Thread: Is it possible to cancel a loan aggreement?

Hello, First time iv posted a thread so hope its in the right area.

I have recently signed up for a loan to pay for a college course but was wrongfully told information to get me to aggree.

I was told that i was not signing to activate a loan but to simply aggree with Barclays partner company (anglo capital ltd) that they would contact me with info about the loan and when i wished to activate the loan.
Instead i received a letter saying my first payment is due 28th jan 2010 which i was rather shocked about.
I contacted the company and they said i can not cancel it because it has past the 5 day cancel period.
I have been had by a 'Hard Sale' and the college and bank are both saying there is no way to cancel.

Is there any hope for me on this one? Any rights i have to cancel???

Hope you can help...............

Originally Posted by robbie1985

Hello, First time iv posted a thread so hope its in the right area.

I have recently signed up for a loan to pay for a college course but was wrongfully told information to get me to aggree.

I was told that i was not signing to activate a loan but to simply aggree with Barclays partner company (anglo capital ltd) that they would contact me with info about the loan and when i wished to activate the loan.
Instead i received a letter saying my first payment is due 28th jan 2010 which i was rather shocked about.
I contacted the company and they said i can not cancel it because it has past the 5 day cancel period.
I have been had by a 'Hard Sale' and the college and bank are both saying there is no way to cancel.

Is there any hope for me on this one? Any rights i have to cancel???

Hope you can help...............

If you actually signed the Loan Agreement then you have 14 days to Cancel.

If you did not sign for the Loan Agreement then make a complaint to them saying that you never signed a Loan Agreement