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    • GSP
    • By GSP 15th Apr 18, 8:47 PM
    • 181Posts
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    GSP
    Loan Letter Signature Legal Question
    • #1
    • 15th Apr 18, 8:47 PM
    Loan Letter Signature Legal Question 15th Apr 18 at 8:47 PM
    Something someone may know answer to.
    From literature received on letter for loans, applications or authorised, say if the signature and name of the person on the letter wasn't actually employed anymore by that institution.
    Can imagine a number of businesses have automated processes where letters are distributed with the signature of someone who actually does not see them, but I suppose to the receiver it has to come from someone.
    In the case of certain organisations however, does it seem that the signature is more important to have.
    In the case of loans while the process is automated, legally, granting money from someone who supposedly works there but doesn't seems wrong. Its not mis-selling but I don't know it seems falseand wrong using someone's name who isn't there anymore.
    Any thoughts?
Page 1
    • zx81
    • By zx81 15th Apr 18, 8:51 PM
    • 16,444 Posts
    • 17,498 Thanks
    zx81
    • #2
    • 15th Apr 18, 8:51 PM
    • #2
    • 15th Apr 18, 8:51 PM
    It's not a problem.

    The money is lent by the business, not an individual employee.

    No need to worry about it.
    • jonesMUFCforever
    • By jonesMUFCforever 16th Apr 18, 2:31 AM
    • 24,659 Posts
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    jonesMUFCforever
    • #3
    • 16th Apr 18, 2:31 AM
    • #3
    • 16th Apr 18, 2:31 AM
    Just asking here ---------- do you have a loan with anybody?
    How would you know if someone was an employee or not - who cares anyway?
    If this is leading to a technical legal claim resulting in a loan being written off - forget it you stand no chance.
    What goes around - comes around
    give lots and you will always receive lots
    • GSP
    • By GSP 16th Apr 18, 9:20 AM
    • 181 Posts
    • 41 Thanks
    GSP
    • #4
    • 16th Apr 18, 9:20 AM
    • #4
    • 16th Apr 18, 9:20 AM
    No loans.
    Just a question really around legality and the production of an automated signature on a letter of someone who actually left the company at least two years earlier.
    Okay, of course the money is lent by the business. But how important is it that the signature is true in the sense that it belongs to someone employed there or not.
    Can institutions just make up on a name on an automated signature. The signature must be there for a legal reason perhaps, or is it just for the personal touch for the receiver.
    Maybe something maybe nothing.
    • zx81
    • By zx81 16th Apr 18, 9:23 AM
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    zx81
    • #5
    • 16th Apr 18, 9:23 AM
    • #5
    • 16th Apr 18, 9:23 AM
    It's purely to give a human face to the company. Many don't bother, which is also ok.
    • Brock_and_Roll
    • By Brock_and_Roll 16th Apr 18, 9:32 AM
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    Brock_and_Roll
    • #6
    • 16th Apr 18, 9:32 AM
    • #6
    • 16th Apr 18, 9:32 AM
    Some companies deliberately use made up names to protect their own employees being tracked down on FB etc and harassed by customers that have an axe to grind.
    • GSP
    • By GSP 16th Apr 18, 10:25 AM
    • 181 Posts
    • 41 Thanks
    GSP
    • #7
    • 16th Apr 18, 10:25 AM
    • #7
    • 16th Apr 18, 10:25 AM
    Still seems strange to me as it is a signed document. Thought that something with someone's signature carried some form of legal weight. Why do we sign things. Different purposes sometimes I assume. If the something on there was not factually true and known from the creator seems wrong to me, to protect employees or not.
    Nothing to gain here, just my curiosity about the actual worth of a signature as thought it was legally binding in some way.
    If something goes wrong in any institution and there is a query from a letter from somebody who does not exist, whose to say what the company could hide behind.
    • eddddy
    • By eddddy 16th Apr 18, 11:15 AM
    • 6,140 Posts
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    eddddy
    • #8
    • 16th Apr 18, 11:15 AM
    • #8
    • 16th Apr 18, 11:15 AM
    Thought that something with someone's signature carried some form of legal weight.
    Originally posted by GSP
    Not really. A signature isn't required for most legal agreements/contracts. (But, for example, land/property contracts require a signature - because Property Law has special requirements.)

