I have un-enforceable loan - but company say they will default me, if I stop paying?

lclclclc

Thx fermi, it will all help... they currently have a 3 page document heading their way tomorrow morning, with lots of reasons why they are in dispute with me now.

Hippocampus

The ICO has told me that although unenforcable, any agreement that shows there was a relationship between lender and creditor will be sufficient to prove that there WAS an agreement. Likewise, if all they have are statements to show that relationship, then the ICO will deem that the default is not innacurate.

What WILL be sufficient to cast doubt on the accuracy, is if any of the amount allegedly defaulted consisted of charges that are currently a matter of dispute. But you need to show that those chatges have already been in dispute, so get a complaint in to the OC about those, or any other daft things that you are contesting.

Doesn't mean that the ICO will agree with you, as they do not adjudicate. But they WILL expect the lender to have followed their own complaints proceedure.

The part I am particularly interested in is this...

If the dispute has not been before a court, is the lender prepared to test their claim by seeking a CCJ or decree against the customer? If not, why not?

But it does mean having to wait some considerable time. In my case, I think that 2 years is long enough for my nemesis to have raised court proceedings, and so I will raise a complaint with the ICO again on that basis. Patience is required here for this approach, which may not suit all circumstances.

fermi

Tell me about it. :rolleyes:

The ICO tell me something different, and then the next person something else.....

I've given up trying to get anything consistent (or even a straight story) from the people whose job it is to give one. :undecided

lclclclc

makes you think before the whole bank charge, PPI reclaim, and unenforceable loan campaigns came about, what these people were doing?! now they are actually being asked to do their job, they appear to un-educated about what they should actually be experts at. Looking forward to sending the letter off tomorrow recorded delivery, highlighting some of the points in my own words, that you guys have made. I am already on CAG as well, but I thought best to get the most rounded opinion of people already involved in similar campaigns. They should be coming back to me about my PPI reclaim in the next couple of weeks as well.

1sue23

I am very old fashioned ,but in my day if you borrowed the money you paid it back ,when you took out the loan was it your intention not to repay the loan ?

enjoyincubus

lclclclc wrote: »

makes you think before the whole bank charge, PPI reclaim, and unenforceable loan campaigns came about, what these people were doing?! now they are actually being asked to do their job, they appear to un-educated about what they should actually be experts at. Looking forward to sending the letter off tomorrow recorded delivery, highlighting some of the points in my own words, that you guys have made. I am already on CAG as well, but I thought best to get the most rounded opinion of people already involved in similar campaigns. They should be coming back to me about my PPI reclaim in the next couple of weeks as well.

Just wanted to point out that the people who receive your letter are probably nothing more than customer service advisors/managers and I doubt will have a detailed knowledge of consumer credit law. However there are people who are paid large amounts of money to know, and the issues you talk about are their problem (and their bosses, who should have been ensuring they were doing their jobs properly).

Campaigns such as PPI, bank charges etc may result in the loss of free banking and more expensive loans. But this may be the right thing as banks have been using unfair practices to subsidise losses elsewhere. The majority of customers have been getting cheap loans/banking because more vulnerable or naive customers have been paying massively over the odds.

Hopefully in 2-3 years time we will have a fairer and more transparent banking system. Well we can hope anyway!

mouncey

withabix wrote: »

Just pay back what you borrowed.

Stop trying to steal from the rest of us.

I sincerely hope that the OP fails in their attempt to avoid paying what they owe and ends up with the worst credit rating possible.

Bit strong accusing someone of stealing. They are just exercising their legal right and I hope they succeed.

Renovatio

It's to$$ers like the OP that are adding to the problems of this country:mad:

If you have borrowed money, you should pay it back. If you are a thieving weasel that reneges on the credit agreement, you should have a 10 year ban on obtaining credit.

Obtaining credit is a privilege NOT a right!

lclclclc

1sue23 wrote: »

I am very old fashioned ,but in my day if you borrowed the money you paid it back ,when you took out the loan was it your intention not to repay the loan ?

of course it was?! but now like I have said, if you read through my posts, I feel compelled to take this course of action. Its the banks error, and they should be held accountable..

lclclclc

Renovatio wrote: »

It's to$$ers like the OP that are adding to the problems of this country:mad:

If you have borrowed money, you should pay it back. If you are a thieving weasel that reneges on the credit agreement, you should have a 10 year ban on obtaining credit.

Obtaining credit is a privilege NOT a right!

thank you for giving me even more motivation... I'm even more determined to succeed, because I know i am in the right.. and I can be proved so, and stuff your rhetoric, where the sun doesn't shine..