The consumer credit rules changed regarding enforceability from April 6th 2007. From then on, with any new contract, it'll be up to the courts to decide whether your particular credit agreement is unenforceable.

Even if the contract you've signed contains incorrect or missing details, a judge may feel that you knew perfectly well what you were agreeing to.!

Had this been a older pre-April 2007 agreement, it would definitely have been unenforceable. However, if you've had the money I am quite confident a court would rule in favour of the creditor in your case.

Gazza72:

Based on my limited knowledge of this subject I would think it would be enforceable. My understanding is that the Consumer Credit Act 1974 act was amended in 2006 to remove clauses about enforcebility of agreements. As you took out the loan in 2008 your loan is subject to the revised act.

Once you had signed up to the loan over the phone, BOS would have sent you all the information regarding the loan. Under the distance selling rules, you would only have had a limited amount of time, to cancel the loan.

If you stopped repayments, BOS would apply any default charges and these would affect your credit rating/record. After a period of you not paying, they could take you to court and obtain a CCJ.

If you are struggling to repay the loan and need advice, you should contact Citizens Advice.You should continue to make payments in the meantime.

No doubt other posters to this site will add their comments about enforcebility and the CCA as amended.

Huckster

Hi

First time here and need some advice please.

We took out a Bank of Scotland personal loan (over the telephone) in April 2008.

We recently realised we didn't have a copy of the agreement and requested copies from BOS.

After two months of waiting and several requests later the agreement turned up yesterday and it is NOT signed by me or the wife.

It has been signed and dated by somebody on behalf of BOS but the customer signature boxes are empty.

Is the loan enforceable please?

How do we stand legally if we stop repayments?

Can we get defaulted? etc etc

Any advice is welcome please.

Thanks