Signed Mint
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Does MINT have an enforceable credit agreement with you?
A recent lower county court decision has reinforced what was already the law by confirming that if a card company cannot produce an original agreement signed by both parties, incorporating all the prescribed terms, them it cannot be enforced.
A mother of three was successful in arguing that as MBNA could not produce her agreement confirming all the terms between them as required by the Consumer Credit Act 1974, then when they sued her, they had no right to collect the debt. That is already established law and we regularly get copy agreements for our clients which confirm that, the credit agreement is unenforceable.
In the case mentioned above, the court went even further. It investigated the way PPI was claimed here. MBNA had taken £20 to £30 per month for PPI cover, but when the claimant tried to claim on it she was denied. Further, MBNA had failed to tell the claimant that they had a direct interest in her taking this insurance, as they earned a very sizeable commission from each payment.
The court said that that the secret profit earned by MBNA meant that the agreement was unfair. As a result he expunged the agreement completely and ordered that MBNA pay back the PPI plus interest.
MBNA will not be the only firm that this affects. It may now also affect MINT. We have had agreements passing through our hands which are clearly not enforceable and all these are now in the hands of our solicitors. We will now be looking at all our MINT agreements to see if they also breach the new unfairness test in relation to undisclosed PPI commission.
About the Author
Contact Steve Thatcher of Help With Debt (UK) Limited a total debt solutions company.http://www.helpwithdebtuk.com/page007.html
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