Lost loan agreement

BNM_2

I have a loan that was taken out in August/Sept 2007. After approaching the bank's head office by phone for a copy of the original agreement, I was informed that the branch had never sent any documentation to them and to contact the branch. I then contacted the branch who said they would get a copy for me and 'would I come into the branch for a credit review'. I contacted the branch again who informed me that no documents are held at branch level and that Head Office had been faxed and I should hear from them by the end of the week. I have not received anything as of yet from them and called back twice to the branch and they said they would fax off again.
I have since decided to write to the loans dept (recorded delivery) requesting a copy of the original agreement still heard nothing back.

Is there a period of time they should respond to this, or have supplied this information??

Also can anyone give me any advice on what to do next if they have lost the agreement (which I seriously suspect) bearing in mind that the loan started post April 2007.

All my banking is conducted online so I has access to the outstanding balance information in that way. There have been no defaults on the loan or anything other.

Any information appreciated.

Krasnoludek

Hi thre

I recently applied for refund of PPI with 2 loans from Halifax one was for 20k and the other was about 2k. Both were settled. I wrote to Halifax using the standard letter end of December, got a reply within 7 days to say we are looking into it and have got 2 letters back saying they do not admit fault but will refund all PPI with 8% interest.

I did not have the paperwork for the loans so signed up for a free credit check to check the dates and amounts which I put on the letters, the account numbers werent on the credit report just the last four digits, the rest of the number was ****. I copied and pasted that into each letter and no one questioned it. I might add that I have reclaimed two lots of credit card charges from Barclaycard & Bank of Scotland this way too and they have already issued refunds, so if you can save yourself £10 per letter it might be worth it, chances are they will reply with the account number anyway on your letter back

K xxx

petermb_2

BNM wrote: »

I have a loan that was taken out in August/Sept 2007. After approaching the bank's head office by phone for a copy of the original agreement, I was informed that the branch had never sent any documentation to them and to contact the branch. I then contacted the branch who said they would get a copy for me and 'would I come into the branch for a credit review'. I contacted the branch again who informed me that no documents are held at branch level and that Head Office had been faxed and I should hear from them by the end of the week. I have not received anything as of yet from them and called back twice to the branch and they said they would fax off again.
I have since decided to write to the loans dept (recorded delivery) requesting a copy of the original agreement still heard nothing back.




Also can anyone give me any advice on what to do next if they have lost the agreement (which I seriously suspect) bearing in mind that the loan started post April 2007.

All my banking is conducted online so I has access to the outstanding balance information in that way. There have been no defaults on the loan or anything other.

Any information appreciated.

Write to the lender quoting section 77 of the Consumer Credit Act 1974. Include a cheque or postal order fo £1. The lender has 12 days to respond. Should they fail to provide you with a copy of the agreement within the prescribed time, then the loan becomes unenforceable until such time as they have complied with your request.

Should the lender fail to comply for 30 days they will infact be commiting an offence under the Consumer Credit Act.

BNM_2

Thanks for your reply will do what you suggest and see waht comes back.
Col

hardy11

Krasnoludek wrote: »

Hi thre

I recently applied for refund of PPI with 2 loans from Halifax one was for 20k and the other was about 2k. Both were settled. I wrote to Halifax using the standard letter end of December, got a reply within 7 days to say we are looking into it and have got 2 letters back saying they do not admit fault but will refund all PPI with 8% interest.

I did not have the paperwork for the loans so signed up for a free credit check to check the dates and amounts which I put on the letters, the account numbers werent on the credit report just the last four digits, the rest of the number was ****. I copied and pasted that into each letter and no one questioned it. I might add that I have reclaimed two lots of credit card charges from Barclaycard & Bank of Scotland this way too and they have already issued refunds, so if you can save yourself £10 per letter it might be worth it, chances are they will reply with the account number anyway on your letter back

K xxx

Hi there,

Could you please advise where I can find the standard letter that you used

Kind Regards
H

petermb_2

Here is the template I use: [FONT=&quot] [/FONT]
[FONT=&quot]Dear Sir/Madam,[/FONT]
[FONT=&quot]
[/FONT]
[FONT=&quot]Reference Agreement Number
[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Section 77 of the Consumer Credit Act 1974 provides me/us with access rights to a copy of the above agreement and all other documents referred to within the agreement. I/We would be grateful if you would forward the relevant documentation relating to my/our account that falls within the terms of the Act.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]My understanding is that under the above legislation, you have a duty to provide me with a copy of the agreement, as signed by both parties and other documents. You have 12 days from the date of this request to provide the document.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Failure to comply with this request within the prescribed time frame will render the agreement unenforceable until such time as the request has been satisfied.
[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]I/we understand that a fee of £1 is payable under this arrangement. I therefore enclose a Cheque/Postal Order for £1.
[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Yours sincerely,[/FONT]
[FONT=&quot] [/FONT]

BNM_2

I have received a reply from Lloyds TSB Saying.
"I am sorry but we are unable to provide you with your loan agreement documents as they were never forwarded to us from the branch the loan was taken out; however we can provide you with the information you require."

This was just a list of :-
Date of loan
Original loan amount
Original term of loan
Monthly payment
APR Rate
Current Balence of the loan
Months Remaining
Total charge of credit
Insurence premium--N/A

They also sent a covring letter saying:

"Inside this letter you will find a copy of the agreement form you signed at the time you opened the loan (signed on behalf of Lloyds TSB) (which is basically just a copy of the last statement for a previous twelve month period. which it looks like they have just scibbled on, my signiture is nowhere to be seen on this make shift photocopy.) They go on, these details provide the details of your loan under the Act.

Please can you advise on what I can do from here.

petermb_2

petermb wrote: »

Write to the lender quoting section 77 of the Consumer Credit Act 1974. Include a cheque or postal order fo £1. The lender has 12 days to respond. Should they fail to provide you with a copy of the agreement within the prescribed time, then the loan becomes unenforceable until such time as they have complied with your request.

Should the lender fail to comply for 30 days they will infact be commiting an offence under the Consumer Credit Act.

Correction to this. I have recently learned that the lenders have recently claimed another little victory by getting the law changed so that they are no longer committing an offence by not providing a copy of the agreement. It just shows how busy they are in the background trying to cover their tracks.

BNM_2

Oh really does that mean I'm stuck with the loan?

petermb_2

BNM wrote: »

Oh really does that mean I'm stuck with the loan?

does it heck. It just means that the lenders have won a little battle but not the war.
No Agreement....means the loan cannot be enforced by the lender or a debt collections agency. They can yell and scream and bluff and bully but they have no legal leg to stand on.

BNM_2

Thanks for your help on this is this still the case even though I took the loan out in Sept 2007, and what do you suggest I do next please???