Does not signing a credit agreement at home make a difference

ExTesco

I signed a loan agreement for a study course (under CCA 1974) but it was not signed at my house. I was unable to meet the agent in my house due to building work, so I met with them at a neighbours house. The form was filled in with my address details but actually signed at a different address to that on the agreement.

Does this have any effect on the legality of the agreement?

Thanks

fluffnutter

I should imagine that the fact that the loan was signed on domestic premises is the key, regardless of whether it's the address on the form. You should still be protected by the Doorstep Selling Regulations.

I've found the following:

The Cancellation of Contracts made in a Consumer's Home or Place of Work etc Regulations 2008 are aimed at traders who enter into a contract with a consumer at their home or workplace. The regulations also cover contracts made at another individual's home or on an excursion organised by the trader away from their business premises.

The regulations cover contracts that are made during both solicited and unsolicited visits by traders. The regulations apply to all contracts with a total payment of more than £35 and they set the cooling off period to a minimum of seven calendar days. The regulations also require cancellation rights to be clearly and prominently displayed in any written contract or provided in writing if there is no written contract.

I think there's a 14 day cooling off period for this type of contract, but I didn't bother reading the legislation. Linky here.

fluffnutter

However, you've not actually asked whether you can get out of the contract. You've asked if it's still legal. To that I would say "yes, it's still a legal contract".

ExTesco

Thanks fluffnutter for prompt response.

2 things, yes I am seeing if I can get out of it.
secondly, I know some credit agreements have been deemed "unenforceable" by trivial matters and I have just noticed that on the multi-coloured 'ncr' form that was completed, the distribution of the coloured parts says.. "pink = leave with customer white = company copy green = customer 2nd copy" - I have been left with the white and green copies (company and customer's 2nd copy) and I have not been left with the pink.

I do not know if the pink contains any different information to that of the white and green.

Is this anything?

dmg24

ExTesco wrote: »

Thanks fluffnutter for prompt response.

2 things, yes I am seeing if I can get out of it.
secondly, I know some credit agreements have been deemed "unenforceable" by trivial matters and I have just noticed that on the multi-coloured 'ncr' form that was completed, the distribution of the coloured parts says.. "pink = leave with customer white = company copy green = customer 2nd copy" - I have been left with the white and green copies (company and customer's 2nd copy) and I have not been left with the pink.

I do not know if the pink contains any different information to that of the white and green.

Is this anything?

The copies are usually identical, otherwise it defeats the object of you each having copies.

Why do you wish to get out of the contract?

zppp

ExTesco wrote: »

Thanks fluffnutter for prompt response.

2 things, yes I am seeing if I can get out of it.
secondly, I know some credit agreements have been deemed "unenforceable" by trivial matters and I have just noticed that on the multi-coloured 'ncr' form that was completed, the distribution of the coloured parts says.. "pink = leave with customer white = company copy green = customer 2nd copy" - I have been left with the white and green copies (company and customer's 2nd copy) and I have not been left with the pink.

I do not know if the pink contains any different information to that of the white and green.

Is this anything?

You are not going to get out of this using the CCA1974, fact. There is nothing anywhere in consumer credit law (apart from Hire Purchase which is where I think you heard this) stating about a cooling off period at home.

Regarding copies of the agreement, that is a no go, as lenders don't need to even retain original credit agreements, and are able to reproduce or recreate the agreement you would have signed without your signature.

What is it you are trying to get out of, and when did you sign the agreement?

fthl

There is nothing anywhere in consumer credit law (apart from Hire Purchase which is where I think you heard this) stating about a cooling off period at home.

Apart from the sections on a right to cancel an agreement not concluded on business premises and then a general right of withdrawal. Which applies depends on the nature of the agreement and when it was signed. I'm guessing that the OP would be looking at the right to withdraw. That is section 60 odd or something I think.

fluffnutter

zppp wrote: »

There is nothing anywhere in consumer credit law (apart from Hire Purchase which is where I think you heard this) stating about a cooling off period at home.

I might have misunderstood your comment, but the regulations about contracts concluded away from a usual business premise, e.g. in the home, specifically allow for cancellation during a set time period (14 days I think although it might depend on the type of service). Perhaps this isn't consumer credit law that's applying hence your comment, but I think your post suggests that there is no cooling off period for contracts signed at home. Which is untrue.

zppp

fluffnutter wrote: »

I might have misunderstood your comment, but the regulations about contracts concluded away from a usual business premise, e.g. in the home, specifically allow for cancellation during a set time period (14 days I think although it might depend on the type of service). Perhaps this isn't consumer credit law that's applying hence your comment, but I think your post suggests that there is no cooling off period for contracts signed at home. Which is untrue.

I was only talking about the CCA, not consumer rights, hence why I asked the OP to elaborate.

zppp

fthl wrote: »

Apart from the sections on a right to cancel an agreement not concluded on business premises and then a general right of withdrawal. Which applies depends on the nature of the agreement and when it was signed. I'm guessing that the OP would be looking at the right to withdraw. That is section 60 odd or something I think.

This is hire purchase, and the cooling off period of 7 days applies if you sign off premises i.e. in your own home. There is no such provision in the CCA.

mo786uk

zppp wrote: »

This is hire purchase, and the cooling off period of 7 days applies if you sign off premises i.e. in your own home. There is no such provision in the CCA.

Yes there are, if you have face to face communication and you are off trade premises.

More info here:
http://www.netlawman.co.uk/info/cancelling-credit-agreement.php

The order that they give you forms is important. You should be given pre contratc information to start with and then you get back a copy of the signed agreement from the business. You cancellation period starts after this I believe.


If the contract was made in the last 7 days then you will probably have cancellation rights udner the Cancelaltion of contracts mad ein a consuemrs home or place of work 2008 regulations.