Cancellation after cooling off period

NanJan26

I took out a loan with a third party company after instructing papers to be drawn up for a Trust. I didn’t receive the paperwork for 25 days, 11 days after cooling off period had expired. When I read the trust papers with my son they weren’t what we had discussed at least 2 major items re ownership of trust and further charges if we move home. Both of these points were described in a different way. I decided to cancel the Trust. The loan company had already taken the first months instalment. Now the Trust company say I cannot cancel as 14 day period has past. However I had no reason to cancel as I had not received any paperwork from the Trust company. Can they do this?  I feel bullied and scammed. 

[Deleted User]

I'm no expert on this but wouldn't you have got the trust papers to examine online before you signed it all? Seems odd to sign for something without getting the terms?

NanJan26

Exactly! We were on a zoom call and was told, and it’s in their business services contract (received later) that they cannot start work until this loan agreement is signed. Alarm bells should have rung then but up to then all my questions were answered with reasonable replies. It wasn’t until paperwork received that the Trust papers were different to the questions I asked their reply in writing was different. I feel this company is unethical and out to scam the elderly. Is there any legal way in which I can cancel this loan?  Noticed yesterday that I haven’t received a copy of the loan agreement they said they sent me so emailed them. Today get a reply stating agreement attached. Paper clip there but not highlighted and won’t open.