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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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An elderly relative has been duped into signing a consumer

Customer Question

An elderly relative has been duped into signing a consumer loan on behalf of a random third party introduced by another relative for the purchase of a high value consumer item. The shop knowingly sold the item and explained the terms of finance to the elderly relative who is mostly deaf and of foreign origin. The shop knew that the purchaser had been declined credit and were happy for the elderly person to step in and take out the loan, with the explanation of "they're an adult they knew what they are doing, and we explained the terms in clear English, and there is no risk as once the order is done you can change the bank details so the buyer can pay it directly." What can I do to redress this? The cooling period is over and the item has been delivered. The elderly relative doesn't realize the ramification of entering into this consumer credit loan vs Barclays and her taking full responsibility for a relatively unknown third party with a bad credit history pay the installments for the next 3 years. Is there a way of legally novating the consumer loan to owner now? Or is there a contract the elderly relative can have the owner sign that would place legal responsibility on him or should the elderly bed owner now enter into a loan agreement with the owner and have them sign responsibility to them?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Alex Watts : Hello my name is ***** ***** I will help you with this.
Alex Watts : For now please let me know when this was signed?
JACUSTOMER-3pbhvux7- :

Hello the finance agreement was signed the 12th of December 2014. The cooling off period is over. The shop is also telling me returns can only happen when there is a fault with the item.

Alex Watts : In order to take a loan out then the person needs to understand and have capacity. If not then you should seek an injunction to stop the loan and payments.
Alex Watts : Proceedings would need to be issued against both the finance company and the purchaser.
Alex Watts : form n1 needs to be completed
Alex Watts : http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf
Alex Watts : And form n16a
Alex Watts : http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n016a-eng.pdf
Alex Watts : You are asking the court to suspend the credit agreement and declare it is void.
Alex Watts : The court will list the matter for hearing and see if it is contested or not,
Alex Watts : If it is the court will give directions and set the matter down for a final hearing. In the interim the court can make an interim order suspending payments etc.
Alex Watts : But your friend will need legal representation. They may or may not get legal aid. If not they will have to pay for a solicitor but if they win can seek costs nack
Alex Watts : Can I clarify anything for you about this today please?
JACUSTOMER-3pbhvux7- :

Wouldn't it be a simpler solution to contact Barclays explain the situation and have them novate the agreement to the owner now instead or to put pressure on the retailer to pick up the item and void the agreement?

JACUSTOMER-3pbhvux7- :

Sure Barclays wouldn't be happy about people circumventing their credit policy by the retailer duping innocent people to take out their agreements.

JACUSTOMER-3pbhvux7- :

If this goes to court this would cause great stress to the elderly relative. What contract could I get the third party to sign to ensure that it is clear that this is his debt and for it to be legally enforceable in the event of default?

JACUSTOMER-3pbhvux7- :

In the event I can not get this loan voided - what if I asked the defendant to sign a loan agreement like the following - http://www.formsmadesimple.co.uk/form_sample/loan_agreement.pdf

JACUSTOMER-3pbhvux7- :

Would that still hold up in court in the event of default by defendant? And would I be legally able to ask a bailiff to enforce this collection of this loan?

Alex Watts : It would be possible for Barclays to Novate but you want to stop anything happening in the meantime. As it stands they are entiled to recover from your relative.
Alex Watts : Sadly even if you get a third party to sign a document, if the agreement is defaulted upon it will be your relative that could face court action and you couldn't stop that sadly. Unless Barclays assign it.
Alex Watts : It would be enforceable by law your contract agreement but that does not mean the primary agreement can't be enforced by Barclays.
Alex Watts : does that help?
Alex Watts :

If this answers your question could I invite you rate my answer before you leave today.


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