreeing that the rest is written off ?

[Sharkie]

Re: Is it classed as settled or not

I think the answer to that is no - however I don't know about the marked as settled on the CRA without the creditor agreeing that the rest is written off ?

I don't think it would be forced as common sense would show that you have paid more than you have had.

The key is to get a judgement on the validity of an agreement as quick as possible, who can you send it to that carries enough weight to then make the credit card company mark it as settled and then remove all adverse data.

In this sort of situation any claim for charges plus some interest will in no way cover the current balance.

[TANZARELLI]

Re: Is it classed as settled or not

A court would need to rule that the agreement is unenforcable. Following the Rankine judgment there is a school of thought that it is now better for a Creditor or a DCA if they have legal assignment of the debt to take you to court rather than you to attempt to take them to court. That way your defence is that the agreement is you beleive unenforcable and the charges arguement could also feature in your defence and/or in any counter claim to show that the balance outstanding is not a true balance total anyway.

Tanz

[Glenn UK2]

Re: Is it classed as settled or not

why take the cc comapny to court over the charges, they counter claim with the enforcable agreement approach since unless you have told them of your thoughts/position rthey will assume you are a hpaless consumer who knows nothing, you then defend the counterclaim using the unenforceable agreement route?

Just a thought

glenn

[willowb]

Re: Is it classed as settled or not

lol not lost your no-nonsense approach I see Glenn!

Wxxx