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Lender can't provide copy of agreement
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meghji
Posts: 26 Forumite
Hi
I have a number of loans and credit card debts from about 2000. I defaulted on them and am currently paying them off via various debt collection agencies.
I have written to the agencies asking for copies of the original agreement so that I can check if I had taken out any PPI and if I might be able to make a claim.
One of the agencies has written back to me stating that the original agreement is not available and I am still waiting to hear from the other agencies even though I wrote to them over 2 months ago.
Can anyone please advise what I should do if an agency can't provide a copy of the agreement or if they are taking too long to provide one.
Also if they can't provide a copy of the agreement, can they still collect the debt from me.
All help would appreciated.
Thank you
I have a number of loans and credit card debts from about 2000. I defaulted on them and am currently paying them off via various debt collection agencies.
I have written to the agencies asking for copies of the original agreement so that I can check if I had taken out any PPI and if I might be able to make a claim.
One of the agencies has written back to me stating that the original agreement is not available and I am still waiting to hear from the other agencies even though I wrote to them over 2 months ago.
Can anyone please advise what I should do if an agency can't provide a copy of the agreement or if they are taking too long to provide one.
Also if they can't provide a copy of the agreement, can they still collect the debt from me.
All help would appreciated.
Thank you
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Comments
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Can anyone please advise what I should do if an agency can't provide a copy of the agreement or if they are taking too long to provide one.
You dont need the agreement to make a PPI complaint.Also if they can't provide a copy of the agreement, can they still collect the debt from me.
No. They can use a reconstituted copyI am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Don't forget also that the bank can use the PPI refund against your outstanding debts if they have the ability to buy back the debt from the debt agencies so you may not see a penny - as such don't use a claims management firm who will charge you for a % of any money you get back even if you don't see any of it
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Thanks for the help0
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