Excessive bank charges - anybody going to complain to their bank?

[EmmaG]

Originally Posted by charliebubs

I'll second that - a big thank you to Emma!!!!!

I think most of the thanks really needs to go to the Consumer Action Group as I have learnt so much about these types of charges and also about other debts etc.

Do you know that a credit card debt/loan cannot be enforced if the company you have the agreement with cannot supply a copy of the original credit agreement signed by yourself?

[charliebubs]

But we wouldn't know if you hadn't posted on here.......so a big thank you for that, if nothing else!!!!

That's interesting about the loan/credit cards. Maybe I'll call my loan company and ask for a copy of the credit agreement and see if they can supply it!!! lol

[Fran]

Originally Posted by EmmaG

I think most of the thanks really needs to go to the Consumer Action Group as I have learnt so much about these types of charges and also about other debts etc.

Do you know that a credit card debt/loan cannot be enforced if the company you have the agreement with cannot supply a copy of the original credit agreement signed by yourself?

I knew this was the case for Catalogue home shopping companies but didn't realise it was the case for all debt/loan type agreements.

[EmmaG]

Charlie you need to write a certain letter which gives them 12 WORKING days to produce the agreement after this time if they have not you can stop the payments and after a 40 further days if they haven't produced the agreement they have comitted a criminal offence and the debt becomes unenforceable. I have seen people on the Consumer Action Group actually getting refunded back all of the money they have paid to a loan because the company could not produce the agreement.

Makes for interesting reading

[EmmaG]

Originally Posted by Fran

I knew this was the case for Catalogue home shopping companies but didn't realise it was the case for all debt/loan type agreements.

Fran it applies to any loan/credit agreement, although secured loans (on cars and houses) are a little different.

[charliebubs]

Originally Posted by EmmaG

Charlie you need to write a certain letter which gives them 12 WORKING days to produce the agreement after this time if they have not you can stop the payments and after a 40 further days if they haven't produced the agreement they have comitted a criminal offence and the debt becomes unenforceable. I have seen people on the Consumer Action Group actually getting refunded back all of the money they have paid to a loan because the company could not produce the agreement.

Makes for interesting reading

OMG!! That really is amazing Emma. I shall have a look into that too!! One thing at a time though!!

[EmmaG]

It can be worth doing Charlie, thanks to the Consumer Action Group as well as having £10,000 refunded back to us, for me out of 7 (comprising of loans, credit cards, store cards etc) I had with balances on all but one has either been paid off or they cannot provide the agreement, so but debts have gone from 7 payments to 1

[Fran]

So Emma, am I correct in thinking that if a credit card company cannot supply you with the original signed agreement by you then the debt can become null and void?

[EmmaG]

You have got it Fran. They would have to take you to Court and get a court to decide that you should pay the debt, however as they have comitted a criminal offence by obtaining money without the agreement it would be very unlikely that they would go down that route. Basically by not having the signed agreement they are in more trouble than you would be if you didn't pay the instalments.

Also they could lose their credit licence.

[EmmaG]

I have disputed two of my debts in July, (two barclaycards) and I have heard nothing from them, so I stopped payments, if they have put any defaults on my credit record, by law they must remove them.