Got a capitalone card as 'organisation of last resort' and was initially given £1000 limit, signed the CCA paperwork and job was done.
Over the course of several years they gradually increased my limit to £4200, but I never signed any new credit agreement at each limit rise - I did get a letter telling me I was getting a higher limit and some wording along the lines of 'Use of higher limit signifies your acceptance'.
Now several months ago things started to take a financial swing for the worse with new start business still not paying a wage and several other worrisome expenses, and with one thing and another there was no money left to pay them with. So I fobbed them off for a bit then just stopped answering their 5 times a day calls.
So now they are after me for payments , largely now via some company called Frederic Ericsson or something...
Whilst dodging one of there many and frequent (usually silent) phone calls a mate who was round for coffee said something that intrigued me.
He said he had read somewhere that if you didn't sign a CCA for the sum outstanding then they couldn't pursue you for it. The amount you signed the CCA for (in my case i believe £1000) is all they can get you on.
Does anyone have any knowledge of this?
Yes I know I spent the money before some wise-acre pops that one in, but things are rock-bottom, money-wise, and when ur shoulder high in crap and ur water-wings are flat you gotta grab anything floating by...
Over the course of several years they gradually increased my limit to £4200, but I never signed any new credit agreement at each limit rise - I did get a letter telling me I was getting a higher limit and some wording along the lines of 'Use of higher limit signifies your acceptance'.
Now several months ago things started to take a financial swing for the worse with new start business still not paying a wage and several other worrisome expenses, and with one thing and another there was no money left to pay them with. So I fobbed them off for a bit then just stopped answering their 5 times a day calls.
So now they are after me for payments , largely now via some company called Frederic Ericsson or something...
Whilst dodging one of there many and frequent (usually silent) phone calls a mate who was round for coffee said something that intrigued me.
He said he had read somewhere that if you didn't sign a CCA for the sum outstanding then they couldn't pursue you for it. The amount you signed the CCA for (in my case i believe £1000) is all they can get you on.
Does anyone have any knowledge of this?
Yes I know I spent the money before some wise-acre pops that one in, but things are rock-bottom, money-wise, and when ur shoulder high in crap and ur water-wings are flat you gotta grab anything floating by...