We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Unenforceable Credit Agreements
Options
Comments
-
Be more specific please. No point in back-tracking over old ground.I dont agree with his comment either Proliant but coming from you I do find it odd you ask him to quote facts when you seem to be lacking in this department as wellSince when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0 -
Be more specific please. No point in back-tracking over old ground.
Humble appologies Proliant hadn't read the previous 2 pages and indeed you are right there is no point back tracking over old ground.I am a Mortgage Adviser .You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Not a problem, when I am wrong I will admit to it, I hold my hands up and stand to be corrected - we can't be 100% correct all of the time.Humble appologies Proliant hadn't read the previous 2 pages and indeed you are right there is no point back tacking over old ground.
Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0 -
Who is the MP and the Banker?
When I read that I assumed they didn't actually mean 'Banker'. Just something that sounds............ similar.
Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
When I read that I assumed they didn't actually mean 'Banker'. Just something that sounds............ similar.
now now retract claws:rotfl:I am a Mortgage Adviser .You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Are we having a go?
Oh I forgot if you don't jump on the bandwagon on MSE you are singled out by "simpletons" and they resort to childish comments, oh well guess being an individual with his own mind and not influenced by a warped social demographic population is something at least.Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0 -
Are we having a go?
I'm not. Seriously.
Given the tone of the comments on similar threads :rolleyes:, it was simply an observation on how I read it at first. It certainly was not aimed at anyone one poster or 'group' of posters.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Let me make it clear it is not our right to borrow money and not pay it back.
however
It is our legal right for the lenders to act within the laws they have been told to abide by, after all these laws were put in place to try to protect us.
When a lender ignores those laws because they can turn more profit by doing so.
Should we ignore it?
If we didnt complain about the misselling, the bank charges, the ways banks conduct themselves the argument seems to be that interest rates would come down because they wouldnt be paying compensation.
I just cant help feeling without the rules being enforced the opposite would happen, misselling would increase, bank charges would increase, interest rates would increase.
All because the lender can get away with it.
Yes the regulator may slap them with a fine, but how often is the fine more than the extra profit they have made?
When investigating the liability for these claims it's huge, billions per bank.
Yet with all lenders liabilities added together its still less than a single well known high street bank makes off bank charges in a 6 month period.
The 'morals' of complaining is for an individual to decide, yet the legal right for anyone to investigate is not up for debate.I am a Mortgage Adviser .You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I think it has to be said, even if it is just to ease the minds of the bleaters, the saving grace here for the lenders and our economy is that one national trait of ours that will overcome everything. APATHY. The truth is that the lenders have screwed up big time. Not just in the current climate, they have been screwing up for years even down to simple agreements and the way they conduct their business.
They have left themselves wide open for most of us to have a go back if we all chose to. I and a few other claims professionals have estimated that if everyone who had a claim claimed you could be lookng at around £100billion.
The simple truth is that not all those people will make a claim, for whatever reason so that figure will get ever smaller with time barring and little tweeks to the law that lenders keep on winning in the background.
In reality, yes the claims will make a dent in the coffers of the insitutions but that will be it, a dent. When individual insitutions have been claiming profit leves of £7 billion a year, how much of that profit do you think is ill gotten gains from ripping you and me off?
At the end of the day they will only be paying those ill gotten gains back.
So argue amongst yourselves if you wish about the merits or wrongs of this culture of claiming but it wont change a thing. Those that are inclined to claim will and those that are against wont. What is the point of one group hurling verbal stones at the other?
If you and I break the law and get caught ywe expect to pay the price, Why should the institutions be any different?I am a former Broker, former IFA and former compliance officer, for my sins.
However, I have since seen the light.0 -
If you apply and are accepted for a credit line, be it a credit card, overdraft facility or loan, you should read the terms of the contract before you commit to borrowing the money.
If, like many on MSE, choose to feel that you no longer want the burden of the debt after you have spent the money and resort to finding a way out of repaying the debt then that is not the right thing to do - sorry but we live in a society of can't pay - wont pay people and a dense compensation culture.
I was not raised by my parents to operate in this manor and yet having made mistakes financially in the past I have still not went down any of these avenues of challenging credit agreements, claiming back charges etc.
This does not make me a ****** or any other "childish" alias that the "opposition" may refer to, what it does make me is down to earth and relatively honest.
We all can't agree on everything because we are all human and we would never learn anything, however when people are actively promoting "claim this and claim that" it is teaching people who are maybe easily influenced by other peers to act in that manor, not setting a very good example for future generations of society is it?
Never mind though, this is only a forum and I /we can choose whether to read and post on it or not, just bear in mind that the word on MSE is not necessarily the truth or fact.Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards