Calling all Barclayloan Select CCA Experts - Help with enforceability PLEASE!

[tinsie1970]

My husband and I have the same Barclayloan Select Agreement, his is in default as he lost his job, mine is not (although I managed to get the interest frozen) because I am a homeowner and am worried about impact to our property.

 

My husband is unable to tell me whether he received a default notice, but has has not been paying anything on this loan for a while now. Needless to say, he is receiving a lot of calls from the DCAs, and threats of court action.

 

We have had Kerobo Claims look at this "agreement", and they told us their experts say it is enforceable, but Steven4064 posted his opinion on a nearly identical "agreement" and said he thought this was not enforceable. This is that thread http://www.consumeractiongroup.co.uk/forum/barclays-bank/187149-barclays-select-agreement-ppi.html

 

So now I am confused and need all your help here, as we are saddled with a large amount of debt between the two of us, and we cannot afford to repay it.

 

This is basically the application form we signed when we asked for the loan, and it says that it is both an application and an agreement. It has some T&Cs in the back, but no indication of the approved credit limit (only the requested one).

 

Please can someone have a look at this "agreement" and help us figure out what to do next?

 

Thanks for any help!!

Tinsie

Barclayloan Select.pdf

[slick132]

Hi Tinsie,

 

From what I can see, your credit agreement is not enforceable for the same reasons given by Steven4064 about Sunshine's agreement at post #31 on that thread.

 

If you want to set about arguing that the agreement is not enforceable, follow the steps that Sunshine took.

 

You should remember that Barclays can and will pursue the alleged debt. However, if they decide to take this to court, the judge should not rule in the bank's favour.

 

It may be better to continue to try and pay the debt, if not now, then perhaps when you can afford it. But this is your choice.

 

Roughly what is still owing on the loan and what do you want to do about it.

 

[tinsie1970]

Thanks Slick

 

here is why I am confused... Steven said that certain things were missing, but are they not on the back of the form, except for the credit limit?

Maybe Steven4064 sees this thread and can comment in the details himself.

 

We collectively owe £45k, my husband's company went belly up and he had used the loan in my name to finance the company, so now that the company is closed, we really cannot afford to pay this

This is not the only debt we have, so I am really looking for a way out of this mess...

 

Has anyone been successful at arguing the unenforceability of a Barclayloan Select on this forum? I looked, but could not find much beside the thread I referenced

 

Thanks!!!

Tinsie

[slick132]

For those who haven't seen Steven's comments about Sunshine's agreement, he said:-

 

I had a quick look and this obviously isn't an agreement (despite what it says at the top). It should have a title like "credit agreement regulated by the consumer credit act 1974", which it doesn't. Neither does it have any of the prescribed terms relevant for a loan agreement - amount of loan, how loan is to be repaid, rate of interest. It doesn't have cancellation rights. Need I go on?

 

This is not a properly executed agreement and it is not enforceable under s65 either.

 

He was quite emphatic in his response and would say the same about your document, as it's the same as Sunshine's, is it not.

 

What is left owing on this loan roughly.

Edited February 13, 2010 by slick132

[tinsie1970]

Hi Slick

this loan (in my husband's name) owes about £23k - the other one (in my name), which is similar to this, owes £22k... the total is £45k as per my previous post

 

Now, to the question of enforceability:

 

1) the document is not titled "Credit Agreeent etc." but there is a section saying "Credit Agreement Regulated by the Consumer Credit Act" right before the signature

 

2) It has a general statement about cancellation right and that more info will be sent

 

3) the APRs are on the back, and it mentions monthly repayments (though no length)

 

4) there is no limit (other than the requested one)

 

5) more importantly, this product is really two products, one is a regular fixed term loan, the other is a running agreement, but the form treats them both as one agreement instead of two separate agreement

 

What puzzles me is that also Keith Park Solicitors (which the Entitlements Agency uses to evaluate enforceability, and who saw my "agreement"), have written us back saying in their opinion this is enforceable, hence my hesitation.

 

Thanks for any additional clarification!!

Tinsie

Edited February 13, 2010 by tinsie1970
forgotten to add point 5)

[slick132]

I've asked for further input from the Site Team on this.

 

[tinsie1970]

thanks, eagerly awaiting for more input before I trigger any letter

[mark1arby]

Subbing with interest.

 

Cheers, MARK

[slick132]

Hi Tinsie,

 

Sorry, I've had no response yet so have nudged my request for input.

 

Thanks for your patience.

[steven4064]

Sorry guys - been very busy.

 

The agreement in post 1 is a perfectly valid agreement. Some nitwit has photocopied it with Barclays headed notepaper in the feed tray (doesn't affect its validity, unfortunately).

 

It has your signature and it has the prescribed terms in items 5 and 6 on the second page. It is therefore properly executed.

[slick132]

Hi Tinsie,

 

Not the answer you'd have liked to see but better to know this now than further down the line.

[tinsie1970]

Sorry guys - been very busy.

 

The agreement in post 1 is a perfectly valid agreement. Some nitwit has photocopied it with Barclays headed notepaper in the feed tray (doesn't affect its validity, unfortunately).

 

It has your signature and it has the prescribed terms in items 5 and 6 on the second page. It is therefore properly executed.

 

Thanks Steven

since I thought my agreement is pretty much identical to the one in the other post referenced in post#1, which you had assessed as not properly executed, can you kindly let me know what is different about this one?

 

Also, is the fact that this is two lending products, a running agreement and a fixed term loan, not relevant?

 

And finally, where does it talk about the term of the agreement or the approved limit? These terms seem to be missing

 

thanks again for clarifying

Tinsie

[tinsie1970]

subbing (to stop sobbing )

[supasnooper]

As the documentation refers to a loan, the amunt of credit would be the loan amount which is clearly stated.

 

Have Barclayloan sent a Default Notice under s87 of the Consumer Credit Act ?

[tinsie1970]

Thanks Supasnooper

 

I have not received a DN yet, my husband may, but he does not recall - we have SARed them, but no reply to date

 

on to the loan

 

1) the amount stated on the loan is the REQUESTED amount, not the AGREED amount... matter of fact, these loans are way above the originally requested amount

I was under the impression that the CA would have to contain the credit limit that the lender has offered, not what we have requested

 

2) assume that these are one and the same, does it mean that they can only enforce the amount on this agreement? as I said, both our loans are for significantly more

 

3) the agreement is for a LINE OF CREDIT, but both these loans have taken the option to be switched into fixed term loans, which was one of the features of this loan... there is no document from them that states limit of this agreement, duration or APR

 

In other words, the loan that we have with them is a VERY DIFFERENT animal to the one in the credit agreement... I thought that separate types of credit required separate agreements?

 

Thanks!!

[tinsie1970]

subbing

 

any thoughts on the issue of two agreements into one?

 

this flexiloan is the combination of a line of credit (running credit account) and a fixed term loan, shouldn't these be in two separate agreements?

 

thanks!!