You Couldn't Make It Up - Unless You Are a Bank ; When Papers for Disputed Loans Are Missing, Lenders Routinely 'Recreate' Them
Mail on Sunday › January 10, 2010
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Summary
IT is hard to credit, but lenders routinely mislay the card and loan agreements their customers originally sign. But even more astonishingly, if there has been a dispute later on, the lenders have used computer software to 'recreate' the original documents, sometimes with less than accurate results.
Being able to recreate agreements in this way helps banks pursue borrowers over debts (see leaked Royal Bank of Scotland staff circular, right), but there is growing evidence that when lenders 'recreate' contracts they often do not stick to the original terms.See the full content of this document
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You Couldn't Make It Up - Unless You Are a Bank ; When Papers for Disputed Loans Are Missing, Lenders Routinely 'Recreate' Them
The result is that borrowers who are often already in financial trouble are left in worse difficulties.
Document 'recreation' is in the spotlight after a court case last month involving a number of borrowers w...See the full content of this document
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