Hi in 2018 I took out a bank loan on my mobile app. I’m still paying it now. My question is ! Because it was on an app and not signed with a wet signature do I have a right not to pay this loan because without my signature I’ve not entered into a formal contract with them. I am wanting to pay the original amount back but not the interest on the amount. Thank you for the opportunity to ask a question




You are not the first person, nor will be the last to ask this question, and it is a good question!

We live in a digital age now, and if you agreed to the loan in principle online, or via the phone, which many companies record and keep those recordings, you are liable for the loan.

You can always ask the lender for proof of the loan, but if you have acknowledged in an email, or by providing your bank details to accept the money, you could be seen as owing the money. By making payments you could be seen as acknowledging the loan.

This is more of a legal matter, so you may wish to seek legal advice.

If you are paying the loan, why do you now want to stop payments?

Are you struggling to repay the loan?

How much was the loan for, and for how long?

I will research this more, but I feel in my experience, we both know the answer.



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