Consumer Credit Agreement question.

[Tigerbaby]

:???:HELP, I need an EXPERT in the consumer credit act!

Signed a course agreement with the Instructor College in 2006. The lady conducting the introduction (secretary) arranged a one year interest-free loan covering the course fees provided by Clydesdale Finance on the same day. She urged me to sign there and then because this was "a special offer due to promotion". About 8 months into the course, I sustained RSI as a consequence of instructions given and asked for a refund as I couldn't continue. This was refused. I did some research on the web and discovered that TIC is owned by LVG Ltd operating on different premises. Also, when I signed the course/loan agreement TIC's consumer credit license had expired and they hadn't applied for extension.

Now, question (1):

Can ANY employee (not trained/registered as a finacial advisor) of company (A=TIC) owned by company (B=LVG) sell a loan provided by company (C=Clydesdale) on the premises of company (A) without a representative of company © present? Would company (A) need its own consumer credit license especially if it doesn't provide the information that it's owned by another company?

Question (2): Wouldn't TIC have been obliged to grant me a 7 day cooling off period during which to take the respective documents off their premises and seek independent advice if so desired before asking me to sign them?

I'm running in circles as I don't have a clue which part of the consumer credit act applies to this situation and these "friendly people" have maneuvered me into a tight spot.

Your expert advice will be highly appreciated.

[Guest Old_andrew2018]

bump

[Tigerbaby]

Could you please elaborate on that?

[IdaInFife]

I think your agreement would be covered with a CCA request and there should be a section on it about terminating the agreement.

 

Do you have a copy?

 

If not send a cca request to get one

 

Consumer Credit Act template - Consumer Wiki

 

Someone will be along a credit lisc etc

 

Idax

[Tigerbaby]

TIC had acted as a broker and when they refused me a refund due to the injury, I didn't repay any of the loan they had arranged with Clydesdale Finance but went to a solicitor. He didn't have any joy as both TIC and Clydesdale ignored his attempts at correspondence. After a couple of months, he closed the file and lo and behold, about two weeks later he received a letter from LVG Ltd's director who contested every point my solicitor had made and concluded that he'd consider giving me a refund if I surrender my driving license. Clydesdale had the cheek to claim that the loan had nothing to do with TIC and the course even though the £ 3000 had gone directly to TIC's account. I then wrote several letters to Clydesdale asking them what I'd have to pay to settle the debt of originally £ 3000. In their first reponse, they asked for £ 5189.65 to which I replied that I find it excessive. In their next letter, they asked for £ 5203.84 and again, I replied that I find it excessive. Then, they sold the debt to Barclays who asked for £ 6318.36 minus £ 1081.90 if I pay by 1/1/08. I ignored them completely, didn't hear anything more until 1/5/08 when CapQuest sent me a letter informing me that they'd now bought the debt from Barclays. I sent them a cca request on 26/6 and got three letters from them, pretty much indicating that they haven't got the loan agreement. I've got another thread on this forum, "Help - I'm having major problems with CapQuest", where I've quoted the letters.

I very much doubt that TIC could act as a broker from their premises and under their name without having a valid consumer credit license.

How can I attach the agreement (course & loan?) to this site? Is it the "insert image" icon?

Tried trading standards but they appeared at a complete loss with the case (not all that interested).

As for terminating both course and loan agreement, that's what my solicitor had tried.

 

What now???

[Fedupandfightingback]

You can post a copy of your agreement using an image hosting site such as photobucket, registration is free.

[Tigerbaby]

 

Well, I've saved the relevant pages in photobucket, clicked on the "insert image" icon and typed in the URL.

Don't know though if and how you can retrieve the image (5 pages)???

Or, should I have done something different???

[creditcardmug]

Click on the image, look to the right, 4 links , copy the last one, in your thread paste Voila!

[Tigerbaby]

 

Well, that's the course agreement with TIC. I've copied the image from photobucket and pasted it here but it's too small to make out anything. Is there any way to enlarge it???

[creditcardmug]

In photobucket double click the image a new window opens with bigger image, try that

[Tigerbaby]

 

That's the ticket!

 

Okay, I'll e-mail the four pages of the loan agreement TIC bokered with Clydesdale Finance.

[Tigerbaby]

 

Loan agreement, page 1

[Tigerbaby]

 

Loan agreement, page 2

[Tigerbaby]

 

Loan agreement, page 3

[Tigerbaby]

 

Loan agreement, page 4

[Tigerbaby]

Could anyone please comment on these agreements?

Especially, how come that TIC aren't regulated by some government organisation despite the fact that they broker financial products???