No APR shown

[firefly]

Hi
I have a loan(2002)defaulted in 2004.
I have been paying token agreed payments.
However on reading through various threads and returning to my original agreement the loan has a box for APR and it's not been completed.The total cost for credit just shows an amount-
Just for now ,is this an UE document.
Thanks.
The PPI is the same!

[Guest]

Re: No APR shown

Hi
I have a loan(2002)defaulted in 2004.
I have been paying token agreed payments.
However on reading through various threads and returning to my original agreement the loan has a box for APR and it's not been completed.The total cost for credit just shows an amount-
Just for now ,is this an UE document.
Thanks.
The PPI is the same!

HI

THe APR is not a prescribed term on a credit agreement, so its absense would not make the agreement automatically unenforceable. However the creditor could only enforce with an order of the court, i have no doubt that there would be some sanction for a missing APR but it would be up to the judge.

Peter

[firefly]

Re: No APR shown

Thanks Peter