unenforceable loan help needed please.

sam_wells

unenforceable loan help needed please.
sent a cca request to hfc bank with p/o enclosed and they failed to supply, so stopped all payments. since had lots of letters threatening action if payment is not made. sent off all template letters found on internet, told them they can't pursue payment as they failed to provide a true copy of cca and the loan is unenforceable, this morning got a letter to say failure to pay in 7 days will lead to legal proceedings or debt been passed to an external debt collection agency. the loan was taken out in 2005 for £7000, they failed to tell me apr % and after 28 days called to tell me total payable was £14,000. they also took a joint income into consideration fot the loan as well as child tax credit, working tax credit, child benefit and child maintenence. since wtc and child maintenence have stopped and only one income coming in, but the loan was taken out as a single policy not joint so they should not have taken any of this money into consideration as income. need help as to what to do next. should i send another letter, take it to a small claims court myself, or wait and see what happens. don't want the bailiffs at the door. thanks in advance. sam

StuTheDon

Sam,

If you do not dispute that you borrowed the money I would start paying the monthly amounts again. If they suddenly produce the CCA then you will have unnecessarily trashed your credit report.

Did you sign anything at the time? It sounds like they have not done an accurate check on affordability, but I must point out that you have a similar responsibility. Why did you take the loan when it was obvious you were not going to be comfortable with the repayments?

gnaril

Gotta love these posts....

People jumping on the bandwagon, check thru here who has had sucess with this issue. I dont believe anyone, you have made a bad mistake just stopping your payments to the bank concerned, credit file will be getting trashed. It would do anyways if it does come to pass that any of these unenforceable credit agreements stand the debt just doesnt go away.

Question if they took your joint income into consideration surely you would have told them this inforamation, If you didnt how was it obtained and how did u not correct them before application was done..

Maybe its just me i have had a few loans down the years but i have always been advised what the APR was going to be on the loan being it was due to amount borrowed/personal circumstances etc.

Anyways good luck sam hope it works out sorry but these unenforcable agreements gets on my goat a bit along with from what i see a great many others.

Good luck with your claim.

dzug1

What are you going to ask for in the small claims court (max £5000 BTW) if you take it there?

Your best bet other than paying up is to defend it when they take you to court. Your chances of winning are not that great - courts are taking a dim view of people attempting to wriggle out of their obligations on technicalities.

ILW

Why did you take out a loan with repayments you could not afford?

simon_templar_2

ILW wrote: »

Why did you take out a loan with repayments you could not afford?

So they can sack it off having spent the dosh and get free money.:money: