Unenforceable loans????

Goodtimesahead

Its a question of law. not whether the person should pay the money back or not, happens all the time in business, don't get personal about it. If the highway robbers have screwed up with this old credit agreements then good luck to you mate, a very interesting point of law, I believe soon to be test in courts as to whether creitors can enforce these agreements or not.

I have certainly heard from some people in & out of the industry that, many creditors are not bothering to chase old debts that were signed with these agreements. Sometimes they just leave a default notice and leave it at that.

Suspect its a bit like Bank charges case, they know they will eventually lose. A few cases I heard that some lucky ones have even had their credit file wiped clean by the creditor! If its proved unenforceable, they will have to wipe your records clean anyway.

StuTheDon

uktyler wrote: »

Yes we are paying for people that can't pay, and we always have. Now it seems people are going to have to pay just because others don't want to.

You not paying, and your feelings of guilt don't bother me in the least, I don't have a loan, and won't be borrowing any money in the future, so go ahead, refuse to pay it.

After all it is your credit rating that will be affected. Let us know how you get on.

There are two sides to this - the legal and moral side. At the end of the day if you dont agree with the interest terms for your loan that are clearly laid out then dont take the loan - simple.

If you sign, you should pay it back - there's not a money tree with loads of cash out there that the bank shakes and it magically falls out. They are a business with employees, shareholders and are under no obligation to offer free money

teggy77

well this is my thinking too, when bank accounts were opened we all knew that if there were insufficient funds in our accounts we would be charged, and i am pretty sure most people have had bank charges in the past, and most would be quite happy to take THAT money back, would people have a guilty concience about that, im thinking not
now also bearing in mind some people s bank charges could add up to be more than my loan, am i so much in the wrong
we can all see the amount of letters that have been downloaded from this site alone.
This is due to the fact the agreement s are unlawful, now am i wrong in presuming that , again still not sure if it can happen, that a credit agreement can also be unlawful and why should it not be tried out.

I may be thick but who pays for all the bank charges are refunded, where does this money come from because im sure it aint just a few quid.

Now I still have not made a decision about this, again not about morals and stuff, its just handing over my details to someone I dont know and possibly looking like a total pie.

This company have assured me they have been running for over 4 years, have had numerous trial cases overturned, the guy I was dealing with has told me this,

"scan and send me through your original credit agreement, do not send me us any money. Our solicitoirs will look through your agreement, if they feel it cannot be challenged we will contact you and tell you , and you will continue to pay your loan as usual.

If we know you have a case we can do this for you, there is a flat fee of £285 (maybe a lot i dont know!) and no end fees, this is for a audit. Our solicitors will only take on a case when they know they will win as the court fees are payable by the other party, we would never take on a case that would cost us, its not in our benefit to do that, therefore all you pay is £285 and as the agrement was not legally binding your credit status would be cleared. ALSO .. if you have been charged PPI on a loan that you are unaware you have been paying you may also stand to get that back too ......

I have checked out the website which is governed by 2 bodies one being the ministry of juctice (but not sure if that even goed for anything) they have emailed me through all the clauses they would check out, all information about how to got about this and also copies of court cases they have had overturned (Again im no legal eagle so these could be made up!) i know as my mum says if it sounds too good to be true it probably is.

During my last conversation with this guy I did mention I had asked about this stuff on this forum and that If i did decide to try it out I would have made it very public for everyone because It would put other people in a clearer picture, he said that would be a good idea.

Would they be willing to risk their reputation for £285

Now still not convinced .... is it just me !!!!


Again sound s too good to be true !!!!!!!

StuTheDon

teggy77 wrote: »

well this is my thinking too, when bank accounts were opened we all knew that if there were insufficient funds in our accounts we would be charged, and i am pretty sure most people have had bank charges in the past, and most would be quite happy to take THAT money back, would people have a guilty concience about that, im thinking not
now also bearing in mind some people s bank charges could add up to be more than my loan, am i so much in the wrong
we can all see the amount of letters that have been downloaded from this site alone.
This is due to the fact the agreement s are unlawful, now am i wrong in presuming that , again still not sure if it can happen, that a credit agreement can also be unlawful and why should it not be tried out.

