30-11-2013, 03:45 PM
14
Re: have i got a case ????
Sorry i haven't replied to the comments..some how my e mail notifications got turned off ...but we have penned a letter to the Loan company they will get it by e mail and also recorded delivery snail mail the bank is aware and is refunding the money and the financial ombudsman is involved ....it is very complicated ..but to try and make it simple its like this ....two companies ..2 different trading names....both part of the same BIG company ...My wife took a emergency loan with company A...my daughter was Guarantor...there where no real problems ...... My daughter then took a loan for college equipment etc from company B and I was guarantor...Unfortunately she lost her part time work for a while so i had to take over the loan as guarantor then i lost my job lol ...however my daughter started work again and has not missed a payment till last month...I have really Peed of the company as I have changed my bank details as i have no income at all ...my wife pays the household bills ....so comp B have tied the names together my daughters and wifes in comp A ..accessed the wife's account and bank details and took the money from her bank....it is not a bank joint account she is not a guarantor to my daughters loan ....its all complicated
30-11-2013, 09:24 PM
16
Re: have i got a case ????
It is your wife who has the case, as it is her account that the money has been taken out of, but don't forget that the loan company also has a case against you.As a gaurantor for your daughters loan you are responsible for her missed payments, and if they are not paid the company can take legal action against you.
Also you may have broken the terms of the loan agreement by changing your bank details.
It could be a legal minefield.
30-11-2013, 10:00 PM
17
Re: have i got a case ????
Originally Posted by Jimmy
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As a gaurantor for your daughters loan you are responsible for her missed payments, and if they are not paid the company can take legal action against you.
30-11-2013, 10:07 PM
18
Re: have i got a case ????
Originally Posted by Losos
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I regret to say Jimmy that you have summed up the situation perfectly. The loan company have got the money from UKMartins wife, if they have to give it back they will almost certainly take legal action against UKMartin.
This could be seen in law as asset stripping.
03-12-2013, 12:16 AM
19
Re: have i got a case ????
Thanks all, the truth is I cannot pay them as the payment is more money than I have coming in so it is end off , you cant get blood out of a stone, they will get the money , in fact we have paid back the capital in real terms ....what I did not realise as I trusted my daughter (silly me ) the interest rate was 49% we now have the same amount in interest to pay .this company are bullies ..in the past they have been ruthless , they have lied to me and made unwarranted threats...I have never refused to pay them ..I offered to re- negotiate the loan terms to take into consideration the change of my circumstances ...I changed my bank details to protect myself from bank charges as they would access my account in such a way I had no chance of avoiding them ..so I paid them manually ..I was barraged with sometimes 6 calls a day between 8am & 8pm ..this company has been in trouble before ...they threatened me one day with putting a charge order on my house and getting my credit rating cut ....at the time I was ignorant to these threats , when i found that they illegal and the only people who could do this was a court i reported them ....I was not the only one ..they have been in trouble and have since changed their name and re-branded...|
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