Any Comments from Martin Lewis Re: getting loans written off?

gomer

It's no wonder we are in the grip on an economic crisis when borrowers just don't take any responsibility for money they willingly borrowed & agreed to pay back. Just because an agreement is not enforcable doesn't mean the borrower shouldn't at least pay back however much of the money they spent, credit isn't a free service that is just given away for nothing.

Of course the borrower shares some of the responsibility if they applied for the money on the understanding they were happy to pay it back. If an agreement is not legally sound then at the very least the borrower should pay back whatever percentage of the money they spent, afterall they were going to pay it back of thier own free will anyway before they discovered the agreement wasn't correctly worded.

Credit isn't there for anyone to just take however much money they like without having to take any responsibility whatsoever.

petermb_2

Here we go again. Blaming the borrower or claimant for the financial fiasco that we currently face. It is a rediculous notion that just muddies the water.

What you are clearly stating is that should a borrower who find that under English law the agreement they signed is deemed not to be a binding agreement (unenforceable) they should ignore the legal facts and continue to repay a debt they no longer owe.

stevo1966

Has anyone out there actually had an agreement declared unenforceable???

petermb_2

stevo1966 wrote: »

Has anyone out there actually had an agreement declared unenforceable???

You wont hear too many shouting about it because they will have been forced to sign gagging orders. I know of one court case that finished recently where the judge advised the barrister for the lender not to appeal because a loss in an appeal court would bring down the house of cards.

I dont think that unenforceability is as prevalent as many claims companies will have you believe. You find that the ones that do quote very high percentage of loan failures tend to charge large fees up front.

mukka_charlie

My partner has a 'hire purchase' agreement for a static home, we are looking at renewing the home and therefore would like to take out a further agreement. So we got the original paperwork out to realise that my girlfriends ageement is actually addressed to a Mr not Mrs, we have been paying for 2.5 years and have never realised, does this make it unenforcable? Also when the agreement was made for 'the agreed amount' the salesman actually put the £500 deposit she paid in his pocket and added it on to the hire purchase amount.

At the end of the day she took the debt on and we are half way through paying it, but I would really like to get the £500 back, we have the original paperwork withe figures on it to prove she paid the £500 deposit, does anyone have any ideas if this can be done??

booi666

petermb wrote: »

I think this stuff you are quoting has been tested in court and failed. This is US law, not UK. This all came from a Multi-level Marketing club called Ultimate Entrepreneur that has since failed also.

There are plenty of legitimate heads of claim against lenders without bringing this stuff into the discussion.

Ahhh i totally understand now peter,

Your saying that maritime law only operates in the usa?

Your saying that the bills of exchange act only operates in the usa?

Your saying that the fraud act only operates in the usa?

petermb_2

booi666 wrote: »

Ahhh i totally understand now peter,

Your saying that maritime law only operates in the usa?

Your saying that the bills of exchange act only operates in the usa?

Your saying that the fraud act only operates in the usa?

I am saying that it has been tried in court and it failed.
If it had worked I would advocate it.

AMILLIONDOLLARS

Looks like a chunk of my conversation with Fermi has been deleted!!!:mad: I wonder why????

AMD

Ansu

booi666 wrote: »

Ahhh i totally understand now peter,

Your saying that maritime law only operates in the usa?

Your saying that the bills of exchange act only operates in the usa?

Your saying that the fraud act only operates in the usa?

I don't think he is saying any of that.

But to clarify you point, and clear up some uncertainty, you should explain exactly what you believe is illegal, then provide a statute or England&Wales common law example to display that they are breaking the law.

bookworm1363

petermb wrote: »

You wont hear too many shouting about it because they will have been forced to sign gagging orders. I know of one court case that finished recently where the judge advised the barrister for the lender not to appeal because a loss in an appeal court would bring down the house of cards.

I dont think that unenforceability is as prevalent as many claims companies will have you believe. You find that the ones that do quote very high percentage of loan failures tend to charge large fees up front.

Peter, thanks for a lot of the info you have given, but I think that you'll find there have been plenty of successes on CAG and they most certainly weren't gagged, lol.

I would however strongly advise against paying an ambulance chaser to do it for anyone when there is no need. As Peter says, either it's enforceable or it's not. Educate yourselves, do it yourselves, don't pay anyone any fees, it's madness.