Ok, let me just first say, I am in no way seeking legal advice. I would just like to get people's reactions to this scenario, and would like to know if any similar cases have happened before.
Anyway, my story. In August 2010 I got an 8,000 euro loan from the bank for college. As far as I can remember, I never signed a credit agreement, but I agreed orally with the bank manager to come back in to the bank in August 2011 to agree a repayment schedule. In hindsight, that sounds crazy, but that's what happened. I didn't know the bank manager at all. The reason the general manager dealt with the loan was because the loans manager was on holidays.
I received the 8k into my current account and spent it over the course of the year on college. Fast forward to August 2011, the bank contacted me saying I am in default of my loan and need to bring my repayments up to speed. I replied saying no problem but I don't know what the situation is. I asked what are the terms of my loan repayment, because I don't have a credit agreement, if one was ever signed in the first place. The bank responded that there was a credit agreement signed but they are unable to locate it for the moment but will look for it and get back to me. For the next 6 months more or less, the bank kept sending me letters telling me I'm missing payments, and each time I asked them what the situation is with the existence of a credit agreement, they told me they will let me know. For the duration of these exchanges, I've been living in Germany, and I still am.
They eventually let me know that they are unable to locate a copy of our credit agreement and asked me to call in to the bank when I can to arrange a repayment schedule. I called in at Christmas just gone when I was back home. Before I did, I got legal advice from 2 different solicitors. They both told me that in the absence of a written credit agreement, the bank will have severe difficulties enforcing the loan agreement in court. They also told me it is a bizarre set of circumstances and a severe oversight on the part of the bank.
So when I went into the bank to arrange a repayment schedule, I told them I was willing to pay back the principal of the loan but I wasn't prepared to pay back any interest. I know some people would see that as very cheeky, but that's a different discussion. The loans manager told me that she doesn't have the authority to agree to that but will pass on the request to her superiors. We didn't sign anything on that day or come to an agreement. We agreed that further co-operation would be through the post as I was going back to Germany after Xmas.
Fast forward to Friday when I get a letter from the loans manager. She tells me they have located my credit agreement, and lo and behold a copy of it is attached. This is where it gets interesting. The credit agreement is signed on behalf of the bank by the loans manager, even though I'm 99.9% sure she wasn't involved in my loan application process back then because she was on holidays, it was the general manager who I met with everytime.
Also, the credit agreement states that the 8,000 euro is to be repaid within 1 year of drawing down the money. So in other words, the money is to be repaid before my college year was up (it was a full calendar year in college). The repayment details state that it is to be repaid in one instalment of 8,000 to repay the capital, and then 4 quarterly instalments of the interest applicable. It is then signed both by myself, and by my father as a guarantor. I am 99.9% sure my father never came into the bank with me about that loan.
Now, I am 100% sure I never signed that credit agreement. It would defeat the purpose of me asking for a loan for college, to have to pay it back when I was still in college, and not working.
The signatures of both myself and my father on the credit agreement look genuine. I suspect they copied and pasted them from a previous credit agreement I had with them in 2008 where my father went guarantor for a much smaller loan.
So, what are your thoughts on this? I seem to remember a similar case where AIB fraudulated a married couple's mortgage agreement about a year or so ago. Does anyone have any experience of similar stories?
Regards,
Shelagh.
Anyway, my story. In August 2010 I got an 8,000 euro loan from the bank for college. As far as I can remember, I never signed a credit agreement, but I agreed orally with the bank manager to come back in to the bank in August 2011 to agree a repayment schedule. In hindsight, that sounds crazy, but that's what happened. I didn't know the bank manager at all. The reason the general manager dealt with the loan was because the loans manager was on holidays.
I received the 8k into my current account and spent it over the course of the year on college. Fast forward to August 2011, the bank contacted me saying I am in default of my loan and need to bring my repayments up to speed. I replied saying no problem but I don't know what the situation is. I asked what are the terms of my loan repayment, because I don't have a credit agreement, if one was ever signed in the first place. The bank responded that there was a credit agreement signed but they are unable to locate it for the moment but will look for it and get back to me. For the next 6 months more or less, the bank kept sending me letters telling me I'm missing payments, and each time I asked them what the situation is with the existence of a credit agreement, they told me they will let me know. For the duration of these exchanges, I've been living in Germany, and I still am.
They eventually let me know that they are unable to locate a copy of our credit agreement and asked me to call in to the bank when I can to arrange a repayment schedule. I called in at Christmas just gone when I was back home. Before I did, I got legal advice from 2 different solicitors. They both told me that in the absence of a written credit agreement, the bank will have severe difficulties enforcing the loan agreement in court. They also told me it is a bizarre set of circumstances and a severe oversight on the part of the bank.
So when I went into the bank to arrange a repayment schedule, I told them I was willing to pay back the principal of the loan but I wasn't prepared to pay back any interest. I know some people would see that as very cheeky, but that's a different discussion. The loans manager told me that she doesn't have the authority to agree to that but will pass on the request to her superiors. We didn't sign anything on that day or come to an agreement. We agreed that further co-operation would be through the post as I was going back to Germany after Xmas.
Fast forward to Friday when I get a letter from the loans manager. She tells me they have located my credit agreement, and lo and behold a copy of it is attached. This is where it gets interesting. The credit agreement is signed on behalf of the bank by the loans manager, even though I'm 99.9% sure she wasn't involved in my loan application process back then because she was on holidays, it was the general manager who I met with everytime.
Also, the credit agreement states that the 8,000 euro is to be repaid within 1 year of drawing down the money. So in other words, the money is to be repaid before my college year was up (it was a full calendar year in college). The repayment details state that it is to be repaid in one instalment of 8,000 to repay the capital, and then 4 quarterly instalments of the interest applicable. It is then signed both by myself, and by my father as a guarantor. I am 99.9% sure my father never came into the bank with me about that loan.
Now, I am 100% sure I never signed that credit agreement. It would defeat the purpose of me asking for a loan for college, to have to pay it back when I was still in college, and not working.
The signatures of both myself and my father on the credit agreement look genuine. I suspect they copied and pasted them from a previous credit agreement I had with them in 2008 where my father went guarantor for a much smaller loan.
So, what are your thoughts on this? I seem to remember a similar case where AIB fraudulated a married couple's mortgage agreement about a year or so ago. Does anyone have any experience of similar stories?
Regards,
Shelagh.
