What are the chances?

X-man

I wasn’t there when this loan was given, so can’t really comment on whether they knew my father was terminally ill or not. All I know is that a gentleman from British Gas turned up at my parents house in August 2007 with a cheque for £8K and some forms to sign. My father asked my mum to sign the form as well and re-assured her that everything would be ok. He died less than one month afterwards.

I have been dealing with mums finances since this happened but mum has always been adamant that my father shouldn’t have been given the loan. I have always took the stance, that as she signed the form, the terms are clear, so there really isn’t a get out.

Mum could not afford to repay the loan, which has been passed on to various DCA’s and she has had nothing but stress and grief from them, so I offered the DCA a settlement figure which I can just about afford.

After going through the paperwork in detail, I spotted the anomaly with the signature and wondered if I had a valid case to refute the loan.

I don’t want sympathy, nor am I trying to wriggle out of paying. I’m wondering if I should actually be paying at all. The way I see it, is that my mother hasn’t actually signed on the dotted line for the loan and therefore isn’t liable. If she is liable, I will pay it – simple as that really.

poppyg_2

Yes that's right if British Gas weren't aware of the illness of your father then I shouldn't imagine you do have any choice but to pay the settlement you have agreed which I see you are willing to do but if British Gas have taken advantage then a solicitor definitely needs to be contacted for advice i think

kel123_2

with sympathy to and your mother x-man

But sympathy as to include morals and plenty on here know that banks and DCA's have no morals so you have to deal with these people purely level headed and business like. I would question the legality of your parents loan being agreed. It is my understanding that to be able to sell a loan in someones property you need to be licenced and they should have picked up that your father may not have been acting normally (probably why they wanted your mothers sig) also how was they paying it back, was it based on their income and expenditure. To sell finance knowing that they cannot pay it back is against legislation.

Again with sympathy to you and your mother but I think your next step is to have the agreement checked out and perhaps having a word with the National Dept line and Trading standards

Kel
Remember injustice is injustice only some people refuse to see it

quantumleap

X-man, the reality is that you've got two opposing views on the topic. One is that it is of course reasonable for you to attempt to help your mum, particularly after such a tragic loss. Therefore if you can get this loan made void for any reason then you should.

There is also the view that you should not attempt to side step the lender particularly if the fault lay with your father.

The only advice I can give is that you must do what is right for you and your family and I wish you well. The only view that matters is that of your legal people and british gas, so you need to speak with them.

Incisor, as I've said all along, I understand and appreciate the point you've been attempting to make, I just think you could have shown much more tact as some of your comments were very dismissive of the fact that the OP had lost their father recently - and I'm sure most would agree that 9 months still qualifies as a recent loss.

kel123_2

incisor

When I first started on my quest to become debt free, my knowledge of how things actually worked was zero. I lived in a world that said the experts know best and have my interests at heart. I now know better, i've learnt fast and I am beginning to turn the tables so to speak. The first thing I learnt was that they are out to make money - my money by what ever means posible. Do you think that the original OP may be in the same position but learning fast to protect his family?

A question to you? If I gave you a cheque which was signed at the top, not in the space provided would you accept it? then ask yourself would a bank accept it?

rog2

X-man wrote: »

All I know is that a gentleman from British Gas turned up at my parents house in August 2007 with a cheque for £8K and some forms to sign. My father asked my mum to sign the form as well and re-assured her that everything would be ok. He died less than one month afterwards.
If she is liable, I will pay it – simple as that really.

I have to admit, X-man, that I was unaware that BritishGas offered 'Personal Loans'

Was the 'Loan' tied to any agreement, for example home impovement/insulation/heating et
Was 'Life Cover' given, or even offered, with the 'Loan'?

I certainly think that it would be worth your while contacting National Debtline - 0808 808 4000, or CCCS - 0800 138 111 1111 to discuss whether this agreement is legally enforceable, or even if there was an element of 'mis-selling' on behalf of British Gas.

kel123_2

Incisor

Please start a new thread and I will debate your comments and attitude with you

rog2

Incisor wrote: »

In this case, it would be British Gas who get to say where the proper place is for the signature.

Providing, of course that the form on which the signature is requested constitutes a properly enforceable consumer credit agreement, and that the signature is not requested in any place where it could be seen to absolve the creditor of any of their obligations under the Consumer Credit Act, 1974.

Independent and professional 'Expert Advice' can be obtained from any of the debt counselling charities, none of whom operate under the principle of "What's in it for me?"

If ever there was a proper place to make any argument about mis-selling, then this is certainly it.

tyllwyd

The wording seems a bit strange to me - I guess that the loan company intended the customer to sign next to 'signature' and to print his name and address next to 'customer'.

It doesn't seem clear from what you've said whether the loan was intended to be a joint loan, and whether your mother understood that she was signing a loan agreement, especially since her name & address isn't printed on the document. She might even have thought that she was just witnessing her husband's signature. I don't know whether that would make any difference in practice, but it might be worth asking someone like CAB.


BTW about signing a cheque - I thought that it didn't matter where you signed the cheque, it would techically still be valid. Whether or not your local bank accepted it would be another question.

kel123_2

Correct Tyllwyd