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Implications of unfair relationship in amended Consumer Act
I first became aware that my ex-partner had defaulted on a loan in July 2005(he defaulted in May 2004 when he left the country). We have a minute of agreement stating that he will take responsibility but as it was in joint names, unfortunately, I ultimately became responsible for said loan and had to pay it off.
My question is this – my ex took out this crazy loan that I stupidly signed up to. It was for £4,800 and to be paid in monthly instalments of £125.87 over 10 years, £15104.4 in full.
I settled to pay £1,600 in Full and final payment against an outstanding loan of £2,137. Which HFC later confirmed would be considered the default to be satisfied in full.
The loan was originally with Forward Trust and subsequently assigned to HFC Bank in July 2001.
Do I have any recourse against the unfair relationship clause in the amended Consumer Act 2008?
That and the fact that for the second time I have been refused a job as my credit history records a default, as a result of this. I split with my ex in 1997, signing over our house to him. I assumed the Minute of Agreement absolved me from this loan but this proved not to be the case.
I’ll carry this for another 2 years - should be slightly longer as I paid off the loan in July 2005 but my credit record states it was paid in November 2004. So it’s not quite an accurate reflection of the account…
I have my fingers crossed – it’s all so grossly and frankly immorally unfair
Implications of unfair relationship in amended Consumer Act
payment against an outstanding loan of £2,137. Which HFC later confirmed would be considered the default to be satisfied in full.
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