Mis sold loan??? What can I do?

jonesMUFCforever

I suspect that OP was hoping to make half the repayments then dump the caravan onto the finance company with no loss to themselves.
Now if they sell they lose out - I wonder why the caravan seller prefer personal loans to HP?

Hattyhazel

RightThanks for your responses, don't know how to "quote" so I will respond individually:


1. Kaiserbill- no I am bothered! Very bothered to think that a "reputable dealer" could mislead me!! This is why I have requested a copy of what I signed on the day and 4 other separate occasions from the Finance Company.


2. Moohound - there was no px but I know I could get very close to the settlement figure if I really tried. The dealer has offered me £4k less!


3. Poppa smurf bewdley - I never classed it as miss-selling! I merely sent a letter of concern to the FC and requested a copy of the signed agreement, they come back with an apology, £50 goodwill and a letter to the dealer asking them why they miss sold the loan to me and why they didn't give me the paperwork on the day!
I strongly believe something has happened. The signature box is empty on the copies sent by the FC, so does that mean I'm not bound by its terms? They can't provide me with my agreement???


4. Jonesmufcfirever - OP..?.. What that mean?

poppasmurf_bewdley

Hattyhazel wrote: »

3. Poppa smurf bewdley - I never classed it as miss-selling! I merely sent a letter of concern to the FC and requested a copy of the signed agreement, they come back with an apology, £50 goodwill and a letter to the dealer asking them why they miss sold the loan to me and why they didn't give me the paperwork on the day!
I strongly believe something has happened. The signature box is empty on the copies sent by the FC, so does that mean I'm not bound by its terms? They can't provide me with my agreement???

Then why did you entitle the thread: Mis sold loan??? What can I do?

Hattyhazel

poppasmurf_bewdley wrote: »

Then why did you entitle the thread: Mis sold loan??? What can I do?

BECAUSE THAT'S WHAT THE FC CALLED IT! I'm questioning it!

Hattyhazel

MPH80 wrote: »

It's not legislation - it was a court case:


I've looked at this and although it does say a signed agreement is not necessarily needed, a document containing the figures and signature will still be needed. I have on a separate letter asked for a copy of the document that I signed on the day. This still has not been provided.

opinions4u

You wanted a loan to buy a caravan with. You got one, so the product met your needs at the time of sale.

Not mis-selling. Just shoddy administration.

safestored4

Having read the thread I suspect that JonesMUFC at 9.19 is probably reading the position correctly.

MPH80

Hattyhazel wrote: »

I've looked at this and although it does say a signed agreement is not necessarily needed, a document containing the figures and signature will still be needed. I have on a separate letter asked for a copy of the document that I signed on the day. This still has not been provided.

Bluntly - how do you know? You said yourself you didn't read it properly.

So they've sent you a copy of the loan agreement (from what you've said) - which is what they are obliged to do.

They could easily say in court that since you TOOK the caravan - you clearly signed the document.

M.

Gordon_Hose

Hattyhazel wrote: »

MPH80 wrote: »

It's not legislation - it was a court case:


I've looked at this and although it does say a signed agreement is not necessarily needed, a document containing the figures and signature will still be needed. I have on a separate letter asked for a copy of the document that I signed on the day. This still has not been provided.

Nope. They can enforce a debt without a signature. All they have to do is produce the consumer credit agreement and the T's&C's in force at the time you took out the loan.

A recon agreement is acceptable to satisfy any CCA request pre-2007, but a signed document must be provided to enforce. Post-2007 a recon agreement can be used to enforce - then it's down to the judge to decide whether the document was executed properly.

Did you send of a CCA request with the statutory £1 payment? If not I suspect this is why they haven't responded.

If you signed the document at the dealers I suspect it won't be hard for them to provide a copy of the document.

pvt

But isn't the issue here one of whether the document that the OP signed at the dealer the same as the recon one the FC is providing.

The problem with this whole area of FC's not providing the original signed document is whether the recon is accurate. For example, did the salesman highlight or indeed delete anything on the actual signed version? Did the buyer write anything onto the signed copy? Has the FC modified it's software so it now calculates and shows the correct APR, which it perhaps didn't on the signed version? And, as I think is suggested here by the OP, did the sales person actually get the OP to sign an HP agreement, tear it up, and then submit a loan application instead?

The only way to be clear on this (save for forged signatures) is surely for the original to be produced, or for a copy signed by both parties to be given to the buyer when the document is signed. One has to be suspicious when the seller won't provide a copy at the time of signing.