Help with a Loan I didn't agree to

Esko

I hope someone on the site can point me in the right direction.

My brother had a Kitchen installed by Space Kitchens of Blackburn in 2005. The arrangement was that I would take out a finance agreement in my name and he would pay for it as a third party.

The salesperson at Space Kitchens proposed a 5 year agreement using G.E Capital which I signed up to. He left me with the proposal paperwork. The agreement was a 5 year loan with no PPI and I have the original proposal documentation. This is the last involvement I had on the matter.

Space Kitchens went in to administration in 2008.

It's now transpired, 6 years since I signed the agreement that there was no loan agreement with G.E Capital - and instead my brother has been paying Welcome Finance. They have us on a 10 year agreement with PPI. I met with Welcome Finance and they showed me a signed agreement with my signature, my agreement to PPI and a copy of the credit agreement.

I don't recall agreeing to a loan with Welcome Finance, or signing any paperwork related to Welcome F. Their position is that the credit agreement has been executed and since the agreement is in my name, I am liable to pay and settle the account. They have offered to reimburse any PPI paid back to the outstanding balance.

My predicament is that I don't recall agreeing to any Welcome Finance agreement and received no paperwork from them around the dates they have advised I took out the loan.

I can only surmise that Space Kitchens proposed a 5 year agreement to me with G.E Capital, and then changed this to a 10 year agreement with Welcome Finance. Space Kitchens no longer exist so I have no recourse to requesting any information from them.

Welcome Finance insist that I must pay the outstanding balance on the 10 year agreement.

Where do I go from here?

Please ask any questions you need to help you formulate a response.

All the best

ILW

Is your signature on the loan document or are you saying you never signed it?

sulkisu

What does your brother say about it? If I have understood your post correctly, he has been making the payments on the loan since 2005. There is a big difference between repaying a loan over five years and ten years. Whatever payments were agreed at the outset, he must have noticed that he was paying a different amount?

KingElvis

Sounds like they went for a prime loan with GE capital and when that was refused, financed the whole shabang with those lovely people at Welcome.

I don't understand how your signature got onto the Welcome documents though, is it your sig?

Apples2

Does your Brother know more about this than he is letting on to you?

Why did he start paying WF when he know it should have been GE?

Esko

It is my signature but I definitely have not signed a Welcome Finance agreement - the copies they showed me had been scanned electronically, originals destroyed and I was shown printed copies.

topcat9

Esko,

I thought your brother was paying the loan so am unclear on why they are asking you for repayment of the outstanding balance?