Consumer Credit Agreements

[rk2005red]

I have just received a copy of my consumer credit agreement from Great Universal Stores. It is dated 15/11/05.
I opened the account in 1990. Should i have received & signed a credit agreement when i opened this catalogue account back in 1990.
is the remaining debt enforcable considering i have not got a copy of a credit agreement when i first opend the account back in 1990.

[Stu Dent]

If the credit agreement is a regulated agreement under the terms of the Consumer Credit Act 1974 then, from what you say, it appears that the credit agreement has been 'improperly executed'. An improperly executed credit agreement is unenforceable. And yes, you should also have received a copy of the agreement back in 1990.

What that means in practice is:

Not only are you entitled to the goods. You are also entitled to receive any other costs - e.g. past payments, interest, any default charges, etc etc etc.

Wilson v. First County Trust

Went all the way from the County Court all the way up to the House of Lords.

http://www.publications.parliament.uk/pa/ld200 203/ldjudgmt/jd030710/will-1.htm