Invalid Loan Agreement beneficial finance / HFC

noely2008

Hi All I hope someone may be able to help.

Between the years 2002 and 2003 I took out 3 seperate loans with HFC / Household bank. I requested the loan agreements as I beleive I was mis-sold the Life and ASU insurances on all 3 loans. I have received the copies of the loan agreements now. The first one took out in March 2002 has no signatures from either myself or HFC Bank on the loan agreement. The two subsequent re-finances do have signatures on. The last refinance was done in December 2003 for £15,000 over 7 years. They added £3,470 for insurance at 13.5% APR. This was cleared in full in April 2007 from a Smile (Co-op) loan I took out to clear the remaining balance.

My questions are :

Have I got any case claiming the first loan was unenforcable due to having no signatures on the agreement as it has since been paid off on the second refinance in 2003 with tthe same company. If so, would I need to go through one of those solicitors that charge you upfront or could I do it myself ?

On each loan i took out they said that I had to take the insurance out to get the credit,, can I put a claim in for all 3 loan agreements ? If so do i send 3 seperate letters.

I hope someone can help. I am pretty clued up on financial things now but need a point in the right direction now.

Many thanks

melorablack

Your copy of the agreement for your first loan is probably a customer copy -so there rarely are signatures on these.

If you want to reclaim you PPI send 1 letter but make sure you quote the 3 loan numbers and ensure it is clear it is 3 of them that you want investigating.

simon_templar_2

Loans from HFC with ppi in many cases were mis-sold. They used to get the manager to go into the interview with the customer if the CAM did not get them to take ppi. I know of situations where the manager would tell the customer if you dont take ppi you cant have the loan. One reason they used to give was as well as protecting the customer the ppi was protecting the company lending the money out.