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  • #1

    Advice for a friends unlawful loan

    Friend of mine, was told by his bank about 6 years ago to consolidate his credit cards in to a loan. They advised him of repayments and the term, but he never signed a loan agreement.

    After 4 years, when he thought he had paid it all back, the bank rang him and said, the loan is still running and you owe another 3 years, they tried telling him the loan was over 7 not 4 years, he argued he would never have agreed to that, and sent a CCA Request.


    He heard nothing from the bank for about 3 years until this week Wescott have contacted him, saying he owes around 8k in interest and charges LOL


    He has since sent westcott a letter basically sayin the bank are in default of the CCA request for the last 3 years.

    Whats the score with loans taken to consolidate debt without a written agreement?

    Can he claim anything back hes paid?
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.
    Tags: advice, apr, bank, card, cards, cca, cca request, charges, claim, court, credit, credit cards, debt, default, figures, fos, friends, game, interest, letter, loan, loans, money, niddy, paid, payments, phone, rights, sar, unlawful
  • #2
    Re: Advice for a friends unlawful loan

    I assume that he has no paperwork at all, on this ??

    Also just to look at the figures can he remember what his payments where and how much did he borrow???

    Comment

    • #3
      Re: Advice for a friends unlawful loan

      He has no paperwork, he remembers what he paid each month for 4 years yeah.

      And he may remember the total consolidated amount, ill have to check.

      If theres anything else you need to know, let me know and ill ask him.
      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

      Comment

      • #4
        Re: Advice for a friends unlawful loan

        Unfortunately you have little rights here - unless he can prove that he was missold then unlikely there is any recourse available.

        Personally, I'd just play the CCA game as it'll be SB'd in a couple of years (or sooner?) anyway - just send a new CCA to Wescot - we KNOW all they can do is add a default and/or provide a recon, wow - so what!

        But no, nothing much he can do unless he has proof from the time that proves the loan made his more worse off than the card, so if the card was 6% APR and the loan was say 9.9% then obviously, he'd be stoopid to swap so could 'prove' to the FOS that it was not the correct thing to do.

        If he cannot provide or does not have this info to hand then there is little he can do.
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

        Comment

        • #5
          Re: Advice for a friends unlawful loan

          They are unlikely to go to court without paperwork and would be very stupid if they did as it is the first thing a judge would want to see so I'd follow niddy's very good advice.

          Remember if they were to produce a reconstituted agreement it would have to be drawn up with the info they have available to them and cannot just be put together out of thin air.

          On this basis I am wondering if a SAR is worthwhile to see what they do have maybe worth asking Nid.

          Comment

          • #6
            Re: Advice for a friends unlawful loan

            Thanks for the advise guys, i told him i find it very strange how the bank backed down and didnt hear from them again as soon as he CCA'd them, he said the guy on the phone when discussing the payment term was abit um and aring at him, and hes excuses for why he owed another 3 years just didnt sound quite right. Sounds to me like they realised what a cock up they made and was blagging it.

            I told him before posting here, that it was unlikely hed get any money back, and i said his best bet was to go down the UE route in regards to their non compliance of the CCA Request.

            Im glad i was spot on with that, im learning something!
            Last edited by SXGuy; 18 April 2012, 10:09.
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

            Comment

            • #7
              Re: Advice for a friends unlawful loan

              Originally posted by pompeyfaith View Post
              On this basis I am wondering if a SAR is worthwhile to see what they do have maybe worth asking Nid.
              No chance, not on this - I would not worry too much about it and sit out SB, personally
              I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

              If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

              Comment

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