Alliance & Leicester Loan Agreement

[San Martino]

Hello,

I recently recieved my A & L cca request, its looks enforceable to me, Boo!
However, I have a question regarding the ' cooling off period ' of 14 days
that is not mentioned in the agreement or T&C's. I cant see it!

Is there any possibility that it could be unenforceable because of this ommission?

What are your thoughts,

Thank You

ps agreement to follow

[San Martino]

Heres what A & L sent me.

[clemma]

I got your PM but I am not 100% sure with this. I think the cooling off period depends on the way the loan was obtained (i.e you went to the branch, cold calling etc). Someone else should be along to help you soon though.

[citizenB]

I am wondering if the sentence

"This offer is available for 28 days from the date of the Alliance & Leicester signature "

could be construed as such ?

I will pop your link on to a couple of other threads that are more frequently visited by "those that know about these things" and they might be able to advise you more fully.

[42man]

I agree with what has been said above......was this an online loan ? or in branch ? I would have thought that it would include cancellation rights but it wouldn't IMO be enough to make it unenforceable......was the default notice compliant ?

[banker_rhymes_with]

Hello SM!

Thanks for the PM.

I regret that Loans are not something I'm that up to speed on.

The above comments from the others are all valid and are good points to explore.

I can see they Signed the Agreement before you, so this Thread may be of some interest:

http://www.consumeractiongroup.co.uk...ml#post1514689

Key issues seem to be:

(1) Did they discuss the Loan with you before signing, i.e. within one of their Branches, or did they send out a Rep etc.

(2) Have they issued a Default Notice yet?

Cheers,
BRW

[San Martino]

Thank you all for your comments, it is much appreciated.

I initiated this application over the phone, at no point did i visit a branch
and i signed the agreement at home then posted it back to A & L.

I have sent a Subject access request recently in order to see whether or not a 'cooling off period' was offered to me after i signed their agreement.

"This offer is available for 28 days from the date of the Alliance & Leicester signature " could be construed as such ?

CitizenB - This is a good point you make, however I believe that as consumers we should see a clear and defined cancellation option.

Banker Rhymes, clemma - I only dicussed the loan over the phone and I was issued a default notice in March 2008, also I have been paying a agreed reduced monthly amount with A & L.

42man - I will check the Subject access request to see if the default notice was compliant.

In general I realize the agreement looks enforceable, however there does seem to be a question as to whether it is a cancellable agreement as defined in CCA 1974, and if so, should it not be made clear as to our right to cancel within the agreement and or the terms and conditions.

I may be clutching at straws here, so your advice is taken on board.

All the best to you all.

San Martino

[San Martino]

Hi
I am still waiting for my Subject access request.
Was wondering if any one had any further thoughts on this.
Thanks