Paid off a possible unenforceable loan, any redress?

benfish88

I have paid off a loan of £8,595 to Barclays Partner Finance in a lump sum payment, but since then it has become apparent that the loan may not be enforceable and may indeed have been illegal.

The loan was to cover the costs of a training company to which I signed up, which it has become apparent is extremely dodgy and fraudulent.

Do I have any routes open to me to reclaim the paid off loan amount?

Thanks for your help guys

dougyd

I was really toying whether to answer this or not, but I guess this means I have.

You borrowed money and paid it back but now you want to re-claim money which wasn't yours to begin with?

No there's no redress and even if there was, you borrowed the money, you have a responsibility to pay it back.

esuhl

benfish88 wrote: »

I have paid off a loan of £8,595 to Barclays Partner Finance in a lump sum payment, but since then it has become apparent that the loan may not be enforceable and may indeed have been illegal.

I doubt whether you can (though I don't know for sure). Presumably by repaying the loan, you are implicitly acknowledging that the loan was legitimate...

benfish88 wrote: »

The loan was to cover the costs of a training company to which I signed up, which it has become apparent is extremely dodgy and fraudulent.

In that case, your claim should be against the training company. If they have fraudulently conned you out of thousands of pounds, I would sue the pants off 'em!

benfish88

Sorry let me explain this a little better..

The loan was brokered by the training company to pay for their 'training' in my name nad my responsibility to pay the money back, but it has come to light that they may have not have the proper licensing or entitlement to broker the loan effectively making the loan an illegal loan.

I was just wondering, other than taking action by suing the training company, whether this apparently illegal loan could be recovered.

speedbird1973

dougyd wrote: »

I was really toying whether to answer this or not, but I guess this means I have.

You borrowed money and paid it back but now you want to re-claim money which wasn't yours to begin with?

No there's no redress and even if there was, you borrowed the money, you have a responsibility to pay it back.

Possibly a bit too keen to have a mong their doug. If the OP paid for something and didn't receive the service then he potentially has a claim through his creditor. It's not an unenforcable agreement as such, but the credit company is jointly liable if goods aren't received.

Top hand wringing though Doug!

woody01

benfish88 wrote: »

I have paid off a loan of £8,595 to Barclays Partner Finance in a lump sum payment, but since then it has become apparent that the loan may not be enforceable and may indeed have been illegal.

The loan was to cover the costs of a training company to which I signed up, which it has become apparent is extremely dodgy and fraudulent.

Do I have any routes open to me to reclaim the paid off loan amount?

Thanks for your help guys

1. You owed the money
2. You paid it back
3. You want the money you paid back in your pocket again as its unenforcable?

Just be greatful its paid.

Possibly a bit too keen to have a mong

and OP..
Please do not take advice from this person as they clearly have an extremely limited vocabulary.

People that use words such as that are almost always the stupidest.

dougyd

speedbird1973 wrote: »

Possibly a bit too keen to have a mong their doug. If the OP paid for something and didn't receive the service then he potentially has a claim through his creditor. It's not an unenforcable agreement as such, but the credit company is jointly liable if goods aren't received.

Top hand wringing though Doug!

Haha, thanks!

I'll happily have my hand slapped if I jump to a conclusion, but from what the OP has said, they borrowed money, paid it back and now want the money again.

speedbird1973

Well if that is the case then you're more than welcome slap my wrist!

nomoneytoday

If the training company have done wrong then the recourse in the first instance should be with them

dougyd

Sorry Ben,

Maybe I did jump the gun.

Just so i'm clear, did you sign-up to the training company and then they took out a loan for your training which you had to pay back directly to the bank?

If so, and you knew/was happy with this at the time then you have no recourse.

If you've been scammed by the training company then you may have recourse on the training company.

mikey72

I read it as he's took the training, and hasn't complained about it, but the company that sorted out the loan
" may have not have the proper licensing or entitlement to broker the loan effectively making the loan an illegal loan. "
but he found out to late to renege on the agreement. So he paid it back, and now realises he could have cheated on it.