I may be thick but who pays for all the bank charges are refunded, where does this money come from because im sure it aint just a few quid.

Now I still have not made a decision about this, again not about morals and stuff, its just handing over my details to someone I dont know and possibly looking like a total pie.

This company have assured me they have been running for over 4 years, have had numerous trial cases overturned, the guy I was dealing with has told me this,

"scan and send me through your original credit agreement, do not send me us any money. Our solicitoirs will look through your agreement, if they feel it cannot be challenged we will contact you and tell you , and you will continue to pay your loan as usual.

If we know you have a case we can do this for you, there is a flat fee of £285 (maybe a lot i dont know!) and no end fees, this is for a audit. Our solicitors will only take on a case when they know they will win as the court fees are payable by the other party, we would never take on a case that would cost us, its not in our benefit to do that, therefore all you pay is £285 and as the agrement was not legally binding your credit status would be cleared. ALSO .. if you have been charged PPI on a loan that you are unaware you have been paying you may also stand to get that back too ......

I have checked out the website which is governed by 2 bodies one being the ministry of juctice (but not sure if that even goed for anything) they have emailed me through all the clauses they would check out, all information about how to got about this and also copies of court cases they have had overturned (Again im no legal eagle so these could be made up!) i know as my mum says if it sounds too good to be true it probably is.

During my last conversation with this guy I did mention I had asked about this stuff on this forum and that If i did decide to try it out I would have made it very public for everyone because It would put other people in a clearer picture, he said that would be a good idea.

Would they be willing to risk their reputation for £285

Now still not convinced .... is it just me !!!!


Again sound s too good to be true !!!!!!!

Go for it - if you've searched the site you will see no docuemented success stories, but I think it would be great for you to do it and post updates.

glenk63

Oh dear! I have just asked a similar question on this forum. Looks like I'm up for an ear bashing. WEYHEY!! Good on yer Teggy

Londonboy_3

The best thing to do here is to take the £285 and set it on fire, then continue to repay your loans. It will save the disappointment further down the line.

mabski

im new to this forum so forfgive me if im wrong but isnt this a money saving forum?
if it is ,whats wrong with using loopholes or new legislation to avoid paying back loans and save money ?
you could guarantee that the banks and loan companies would do exactly the same to avoid paying a penny back to customers or the taxman
if people want to start talking morals would a religous site be a better place?

~Brock~

mabski wrote: »

im new to this forum so forfgive me if im wrong but isnt this a money saving forum?
if it is ,whats wrong with using loopholes or new legislation to avoid paying back loans and save money ?
you could guarantee that the banks and loan companies would do exactly the same to avoid paying a penny back to customers or the taxman
if people want to start talking morals would a religous site be a better place?

The line between genuine hardship (through no fault of the individual) and pre-emptive fraud where no prejudice has been suffered is blurred too often in these cases. The onslaught of get rich quick opportunists who are just looking for a free ride tends to muddy the waters for anyone who needs genuine help.

Nothing to do with morals - Its just that this is a money saving forum, not a money stealing one.

simon_templar_2

Ask your parents or grand parents what they make of this thread. They will likely be of the school if you cant afford you dont get it or you save up and buy it. Not the i want it now so will borrow then wriggle out of paying it back. I dont recall seeing Martin Lewis advocating dubious methods of saving money by borrowing with no intent to ever pay it back.

mabski

simon_templar wrote: »

Ask your parents or grand parents what they make of this thread. They will likely be of the school if you cant afford you dont get it or you save up and buy it. Not the i want it now so will borrow then wriggle out of paying it back. I dont recall seeing Martin Lewis advocating dubious methods of saving money by borrowing with no intent to ever pay it back.

whats dubious about it?if its legal and you can save yourself a few grand its all good