Late wife's commercial loan problem

[Streetwise]

Re: Late wife's commercial loan problem

Can you say how different the agreements are, or how you think it is forged?

You say it is a business loan, but was it a loan to the business - Mrs Streetwise & Co - or was it to individuals, your partner and her business partner? Who now owns the business?

Do any of the agreements say what will happen if one of the partners defaults or is unable to continue with agreement? For instance, as your partner has died, does that not mean that her business partner is now reponsible for the remainder of the loan?

What input is your partners business partner having? Is any of his/her property been placed as part of any guarantee? Is he/she keeping up with the payments?

I know you have tried the SAR route, which the bank has tried to block, but have you got any further with that?

Alan

Hi Alan,Everybody who has looked at the loan agreement say its a forgery there is absolutely no doubt.

The agreement says that if a partner dies,its a default.

The partner owns no property except his 50% share in these properties.

The bank has only allowed me the forged loan agreement under the SAR.

This loan was due for repayment in March 2010,but was not renegotiated.My partner was still in charge of her affairs at this time.

Thanks for your input.

[alangee]

Re: Late wife's commercial loan problem

Can you say how different the agreements are, or how you think it is forged?

You say it is a business loan, but was it a loan to the business - Mrs Streetwise & Co - or was it to individuals, your partner and her business partner? Who now owns the business?

Do any of the agreements say what will happen if one of the partners defaults or is unable to continue with agreement? For instance, as your partner has died, does that not mean that her business partner is now reponsible for the remainder of the loan?

What input is your partners business partner having? Is any of his/her property been placed as part of any guarantee? Is he/she keeping up with the payments?

I know you have tried the SAR route, which the bank has tried to block, but have you got any further with that?

Alan

[Streetwise]

Re: Late wife's commercial loan problem

Streetwise

Is this a joint loan with your partners business partner? I seem to remember that in a post on another site, you said that it was.

Alan

Yes its a joint loan,I am trying to find where we stand with this forged loan agreement, have had good advice on other sites but nobody has been able to say where we stand with the forged agreement,and what it means if the bank don't have the original agreement no straight answers,thanks for any help that can be given.

[alangee]

Re: Late wife's commercial loan problem

Streetwise

Is this a joint loan with your partners business partner? I seem to remember that in a post on another site, you said that it was.

Alan

[Streetwise]

Re: CPUTR 2008 Thread

Remember the links above are the enacted versions (ie originals) - they've changed somewhat (ie it's no longer capped at £5k) ---> Consumer Credit Act 1974

Just remove the word enacted at the end of the other links to see the most recent version.

Is this a business loan? If not then this would not be exempt and should bear the cca regulated header.

This is a business loan,but it has the family home as a guarantor,second charge on family home in favor of the bank,myself and my two sons still live in it and my wife left it in shares to me and my two boys in her will,I say wife but we were not married,big mess.Thanks for your help.

[Never-In-Doubt]

Re: Late wife's commercial loan problem

I've moved the posts into its own thread as it was confusing the CPUTR thread.

Niddy :niddy

[Never-In-Doubt]

Re: CPUTR 2008 Thread

Could someone tell me if this can be used for a loan agreement,a commercial loan agreement, I am the executor of my late partners estate and the bank have forged a copy of the loan agreement saying it is an original certified agreement but it is not, as I have the original and the two documents are totally different,the head office of the bank say there is no agreement on file,but the bank manager keeps sending me the forgery,regards Streetwise.

Sorry - just to clarify - it is a commercial loan thus it doesn't need to have the regulation at the top. Plus it's likely to be cca1974 exempt.

I explained all this above. ^^^^^^

It might be an idea (streetwise) to PM Paul.

See what he says?

[Never-In-Doubt]

Re: CPUTR 2008 Thread

Remember the links above are the enacted versions (ie originals) - they've changed somewhat (ie it's no longer capped at £5k) ---> Consumer Credit Act 1974

Just remove the word enacted at the end of the other links to see the most recent version.

Is this a business loan? If not then this would not be exempt and should bear the cca regulated header.

[charitynjw]

Re: CPUTR 2008 Thread

Hi,

I remember reading somewhere that just because the agreement doesn't mention the CCA 1974, doesn't necessarily mean it is not a regulated agreement.

Definition of Consumer Credit Agreements
http://www.legislation.gov.uk/ukpga/...tion/8/enacted

Exempt agreements
http://www.legislation.gov.uk/ukpga/...ion/16/enacted

"individual" includes a partnership or other unincorporated body of persons not consisting entirely of bodies corporate;
http://www.legislation.gov.uk/ukpga/...on/189/enacted

Original 1974 version of CCA, as agreement signed Feb 2007.

I think that the later CCA 2006 required a statutory declaration [ The Consumer Credit (Exempt Agreements) Order 2007 Schedule 3] for business purposes.

I'm certainly nowhere near as knowledgeable as the other guys & girls here, so please don't take this as gospel.

[Streetwise]

Re: CPUTR 2008 Thread

What was his response when he saw yours?.... Was it verbal or in writing?

It was verbal,he said that it was just the way that the date had been written that was wrong, but that is not the case it was the 10 of September 2011 when he gave me a copy of the document and I emailed him on the 11 of September 2011 and asked him how there was two agreements I still have not had a reply to this Question and neither has my M.P.,I wrote to the head office on the 10th of March 2012 last week asking them to supply with a copy of the agreement as they had written to me before saying they could not find an agreement on file,I am still awaiting a reply to this letter, the loan is due for its quarterly payment at the end of this month and I think I should default on it to see what happens then,regards Streetwise.

[PriorityOne]

Re: CPUTR 2008 Thread

I get you,But my partner had been asking the bank for the copy of the loan agreement for over a year before she died and they would not supply one,an agreement only turned up after they were told that she was terminally ill and could not handle her affairs any more (Brain Tumor),I asked my M.P.to ask them were this loan agreement came from and they told her that they did not have a loan agreement on file,but as I said before the bank manager still insists that the loan agreement that he keeps sending me is genuine,but I've showed him it doesn't match the agreement that I have on file,so I suppose I am asking what happens if they don't have the loan agreement,where will I stand with winding up the estate,

What was his response when he saw yours?.... Was it verbal or in writing?

[Streetwise]

Re: CPUTR 2008 Thread

Email sent to Paul.

Thank you.

[Never-In-Doubt]

Re: CPUTR 2008 Thread

Email sent to Paul.

[Never-In-Doubt]

Re: CPUTR 2008 Thread

I see where you're coming from now. Ideally you need probate help - ill ask Paul to pop in and give his views on the agreement aspect.

Sit tight :niddy

[Streetwise]

Re: CPUTR 2008 Thread

ermmmm (see last post).

if its nothing to do with the CCA then of course you cannot utilise the CCA within any argument can you? Kinda like you complaining about being sold a dud car (sale of goods etc) and quoting family law (divorces etc) -

I get you,But my partner had been asking the bank for the copy of the loan agreement for over a year before she died and they would not supply one,an agreement only turned up after they were told that she was terminally ill and could not handle her affairs any more (Brain Tumor),I asked my M.P.to ask them were this loan agreement came from and they told her that they did not have a loan agreement on file,but as I said before the bank manager still insists that the loan agreement that he keeps sending me is genuine,but I've showed him it doesn't match the agreement that I have on file,so I suppose I am asking what happens if they don't have the loan agreement,where will I stand with winding up the estate,