Suspect I have no loan agrrement

[un1boy]

Cheers for all the help & advise guys, will definitely not be going into the branch!!!

 

Good!!

[Acerfan]

Actually, now I think about it when I opened my account, they had to go down the road to a different bank to borrow their photocopier!!!

[katewoodstock]

Hi, I was sold a HSBC managed loan about 8 years ago. I was very badly informed and I believe Mis sold the loan as I am still paying it back with hideous interest!! I have totally repayed the original amount and still owe approx £4k. Is there any way I can proove I was mis sold the loan? I too would question they have a signed copy of the agreement - if not would this mean I had a case to get the loan written off? Thanks - 1st post!!

[Acerfan]

Hi katewoodstock & welcome

 

Personally I'd send off a section 77 CCA request to HSBC. Check the agreement when & if you receive it & see what you agreed to. If they don't send you a copy after 12 working days they'll be in default & if they don't send it after 12 working days plus one calendar month they are guilty of a criminal offence summarily punishable with a £2,500 fine and imprisonment. Have a look at the threads Consumer Credit Act Agreements and Loan Company Cannot Supply The Original Agreement to get a better idea of how to proceed with this.

 

I'm looking to do the same with a Managed Loan I have with HSBC too. I don't know if you've also seen the thread Who has had Managed Loans?

Unfortunately, there doesn't seem to be a straightforward answer to this question at the moment except the CCA route which MIGHT make the debt unenforceable.

Was any of the loan made up of unlawful charges? If any or all of it was, you may have other options if they do come up with the agreement. I know Tigs33 managed to get back the interest paid on the managed loan because it was solely made up of charges.

 

Good luck

 

Acerfan

[Acerfan]

Right, have adapted this letter from one I sent to another company who didn't comply. Am not sure though whether I should mention the last letter I received that stated I could collect from the branch. I'm really not sure whether they actually have it (surely they would have posted it if they did) or whether they're stalling for time or if the person I've been corresponding with is trying to pass the buck. Can someone have a look at the letter and tell me what you think?

 

All help and advice gratefully received

 

20th January 2007

 

Dear XXXXX

 

Account Number: XXXXX

 

I am most disappointed with your failure to comply with my Statutory Request to you under Section 77 of the Consumer Credit Act 1974 on 27th October 2006.

 

The Consumer Credit Act allows 12 working days for this request to be carried out before your company enter into a default situation. If the request is not satisfied after a further calendar month, your company commits an offence. These time limits expired on 20th November 2006 and 20th December 2006 respectively. As I’m sure you are aware, failure to comply with this request is punishable on summary conviction with imprisonment or a fine not exceeding level 4 on the standard scale, or both.

 

On X th December 2006, I received a Pre-Contract Information form from XXXXX. I do not consider such a form to comply with the requirements of my request.

 

As you have been unable to provide me with a copy of an agreement which complies in every respect with Section 61 of the Consumer Credit Act 1974, I do not acknowledge any debt to XXXXX and do not consider that I have any obligation to make payments to you.

 

Any default notices or adverse comments your company have recorded on my credit reference file should be immediately removed.

 

Additionally any monies I may have paid to your company should be returned to me forthwith.

 

Failure to respond favourably to this letter within seven (7) days of receipt will result in immediate litigation being commenced against your company without further notice. Additionally, complaints will be registered against you with Trading Standards and the Office of Fair Trading.

 

Furthermore, you telephoned me on 13th January 2007 seeking to discuss the matter with me. I need not remind you that further attempts to discuss the matter with me or to seek payment from myself in this manner would be an act of criminal harassment under the Protection from Harassment Act 1997 s 1. A person guilty of an offence under this section is liable on summary conviction to imprisonment for a term not exceeding six months, or a fine not exceeding level 5 on the standard scale, or both. I will not enter into any telephone discussions on this matter.

 

I await your rapid response.

 

Yours faithfully

[Fullyskinted]

You could just say that your work commitments dont allow you to go to the branch....

 

Hefty letter tho!

[un1boy]

Great letter Acerfan!!

[Acerfan]

Thanks for the advice fullyskinted & for the confidence boost un1boy. Will adjust the letter as suggested. Am also going to write to TS and the OFT and am planning on writing to my MP. Does anyone have any template letters please?

[un1boy]

To complain to TS, click here they will call you and then send you out the documentation to fill in and send back

[Acerfan]

Hi un1boy, sorry, the link's not there

[un1boy]

Oh sorry acerfan - here it is:

 

http://www.consumerdirect.gov.uk/complaints.shtml

[Acerfan]

Thanks un1boy

[maybelline]

hello Peter, interesting question, looking at the CCA I have been querying on the other thread I notice a small box in the corner that says 'Under the Consumer Credit Act 1974 the lender should have given you a copy of this Agreement at least seven days ago to allow you time to consider whether to go ahead. If he did not, the Agreement cannot beenforced without a court order.' (needless to say this did not happen,but how to prove this) sorry not hijacking just think it is similar query.

[Peterbard]

Hi M

When did you take out the agrement and did you sign at the traders/creditors premises?

 

Peter

[maybelline]

signed at premises.

 

sorry, other part of question answer is started 1999, then 'resheduled' or 'consolidated' or whatever it is, latest five years ago.

 

M

[maybelline]

Hi M

When did you take out the agrement and did you sign at the traders/creditors premises?

 

Peter

 

Hi Peter, does the signing at premises invalidate the seven days then, I think this has already been mentioned on this thread?

[un1boy]

As far as I am aware Maybelline, yes it does! :-/

[maybelline]

personally, that seems unfair, whats the difference, being on the premises is actually more pressure, but then none of this makes sense!?

[Peterbard]

If this is regulated by the cca (Whichit will be if under £25000)then under section 67 there is no obligatrion to give precontractual information or cancellation provision after the agrement is executed.

Sorry

Peter

[Peterbard]

Don't shoot the messenger:eek:

 

Peter

[Fullyskinted]

Its the same with mobile phone contracts (well, it was in my experience). If I ordered it on the net I got the 14 day 'make y amind up' time. If I went to the shop and bought one, I didnt.

[un1boy]

Yes Fullyskinted, but mobile phone companies reckon they aren't covered by the CCA anyway!!

[Pen]

Hi, sorry but have only just started reading these posts and I am at a loss to understand them. Did you get the loan or not? did you get the loan in good faith spend it and because you did not sign a agreement for it you are not going to honour it?

Sorry not read all the posts as there are to many just the first dozen ang got confussed on whether or not you got the loan. I will read the rest as soon as I can.

pen

[Fullyskinted]

Yes Fullyskinted, but mobile phone companies reckon they aren't covered by the CCA anyway!!

 

LOL, I was just trying to give Pete some backup - re the 'dont kill the messenger' post! :D:D (and to show that its not uncomon for that kinda thing to go on..)

[Peterbard]

LOL, I was just trying to give Pete some backup - re the 'dont kill the messenger' post! :grin::grin::grin: (and to show that its not uncomon for that kinda thing to go on..)

 

Thanks Mate I can do with all the help i can get.

You are correct of course mobilee phones arn't covered by the cca as you are paying for a service not for hire.They come under the distance selling legislation although I know what you mean.

My opinion on Section 67 is. Sometimes you don't wnt to wait for your credit application to be executed,if you by a car and want to drive it away the dealer is hardley likely to let you of the fourcourt if you can cancell yoou agreement as soon as you get around the corner.Also i think maybee the historical aspect of the delay in the postal service where a contract cancellation might take a week to get back to the creditor by which time if there was no cooling off period the contract would be in force.Just a thought.

 

Best Regards

 

Petr

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