Still got the loan but not got the goods

driver817

Hi to all
Bear with me I'm new to this game!
In October 2006 I took out a loan on behalf of my son for a distance learning course. the amount of the loan was £5150 over 60 months at 18.9%; total amount £8052.
Due to a change in my son's personal circumstances around the end of 2007 he could not continue with the course and informed the company accordingly. No letter was ever received confirming this. (It says in the company T&c's that no refund would be made for discontinuation of the course).
Do I still have to continue to repay the loan or is there any way round this?
Sorry if it seems a bit long winded.

Thanks
Driver817

Malky

And why wouldn't you have to pay it back? Not your lenders fault you no longer have the goods/services that you spent the loan on.
It's no different, for example, taking out a loan for a car then writing it off. No car anymore but the loan still has to be repaid.

driver817

Hi Malky
Okay, thanks. Sorry, I think I need to get my brain in gear before asking any more dumb questions.

Thanks
Driver817

jonesMUFCforever

It wasn't a dumb question - I do hope that your son is paying you back though.