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I was told and I thought I was signing a co guarantee loan with Barclay's Partner Finance for my brothers study course with Advent Training. Advent went into administration. It transpires that I was not co guaranteeing the loan for my brother but the loan was in my sole name even thou I received no goods and services for the loan.
The Financial Ombudsman have said that they can not get involved in the case “… under Section 75 of the Consumer Credit Act 1974, the transaction needs to have a relationship between the debtor, the creditor and supplier. In this case you are the customer but it was your brother who is the student. Therefore BPF are not jointly and severally liable for any loss under Section 75 as the service was not supplied to you, their customer. I regret that because of these two reasons, I cannot take the complaint further. “ Does anyone have any knowledge of this and what can be done if anything.
I was told and I thought I was signing a co guarantee loan with Barclay's Partner Finance for my brothers study course with Advent Training. Advent went into administration. It transpires that I was not co guaranteeing the loan for my brother but the loan was in my sole name even thou I received no goods and services for the loan.
The Financial Ombudsman have said that they can not get involved in the case “… under Section 75 of the Consumer Credit Act 1974, the transaction needs to have a relationship between the debtor, the creditor and supplier. In this case you are the customer but it was your brother who is the student. Therefore BPF are not jointly and severally liable for any loss under Section 75 as the service was not supplied to you, their customer. I regret that because of these two reasons, I cannot take the complaint further. “ Does anyone have any knowledge of this and what can be done if anything.