Hi All
In 1980 I opened a credit card and in 2007 I requested a cca to which they were unable to produce so this became unenforceable.
However I have just received the folloing correspondence:
It has come to our attention that we advised you incorrectly reagrding the status of your account. We overlooked the fact that your account was opened in 1980 and S78 was brought into force on 19.5.1985. Schedule 3 of the 1974 act states that s.78 applies to an agreement made before 19.5.1985 where the agreement would have been regulated agreement if made on that day.
As such under regulation 9 of the copy documents regulations specifies that in the case of an agreement made before 19.5.1985 it is sufficient to supply a copy of the current terms - that acts as a true copy. As we have supplied these documents to you, we have now fully complied with the request which means the agreement is enforceable. You should continue/or now make payments to the account to avoid any further action being taken.
Is this correct and what does it mean? Advice would be much appreciated.
NN
In 1980 I opened a credit card and in 2007 I requested a cca to which they were unable to produce so this became unenforceable.
However I have just received the folloing correspondence:
It has come to our attention that we advised you incorrectly reagrding the status of your account. We overlooked the fact that your account was opened in 1980 and S78 was brought into force on 19.5.1985. Schedule 3 of the 1974 act states that s.78 applies to an agreement made before 19.5.1985 where the agreement would have been regulated agreement if made on that day.
As such under regulation 9 of the copy documents regulations specifies that in the case of an agreement made before 19.5.1985 it is sufficient to supply a copy of the current terms - that acts as a true copy. As we have supplied these documents to you, we have now fully complied with the request which means the agreement is enforceable. You should continue/or now make payments to the account to avoid any further action being taken.
Is this correct and what does it mean? Advice would be much appreciated.
NN