HSBC loan online - nothing signed????

bigjim2008

Hi everyone,

Been reading the forums for a while and have noticed I may be in the same position as a few others here -

I applied for a loan from HSBC using their online banking and needed to ring them for authorization. I rang them and they asked me the usual questions (what the loan is for etc). I needed the money to consolidate 2 loans and leave me with enough extra to get a car for work else id lose my job. HSBC agreed and allowed me to carry on the net steps online.

I agreed to the contract all online, and received the funds immediately into my bank.

But - the only signature or acceptance they received from me was in form of a 'check box' on the webpage, no physical signature was taken or asked from me and I have never had any documents through the post about it, nothing.

Where do I stand on this?? If I write to them and ask for a CCA they will not be able to provide a signed copy by me, would this mean the loan is default?

Any help would be appreciated.

Rafter

The law changed back in 2004 I think to allow 'electronic' signatures by way of a tick box. HSBC will probably have a recording of your phone conversation too.

You should have received paperwork though confirming the loan terms - although this could have been e-mailed too?

HSBC should be able to provide you with a copy. It will just say 'electronic signature provided' or something and just because you didn't sign does not mean that the loan is valid.

R.

bigjim2008

Ah right -

I have never received anything, post or email.
I thought the agreement had to be physically signed by myself, and expected to receive documents to sign and send back, as surely anyone could of done this if they knew my details??

Jim

_Andy_

So basically you don't fancy paying the debt back and you're looking for a way out of it?

bigstevex

there are terms and conditions that you accept by ticking the box saying that its all legal etc

petermb_2

I would request a copy of the agreement under section 77 of the Consumer Credit Act 1974. Enclose a cheque or postal order for £1.
The lender has an obligation to send you a copy of the agreement.