Unenforceable loan

stuffed80

Hi everyone.. I have a loan which I have been told is not enforceable by law. I am still paying this as i feel its the right thing to do.. But the company which is a large lender told me back in April they would put a notice of correction on my file stating it was unenforceable by law . After many letters and emails they still have not followed through and done this. So beneath is my latest email to them . just thinking if I don't get a reply shall I just stop paying then maybe I would get there attention and make them do what they said they would?

Hi my name is xxx xxx and I have an outstanding loan with you with the account number xxxxxxxx.

I have been in a DMP the last few years and have never missed a payment.


In April 2016 I received a letter from you informing me you had completed an investigation into the personal loan I hold with you, stating that the statements you had sent me did not fully meet the standard set out in the consumer credit act.

The letter goes on to say that the default notice on my account will remain for 6 years from when it was applied however you were to update my my file with a note , by means of a notice of correction stating that you will not take legal action to recover this debt. (This letter and its contents is added as a an attachment to this email).

Unfortunately 20 months later and many letters to your complaints department after , this still isn't on my credit file.

I am happy to carry on paying this loan off as quickly as I can but I am disappointed you have not followed through with what your letter says.

My next step is to make contact with a financial advisor and see if there is any point in me carrying on paying towards this loan.

Hopefully you will correct my credit file with the notice of correction and I can carry on paying it off as quickly as I possibly can.

Look forward to hearing from you

Any advice is greatly appreciated

[Deleted User]

Why did they say it was unforeceable? Statement issues normally result in interest being suspended.

When unenforceable, the loan remains as showing owed, but no action can be taken to collect it.

It may be that they have realised they no longer need to put a NoC.

fermi

Grace and another v Black Horse Limited [2014] EWCA Civ 1413 may be useful.

https://consumercreditlitigationanddebtcollection.wordpress.com/2014/10/31/grace-v-blackhorse-court-of-appeal-ruling-my-view-as-the-fee-earner-responsible-for-the-case/

http://www.legalbeagles.info/forums/showthread.php?83943-I-got-a-default-removed-using-Grace-amp-Anor-v-Blackhorse!-Sharing-my-experience

Removal may be optimistic, but a NOC is the least that should be done.