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About riz96

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  1. Hi guys, Thanks for the great advice. I've just received a letter from Santander confirming that they are unable to locate a copy of the new loan agreement so they have agreed to waive the additional interest as a goodwill gesture. I'm still not satisfied because I believe I should have had a consumers right of choice to take out a loan with a bank of my choice. To be honest if I had known that Santander were taking over the loan I would have immediately paid off the loan. As they did not inform me that they were taking over the loan and also that they have now confirmed that they don't have any record of sending me a new loan agreement; Do you think I have any kind of legal case against Santander?
  2. Hi, I think they have T&C's but they don't have any record of sending it out to me. I tried to clear the account but they said I either had to pay the total sum including the early payment charge or to continue the monthly payments. I chose not to pay until I clear up the mess because I'm annoyed that they have taken over the loan without my knowledge. If I had known at the time they were taking over the loan and that the T&C's were changing I would have paid off the loan in full. Based on this do you think I have any legal standing against the loan company?
  3. I need advise please. I took out a 6 year repayment loan in April 2008 with ASDA Loans (GE Capital Bank Ltd) and it stated in the terms and condition that I could repay the balance at any time with out any penalty charge or early payment interest charge. However, during the course of the loan Santander took over the loan from GE Capital without my knowledge. The payments going out of my account were the same so I had no reason to believe any change had occured. It was only when I called them to clear the balance that I realised the loan had been taken over. They said that a letter had gone out to all former GE Capital customers offering them to either clear the balance or to continue the loan with them. The terms had also changed, in that if I wanted to clear the balance early I would have to pay early payment charge. After complaining to serveral members of staff I was finally put through to the complaints department. They said that although a letter had been sent out they did not have a copy on their system and offered £122 off the balance. Despite their offer they would still be charging me an early payment charge. My question is that due to the fact that I never received any corespondence from Santander and they have no record of sending it out, are they in breach of statutory duty. Should I not have had the opportunity to read the terms and condition and the opportunity to settle the loan early by finding another loan company with a more favorable terms. If I do have a case what should I do and what am I entitled to? Any advise would be greatly appreciated.
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