    You can enter into contracts (e.g. like loan/credit agreements) by phone or online without either party signing anything.

    Why do we sign things.
    Originally posted by GSP
    It provides stronger evidence that you've seen a document/ contract, if you've signed it. So it might be helpful if a dispute arises.

    But a party can still argue that a signature isn't really theirs.

    If the something on there was not factually true and known from the creator seems wrong to me...

    <snip>
    Originally posted by GSP
    Is this just a hypothetical/philosophical question, or do you have a specific concern about something?
    • ReadingTim
    • By ReadingTim 16th Apr 18, 12:26 PM
    • 2,561 Posts
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    ReadingTim
    • #9
    • 16th Apr 18, 12:26 PM
    • #9
    • 16th Apr 18, 12:26 PM
    Whatever the question is, the answer is not, and will never be, "it means you don't have to repay the money"
    • GSP
    • By GSP 16th Apr 18, 7:12 PM
    • 181 Posts
    • 41 Thanks
    GSP
    On the contrary ReadingTim.
    I have no loans and I'm debt free. I have nothing to gain.
    This is all about some knowledge where I was aware, well you read it above without me repeating.
    I believe ALL material should be accurate where possible.
    • zx81
    • By zx81 16th Apr 18, 7:29 PM
    • 16,444 Posts
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    zx81
    If something goes wrong in any institution and there is a query from a letter from somebody who does not exist, whose to say what the company could hide behind.
    Originally posted by GSP
    Nothing. .
    • PeacefulWaters
    • By PeacefulWaters 17th Apr 18, 12:38 AM
    • 8,254 Posts
    • 10,527 Thanks
    PeacefulWaters
    On the contrary ReadingTim.
    I have no loans and I'm debt free. I have nothing to gain.
    This is all about some knowledge where I was aware, well you read it above without me repeating.
    I believe ALL material should be accurate where possible.
    Originally posted by GSP
    Do you have an example of it happening?
    • GSP
    • By GSP 17th Apr 18, 8:36 AM
    • 181 Posts
    • 41 Thanks
    GSP
    Just to say I was aware.
    • poppasmurf_bewdley
    • By poppasmurf_bewdley 17th Apr 18, 11:23 AM
    • 5,174 Posts
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    poppasmurf_bewdley
    Do you mean like Reader's Digest, who used to sign letters about their draws from someone called Tom Champagne?
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
    • zx81
    • By zx81 17th Apr 18, 11:26 AM
    • 16,444 Posts
    • 17,498 Thanks
    zx81
    Mr Champagne, was in fact, a genuine person, though most people thought he was made up.

    https://www.telegraph.co.uk/news/obituaries/10067180/Tom-Champagne.html

    His successor, Tom Halfalager, did not fare so well.
    • ReadingTim
    • By ReadingTim 17th Apr 18, 12:37 PM
    • 2,561 Posts
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    ReadingTim
    On the contrary ReadingTim.
    I have no loans and I'm debt free. I have nothing to gain.
    This is all about some knowledge where I was aware, well you read it above without me repeating.
    I believe ALL material should be accurate where possible.
    Originally posted by GSP
    Good for you. Often however, those with such a suddenly developed and acute sense of accuracy and attention to such minor procedural or administrative details have, shall we say, less altruistic motives.
    • Alderbank
    • By Alderbank 17th Apr 18, 1:55 PM
    • 97 Posts
    • 93 Thanks
    Alderbank
    Do you mean like Reader's Digest, who used to sign letters about their draws from someone called Tom Champagne?
    Originally posted by poppasmurf_bewdley
    Or perhaps you mean like Wonga who until 2010 were partial to sending defaulting customers threatening letters signed by totally made-up solicitors?

    Apparently this was not illegal but the FCA took a dim view, particularly as recipients were charged real solicitors' fees!
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