Secured Loan and being asked to provide false info

captainando

After getting into a large amount of business debt (personally secured) I was advised to go for a full n final IVA settlement to clear the debt.
I took the advice in good faith (from a renowned company), it meant I was offering high 20s in the £ against the debt and my self employed position meant I was unable to commit to a monthly fee without fear of default.
I took out a secured loan (please no notes on how foolish and everything else, been there, and regretted it every day)
Anyway, I was presented with a company to use (provided by the agency I was talking to about the IVA) Arranged the secured loan, and when presented with the documents to sign, we were told by the salesman that my wife would have to 'create' a job title as she was a housewife. I need to look at the paper work to see if they made her 'create' a salary, I imagine they did.
Anyway, the position we were in we felt we had no choice but to agree, otherwise Bankruptcy, lose the house (turned out I went BR anyway)
So we signed and have been paying through the nose ever since.
I appreciate I/We were stupid but on reflection we were steam rollered. Do we have any recourse in law.
Apologies for war n peace, thought background may help.

CLAPTON

if you went BR why wasn't the loan written off in the BR

Clive_Woody

captainando wrote: »

Do we have any recourse in law.

What, other than admitting you committed fraud? Don't think so.


As has already been asked was this loan not written off when you went BR?

_Andy_

As stated above you were party to fraud so might not want to be something you highlight

Emmzi

"made" with a cattle prod?

c'mon now. this will never wash.