Does a creditor have to sign an agreement?

[Fred Bassett]

I think the obvious answer to this is "yes", but will an electronic signature do or does somebody representing the creditor have to physically sign the agreement?

 

The reason I ask is this - look at the document below. In this there are signatures from 2 different agreements. One from my own Preference Account dated July 2000 and the other from the copy of an agreement in this thread: http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/239284-capquest.html.

 

Now you have to allow for the fact that one copy is poorer than the other, that there are lines and other markings which slightly obscure the signatures and that they are slanted different ways. Put this aside and you will see that these signatures are identical. This means that the original creditor can't have signed the agreement, rather they printed a signature on it. Is this allowable?

 

Regards.

 

Fred

 

[Guest HeftyHippo]

when you say 'printed', I feel you mean it was done with a printer rather than in printed letters by hand.

 

a signature is valid in any form, rubber stamp, hand printed, joined up writing, machine printed, it can be any shape or size and any personalisation of embellishment. absolutely anything.

 

so yes, if their mark was meant to signify their acceptance of the contents of the document it was placed on, then it is valid.

(see Electronic Law Journals - JILT 2000 (3) - Reed)

I would add a proviso that pinky has disagreed with: if they didn't sign the agreement, and then the agreement ended (eg you defaulted and they terminated), in my view, signing it afterwards is invalid because the agreement has already ended, and you cannot agree to the terms in that instance.

 

I discuss that point here, http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/252489-executed-agreement.html#post2836859 well, tried to discuss it but there wasn't much interest. Obviously, I'm the only one with terminated agreements not signed by the banks

[freethemice]

Unless Sainsburys and capital bank are the same its hard to understand how they could share the same 'company signature'. It might be worthwhile questioning this but if it came to court the judge would be more interested in the rest of the agreement than the creditors signature and if the prescribe terms are in the agreement then s127 does allow them to enforce this.

[postggj]

excuse my igmorence but what the hell has capital bank got to do with sainsburys

 

capital bank i believe is part of the ge capital group, the likes of dixons, currys use

 

sainsburys bank use hbos

[Fred Bassett]

excuse my igmorence but what the hell has capital bank got to do with sainsburys

 

capital bank i believe is part of the ge capital group, the likes of dixons, currys use

 

sainsburys bank use hbos

 

I think HBOS took over Capital Bank. Certainly, HBOS now own all of the preference accounts.

[postggj]

That Explains That One But Did They Take Over Prior To Those Agreements

[Pinky69]

I didn't disagree with your view on signing an agreement after it is terminated. I did I say the creditor's signature wasn't necessary for enforcement - and it isn't.

Edited March 25, 2010 by Pinky69

[postggj]

Fred

 

What Ime Getting At Is

 

If Ge Capital Took Over These Accounts After You Signed

 

They Cant Be The Ones Hbos Are Using

[Fred Bassett]

Fred

 

What Ime Getting At Is

 

If Ge Capital Took Over These Accounts After You Signed

 

They Cant Be The Ones Hbos Are Using

 

Good point. I think they were all either Capital Bank at the time though. You know how these things work - somebody underpins Sainsbury or Tesco or whoever it is you think you're getting the loan from.

 

Regards.

 

Fred

[fuzzybobble]

 

I discuss that point here, http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/252489-executed-agreement.html#post2836859 well, tried to discuss it but there wasn't much interest. Obviously, I'm the only one with terminated agreements not signed by the banks

 

I have a Halifax C Card that has been terminated and there is no signature from them whatsoever on the agreement.

 

However there are other things that render it unenforceable, and just to make sure, their Default Notice has more holes in it than a sieve.

[palomino]

Capital Bank has always been a part of Bank of Scotland. If it ever had anything to do with GE Capital then it was a very long time ago.

 

These preference accounts are very confusing. There seem to be several versions of them as well. In my wife's case it appeared to be a loan account coupled with a current account (for which a cheque book was issued).