Help to Get my Loan Written off

redpete

never-in-doubt wrote: »

why? no agreement means it is not enforceable, therefore would mean no need to repay.

Its the law - love it or hate it. Your opinion matters little versus the law of the land. :rotfl:

No need to repay, unless you think that money owed on a loan should be paid for moral reasons and not just according to the law of the land. The law does not say that you shouldn't pay but that you cannot be pursued to pay it.

littlelost

We have recently had a loan with natwest 'written off' or so to speak, We gained load of advice from consumer action group, Google it. There are many people there in the same position.

With us basically natwest were taking us to court for 36,000 this was an overdraft and loan that had been restuructured many times, The last being in feb 2002, or so they claim..

The sent us the court claim forms over 18 months ago now and we basically followed all the advice we were given, asked for a credit agreement they admitted they couldnt find it, Then just stood our ground when they wanted to settle a lower amounts, Untill we recieved a letter saying it wasnt cost efficient to chase the debt and they would no longer pursue us now or in the future for this debt.....

I know many think it is wrong to have debts written off, we are currently on payplan and have kept up payments to repay our debts, Natwest were not willing to accept the offers paypal made so took us to court instead.... We had no choice but to fight...........

littlelost

I think you are best to wait until they take you to court then fight them if you want to clear your debt... Not sure if others think the same way?

never-in-doubt

SueSueSue wrote: »

Look up the term undue enrichment

The reason why this wont win out. they might terminate the loan but the amount can still be reclaimed.

Unenforceability means the debt remains but cannot be pursued. As the original contract was under CCA 1974 then the laws surrounding that would take precedence meaning that if the loan is unenforceable for whatever reason, then the debt will not be pursued but the reason the default would remain is because the debt is there - it just cannot be pursued.

It will, therefore, win out. The lenders will not seek to fight back under 'undue enrichment' because they have not technically lost out to another, they have acted unlawfully in the first place and as a result the contract is voided i.e. made unenforceable (to pursue)...

Do you actually know what you're on about here or just trying to confuse people?

never-in-doubt

littlelost wrote: »

We have recently had a loan with natwest 'written off' or so to speak, We gained load of advice from consumer action group, Google it. There are many people there in the same position.

Lots of lawyers on CAG.... remember there differences between the sites (MSE people don't support unenforceability whereas CAG people support the law and morally do not question your actions. CAG is also filled with lawyers and legal execs who love a new challenge so help for free.......

Link is here: http://www.consumeractiongroup.co.uk/forum/#black-consumer-forums-center

You'll see most people on here are also members of CAG...

RobertoMoir

sharpy2010 wrote: »

I just find it a little bit frustrating that all these people whose loans get written off are getting free money from other people who DO pay their bills. Like N-I-D says tho, my opinion matters little as far as the law (which in this country is a joke) is concerned!

No wonder people don't bother to do the right thing any more. And as a consequence, everyone suffers.

The banks have been known to hold people to obscure terms in agreements, the letter of an agreement instead of the intent, if you will. For example, bank charges when someone's account is overdrawn for a few hours because DDs are taken out in the morning and salary paid in the evening.

So the banks are keen for people to follow the law and terms of contracts precisely, clearly they encourage it with their behaviour. So how can they complain when people do what they have encouraged them to do?

Maybe if the banks "bother to do the right thing" on matters like that then people would have more sympathy for the banks position. I'm just saying.

Oh and before you start questioning my moral compass as I'm sure you're itching to do by now, I'm actually part of the "if you borrow money you really should pay it back" brigade, I'm just objective enough to realise that the banks are reaping what they have sewn here.

never-in-doubt

Thanks for clearing that up Roberto - and for the record, this man is also an ex bailiff and has helped immensely with the default thread. I bet you've seen some shockers in your life - and also seen how lenders/DCA's breach and 'bend' the laws?

never-in-doubt

SueSueSue wrote: »

Its all great in theory but why is it if this argument wins that no one seems to be winning.

Its always "friends of friends" who have managed it

Theory? Nah, rather fact!

Who isn't winning? Winning what exactly?

You dont have to go to court to ensue unenforceability - most lenders now write out confirming the debt will not be pursued because they cannot locate an agreement.

Its happening, love it or hate it!

thechippy

Bumping because I've had a glass of wine, feeling silly and I find N-I-D's posts always amusing......:beer:

never-in-doubt

thechippy wrote: »

Bumping because I've had a glass of wine, feeling silly and I find N-I-D's posts always amusing......:beer:

Ermmmm - Thanks (I think?)!

You want amusing..... ok here goes:

This guy walks into a restaurant and orders spaghetti. He is served and after all of it is nearly gone he finds a hair in it. He calls the waiter over and says, "Do you see this damn hair? I ain't paying for this dirty !!! meal!" and walks out.

The waiter watches him, and the guy goes into a brothel. The waiter waits about ten minutes and bursts through the door and the guy has his face buried in pus sy...

The waiter says, "You eat pus sy and complain about one lousy little hair you found in the spaghetti?" The man replies, "Yes, and if I find any spaghetti in her pus sy, I sure as hell ain't paying for it either!"