Hi!
I have recently received a copy of my loan agreement from Egg. It is an agreement from 2002. My question is the prescribed terms that must be present include the amount of credit. What exactly is the amount of credit? My agreement shows the loan amount, i.e. amount advanced to me without any interest added and there is no breakdown of the amount of interest to be added or the total amount due under the agreement, just the loan amount, the interest rate and number of payments. Is this showing the amount of credit or is it an unenforceable agreement?
Thanks,
Sarah
I have recently received a copy of my loan agreement from Egg. It is an agreement from 2002. My question is the prescribed terms that must be present include the amount of credit. What exactly is the amount of credit? My agreement shows the loan amount, i.e. amount advanced to me without any interest added and there is no breakdown of the amount of interest to be added or the total amount due under the agreement, just the loan amount, the interest rate and number of payments. Is this showing the amount of credit or is it an unenforceable agreement?
Thanks,
Sarah
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