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Before I reply back to Daniels Silverman, please can you tell me if the below CCA is enforceable? As I think that possibly it isnt enforceable due the the fact that there are no "electronic signature" or date details at the bottom of the CCA, therefore essentially all it is is a load of text.
Fixed-Sum Loan Agreement regulated by the Consumer Credit Act 1974
This Agreement is made between: - Us, Capital Finance One Limited of Copper House, 88 Snakes Lane East, Woodford Green, Essex, IG8 7HX ("the Creditor")
and You, ("the Debtor") Name: REMOVED Address: REMOVED
Key Financial Information
We offer different loan amounts depending on your level of custom -
First time customers : Up to £200
Second time customers : Up to £250
Third time customers : Up to £750
Amount of Credit: £250.00
Duration of Agreement: 14 days
Total Amount Payable: £347.50 to be repaid in a single payment on the 29/04/2011 (the "Payment Date")
APR: 538360.7%
Due Date: 29/04/2011
Percentage: 39%
Other Financial Information
Total Charge For Credit: £97.50
Interest is charged at the rate of 39%, pre-computed and applied to the balance outstanding on the date of this Agreement.
Key Information
If You default, our tariff charges are as follows: We will charge You the sum of £25 for missing the agreed payment. We will charge You the sum of £25 per letter for the first, second, third, fourth and fifth letter that we send to you in respect of the collection of any outstanding sums on your account. If You are in arrears for 14 days after the agreed due date, 39% of the original Amount of credit will be applied to the account. You must pay us any reasonable expenses and costs that We may incur
in tracing You if You move address without first notifying Us. In addition, You must pay us any reasonable expenses and costs we may incur in taking other steps to
enforce, or attempt to enforce, our rights against You under this Agreement, and You will be charged simple interest, both before and after judgment, at the rate set out above from the date payment falls due until payment is made.
Important - read this carefully to find out about your rights
The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with when this agreement was made. If they were not, the creditor cannot enforce this agreement without getting a court order. The Act also gives you a number of rights. You can settle this agreement at any time by giving notice in writing and paying off the amount you owe under the agreement. If you would like to know more about your rights under the Act, contact either your local Trading Standards Department or your nearest Citizens' Advice Bureau.
Missing Payments
Missing payments could have severe consequences and make obtaining credit more difficult.
By signing this Agreement, you agree to its terms which are set out above and in the terms and conditions sent with the Agreement.
Important: Use of Your Information
You have a right to know how we will use your personal information. It is important that you read clause 4 of the terms and conditions before you sign.
We may send you information about products of ours and others which may be of interest to you. We may also pass your details to other selected businesses to enable them to send you information about their products.
You have a right at any time to stop us from contacting you or giving your details to others for these purposes. If you wish us to stop, please enter your surname here
CANCELLATION RIGHTS
You have a right to cancel this Agreement for 14 days, beginning with the day after this Agreement is signed by Us. You may exercise this right by sending Us written notice. Please see clause 2.1 of the Terms and Conditions for more information on your right to cancel.
Terms and Conditions
1.1 We will pay the Amount of Credit (as set out in the section headed "Key Financial Information") into a bank account nominated by You. You confirm that your salary was paid last month, and will be paid on the Payment Date, into the bank account ('the Account'), identified in your application to Us and in the Bank Details sent to You with these terms. You will ensure that sufficient funds are available in the Account to repay us the Total Amount Payable.
1.1 We will pay the Amount of Credit (as set out in the section headed "Key Financial Information") into a bank account nominated by You. You confirm that your salary was paid last month, and will be paid on the Payment Date, into the bank account ('the Account'), identified in your application to Us and in the Bank Details sent to You with these terms. You will ensure that sufficient funds are available in the Account to repay us the Total Amount Payable.
1.2 You agree to pay Us the Total Amount Payable on the Payment Date, and You grant us permission to debit that sum from any Account that you have provided to us either before or after application, using either a cheque or debit card provided by yourself, or a standing order set up by yourself at our option. You are responsible for ensuring that any Payments sent to Us by post reach us in time for the funds to be paid into your account and clear on Your account by the Repayment Date. Please note - there is a possibility that taxes or costs may exist that are not payable by Us or imposed by Us.
1.3 All sums owed under the agreement shall become due and payable immediately upon us giving notice if:
(a) Any sum due is overdue by more than 1 day; or
(b) You have provided us with any false information when you entered into this agreement; or
(c) A statutory demand is served on you or any other steps are taken by you or any other person to make you bankrupt.
* Interest on any overdue amounts will be charged at 39% per 30 day period or part thereof, commencing the day after payment became due under the credit agreement, until the day your account is settled in full (including both before and after any judgment has been obtained against you).
