Loan agreement signature and DCA's

t1m0thy

Hi,

in April 2007 I took out an unsecured personal loan with Egg. I defaulted on this in 2009. When I took out this loan I did so online checking a box to show I agreed with the T&Cs. There was never a signature.

My understanding now is that there has to be a signature. If this is true what does it mean for me?

This debt has passed now to DCAs. I can't find my original agreement but assuming there was a clause about transferring the debt to a DCA/third party, can this be valid without a signature?

Thanks.

DevCoder

Why do you think there needs to be a "wet signature" ?

Why would a digital signature not be adequate?

rizla_king

From 2005 a digital signature in the form of a tick box was legally acceptable and from April 2007 even a credit agreement that wasnt signed digitally or physically would be enforceable against you by order of the court.

t1m0thy

krisdorey wrote: »

Why do you think there needs to be a "wet signature" ?

Why would a digital signature not be adequate?

Because that is what I was told by an acquaintance who I believe has also had money trouble. Are you suggesting that it's not the case? Or are you just being patronising because you see it as a stupid question?

t1m0thy

rizla_king wrote: »

From 2005 a digital signature in the form of a tick box was legally acceptable and from April 2007 even a credit agreement that wasnt signed digitally or physically would be enforceable against you by order of the court.

Thanks, very helpful. I assume you mean from the 1st april 2007? The date of the agreement was april 23rd 2007!

rizla_king

The law change was agreements entered into from 6th April 2007.

https://www.google.co.uk/#q=6th+april+2007+credit+agreements

Bantex_2

t1m0thy wrote: »

Because that is what I was told by an acquaintance who I believe has also had money trouble. Are you suggesting that it's not the case? Or are you just being patronising because you see it as a stupid question?

What did you do with the money?