mbna sold to Westcot Oct.. just got a letter from mbna re CCA

[mtm103]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

Thanks

Well, not sure what to do!! mbna said above they don't want to know and will ignore my letters, westcot don't know (as I only have arrow global reference)..

Part of me wants to tell them we will see them in court, but then scared they might actually do that!!

[Angry Cat]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

One wonders what they are hoping to achieve if there are no assets?

Further, if there is no enforceable credit agreement it would be extremely risky for them to take the matter to court.
The DCA firm are no doubt aware of the courts overriding objective.

[Angry Cat]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

From what you have posted, it does look as if they have not even sent a credible reconstruction of the agreement.

They are not permitted to reconstruct, if they do not have the correct issue T&C's upon which to base the reconstruction, together with the terms as varied.
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hopefully, you are able to locate the Default Notice.

[mtm103]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

One wonders what they are hoping to achieve if there are no assets?
.

I am not sure if they know that.. the original application form from 1994 show he owned a house and how much he earned at the time, but he lost both after his divorce.. having said that they can see on his credit report that he has other debts.. Lloyds credit card has written to say they are increasing his % to 30% (he only pays min on those too), so they must have noticed...

Is it worth telling them he owns nothing, and his salary can't pay any of the debts? (He lives in my house, in my name, and we are not married, he doesn't contribute towards the mortgage)

[mtm103]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

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hopefully, you are able to locate the Default Notice.

I have the default notice, but not sure how much it will help. date on letter is 7 July, to pay £2,864.47 by 24 July 2011. On July 13 he also got another notice of sums of arrears, but only asking for 971.9.
i don't know when it was sold, as we never heard from them apart from letter from arrow global, and 3 november letter..

Thanks

[Angry Cat]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

I have the default notice, but not sure how much it will help. date on letter is 7 July, to pay £2,864.47 by 24 July 2011. On July 13 he also got another notice of sums of arrears, but only asking for 971.9.
i don't know when it was sold, as we never heard from them apart from letter from arrow global, and 3 november letter..

Thanks

Please clarify the following from one of your earlier posts:

Last payment was in December 2010 as he was paying over 2,000 pounds a month on interest payments alone. Now it has gone to Arrow Global. They gave me the ref number and they said to use that when contacting Westcot

[Angry Cat]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

...they can see on his credit report that he has other debts.. Lloyds credit card has written to say they are increasing his % to 30% (he only pays min on those too)...

Re: the Lloyds debt.
I would suggest that your friend write to same, enclosing a budget sheet requesting that they freeze the interest.

National Debtline have wealth of information that may help you in the form of fact sheets/budget form etc:
National Debtline Call 0808 808 4000

[labman]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

Re: the Lloyds debt.
I would suggest that your friend write to same, enclosing a budget sheet requesting that they freeze the interest.

National Debtline have wealth of information that may help you in the form of fact sheets/budget form etc:
National Debtline Call 0808 808 4000

It sounds to me like he should be thinking of going into a Debt Management Plan, either self-managed, or if you pm Celestine in Site Team, I'm sure she knows a good organisation that has been used by people on here before.

If he wants to go self-managed, I would suggest he goes the CASHflow route (Google it spelt like that, or look under Money Advice Trust). The idea of this is that a suitably licensed person (again Celestine will know someone) can give you an Income / Expenditure form, you then fill it in and they sign it for you as a genuine picture of your situation. This should then hold the same weight as a Common Financial Statement, so there should be vast pressure on creditors to accept it, freeze interest and charges etc....

[Guest]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

http://www.johnpughschambers.co.uk/C..._Regs_1983.pdf

See page 12 onwards

Hi Labman, hope you dont mind
The earlier link refers to the amended version of the regs, the form a content requirements where altered in May 2005, the following give the originals.
http://www.legislation.gov.uk/uksi/1983/1553/made
They probably mention section 59 because the act would consider the agreement not only unenforceable if this were breached but void, therefore they would not be able to ask for payment, which of course they can if it is unenforceable.
From what you say it sounds like they would need an enforcement order under section 65, although I don’t think that this would be a problem as none of the failures mentioned are prescribed terms.
Minor point, the contract would not be cancellable under the statute and therefore the creditor can get away without a date on his signature, also lack of the creditors signature is in itself not a fatal breach only a required term.
Peter

[labman]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

Peter,
Of course I don't mind. As you say, the omission is minimal and could easily be rectified, so I would imagine a DMP of some sort would be the way forwad. Purely my opinion of course.

[winner12]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

Hi
If it helps National Debtline did the CASHflow statement for me worked a treat apart from Capital One and Shop Direct both these accounts I have found a way to dispute but get loads of hassle from DCA over them .

[mtm103]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

The 2,000 was the interest he was paying was across all loans, not just mbna (mbna was 500 a month).
The Lloyds cc are not that much and I can move those to one of my credit cards (0% interest free) and we can pay those off bit by bit (or I can pay them off). The remainder of the loans unfortunatley are with a local "company", and there is no way he can stop paying those (there is definitely no credit agreement with those!!)

Sorry, I never said he was particularly financially capable, I sometimes can't believe how stupid (or maybe desperate) he has been.

Thanks
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The 2,000 was the interest he was paying was across all loans, not just mbna (mbna was 500 a month).
The Lloyds cc are not that much and I can move those to one of my credit cards (0% interest free) and we can pay those off bit by bit (or I can pay them off). The remainder of the loans unfortunatley are with a local "company", and there is no way he can stop paying those (there is definitely no credit agreement with those!!)

Sorry, I never said he was particularly financially capable, I sometimes can't believe how stupid (or maybe desperate) he has been.

Thanks

I should also add he did go to Lloyds to ask to reduce the interest % and they told him no

[Angry Cat]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

The 2,000 was the interest he was paying was across all loans, not just mbna (mbna was 500 a month).
The Lloyds cc are not that much and I can move those to one of my credit cards (0% interest free) and we can pay those off bit by bit (or I can pay them off). The remainder of the loans unfortunatley are with a local "company", and there is no way he can stop paying those (there is definitely no credit agreement with those!!)

Sorry, I never said he was particularly financially capable, I sometimes can't believe how stupid (or maybe desperate) he has been.

Thanks
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I should also add he did go to Lloyds to ask to reduce the interest % and they told him no

Sounds like your friend has had the income to pay these debts.

With respect, I would advise caution about transferring another individuals debt (Lloyds) onto your own credit card.

[Angry Cat]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

The remainder of the loans unfortunatley are with a local "company", and there is no way he can stop paying those (there is definitely no credit agreement with those!!)

Agreements not covered by the Consumer Credit Act
The following kinds of agreement are not covered by the Consumer Credit Act:
agreements to hire gas, electricity or water meters
agreements where you have to pay off what you owe in full each time, for example, charge cards or milk bills
mortgages
credit union loans
loans from an employer
some short term trade agreements.
Your rights for these agreements will only depend on what is written in the contract, not on what is in the Consumer Credit Act

Dealing with loan sharks : Directgov - Money, tax and benefits

[labman]

Re: mbna sold to Westcot Oct.. just got a letter from mbna re CCA

Contract Law can get quite complex, so tread carefully, and if in doubt post up.