Agreement lost

DODGEYDODGE

Hello , i have an interesting problem , was not sure how long was left on my bank loan so i asked the bank for my agreement , they have lost it and tell me i owe £13000 over the next 3 years , after searching the forum i find that if they cannot provide the agreement then the loan is unenforcable is this right and what actions can i follow thanks

Robert_Sterling_3

Donate the money to Cancer Research.

Neillgb

DODGEYDODGE wrote: »

Hello , i have an interesting problem , was not sure how long was left on my bank loan so i asked the bank for my agreement , they have lost it and tell me i owe £13000 over the next 3 years , after searching the forum i find that if they cannot provide the agreement then the loan is unenforcable is this right and what actions can i follow thanks

As a matter of interest, no pun intended, which bank was this??

McKneff

Dont you have a copy of your agreement.

Actions - you borrowed it, you know you owe it, then pay it.

~Brock~

Why did you ask for a copy of the agreement when you could have just asked them the question about the term? Sounds like you were fishing and got the catch you were hoping for.

Don't expect too much support for worming out of your commitments from this forum - many posters here understand the relationship between customers who don't pay and the overall cost of credit to the rest of us.

Also, consider whether you may ever want to borrow money again in the forseeable future, because you will effectively trash your credit rating for the next 6 years at least.

Remember - 'unenforceable' doesn't mean that the debt does not exist, nor does it mean that you are not obliged to pay it.

petermb_2

DODGEYDODGE wrote: »

Hello , i have an interesting problem , was not sure how long was left on my bank loan so i asked the bank for my agreement , they have lost it and tell me i owe £13000 over the next 3 years , after searching the forum i find that if they cannot provide the agreement then the loan is unenforcable is this right and what actions can i follow thanks

Right! Now you have gotten through the replies that are expected with such a post by the same old handles.

Let us discuss the issue at hand. You are quite right that if the lender cannot provide you with a copy of the agreement then the loan becomes unenforceable until the document can be provided.

I have a template letter available that you can send officially requesting the document and advising the lender of their plight. PM me for the information.

Rafter

DODGEYDODGE,

That is quite a large sum? Is it some type of secured loan? In which case there may be a copy of the loan agreement attrached to the deeds on your property. I'd be careful how you proceed - as others have warned, you don't want to potentially lose your ability to get credit for 6 years or have your house sold from underneath you.

Suggest you see a solicitor before taking matters into your own hands.

R.

petermb_2

Rafter wrote: »

DODGEYDODGE,

That is quite a large sum? Is it some type of secured loan? In which case there may be a copy of the loan agreement attrached to the deeds on your property. I'd be careful how you proceed - as others have warned, you don't want to potentially lose your ability to get credit for 6 years or have your house sold from underneath you.

Suggest you see a solicitor before taking matters into your own hands.

R.

That would be my advice too.

Robert_Sterling_3

Right! Now you have gotten through the reply that is expected with such a post by the same old handle, petermb, that helps you to get money you are not morally entitled to go ahead and get the illgotten gains and then donate them to cancer research.

As has been suggested you may pay a price for the folly.

Robert_Sterling_3

Dodgy Dodges"R"Us

DODGEYDODGE wrote: »

What does it mean when they put my account in default i owe £1600 in overdraft and i have a loan with them but i cannot find the paperwork , even worse is the bank has lost the paperwork , can they enforce the loan if they cannot prove how much i owe

Banks ... Always losing their paperwork.

petermb_2

Robert_Sterling wrote: »

Right! Now you have gotten through the reply that ais expected with such a post by the same old handle, petermb, that help you to get money you are not morally entitled to go ahead and get the illgotten gains and then donate them to cancer research.

Sorry? where do morals come into this? Do the lenders think of morals when they throw families out on to the street? No they dont, they simply quote the law of the land.
Well these issues are also law of the land. The very same law. You just cannot have it both ways boys. It may not be very pallatable to you guys but it is the law of land.

If you complain at the relatively few people claiming on unenforceable agreements and the like why do you seem to defend or dumb down one of the biggest frauds and cons of all time, which is single premium PPI?