Guarantor loan from over 20yrs ago
Spaniel1978
Posts: 3 Newbie
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
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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Comments
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*relevant documentation not Reagan’s...0
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The pertinent question is when was the loan last acknowledged.0
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Have you been paying this loan the whole time? When did you stop Paying?0
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The debt is yours not your guarantors.
You appear to keep acknowledging the debt by replying to the debt holderFew 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.0 -
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 bump0
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If you havent acknowledged the debt for over 6 years then it may well be statue barred.0
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Spaniel1978 wrote: »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.0 -
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?0 -
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.0 -
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.0
This discussion has been closed.
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