Black Horse Loan CCA Help Please

[gum]

Hi All, I have a loan with Black Horse and ran in to financial probelems and had an agreement with them for 6 months and recently renewed for a further six months. I wrote to them two weeks ago and requested copy of the loan agreement and they sent it to me last Wednesday. Please may I ask you check the loan agreement and advise whether it is enforceble? i;e prescribed terms etc.. The loan was taken in 2008

A. Amount of Credit
a) Shows on agreement

B. Number of repayments : missing
a) Amount of repayments : missing
b) Frequesncy and timing of repayments: missing
c) Dates of repayments : Stated (OK)

C. Rate of interested
c) Shows shows on agreement

D. Credit loan limit
d) shows on agreement

To my certain knowledge these prescribed terms should be on one single document. I will appreciate your advise if one of you who knows about the subject can advise me whether this agreement is enforcable? Have attached the agreement I received from them.

Thank you kindly ..Gum

[WelshMam2009]

Re: Black Horse Loan CCA Help Please

Your first difficulty Gum is that this agreement is post April 2007.

This means that the revisions of CCA 2006 kick in, particularly section 15 of the 2006 Act which repealed sections 127(3) to (5) of the 1974 Act. Consequently there is no automatic uneforceability which means that a court has the power to determine in its discretion whether agreements are enforceable in accordance with section 127(1) and (2) regardless of the breach in question.

A quick glance suggests that this agreement is enforceable although I have not calculated whether the charge for credit is the correct figure.

There don't appear to be any complicating factors such as PPI or part of the loan being used to pay off another loan so, on the face of it, I would be inclined to say that this agreement is indeed enforceable.

Any other opinions most welcome!