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About christine63

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  1. Is the right to cancel box a prescribed term within the agreement? Does the lack of cancellation rights (or no details sent within 7 days) on an agreement mean the Agreement is unenforceable? Assuming the above were not signed on the creditors premises Thanks
  2. So when the statement on the agreement is "The rate of Interest is 7.9%" this is correct?
  3. Sorry, I have misinformed- I have already taken out this new loan and defaulted on it. It was taken out in 2005. The loan was to replace an existing loan with Northern Rock taken out in 2004. I believe the original loan had a probem with paperwork I believe it did not contain PPI The replacement loan reayed the existing in full but they added PPI as standard without discussing with me This new loan is executed correctly (i think), but the original one was not. I heard that this could make the two agreements linked or multiple? Any advise welcome
  4. Hi, I was contacted by my loan company to suggest I gaet another loan from them to pay off the existing loan with them. They are now taking court action as I cant pay it. Are there any rules about getting credit to pay off credit with the same company as I am sure the original was not not executed correctly and I believe that is why the company asked me to get the new loan. Also I was pressured to sign the new loan and fax it to them rather than post it to sped up the process. I even have the name of the person to fax it to on the executed agreement. Any legal issues here that will help me?
  5. Wow, that looks complicated, dont understand it. However, if your saying the actual interest rate is 7.5% something and the prescribed rate of interest is stated as 7.9%, then surely this makes the agreement unenforceable? I am confused though because with no compounding or extra cost within the loan shouldnt the APR and Interest rate be the same?
  6. Do you know the formula to cacluate it as nothing I find on the internet gets to the same repayments at a rate of interest of 7.9%? The APR of 7.9% gets close and as this is rounded up is probably correct The terms mentioned in the agreement under KEY information are not legible as they are not represented within the agreement. There is also " your right to cancel" missing from the agreement Thanks in advance
  7. Why does the total charge and monthly repayments not correspond to the interest rate quoted? Where are the trems it refers to? Is this legit?
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