Hfc Loan Agreement !!!!!!

petermb_2

I was not referring to unenforceability.
I was refferring to voidability. A different animal and a different issue altogether.
So may people have got hooked up on this unenforceable thing....Even the claims vultures and yet voidability is equally more powerful and far more robust.

petermb_2

~Brock~ wrote: »

Client borrows money. Client pays back money. At what stage is it ever the client's money?

You are being as covert as you typically are about this subject - just enough to intrigue the OP enough to make contact?

Most people - and I include court judges in that - would regard the unenforceability of a loan that has been settled (based on the lack of an agreement) as a pretty meaningless matter, bearing in mind there is nothing left to enforce.

I again have to disagree but if non-disclosure has taken place then the money paid to the broker belongs to the client from the second it was paid and is incurring interest from that moment.

~Brock~

petermb wrote: »

I again have to disagree but if non-disclosure has taken place then the money paid to the broker belongs to the client from the second it was paid and is incurring interest from that moment.

I appreciate where you are coming from Peter, but as far as I am aware, loans taken with HFC tend to have been arranged directly with the customer in one of their branches - i.e. no broker involved. That was something I factored into my replies.

The initially introduction to the company was typically via a sales finance contract through the likes of Curry's or PC World.

Perhaps the OP can confirm?

petermb_2

~Brock~ wrote: »

I appreciate where you are coming from Peter, but as far as I am aware, loans taken with HFC tend to have been arranged directly with the customer in one of their branches - i.e. no broker involved. That was something I factored into my replies.

The initially introduction to the company was typically via a sales finance contract through the likes of Curry's or PC World.

Perhaps the OP can confirm?

LOL and I factored that information into my replies too.

So Curry's or PC World do not have to hold a Consumer Credit Licence which allows them to act as a "Credit Broker" then? And those companies would introduce their client out of the goodness of their heart? Or do you think they may have received some commission?

There are still issues that can be challenged on this type of loan the way it was set up.

~Brock~

petermb wrote: »

LOL and I factored that information into my replies too.

So Curry's or PC World do not have to hold a Consumer Credit Licence which allows them to act as a "Credit Broker" then? And those companies would introduce their client out of the goodness of their heart? Or do you think they may have received some commission?

There are still issues that can be challenged on this type of loan the way it was set up.

The days of commission payments alongside retail contracts ended many years ago. In fact, in the case of interest free agreements, it is often the case of the retailer paying a commisison to the lender, not the other way around!

The incentive to the retailer is often simply to shift their goods.

petermb_2

~Brock~ wrote: »

The days of commission payments alongside retail contracts ended many years ago. In fact, in the case of interest free agreements, it is often the case of the retailer paying a commisison to the lender, not the other way around!

The incentive to the retailer is often simply to shift their goods.

There will still be an issue or two to challenge the lender.