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mis sold loan by broker, who is responsible?

AIKI_2
AIKI_2 Posts: 13 Forumite
in Loans
I have no doubt are loan was mis sold , got a reply back from loan company when I questioned this got more or less not are problem you can try FSCS but as they knew loan although secured was unregulated and broker was banned for serious misconduct so no comeback . My question is the loan company liable in any way ? Thanks
«134567

Comments

  • tell_it_how_it_is
    tell_it_how_it_is Posts: 555 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    To be honest, you'd need to provide much more detail and construct your post a lot better before you could receive any meaningful replies.
    “In any moment of decision the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing at all.” - Roosevelt
  • Tixy
    Tixy Posts: 31,455 Forumite
    There are very very few cases of debtors successfully challenging lenders where they believe a loan has been mis-sold.


    But without more information about your situation, your loan and why you think it was mis-sold then it is almost impossiblefor anyone on here to give any opinion on it.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • poppasmurf_bewdley
    poppasmurf_bewdley Posts: 5,928 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I've read many, many threads on this forum from people claiming to have been mis-sold a loan, but I've yet to see a case of mis-selling be proved.

    There are plenty of examples, however, of people mis-buying loans.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Basically you applied for a loan - you got a loan but before you got the loan you had a contract put before you to read and understand.
    You signed the contract the lender gave you the money and then you repay as per contract you signed.
    Nobody forced you to sign the contract.
    What does your CONTRACT that you signed say about the loan and how was it missold?
    What could they have done different?
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    AIKI wrote: »
    My question is the loan company liable in any way ? Thanks

    What did you do with the money you were advanced?
  • Foxy-Stoat_3
    Foxy-Stoat_3 Posts: 2,980 Forumite
    jonesMUFCforever wrote: »
    What does your CONTRACT that you signed say about the loan and how was it missold?
    What could they have done different?

    They signed it in a waiting room, not an office....sadly I do not think this is grounds to be miss-sold.

    https://forums.moneysavingexpert.com/discussion/5199340

    Whats they current balance, payments, interest etc?

    Would you be able to take out a cheaper unsecured loan and reduce your outgings that way?
    "Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!
  • dealer_wins
    dealer_wins Posts: 7,334 Forumite
    A waiting room is still the business premises.

    Even if he signed it in the toilet its still on business premises lol
  • poppasmurf_bewdley
    poppasmurf_bewdley Posts: 5,928 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The contract to bring Yul Brynner to the London Palladium to star in The King & I was signed in the toilet of a Conservative Club in Oldham. I was one of the signatories.

    I wonder if that was illegal?
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I always assumed that any activity carried out in the toilet of a Conservative Club would be illegal.
  • dealer_wins
    dealer_wins Posts: 7,334 Forumite
    Deleted_User wrote: »
    I always assumed that any activity carried out in the toilet of a Conservative Club would be illegal.

    :rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:
This discussion has been closed.
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