Loans Paperwork

Sue11

My daughter is getting divorced as she has found that her husband who works in a bank has added tens of thousands of pounds to her mortgage unbeknown to her. She never questioned his requests to sign paperwork for what she was told were insurances or change of account details as far as staff plans go. She loved him to bits and so did we, why would she question him. The total of money added to the mortgage and credit card debts he has totals nearly £100,000. Apparently, and you never know untill you start talking to other people about this, it is happening a lot. I want to approach the banks and building societies so as to get them to put, on the same page as the signature box exactly what you are signing for. Does anyone know how I should go about this.

chalkie99

Unless you can get an industry agreement voluntarily I imagine something like the public petition idea started by the government. See here:

http://www.direct.gov.uk/en/Nl1/Newsroom/DG_198694

Though, surely it says already right next to the signature box something to the effect of " I have read and understand.........."
so I cannot see how you hope to achieve anything else.

[Deleted User]

I'd suggest that anyone who closes their eyes and signs what is put in front of them without even flicking to the front page is probably beyond help.

DCFC79

Sue11 wrote: »

My daughter is getting divorced as she has found that her husband who works in a bank has added tens of thousands of pounds to her mortgage unbeknown to her. She never questioned his requests to sign paperwork for what she was told were insurances or change of account details as far as staff plans go. She loved him to bits and so did we, why would she question him. The total of money added to the mortgage and credit card debts he has totals nearly £100,000. Apparently, and you never know untill you start talking to other people about this, it is happening a lot. I want to approach the banks and building societies so as to get them to put, on the same page as the signature box exactly what you are signing for. Does anyone know how I should go about this.

Should have asked what she was signing, just because you love someone it doesn't mean common sense (to ask what she was igning) goes out the window.

I always ask what im signing if given anything by family and thedo too.

Sue11

The words reading and understanding don't come into it when he was standing there putting the pen in her hand saying to her she would not understand the paperwork if she was to see it. On the last occasion when she thought that she was signing for a loft extension loan of £37,500 which she agreed to and which she did insist on seeing paperwork he came up with, in his handwriting a version that he said she would understand, details of all loans taken out on the house from the beginning leaving out the fact that there was a loan for £36,000 some years previous she did not know about and the fact that she was not signing for £37,500 it was actually £64,000. She still has this handwritten explanation and has given it to her solicitor but has been told that even though the judge would see it she would still have to give him some of the equity to buy himself a property although he has already had more than the equity is worth.

[Deleted User]

Sue11 wrote: »

she did insist on seeing paperwork he came up with, in his handwriting a version that he said she would understand,

That probably would have rung some alarms bells with me.

poppasmurf_bewdley

From what you have put in your opening Post, I would suggest a visit to the nearest police station and an interview with the Fraud Squad would be a very good idea.

DCFC79

A very expensive lesson learnt, do not trust a handwritten loan agreement so its easier for you to understand.

DCFC79

Sue11 wrote: »

Apparently, and you never know untill you start talking to other people about this, it is happening a lot. I want to approach the banks and building societies so as to get them to put, on the same page as the signature box exactly what you are signing for. Does anyone know how I should go about this.

I dont know anyone who has been duped so to speak but im sure it does happen.

The part about the banks wont happen as people should be more aware of what they're signing.

Sue11

There was never any other paperwork than the signature sheet ever put before her. In any given situation in hindsite we could all say we should have done this or that. These people are con men they know the words to use and the way to play on a persons mind that is how every case of fraud happens but if we have things in place to stop what is apparently a common crime at least we would be going someway to eliminating it.

CKhalvashi

I've always questioned anything I've been asked to sign, especially if there is money involved.

Over the last 10 years, I've been asked to sign forms that give my company to someone for £1, ex business partner tried to take loans secured against my company, and had I done the above, I'd have nothing at this precise moment.

Just because you live/work with someone doesn't mean you should trust them.

CK