* You authorise us to collect any monies owed under the Agreement from any debit card account of which you have supplied details to us. We may make these attempts as frequently and at any time we choose while there is an overdue balance on your loan account, up until the time where the total amount collected equals the total amount owed. At this stage it will be deemed that your loan has been fully repaid. We do not have to give notice of these intended collection attempts.
2.1 You will have a right to cancel this Agreement for 14 days, beginning with the day after this Agreement is signed by Us. You may exercise this right by giving us notice in writing by sending:
(i) a letter to Us at Capital Finance One Limited at Copper House, 88 Snakes Lane East, Woodford Green, Essex, IG8 7HX
(ii) a fax to Us. Our fax number is 08447707944; or
(iii) an email to Us. Our email address is info@capitalfinanceone.co.uk.
If You cancel the Agreement after we have made the advance, You will still be required to repay the Amount of Credit. If You do not exercise this right to cancel, You will still be able to settle this loan at any time prior to the Payment Date. You can settle this loan by paying the outstanding balance that is due and payable in full less any rebate which may apply under the Consumer Credit Act 1974.
2.2 By signing this Agreement You request us to make the advance prior to the expiry of the cancellation period, although You acknowledge that we are not under an obligation to do so.
2.3 If You cancel this Agreement:
(a) As soon as possible and in any event within 30 calendar days from the date on which You notified Us of the cancellation, we will refund any sum paid by or on behalf of You.
(b) You must refund any sum paid by or on behalf of Us under or in relation to this Agreement.
(c) However, we can charge You for services actually provided by Us in accordance with the terms of this Agreement.
3.1 This Agreement is unsecured.
3.2 If we do not enforce our rights under this Agreement at any time we will not be prevented from doing so later.
3.3 Any notice or demand we give will be assumed to have been properly given if served on You personally, or left or sent by prepaid envelope addressed to You at your current address or last known business or private address. If sent by first class post it will be assumed to have been received by You 48 hours after posting.
3.4 You grant us permission to contact your employer named in your Employment Details at anytime as may be reasonably required by Us.
3.5 We may transfer all or any of our rights under this Agreement.
3.6 We are registered at Companies House under number 06736553. Our main business is consumer lending and we provide short term credit facilities to debtors in return for the repayment of the credit and the payment of interest. We are authorised by the Office of Fair Trading, and our Consumer Credit Licence Number on its register is 623671.
3.7 If You have a complaint, we will investigate it and give any redress to which we feel you are entitled. As we are a member of the British Cheque Cashers Association, you may wish to contact them if you are unhappy with the result from discussions with us. If You are still not happy with this final response, You may have a right to have your complaint dealt with under the Financial Services Ombudsman Scheme, South Quay Plaza, 183 Marsh Wall, London E14 9SR or telephone 0845
080 1800 or 020 7964 0500. To do so, You would need to notify the Scheme in writing within 6 months of our final response.
3.8 The law of England and Wales is taken by us as a basis for the establishment of relations with You prior to the conclusion of the Agreement, and governs the Agreement. The contractual terms and conditions, and the prior information, are in English. We undertake, with your agreement, to communicate with You in English during the duration of this Agreement. This Agreement shall be construed according to the laws of England and Wales whose courts shall be the exclusive courts of
jurisdiction.
4. Use of Your Information
In considering whether to enter into this Agreement, we may search your record at credit reference agencies. They will add to their records about you, details of our
search and your application and this will be seen by other organisations that make searches. Our search of records at credit reference agencies may be linked to your
spouse/partner, or other persons with whom you are linked financially. For the purposes of any application or this Agreement you may be treated as financially linked
and you will be assessed with reference to "associated records".
We may also add to your record with the credit reference agencies details of your agreement with us, the payments you make under it and any default or failure to keep
to its terms. These records will be shared with other organisations and may be used and searched by us and them in order to:
l Consider applications for credit and credit related services such as insurance for you and any associated person;
l Trace debtors, recover debts, prevent or detect money laundering and fraud, and to manage your accounts.
It is important that you provide us with accurate information. We may check your details with fraud prevention agencies and if you provide false or inaccurate information or we suspect fraud, this information may be recorded. Fraud prevention agency records will be shared with other organisations to help make decisions on credit, motor, household, life and other insurance proposals or claims for you and members of your household.
Please write to us at our address stated above, or telephone us on if you require details of the credit reference agencies or any other agencies from whom we obtain, and to whom we pass, information about you. You have a legal right to these details. You have the right to receive a copy of the information we hold about you if you apply to us in writing. A fee will be payable.
