Mis sold loan??? What can I do?

ILW

safestored4 wrote: »

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

Sounds unlikely as OP only bought thing thing 3 months ago, doubt if have paid 50% yet.

Cannot see why they are complaining about not being HP as that would have restricted their ability to sell.

Sounds more like just trying to wriggle out of paying to me.

Gordon_Hose

pvt wrote: »

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.

They aren't required to provide signed copies to satisfy a request made under the Consumer Credit Act 1974.

SAR the dealership and send a CCA request to whoever financed the loan. Compare.

chanz4

The dealer will have it, as it would of been faxed off to pay out. Op your clutching at straws you dont hold.

SeanG79

You will have signed a fixed term loan agreement. (Lenders have relatively strict payout procedures to ensure they have all the correct documentation - most lenders a deal is second checked by someone else before a deal pays out). It is improbable that you will have signed a HP agreement document.

This is fairly common with caravan finance. Sometimes lenders insist on a fixed term loan agreement, especially if you have made use of the voluntary termination in previous agreements(recorded on your credit profile) or if its an asset they feel will depreciate quickly over time to protect themselves against potential losses.

Hattyhazel

Hi all thanks again for ur replies, some of you obviously think I'm scum by assuming the worst! I merely asked the fc for help n advise and found something fishy going on. In hindsight I feel duped and cheated and maybe the Fc have also been by the dealer. Btw some 2-3 week prior to ordering the van I had been to another dealer and accepted with black horse (just like the previous 4 or 5 vans/cars (all settled) under Hp. We found a better deal and decided to go for the other van telling the new dealer that bh had already had a proposal. The dealer told me that bh had refused (presumably because of the finance amount was higher but told not to worry as Barclays had accepted me. I am now in touch with trading standards. They have got my correspondence and looking into it under Misrepresentation Act 67! Thank you Pcv for understanding where I'm coming from.