Hello,

I recently recieved my A & L cca request, its looks enforceable to me, Boo!

However, I have a question regarding the ' cooling off period ' of 14 days

that is not mentioned in the agreement or T&C's. I cant see it!

Is there any possibility that it could be unenforceable because of this ommission?

What are your thoughts,

Thank You

ps agreement to follow

Heres what A & L sent me.

I got your PM but I am not 100% sure with this. I think the cooling off period depends on the way the loan was obtained (i.e you went to the branch, cold calling etc). Someone else should be along to help you soon though.

I am wondering if the sentence

"This offer is available for 28 days from the date of the Alliance & Leicester signature "

could be construed as such ?

I will pop your link on to a couple of other threads that are more frequently visited by "those that know about these things" and they might be able to advise you more fully.

I agree with what has been said above......was this an online loan ? or in branch ? I would have thought that it would include cancellation rights but it wouldn't IMO be enough to make it unenforceable......was the default notice compliant ?

Hello SM!

Thanks for the PM.

I regret that Loans are not something I'm that up to speed on.

The above comments from the others are all valid and are good points to explore.

I can see they Signed the Agreement before you, so this Thread may be of some interest:

http://www.consumeractiongroup.co.uk/forum/general/144099-does-matter-when-creditor.html#post1514689

Key issues seem to be:

(1) Did they discuss the Loan with you before signing, i.e. within one of their Branches, or did they send out a Rep etc.

(2) Have they issued a Default Notice yet?

Cheers,

BRW

Thank you all for your comments, it is much appreciated.

I initiated this application over the phone, at no point did i visit a branch

and i signed the agreement at home then posted it back to A & L.

I have sent a subject access request recently in order to see whether or not a 'cooling off period' was offered to me after i signed their agreement.

"This offer is available for 28 days from the date of the Alliance & Leicester signature " could be construed as such ?

CitizenB - This is a good point you make, however I believe that as consumers we should see a clear and defined cancellation option.

Banker Rhymes, clemma - I only dicussed the loan over the phone and I was issued a default notice in March 2008, also I have been paying a agreed reduced monthly amount with A & L.

42man - I will check the SAR to see if the default notice was compliant.

In general I realize the agreement looks enforceable, however there does seem to be a question as to whether it is a cancellable agreement as defined in CCA 1974, and if so, should it not be made clear as to our right to cancel within the agreement and or the terms and conditions.

I may be clutching at straws here, so your advice is taken on board.

All the best to you all.

San Martino

Hi

I am still waiting for my SAR.

Was wondering if any one had any further thoughts on this.

Thanks

Hi, just picked this one up. We had an A&L loan with the same paperwork as above. Also questioned themn about the no right to cancel box and after 6 weeks of 'investigating our concerns' came back with a load of gumpf about Distance Marketing Regulations stating they did not need to provide cancellation rights.

Nonsense I thought. This loan was dealt with via post and at no time were any face to face discussions had, no branch visits etc. Went back to them over a year ago now stating we weren't happy with their response and ended up with two seperate letters from an A&L representative stating that she 'would not be entering into any further communication about this matter as it is inappropriate'.

Quite how discussing a legitimate query with a customer is 'inappropriate' I have no idea. We stopped paying making it clear we'd recommence once happy and we've heard nothing from them for around 13 months now. Interestingly I don't think they've even bothered to send a statement of account through either.

We also questionned the APR calculations asking them to provide a working out of how they had calculated the various rates. I'd been reading up on the great APR [problem] and was interested to read that many finance organisations and banks had used this in the past to generate extra sums. A&L had a great deal of difficulty providing these, asked why we wanted them etc before finally sending a letter with a series of equations and formulae on that made little sense to me.

When we'd asked for a detailed setting out of the calculations relating to our specific finance agreement it was entirely unhelpful to simply get sent a sample calculation with figures on that were wildly different to our own. No help at all and this I took to be a partially deliberate attempt to shut us up. Is it really too much to ask a finance organisation to supply the details applicable to our account? I thought not.

Anyway, that's our story, A&L couldn't have been less helpful and the tone of some of their letters was pretty aggressive. All I wanted was the details for the loan, hardly unreasonable. So, nothing heard from them for ages, no idea what they'll eventually do. Will update if anything happens.

Any further dealings with A&L San? Ive just compared my app and t&c with yours and its identical - its even signed by the same A&L person so im interested in this. I am about to start my own thread though,

Madge

Hi. I too have received such a Fixed Sum loan agreement which is exactly the same as the OP. Mine also has no cooling off period, A&L signed the agreement before myself with the footnote "This offer is valid for 28 days from the date of the Alliance & Leicester signature"

This agreement was posted to me, pre-signed, for me to sign and return via post. The loan was taken out on the Internet.

The only difference is on page 1, A&L also charged me Personal Loan Protection which I did not sign for.

Also there are some key prescribed terms missing regarding repayments;

Frequency and timing of repayments;

Dates of repayments;

The manner in which any of the above may be determined; or in any other way, and any power of the creditor to vary what is payable.

I'm now having to deal with a DCA. Any advice?

Have you made A & L aware of the missold PPI ?

Not as yet. It would also appear the so called debt defaulted 6 years ago this month too.

I know it is a few years ago but how did you get on with the cancellation box or the option to cancel not being there