Please complete the form below to digitally sign and accept your loan agreement by entering your surname and the code that was sent to you by email and SMS. You are entering into a legally binding agreement.
Fixed-Sum Loan Agreement regulated by the Consumer Credit Act 1974
This Agreement is made between: - Us, Capital Finance One Limited of Copper House, 88 Snakes Lane East, Woodford Green, Essex, IG8 7HX ("the Creditor")
and You, ("the Debtor") Name: REMOVED Address: REMOVED
Key Financial Information
We offer different loan amounts depending on your level of custom -
First time customers : Up to £200
Second time customers : Up to £250
Third time customers : Up to £750
Amount of Credit: £250.00
Duration of Agreement: 14 days
Total Amount Payable: £347.50 to be repaid in a single payment on the 29/04/2011 (the "Payment Date")
APR: 538360.7%
Due Date: 29/04/2011
Percentage: 39%
Other Financial Information
Total Charge For Credit: £97.50
Interest is charged at the rate of 39%, pre-computed and applied to the balance outstanding on the date of this Agreement.
Key Information
If You default, our tariff charges are as follows: We will charge You the sum of £25 for missing the agreed payment. We will charge You the sum of £25 per letter for the first, second, third, fourth and fifth letter that we send to you in respect of the collection of any outstanding sums on your account. If You are in arrears for 14 days after the agreed due date, 39% of the original Amount of credit will be applied to the account. You must pay us any reasonable expenses and costs that We may incur
in tracing You if You move address without first notifying Us. In addition, You must pay us any reasonable expenses and costs we may incur in taking other steps to
enforce, or attempt to enforce, our rights against You under this Agreement, and You will be charged simple interest, both before and after judgment, at the rate set out above from the date payment falls due until payment is made.
Important - read this carefully to find out about your rights
The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with when this agreement was made. If they were not, the creditor cannot enforce this agreement without getting a court order. The Act also gives you a number of rights. You can settle this agreement at any time by giving notice in writing and paying off the amount you owe under the agreement. If you would like to know more about your rights under the Act, contact either your local Trading Standards Department or your nearest Citizens' Advice Bureau.
Missing Payments
Missing payments could have severe consequences and make obtaining credit more difficult.
By signing this Agreement, you agree to its terms which are set out above and in the terms and conditions sent with the Agreement.
Important: Use of Your Information
You have a right to know how we will use your personal information. It is important that you read clause 4 of the terms and conditions before you sign.
We may send you information about products of ours and others which may be of interest to you. We may also pass your details to other selected businesses to enable them to send you information about their products.
You have a right at any time to stop us from contacting you or giving your details to others for these purposes. If you wish us to stop, please enter your surname here
CANCELLATION RIGHTS
You have a right to cancel this Agreement for 14 days, beginning with the day after this Agreement is signed by Us. You may exercise this right by sending Us written notice. Please see clause 2.1 of the Terms and Conditions for more information on your right to cancel.
Terms and Conditions
1.1 We will pay the Amount of Credit (as set out in the section headed "Key Financial Information") into a bank account nominated by You. You confirm that your salary was paid last month, and will be paid on the Payment Date, into the bank account ('the Account'), identified in your application to Us and in the Bank Details sent to You with these terms. You will ensure that sufficient funds are available in the Account to repay us the Total Amount Payable.
1.1 We will pay the Amount of Credit (as set out in the section headed "Key Financial Information") into a bank account nominated by You. You confirm that your salary was paid last month, and will be paid on the Payment Date, into the bank account ('the Account'), identified in your application to Us and in the Bank Details sent to You with these terms. You will ensure that sufficient funds are available in the Account to repay us the Total Amount Payable.
1.2 You agree to pay Us the Total Amount Payable on the Payment Date, and You grant us permission to debit that sum from any Account that you have provided to us either before or after application, using either a cheque or debit card provided by yourself, or a standing order set up by yourself at our option. You are responsible for ensuring that any Payments sent to Us by post reach us in time for the funds to be paid into your account and clear on Your account by the Repayment Date. Please note - there is a possibility that taxes or costs may exist that are not payable by Us or imposed by Us.
1.3 All sums owed under the agreement shall become due and payable immediately upon us giving notice if:
(a) Any sum due is overdue by more than 1 day; or
(b) You have provided us with any false information when you entered into this agreement; or
(c) A statutory demand is served on you or any other steps are taken by you or any other person to make you bankrupt.
* Interest on any overdue amounts will be charged at 39% per 30 day period or part thereof, commencing the day after payment became due under the credit agreement, until the day your account is settled in full (including both before and after any judgment has been obtained against you).
