Do I have to repay loan?

[gando1]

I recently took out a loan to buy a car. Sent back the signed paperwork but then my situation changed and I no longer needed it. So I phoned up the loan company and cancelled loan- have 30 day cancellation period. As they had not recieved back my paperwork even it was all ok and I was told to dispose of paperwork as it was useless.
However, now the money has gone into my bank account anyway, Do I have to pay it back as it's their fault. I didn't ask for it!

[Pea Pod]

You say you sent back the signed paperwork therefor you had entered into an agreement with them.Did you not write and cancel.A phone call can be with anyone.I am no legal eagle so wait for one of them to confirm, but I think you`ve still got your loan.No free lunch I don`t think.

[buildersmate]

You owe them the money and will have to pay it back. You seriously can't believe you can get away with this.

[dzug]

If someone pays you money by mistake it is theft to keep it - you have to pay it back. 'Fault' doesn't enter into it.

Whether in a lump sum now or under the original T&C of the loan is probably up to you. The longer you keep it the more likely it is that they will insist on it being treated as the original loan.