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CCA even when it is uneforcable it is still enforcable!

PostPosted: Mon Oct 12, 2009 7:12 am
by rodgreenwell
Even when the contract they use is flawed, they can still get away with it...

The CCA... what is its real value???

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6868968.ece

Re: CCA even when it is uneforcable it is still enforcable!

PostPosted: Mon Oct 12, 2009 7:16 am
by kevin
this is the problem we face, when we start having success, they change the goal posts, it just goes to show which side of the fence courts are on (as if we didn't know all ready)

Re: CCA even when it is uneforcable it is still enforcable!

PostPosted: Mon Oct 12, 2009 8:13 am
by MikeThomas
Spot on Kevin!! I wonder what was in it for the Judge?

Re: CCA even when it is uneforcable it is still enforcable!

PostPosted: Thu Oct 22, 2009 9:49 pm
by cmidian
hi
Im just about to send my first letter to ltsb reguarding my unsecured bank loan.....asking for original agreement etc... does this mean thats all out the window now or am i gettin my wires crossed and this is something else...sorry quite new to all this.
thanx cmidian

Re: CCA even when it is uneforcable it is still enforcable!

PostPosted: Thu Oct 22, 2009 10:01 pm
by huntingross
Mr Justice Flaux ruled: “Although the [Consumer Credit Act] may render the agreement unenforceable, the agreement remains a valid and subsisting contract and rights and obligations under it continue to exist”.


It's unenforceable but still valid......duh.

To my mind that writes the CCA out of the agreement, in which case the agreement is very thin.....so where is the provision for repossession, minimum periods etc....they're all in the CCA......and if they can't provide the original or at least a copy of the agreement, do they know what they are actually holding you to ??? No, how could they....you would rightly say that isn't my understanding of what we signed up to.....This is a farse when you start pulling it apart.

Off the top of my head, I'd write them a 3 day Notice and tell them you have slashed the interest rate to Zero for the term of the remaining agreement....and then hold them to it.

FMOTL Michael is red hot on this stuff.....

Re: CCA even when it is uneforcable it is still enforcable!

PostPosted: Sun Oct 25, 2009 1:04 pm
by Highspirit
The ruling you refer to in the Times is not as severe as you think. It has been mis-reported (surprise surprise) by the media. In fact the CCA is still very much in force and this case only refers to wether the Lenders can place defaults on a credit file during a period of challenging the agreement's validity.

HS

Re: CCA even when it is uneforcable it is still enforcable!

PostPosted: Sun Oct 25, 2009 2:21 pm
by Farmer
In the article it stated:

Chris Busby, a partner at Eversheds, said: “The judgment said that claimants seeking to prove their credit agreements are unenforceable are still liable for monies owed. It’s a major blow to CMCs who have been suggesting otherwise.”


The thing is, they do not advance you monies, they create cridit which is not the same thing.

Also, in the Currency and Banknotes Act 1928, there is the following:

4. - (4) Any currency notes called in but not cancelled before the appointed day may be exchanged for bank notes of the same value.


and at the bottom:

(3) In this Act, unless the context otherwise requires,—
The expression “the Bank” means the Bank of England:
The expression “bank note” means a note of the Bank:


Notice that currency is not defined, because currency is not money. And what do we all know now? That credit is currency as it is all based on debt.

Re: CCA even when it is uneforcable it is still enforcable!

PostPosted: Mon Oct 26, 2009 7:07 pm
by Michaelangelo Coparo
Highspirit wrote:The ruling you refer to in the Times is not as severe as you think. It has been mis-reported (surprise surprise) by the media. In fact the CCA is still very much in force and this case only refers to wether the Lenders can place defaults on a credit file during a period of challenging the agreement's validity.

HS


What youre saying is, this court case only decided about the period during a 'dispute' ?

Re: CCA even when it is uneforcable it is still enforcable!

PostPosted: Tue Oct 27, 2009 11:28 am
by Highspirit
Yes and the comment made by the solicitor is also out of context and not fully reported either. Se how the media are tryng to discourage people from making valid claims? Anyway, the commercial lien process or 'Notice Requesting Adequate Assurance' appears to be the better way forward for these matters.

HS