loan contract not signed...

elnino_4

Hi, i hope someone can help...i have a loan with the halifax, unsecured, taken out about 5 years ago, recently i missed some payments to which i was told there would be charges added, i disputed this, as i was never told about the charges, they explained it was in my contract that i signed with the terms and conditions. I told them i never signed a contract as it was done on the phone and the person never explained the terms or anything else..they didn't believe me, so after 6 months of going into the branch and writing letters they have finally sent me a copy of the contract..it has not been signed...by me or anyone, theres just a blank space where it should be signed. I've phoned them asking to take the charges off due to being miss sold this loan but they say i still have to pay and now theres extra charges and interest...where do i stand legally??. and what should i do??...thanks for any advice.D.

melorablack

So you took out the loan on the phone (hey i'm a poet lol)?

The docuements should have been posted to you by courier or you should have gone into branch to sign them. If you didn't do this they should never have issued the funds. If they did then morally you should still pay the loan back because you did borrow the money didn't you? Legally is another matter...maybe someone with more experience can help with that bit.....?

elnino_4

Thanks...can anyone help with where i stand legally..thanks again.

Cumbrian_Male

You need to request a copy of your legally executed agreement by paying a £1 statutory fee. Pay by postal order and any letter you send only print your name on do not sign anything as signatures can be scanned and pasted onto documents. If no signed agreement exists then they can't take you to court for the money.

Find out where you stand first then decide what to do after.

Someone will come along with a template letter for you, from memory it is under s77 of the consumer credit act 1974 as amended.

CHR15

You must be extremely naive to think you can take out a loan, not bother to make repayments, but not incur any type of penalty.

That said, you do seem to be on firm ground if there is no paperwork supporting your loan.

Good luck in your quest, but you should really try to be more savvy where your finances are concerned, you may scrape out of this one, maybe no others.

elnino_4

Thanks for the replies...although i didn't "not bother" to make repayments, i had money problems due to personnel reasons, i did assume i'd get charged but not as much as what i did, when i questioned the amount, i was told it was in my contract i signed, thats when i started to question it, as i didn't sign a contract. I'am still making my payments and asked them to take off the charges as i'd never signed or agreed to a contract. I now have a copy of "said" contract and it hasn't been signed by me or anyone for that matter. I've spoke to the lender and they tell me it doesn't matter that i haven't signed the contract i still have to pay the charges. I don't know what to do next........thanks again.

elnino_4

Just wondering if anyone knows where i stand legally.....thanks.

gnaril

i dont work in loans and only have limited knowledge from taking out my own halifax loans around same time as yourself.

You cannot get a loan done simply over the phone and money in your account. you receive terms and conditions for you to complete(sign) and return or u can go into branch with them and they fax it over and u get your cash.

As for the whole i got my terms and conditions sent to me and didnt have my signature on it, again i dont deal with the whole " i want to get out of my debt ill jump on the bandwagon that no one is winning and give it a go unenforcable credit agreement" a friend of mine is dealing with this side of things and ye it is common practice to send out a copy of historic terms, minus a signature. dont ask me why i prefer to stay clear of that nonsense.

Thats one of the reasons people think they can use the loophole oh you havent given me MY signed copy of my t+c's this is unenforcable i aint going to pay.

as for the charges you get i for one agree they are far far too much for time/cost involved, they are detailed in your conditions which you would have signed. Im personally not sure if you can reclaim the loan charges i assume they are priced like the old credit card ones which were at £25 a go.

Worth putting in a letter of complaint asking for them to be looked at further explaining the circumstances and see what you get.

Anyways good luck with your claim/charges banks really dont do nothing for anyone once your not in a position to pay and make the whole thing snowball even worse.:(

Cumbrian_Male

elnino wrote: »

Just wondering if anyone knows where i stand legally.....thanks.

Take this question over to Debt Free Wannabe board. See this thread and particularly this post.

If no agreement exists then the can't enforce the loan, you can also require all payments made be returned.

Once you are sure there isn't an agreement you can just ignore them.

elnino_4

Thanks for the helpful advice, although you always get someone who thinks they know it all and are quick to point this out, without knowing the facts....
"You cannot get a loan done simply over the phone and money in your account. you receive terms and conditions for you to complete(sign) and return or u can go into branch with them and they fax it over and u get your cash."
...also...
" again i dont deal with the whole " i want to get out of my debt ill jump on the bandwagon that no one is winning and give it a go unenforcable credit agreement"...
1...As FOR THE WHOLE...you can't....well i did,,,and they have now admitted their mistake, and offered me a new contract minus all default charges...
2..I never said i wanted to get out of my debt, i have continued paying the monthly's just refused to pay the charges.....TRY reading!!...
..why do people spend their time disagreeing and moaning about other people while not really offering any good advice........I thought thats what marriage was for.........If you can't help [with fact]...or haven't got anything useful to offer, keep your opinions to yourself...because you just making yourself look like an a*se!!!.......everybody else thanks.

[Deleted User]

Just to point out that legally, all that's required is 'consent' to the agreement; although usually that takes the form of a signature on a contract, it's highly likely to be argued that given you've been making monthly repayments and haven't questioned it for FOUR YEARS (?!) that suggests you agreed to the loan.

Signatures aren't the be-all and end-all...