hi there,
this is my first post, I have joined to ask this query as I have searched high and low on the net and cant find any similar situation or an answer to my query.
In June 2009 I consolidated two loans and a credit card as my work had been hit hard and I was struggling financially so one repayment made more sense. This was a 5 year loan repayaing 202 per month. During the course of the loan I took a three month payment break, agreed with the bank so the loan should have finished in Oct this year. However I phoned the bank to check the loan balance in September this year and was told that there was still 1200 oweing. Cue a lot of phone calls later and it transpires that five repayments had been missed at the very start of the loan, even though this money had been lodged and I have proof that the money was lodged, and can also see it been taken out of my account.
However my big issue is that in may 2010 the man in the bank I always dealt with restructured the loan in to a new personal loan of 9300 over 53 payments at 202 per month. Ive requested a copy of the loan agreement and I can only be provided with the unsigned bank copy. I can prove I was work all that day(I got married the next week and that was my last day in work) I got a phone call today and they've said they've one more place to look for the signed copy and will call me back tomorrow to advise if they find it. I told them they definitely wont as I didn't sign it.
What is the position when a loan is restructured and I haven't signed for it?
I also have issue with the fact I was paying in money for five months, actually phoned to make sure all payments were met and was advised they were.
opinions appreciated.
this is my first post, I have joined to ask this query as I have searched high and low on the net and cant find any similar situation or an answer to my query.
In June 2009 I consolidated two loans and a credit card as my work had been hit hard and I was struggling financially so one repayment made more sense. This was a 5 year loan repayaing 202 per month. During the course of the loan I took a three month payment break, agreed with the bank so the loan should have finished in Oct this year. However I phoned the bank to check the loan balance in September this year and was told that there was still 1200 oweing. Cue a lot of phone calls later and it transpires that five repayments had been missed at the very start of the loan, even though this money had been lodged and I have proof that the money was lodged, and can also see it been taken out of my account.
However my big issue is that in may 2010 the man in the bank I always dealt with restructured the loan in to a new personal loan of 9300 over 53 payments at 202 per month. Ive requested a copy of the loan agreement and I can only be provided with the unsigned bank copy. I can prove I was work all that day(I got married the next week and that was my last day in work) I got a phone call today and they've said they've one more place to look for the signed copy and will call me back tomorrow to advise if they find it. I told them they definitely wont as I didn't sign it.
What is the position when a loan is restructured and I haven't signed for it?
I also have issue with the fact I was paying in money for five months, actually phoned to make sure all payments were met and was advised they were.
opinions appreciated.