I have not signed a CCA for my loan!

aimililey

Please Help,

In 2004 i worked for a bank as a loans and mortgage adviser. My manager authorised a loan into my bank account without a signature on the CCA.

I wrote to the bank a while back to ask for a signed CCA (knowing i hadnt signed one so they couldnt produce one but i was told this was the process). I never recieved a CCA but did recieve copies of accounts some months later.

Where do i stand and what do i do next?

Thanks:)

Tiddlywinks

Assuming you're not just trying to wind everyone up with a tall story.....

As a former bank worker you would have known the loan application system in place at that time. Similarly, your position assisted your effort to secure a loan without completing all usual processes.

I take it you have received and used the funds.

How do you think this appears under close legal scrutiny?

RichGold

aimililey wrote:

Where do i stand?

You had a loan.

aimililey wrote:

what do i do next?

Repay anything outstanding.

aimililey wrote:

Thanks:)

Your welcome.

zppp

Things have moved on quite a bit since 2004. Under the Consumer Credit Act 1974, it is no longer a requirement for a lender to supply you with a signed copy of the agreement after the funds have been lent to you. All they have to supply you with is the agreement which should have been signed. The test case for this is McGuffick v RBS in 2009, concluding 2010.

Nice try though.

aimililey

so do you think a full and final settlement is a better option zppp? I havent made any payments to this loan as i have always contested it with the bank but because i was 'staff' it was never actually taken seriously. The loan was defaulted in january 2008 so if i dont make a payment will i still be liable to pay after january 2014?

thNKS

dmg24

Surely if you knew that the loan was not administered correctly you would not have accepted the money in the first place?

zppp

aimililey wrote: »

so do you think a full and final settlement is a better option zppp? I havent made any payments to this loan as i have always contested it with the bank but because i was 'staff' it was never actually taken seriously. The loan was defaulted in january 2008 so if i dont make a payment will i still be liable to pay after january 2014?

thNKS

The statute of limitations is 6 years, and this would be from the date of default usually. As such it will not drop from your credit file, unless you make a full and final settlement or you pay off the outstanding balance in full and satisfy the default.

Ignoring the debt within the limitations means that the firm can get a CCJ against you, which means the debt becomes court enforceable. After the 6 years, debt collectors can still chase you for the debt, but the company will not normally be allowed to enforce it in court.

pvt

aimililey wrote: »

I havent made any payments to this loan as i have always contested it with the bank

What aspect of it was contested by you?

How have you contested it?

Did you ask for the loan?

Did the lender give/send you any paperwork?

Did you spend the money?

pvt

paulwellerfan

are you saying that you didnt have the money?
or just that you dont want to pay it back
shame on you if its the latter......

RichGold

aimililey wrote: »

it was never actually taken seriously

By yourself it seems, unfortunately.

lilac_rainbow

Are you seriously trying to say that you got a loan from a bank at which you were employed, your manager didn't get you to sign a form, you took the money, you spent the money, you defaulted on the loan repayments to the bank ie your employer and you are using this lack of signature as justification for non-payment

Are you for real???????