old credit agreements

gtgiggs

hi, im hoping can finally can give me a concrete answer to this, i would like to know if old credit agreements on a loan that has been settled can still be challenged?? on the basis that the monies were paid back in good faith but the agreement was not up to scratch. i hope you get what im saying.

rog2

gtgiggs wrote: »

hi, im hoping can finally can give me a concrete answer to this, i would like to know if old credit agreements on a loan that has been settled can still be challenged?? on the basis that the monies were paid back in good faith but the agreement was not up to scratch. i hope you get what im saying.

On what basis are you saying that the original agreement was flawed, gtg.

gtgiggs

one of my old bank of scotland has the insurance lumped in with the initial loan ammount and not in seperate sections, there is no breakdown of what interst is getting paid to the loan or the insurance, just in one lump number, and there is no right to cancel on the credit agreement,

i have a missing right to cancel on another two credit agreements with bank of scotland, one dated 2007 which was settled and also a 2009 one? i dont know if the 2009 one requires a right to cancel on it or not but i just noticed it whilst checking the rest. im just asking as to there is anything to chase up or not

gtgiggs

i also see the northern rock credit agreement which i onlt have a few payments left on is missing a right to cancel

gtgiggs

sorry, all of the loans are on a unsecured fixed sum loan agreement, northern rock is the same but does not state that on the top of the agreement

RAS

if you have paid out PPi or any loan insurance in the last 6 years, you may be able to reclaim the cost.

Your insurance company need to prove

1, that at the time you took out the insurance you would be eligible for insurance (in one case he was insured but not working b ut she was working but not insured).

2. That you were told that taking the insurance was optional and no-one suggested that getting the loan/card required you to take the insurance.

3. You were told that you could explore the possibility of getting insurance to cover loan elsewhere.

if not you may be able to reclaim the payments you made.