When is an agreement invalid?

[sleeplessella]

Re: When is an agreement invalid?

When you say I won't get any money back, are you talking about the amount which has been paid over and above what the default is or are you talking matter closed? I ask because I have been offered unsolicited PPI rebates on this and 2 other loans because of mis-selling (their interpretation) Only thing this was a business loan and I retired from the business years. The bank simply wanted me to sign after which they would tell me how they would pay. I did not think it wise to sign and perhaps make myself liable, plus there are other parties which have more of an interest. Unfortunately I simply let the offer lie on the table as I could not face trying to sort out the whole sorry mess at the time. Consequently the DCA started contacting me again. The unenforceable option was simply to get them off my back whilst I considered my next steps.

[Guest]

Re: When is an agreement invalid?

HI
When an agreement is unenforceable , it does mean that the money is not owed to the creditor, it merely means that it cannot be chased through the court, so any money already paid on the account will not be refundable.

Peter

[sleeplessella]

Re: When is an agreement invalid?

Thanks for the response, because this is a business loan and I am no longer a business partner I do not think I am entitled to anything anyway.

[sleeplessella]

Re: When is an agreement invalid?

Once again, just want to say thanks for all the help. Received a response to my letter stating that all correspondence must be directed to the bank so it looks as if the DCA has backed away for the present. Know I need to sort this - hoping that I can get further good advice from you guys.

Regards

Sleepless