Credit agreement that can't be cancelled?

cashbuilder_2

Hi guys, to put it shortly as possible, a relative signed up for a plumbing course with a company called Train 4 Trade Skills three yrs ago. She signed for a credit agreement without really understanding it and what she felt was pressure from the sales rep who visited her at home. She apparantly had 7 days to cancel the course, which she tried to do but she got no response from the company, either via phone or post to acknowledge this.

Then, she tried to cancel the credit agreement, but we have just learned from someone from the FOS it says on the form she signed that she cannot cancel a credit agreement, and would have had to pay for the whole course regardless (said relative stopped payments and is trying to reclaim the cost as she wasn't given her cancellation rights on paper at the beginning).

What I needed to know was is this legal in the UK? The CAB website isn't very helpful. It appears she had no time to cancel the credit agreement at all, but I thought every loan in the UK would allow some time to cancel.

Any advice would be appreciated.


CB

iolanthe07

I thought every loan in the UK would allow some time to cancel.

AFAIK you have 14 days to cancel a loan agreement if you change your mind, though not if you sign on the trader's premises.

worried48

Sounds as if she ran out of time to cancel the credit agreement?

ILW

Why sign an agreement if you don't want it?

Am I missing something?

Clive_Woody

She may have been able to cancel the finance agreement but not her agreement to complete the plumbing course.

If she cancelled the finance she may have still had to pay for the course using some other means.

The finance may well be separate to the plumbing course.

cashbuilder_2

I thought every loan in the UK would allow some time to cancel.

AFAIK you have 14 days to cancel a loan agreement if you change your mind, though not if you sign on the trader's premises.

She signed in her own home - would that make a difference?

Why sign an agreement if you don't want it?

Am I missing something?

Actually, you are missing info but only because it would take too long to explain. I am trying to pursue what my relative felt was a mis-sold course.

Tixy

Might be word a read of this thread (I haven't read it but it may be of use to you)
Train4trades skills loan cancellation issue.

tonycottee

iolanthe07 wrote: »

I thought every loan in the UK would allow some time to cancel.

AFAIK you have 14 days to cancel a loan agreement if you change your mind, though not if you sign on the trader's premises.

That isn't actually correct. In fact, you've said the same before and been corrected.
https://forums.moneysavingexpert.com/discussion/comment/63130316#Comment_63130316=

Op, your relative could have cancelled the credit agreement within the 14 days, however she would have needed to find an alternative source to finance the course.

cashbuilder_2

Op, your relative could have cancelled the credit agreement within the 14 days, however she would have needed to find an alternative source to finance the course.

Let's say she actually managed to cancel the loan within the 14 days AND successfully cancel the course within the 7 days, then there wouldn't be an issue, right?

Said relative tried to contact the company to cancel the course within the 7 days but continually got fobbed off - which seems to be the problem.

cashbuilder_2

Op, your relative could have cancelled the credit agreement within the 14 days, however she would have needed to find an alternative source to finance the course.

Let's say she actually managed to cancel the loan within the 14 days AND successfully cancel the course within the 7 days, then there wouldn't be an issue, right?

Said relative tried to contact the company to cancel the course within the 7 days but continually got fobbed off - which seems to be the problem.

CB

PS Thanks for all your advice peoples.

tonycottee

cashbuilder wrote: »

Let's say she actually managed to cancel the loan within the 14 days AND successfully cancel the course within the 7 days, then there wouldn't be an issue, right?

Said relative tried to contact the company to cancel the course within the 7 days but continually got fobbed off - which seems to be the problem.

CB

PS Thanks for all your advice peoples.

That's right. The credit agreement would probably have a charge, but thats normally a small fee or interest calculated daily.
I can't really help with regards to Train 4 Trade and their courses, however I have heard a lot of negative things about them. Your relative will need to be able to provide evidence that she tried to cancel the course. Does she have any (e.g. a letter sent recorded delivery)?