Never signed agreement! ** WON**

[mike77]

Hello there, i was wondering if anyone could offer me any advice. I took out a loan with hsbc march05 for around £8k, in may05 i took out a further loan to pay the 1st loan off, In july06 i was provided with a managed loan of £**** to repay my second loan as i was struggling with the payments. i never signed any agreement for the managed loan. because of this my debt was somehow "lost in the system", and only when my account went overdrawn around 12 months later did the bank finally see no payments were ever requested from me. they defaulted this managed loan in feb08. it was passed to metropolitan. i have made five payments to them but then contacted the financial ombudsmen who issued a complaint on my behalf. i have received a response just outlining when my loans were. I have now written a letter to the bank asking they send me a signed copy of the managed loan agreement. I NEVER SIGNED ONE! does anyone know where i stand on this and what i should do?

Michael

Edited November 18, 2008 by mike77
to alter or hide exact amounts so as to hide my identity!, im sure banks read these posts!

[rory32]

If you didn't sign an agreement then the account is unenforceable.

[mike77]

Thanks for reply rory, do you have any idea how i would go about getting rid of this debt and getting my default removed?

Edited October 30, 2008 by mike77
spelling mistake (im a bit of a stickler for that)

[johnnymitch]

Hi Mike , welcome to the forum

 

As you have allready sent a letter requesting a copy of you Loan agreement and received no satisfactory reply .. try sending this letter , suitably amended if necessary......

 

Reference ....... (your letter of xx xxx xx)

I am disappointed that you have failed to respond to my request for a copy of my Loan agreement to which I am entitled under the Consumer Credit Act 1974 (Sections 77−79). A copy of this letter is attached for your convenience.

I have previously enclosed a payment of £1.00 which represents the fee payable under the Consumer Credit Act.

I understand a copy of our credit agreement should be supplied within 12 working days.

I am sure you also understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.

Failure to respond positively will be reported to the Financial Ombudsman Service and the Office of Fair Trading.

Yours faithfully

Do not sign the letter with your normal signature in case it accidentally appears on a Loan Agreement.... . Either print your name or sign with a uniquely identifiable signature.......

And of course send the letter 'Recorded Delivery' - so someone has to sign for it ........

If you need further advice on this just come back and ask - someone will answer - and we're a friendly bunch on here

[johnnymitch]

With regard to your Default removal query Mike - try these links and see if they help you :

Removal of default ( courtesy of freakyleaky)

http://www.consumeractiongroup.co.uk/forum/legalities/24013-defaults-proposed-method-removal.html

Courtesy of Andyorchy – default check list (IMPORTANT)

http://www.consumeractiongroup.co.uk/forum/show-post/post-1604130.html

[rory32]

Getting the default removed will be more difficult than getting rid of the debt. Anyway here's how I got rid of a debt when the creditor finally informed me that they no longer had a copy of the agreement http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/93884-wescot-rbofs-oh-dear.html

[mike77]

Excellent, thank you!, Rory ive just read your own thread about your success and i think thats the way that ill go with it!, that sounds just too good to be true!

ill keep an update of all correspondence on here.

[johnnymitch]

It'll be interesting to see how it goes, Mike ........ . We all learn from each other's experiences on here .......

 

Best of Luck...

[mike77]

Good morning everyone, on friday i received a copy of the signed loan agreement from "MARCH 05". But this was obviously NOT what i requested, as i asked for the "managed loan agreement from july 06". am i correct in thinking that even though i did sign for the first loan, the second loan (which i also signed for) paid this off, the managed loan then in turn paid off the second loan. so the only loan they are chasing is the managed loan. (I have it in writing from the bank that this is exactly what the loans did) I DID NOT SIGN FOR THE MANAGED LOAN.

Shall i now send the letter that Johnnymitch suggests above?

[lisaf]

Hi Mike,

just to let you know that I have just CCA'd hsbc aswell for my managed loan that we've had for about 3 years which I know we didn't sign as OH was in the States at the time.

They sent a reply last week saying that they needed me to sign my request so that they could proceed - what rubbish! I obviously don't need to sign so sent a letter stating that so I'm just waiting to hear back from them.

Good luck

Lisa x

[mike77]

Thanks Lisa!, good luck with yours as well!, mine is actually a default now so i also need to try and get it removed from my credit file as well. ill keep all correspondence on here.

[lisaf]

Will follow your thread with interest Mike!

[rory32]

am i correct in thinking that even though i did sign for the first loan, the second loan (which i also signed for) paid this off, the managed loan then in turn paid off the second loan. so the only loan they are chasing is the managed loan.

Correct and this is what they need to provide paperwork for.

[mike77]

Excellent!, thank you Rory, i have today posted off another request for the signed loan agreement using Johnny's template (above). I eagerly await their response!

[johnnymitch]

So do I mike - hope it works for you .......

[mike77]

Cheers Johnny, gonna make a donation to this site now as i think its fantastic how helpful everyone is. It probably wont be a lot that i give but i think everyone should give something. no matter how small.

[johnnymitch]

Thanks mike - it's not the amount - it's the thought that counts, mate

[mike77]

No response as yet from HSBC after my CCA request posted on 3/11/08 which they received on 4/11/08...funny how they responded to my previous request after only 2 days but sent the wrong information back! rather a pointless message this as obviously no further developments but just thought id keep a full update!

[johnnymitch]

Thanks for the update Mike,

 

As it's 12 working days from when they receive it , they've a little bit of time left before they're in breach .... but don't let 'em off the hook if they don't comply ......

[mike77]

ah didnt realise it was 12 working days, thought it was just 12 days!, cheers Johnny. Actually it wouldnt really make any difference if it was twelve hundred working days as they cant send me the signed agreement. As i NEVER signed one! so unless someone at the bank has the sudden urge to forge my signature, they wont be complying with my request!

[johnnymitch]

Be nice to get a letter admitting it though, mike - in 12 working days - not 1200 ....LOL

[mike77]

Just received a call from HSBC bank (it was a girl from my local branch) asking if i could talk, i said no. they said they have received my request and they are currently dealing with it. I know the girl that rang as i have dealt with her before in the branch. it was difficult to tell her to just put everything in writing as i really get on with her! and shes sexy as hell!, there was quite a bit of chemistry between us during our previous encounters! arrrrgg, HSBC and there numerous tactics!!!!.......well they obviously want to get this sorted in another way as they obviously havent got the signed agreement, otherwise they would just send it! I EAGERLY AWAIT THEIR RESPONSE!

[johnnymitch]

Invite her out to lunch and ask her to bring the agreement with her mike....

[mike77]

haha, to be honest if i could have just one night with her i would probably sign the agreement!!....(when i say one night i actually mean just 2 minutes!)

[johnnymitch]