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Personal Loan - Credit Agreement Form

AnddeiGuinea
Posts: 4 Newbie
in Loans
Good afternoon everyone. Just a quick question please.
This week I applied for a personal loan with Nationwide to be able to consolidate my other loans into one. The loan has been approved, money received and today I received the contract as well.
Together with the contract it was another page, stating the fact that the Credit Agreement it’s regulated by the Consumer Credit Act. Also it’s asking me to sign that form if I want to be legally bound by its terms (See attached picture).
This week I applied for a personal loan with Nationwide to be able to consolidate my other loans into one. The loan has been approved, money received and today I received the contract as well.
Together with the contract it was another page, stating the fact that the Credit Agreement it’s regulated by the Consumer Credit Act. Also it’s asking me to sign that form if I want to be legally bound by its terms (See attached picture).
What does this mean? Do I have to sign it?
I need to mention that English is not my first language and I’m not sure what “legally bound” refers to.
Many thanks in advance for your help. 



0
Comments
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That is your loan agreement, most probably just your copy of the paperwork, assuming you signed electronically.
Really hope you have changed your ways financially, so that you don`t end up in the same mess again, consolidation very rarely works out well for the debtor.
Not too late to decline the loan, go to the DFW forum, and ask for help to reduce your debt.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
A bit late to ask 'what it means' after you have signed the contract and received the loan...No free lunch, and no free laptop1
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As mentioned I think what you have received is your copy so no need to return it.
Legally bound by its terms means you agree to stick to the terms of the loan.
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