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Hi,
I would be very grateful if someone could give me a little advice.
I took a loan out with A&L in 2006 for £15,000 and kept up re-payments until change of circumstances (out of work 5 months and then took job with much lower salary).
Initially A&L were pretty good as regards accepting reduced re-payments put have gradually demanded more despite me sending letters detailing my circumstances and offering pro-rata payments.
A&L issued a default notice, I think Nov/Dec 2009, I have it somewhere. About this time I got in touch with A&L regarding a miss-sold PPI policy that was attached to this loan.
A&L wrote back to me 22/12/2009 offering a refund plus interest of the PPI premiums, however they said this would be used to off-set the arrears on the loan. I wrote back to A&L to say I was unhappy with this as I think they should be separate agreements and one should not be used to off-set other. They sent me a letter back, more or less saying like it or lump it, and I didn't hear from them for over six months.
In August 2010, A&L sent me another default notice, after which I decided to sent a CCA request to check the validity of the agreement, basically thinking if there was something wrong with the PPI that was attached to the loan there could be a problem with the credit agreement.
After sending the CCA reminder they have sent what looks like a bona-fide photo copy. It says Fixed-Sum Loan Agreement between A&L and gives my name/address. It then says Key Financial Information and gives loan APR, amount of credit, monthly repayment amount, number of payments and total amount payable, under that gives same info about PPI and below that totals, on the back of this is my signature for both loan and PPI and a signature from A&L agent. There is a separate photo copy of term and conditions stapled to the loan agreement.
My question. Is there anything in what I have described that might allow me to challenge the validity or enforceability of the agreement.
Cheers, in anticipation Larkspur
I would be very grateful if someone could give me a little advice.
I took a loan out with A&L in 2006 for £15,000 and kept up re-payments until change of circumstances (out of work 5 months and then took job with much lower salary).
Initially A&L were pretty good as regards accepting reduced re-payments put have gradually demanded more despite me sending letters detailing my circumstances and offering pro-rata payments.
A&L issued a default notice, I think Nov/Dec 2009, I have it somewhere. About this time I got in touch with A&L regarding a miss-sold PPI policy that was attached to this loan.
A&L wrote back to me 22/12/2009 offering a refund plus interest of the PPI premiums, however they said this would be used to off-set the arrears on the loan. I wrote back to A&L to say I was unhappy with this as I think they should be separate agreements and one should not be used to off-set other. They sent me a letter back, more or less saying like it or lump it, and I didn't hear from them for over six months.
In August 2010, A&L sent me another default notice, after which I decided to sent a CCA request to check the validity of the agreement, basically thinking if there was something wrong with the PPI that was attached to the loan there could be a problem with the credit agreement.
After sending the CCA reminder they have sent what looks like a bona-fide photo copy. It says Fixed-Sum Loan Agreement between A&L and gives my name/address. It then says Key Financial Information and gives loan APR, amount of credit, monthly repayment amount, number of payments and total amount payable, under that gives same info about PPI and below that totals, on the back of this is my signature for both loan and PPI and a signature from A&L agent. There is a separate photo copy of term and conditions stapled to the loan agreement.
My question. Is there anything in what I have described that might allow me to challenge the validity or enforceability of the agreement.
Cheers, in anticipation Larkspur
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