* You authorise us to collect any monies owed under the Agreement from any debit card account of which you have supplied details to us. We may make these attempts as frequently and at any time we choose while there is an overdue balance on your loan account, up until the time where the total amount collected equals the total amount owed. At this stage it will be deemed that your loan has been fully repaid. We do not have to give notice of these intended collection attempts.
2.1 You will have a right to cancel this Agreement for 14 days, beginning with the day after this Agreement is signed by Us. You may exercise this right by giving us notice in writing by sending:
(i) a letter to Us at Capital Finance One Limited at Copper House, 88 Snakes Lane East, Woodford Green, Essex, IG8 7HX
(ii) a fax to Us. Our fax number is 08447707944; or
(iii) an email to Us. Our email address is info@capitalfinanceone.co.uk.
If You cancel the Agreement after we have made the advance, You will still be required to repay the Amount of Credit. If You do not exercise this right to cancel, You will still be able to settle this loan at any time prior to the Payment Date. You can settle this loan by paying the outstanding balance that is due and payable in full less any rebate which may apply under the Consumer Credit Act 1974.
2.2 By signing this Agreement You request us to make the advance prior to the expiry of the cancellation period, although You acknowledge that we are not under an obligation to do so.
2.3 If You cancel this Agreement:
(a) As soon as possible and in any event within 30 calendar days from the date on which You notified Us of the cancellation, we will refund any sum paid by or on behalf of You.
(b) You must refund any sum paid by or on behalf of Us under or in relation to this Agreement.
(c) However, we can charge You for services actually provided by Us in accordance with the terms of this Agreement.
3.1 This Agreement is unsecured.
3.2 If we do not enforce our rights under this Agreement at any time we will not be prevented from doing so later.
3.3 Any notice or demand we give will be assumed to have been properly given if served on You personally, or left or sent by prepaid envelope addressed to You at your current address or last known business or private address. If sent by first class post it will be assumed to have been received by You 48 hours after posting.
3.4 You grant us permission to contact your employer named in your Employment Details at anytime as may be reasonably required by Us.
3.5 We may transfer all or any of our rights under this Agreement.
3.6 We are registered at Companies House under number 06736553. Our main business is consumer lending and we provide short term credit facilities to debtors in return for the repayment of the credit and the payment of interest. We are authorised by the Office of Fair Trading, and our Consumer Credit Licence Number on its register is 623671.
3.7 If You have a complaint, we will investigate it and give any redress to which we feel you are entitled. As we are a member of the British Cheque Cashers Association, you may wish to contact them if you are unhappy with the result from discussions with us. If You are still not happy with this final response, You may have a right to have your complaint dealt with under the Financial Services Ombudsman Scheme, South Quay Plaza, 183 Marsh Wall, London E14 9SR or telephone 0845
080 1800 or 020 7964 0500. To do so, You would need to notify the Scheme in writing within 6 months of our final response.
3.8 The law of England and Wales is taken by us as a basis for the establishment of relations with You prior to the conclusion of the Agreement, and governs the Agreement. The contractual terms and conditions, and the prior information, are in English. We undertake, with your agreement, to communicate with You in English during the duration of this Agreement. This Agreement shall be construed according to the laws of England and Wales whose courts shall be the exclusive courts of
jurisdiction.
4. Use of Your Information
In considering whether to enter into this Agreement, we may search your record at credit reference agencies. They will add to their records about you, details of our
search and your application and this will be seen by other organisations that make searches. Our search of records at credit reference agencies may be linked to your
spouse/partner, or other persons with whom you are linked financially. For the purposes of any application or this Agreement you may be treated as financially linked
and you will be assessed with reference to "associated records".
We may also add to your record with the credit reference agencies details of your agreement with us, the payments you make under it and any default or failure to keep
to its terms. These records will be shared with other organisations and may be used and searched by us and them in order to:
l Consider applications for credit and credit related services such as insurance for you and any associated person;
l Trace debtors, recover debts, prevent or detect money laundering and fraud, and to manage your accounts.
It is important that you provide us with accurate information. We may check your details with fraud prevention agencies and if you provide false or inaccurate information or we suspect fraud, this information may be recorded. Fraud prevention agency records will be shared with other organisations to help make decisions on credit, motor, household, life and other insurance proposals or claims for you and members of your household.
Please write to us at our address stated above, or telephone us on if you require details of the credit reference agencies or any other agencies from whom we obtain, and to whom we pass, information about you. You have a legal right to these details. You have the right to receive a copy of the information we hold about you if you apply to us in writing. A fee will be payable.
Please complete the form below to digitally sign and accept your loan agreement by entering your surname and the code that was sent to you by email and SMS. You are entering into a legally binding agreement.
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