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Alice H
Alice H, Solicitor/Partner
Category: Law
Satisfied Customers: 2850
Experience:  Partner in national law firm
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Hi, ive just recently signed a credit agreement for a student

Resolved Question:

Hi, ive just recently signed a credit agreement for a student course. I recieved paperwork for the course tuesday just gone (4th march). Its not what i expected and i wish to pull out of the credit agreement. The agreement says 14 days to cancel, but i didnt recieve my sign up codes (which are needed to start the course) until over 2 weeks after i signed the credit agreement.
Submitted: 3 years ago.
Category: Law
Expert:  Alice H replied 3 years ago.
My name isXXXXX and I'm happy to help with your question today.

What exactly do you wish to know?
Customer: replied 3 years ago.

can i still leave with out having to pay the full cost of the loan agreement

Expert:  Alice H replied 3 years ago.
If the credit agreement contains a 14 day 'cancellation' or'cooling off' period then you can exit the agreement without paying the loan company a penny.
Customer: replied 3 years ago.

yes i understand that, i signed the agreement on the 17th of feb i received my account activation code on the 4th the course wasnt what i thought it would be and want to leave. which now will be 3 weeks after i signed can i leave without paying for the whole sum

Expert:  Alice H replied 3 years ago.
The cooling off period is 14 days from the date you signed the contract.

The issue you have is with the course not the loan agreement. So, you can cancel the loan and course for the reason you have stated but you may have to pay a penalty. Your loan agreement will say exactly how much that should be.

You can argue that you did not receive the material until after the 14 day period and, therefore, could not have cancelled sooner. If the loan company does not accept this argument you can complsin, free of charge, to the Financial Ombudsman who will look at the matter for you.

Alex

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