Mis Sold a Loan

andyfromotley

Hi Haylz,

the difficulty that you will encounter is that the document that you signed will almost certainly have the information on it that you claim you werent provided with. This will basically demolish your case. I accept that there can be sharp salespeople who will misdirect you etc when signing, however, most people expect that when you sign something you have read it. So really your case is in tatters on this front

If you havent had any statements then you should enquire why. They are obliged to send you an annual statement. However all the need to do is prove that they posted it, not that you recieved it.

You have had a quite hard time on here but the advice you have been given is correct. I hope you can stand back and see why that advice might seem a tad harsh. You enquire about mis - selling on the grounds that you were never told how much the total would be. Yet you have signed the document that ALMOST certainly contained this info. Additionally if this info was so crucial to you it seems odd that you didnt double check it before signing. We are seeing a huge number of 'mis selling' posts on these forums but in reality they appear to be no such thing, just poor choices/actions by the borrowers in taking out the loan. (which is not a criticism, i have been the debt king in the past!!) So consequently we tend to view mis selling posts with a slightly cycical view of 'oh no heres another chancer'.

Anyway i wish you good luck with chasing up the statement thing.

Mrs_pbradley936

They only time I have heard of an actual loan being mis-sold was when a chap's mother died. He was sorting out her finances and was told by the bank (it was Lloyds) that he would need to go to Probate. This chap knew that his mother did not have enough to need to go to probate. She did not own a property or any other assets. It turns out that the bank sold her a loan - she was in her 80s and had dementia. The loan money had never been touched and was just sitting in her current account.

It was all over the Money Box programme with Paul Lewis. The bank had to pick up all of the probate charges too!