I Never Signed A Loan Agreement

Quigley_2

I hope some one can help me with this. A few years ago I had a loan from Nat West for just under £24,000 under unusual circumstances. My wife had an account with them so we arranged an appointmet to see one of their advisers to consolidate variuos bits and pieces. While we had this meeting we asked for my name to be put on my wifes account. The advisor went through all the details of the loan on their computer and it through back a "question mark" on something but she did not know what. This was a Saturday and she told us tht she could not deal with it untill the Monday. She took little or no details about me and told my wife and I that she would be in touch. I asked if there was anything for me to sign. She said no and said just to leave it to her. By the Wedensday I recieved, through the post, a cheque card with my name on it and before the weekend I recieved a cheque book and the loan in what had now become our joint account.

Everything went smoothly untill about 12 months ago and we tried to ask for help from Nat West as we knew that we were heading for difficulties but they said it was not a problem as we had not missed a payment and they would not discuss anything as we had not defaulted and would not untill we did default. I asked for copies of the agreement. I heared nothing from them for some months until we had a letter come through the post from their solicitors demanding £38,000.
To cut a long story short we had to approach a Debt Mangement Company for help who did virtually nothing and Nat West have ended up putting a Charging order on our Property and will be going to court to set a date to force the sale of our property as they are now demanding a reduced settlement figure of £27,000. We have now employed another Debt Management team to represent us on this matter and they believe that they can stop this.
I would like to know where we stand with this Debt. Do we have to pay the interest on this? Were we "mis-sold" the loan? Without the agreement I do not kown if we had payment protection. I have emailed their Solicitor requesting a coy of the agreement but so far have not had a reply.

Any thoughts on this matter
Thanks in advance........... Quigley

jonesMUFCforever

I don't think you were missold the loan. Did your wife sign anything?

The loan may be unenforceable if there is no legal documentation ie a signed CCA agreement.

Ask them again for this information.

Quigley_2

No neither of us signed anything. When you say it may be unenforceable what would this mean. Would we have to pay back just the original monies the was credited to our account and will this fact help at the "Force of Sale" Court hearing. If it is unenforceable will we be able to get the charging lifted

Quigley_2

The loan was soley in my name

jonesMUFCforever

It could well be.

I would take legal advice though.

duffpaddy

When I saw Martin's PPI article in February of this year, I phoned my bank and asked them to send me a copy of my loan agreement so I could check if I had signed up for PPI as I was quite adamant that I hadn't. I had agreed to a loan under very simimlar circumstances described above so wasn't really sure what to expect. They sent me a photocopy of a document I had never seen before which was concluded with two crudely forged versions of my signature. Amazed that the bank would pull a fast one like that, I went into the bank to more closely examine the document where upon I was told that they had lost the loan agreement and that no copies of it now existed.

I'm currently in the process of 'negoiating' with the bank about where I now stand with this loan. Forgery is a criminal matter and I intend to prosecute my bank if we don't come to some sort of satisfactory arrangement. I'd therefore ask your bank to send you a copy of your loan agreement and see what they send back. Bear in mind that just because no loan agreement exists, does not mean that you are not legally obliged to pay for the loan. See this web page about legal contracts.

http://tutor2u.net/law/notes/contract-elements.html