Unenforceable loan agreement
Hi Guys,
I am new to this forum so forgive me if I do something stupid.
I took out a loan with Debtbuster loans for £18000 in 2001. I was ill when I took out the loan so didn't do the maths that I should have at the time. I have now paid back £10000 more than I originally borrowed and still have about 8 years of repayments to go. In the end I shall have paid back more than £50000.
The copy of the ageement that I have makes no mention of the final amount that I will have paid and, although the loan is taken out jointly by my wife and myself, it is not signed by her.
I believe that this loan is not enforceable for these reasons, if no other, but am not sure how to proceed. I have written to the loan company enclosing a cheque for £1, asking them for a copy of the original agreement and as I understand it, they have 12 working days to send this back to me.
What do I do when they send me back the agreement? and what do I do if they don't?
Many thanks to anyone who can help me.
BFJ58
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