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Guarantor loan from over 20yrs ago

edited 30 November -1 at 12:00AM in Loans
13 replies 2.2K views
Spaniel1978Spaniel1978 Forumite
3 posts
edited 30 November -1 at 12:00AM in Loans
Morning all, I hope you can help

Back in 1998, my grandad was a guarantor for a loan for me for a car, which ended up getting stolen and then it transpired that the garage were corrupt and did me out of money for a GAP insurance policy.

The initial loan was with GE capital woodchester. To cut a long story short, there is still £1631.04 outstanding

I am being contacted by Link financial who are chasing the debt however I am confused over the last letter they sent me.
I raised a complaint with them as they kept sending letters to my grandad, to my address despite me proving that he had died over 10 years ago ( I sent the death certificate) they kept sending ‘validating you address letters’ not sure how they could do that he’s never lived with me. They have eventually taken his name off the account
My question is, can they still chase the debt from 21 years ago? I asked for the credit agreement which they have sent.. but they have sent me a letter that first states that it is enforceable.. the it states as of 5 November 2019 it’s unenforceable until they provide me with the full Reagan’s documentation ( unsure what this means as they have sent it) then it says at the bottom of the letter I am still liable.

Totally confused, happy to attach the letter they have sent ( unsure how on a phone?) and grateful of any advise
Thank you :)
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Replies

  • *relevant documentation not Reagan’s...
  • zx81zx81 Forumite
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    The pertinent question is when was the loan last acknowledged.
  • _shel_shel Forumite
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    Have you been paying this loan the whole time? When did you stop Paying?
    Don't Buy The S*n
  • BobQBobQ Forumite
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    The debt is yours not your guarantors.
    You appear to keep acknowledging the debt by replying to the debt holder
    Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.
  • I can’t actually remember the last time I made a payment on there it was well over 15 years ago possibly 17-18yrs, I put the account in dispute due to the gap insurance issue and the it turned out the garage went bump
  • foxy-stoatfoxy-stoat Forumite
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    If you havent acknowledged the debt for over 6 years then it may well be statue barred.
  • fworfwor Forumite
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    then it says at the bottom of the letter I am still liable.

    This is likely to be wording that is deliberately designed to confuse.

    If you really haven't acknowledged the debt within the last 6 years then it probably is statute barred - but they are also correct in saying that you do still owe the money. However, they cannot take any enforcement action on a statute barred debt.
  • edited 28 November 2019 at 6:49PM
    Ben8282Ben8282
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    edited 28 November 2019 at 6:49PM
    Confused about a few things here.

    How did this corrupt garage manage to do you out of the money for a GAP insurance policy? If you paid them a lump sum to arrange such a policy, did you never think to actually obtain the policy document?
    How long after the purchase was the car stolen? Was the car insured other than by this non-existant GAP policy? Presumably it was if you were able to tax it. What sort of insurance cover did you have?

    Why exactly did you stop paying the finance? Simply because the car was stolen? When you stopped paying why was your grandfather not contacted at the time? A car loan can't have been over that long a period and you say he only died about 10 years ago so that was 11 years after the car was purchased. What happened when your grandfather was contacted? Why did he not take over the payments?

    What was the term of this loan? You say you last paid 15, maybe 17-18 years ago. You purchased the car 21 years ago. You are trying to blame everything on this GAP policy or lack thereof. Was it just a one off payment that the garage pocketed? No annual renewals or monthly payments? i

    I also can't understand why they are writing to your grandfather at your address and am somewhat surprised that you have been corresponding with them in relation to his death.

    Who actually provided this guarantor loan for a car?
  • _shel_shel Forumite
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    Ben8282 wrote: »
    Confused about a few things here.

    How did this corrupt garage manage to do you out of the money for a GAP insurance policy? If you paid them a lump sum to arrange such a policy, did you never think to actually obtain the policy document?
    How long after the purchase was the car stolen? Was the car insured other than by this non-existant GAP policy? Presumably it was if you were able to tax it. What sort of insurance cover did you have?

    Why exactly did you stop paying the finance? Simply because the car was stolen? When you stopped paying why was your grandfather not contacted at the time? A car loan can't have been over that long a period and you say he only died about 10 years ago so that was 11 years after the car was purchased. What happened when your grandfather was contacted? Why did he not take over the payments?

    What was the term of this loan? You say you last paid 15, maybe 17-18 years ago. You purchased the car 21 years ago. You are trying to blame everything on this GAP policy or lack thereof. Was it just a one off payment that the garage pocketed? No annual renewals or monthly payments? i

    I also can't understand why they are writing to your grandfather at your address and am somewhat surprised that you have been corresponding with them in relation to his death.

    Who actually provided this guarantor loan for a car?

    But if it's statute barred none of that matters. He just needs to send a letter telling them that. https://www.nationaldebtline.org/EW/sampleletters/Pages/Time-has-run-out-to-recover-the-debt-%28sole-name%29.aspx

    Not a chance this company will have the original loan agreement after this long either.
    Don't Buy The S*n
  • Ben8282Ben8282
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    _shel wrote: »
    But if it's statute barred none of that matters. He just needs to send a letter telling them that. https://www.nationaldebtline.org/EW/sampleletters/Pages/Time-has-run-out-to-recover-the-debt-%28sole-name%29.aspx

    Not a chance this company will have the original loan agreement after this long either.

    I agree with what you say.
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