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Hi All,
This is an interesting one;
Amount borrowed - £4690 (plus interest) over 48 months APR 15.67%
My partner bought a car from a local garage (October 2005) the salesman did not mention that the means of financing was
a Barclaycard motor loan (via Clydesdale Financial Services) - essentially acting in the same way as a credit card?
After much tooooing and frooooowing and a great deal of default sum charges added to the account (even when the payment was made correctly and on time!!!), the account defaulted April 2009 with a balance of £3300 and arrears of £300.00.
Mercers debt collection then took over trying to chase the debt!
We were then notified in December 2011 that the debt had been sold to Capquest who then placed another default on my partners credit account (can they do that?)
I have requested a copy of the agreement effecting the assignment between Clydesdale and Capquest and they are not giving it to us stating that it has nothing to do with us
They have given us a photocopy of the original agreement signed by my partner and on behalf of Clydesdale by someone. We have also been given a statement of the account (helpfully giving me all the details of the unlawful default sum charges and check returned charges)
In the terms and conditions of the agreement it states, ' You have no right to cancel the agreement under the Consumer Credit Act 1974. the Timeshare Act 1992 or the Financial Services (Distance Marketing) Regulations 2004'
I'm not a legal mind but surely the above statement is wrong?
Would anyone be able to give me an idea of my next step would be?
Many thanks
PB
This is an interesting one;
Amount borrowed - £4690 (plus interest) over 48 months APR 15.67%
My partner bought a car from a local garage (October 2005) the salesman did not mention that the means of financing was
a Barclaycard motor loan (via Clydesdale Financial Services) - essentially acting in the same way as a credit card?
After much tooooing and frooooowing and a great deal of default sum charges added to the account (even when the payment was made correctly and on time!!!), the account defaulted April 2009 with a balance of £3300 and arrears of £300.00.
Mercers debt collection then took over trying to chase the debt!
We were then notified in December 2011 that the debt had been sold to Capquest who then placed another default on my partners credit account (can they do that?)
I have requested a copy of the agreement effecting the assignment between Clydesdale and Capquest and they are not giving it to us stating that it has nothing to do with us
They have given us a photocopy of the original agreement signed by my partner and on behalf of Clydesdale by someone. We have also been given a statement of the account (helpfully giving me all the details of the unlawful default sum charges and check returned charges)
In the terms and conditions of the agreement it states, ' You have no right to cancel the agreement under the Consumer Credit Act 1974. the Timeshare Act 1992 or the Financial Services (Distance Marketing) Regulations 2004'
I'm not a legal mind but surely the above statement is wrong?
Would anyone be able to give me an idea of my next step would be?
Many thanks
PB
