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what is an unregulated loan


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i took out a car lease purchase for a car total borrowed 25,450 approx. from duncton no 1 just over the 25,000 limit supposedly in april 2007. i put down over 6,000 deposit and todate have paid 700 a month for 2 years. thats over 21,000. on a 30.000 debt incl interest. last week got behind one month and sent them an e mail saying that the contract was unfair etc and that it might be unenforceable. i had been already sent a termination notice and the next day i was clamped by a man and his wife in waitrose car park. i really dont want to go on much about what happened next as it is now a criminal matter as my partner was assalted and i was towed away backwards by a tow truck and pushed and locked in by them with the key.

 

does anybody know anything about these type of loans we have done some investigation into it and taken solicitors advice that it could be unenforceable but the finance company keep saying its unregulated, but my understanding and if anyone can shed some light on it the consumer credit act 2006 stated that the unfair relationship test can be put forward and anyway all loans are now regulated in some way or oher either the FSA or under the consumer credit act 2006 which was implemented in 2007 and 2008 in two stages if that makes sense.

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  • 2 weeks later...

I cannot help you as to information concerning unregulated loans.

 

I would suggest though, that you make an official complaint to the police, ask for the incident to be logged and get the name/s number/s of the police officers involved, etc., etc..

 

This could be used in a counterclaim, any judge would take a very dim view on this kind of going-on. The fact that this happened in the Waitrose car park may also have legal implications.

 

Check the two articles, you might be covered by insurance for this debarcle.

 

About CFA's? - No Win No Fee

Clavis

 

General Debt Issues - Page 4 - The Consumer Forums

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