Any Comments from Martin Lewis Re: getting loans written off?

booi666

BarclaysManager wrote: »

Actually, I'm not just a manager. What I am in Barclays is irrelevant, however - why would I need to go "up the chain of command" to see what's "really happening" if you - a layman - can supposedly be so enlightened?



Probably because it's not the role of a bank's customer services to educate you about the fallacies of things that you find on YouTube.



They loan out other investor's money. To help you understand:

A bank is a government-licensed financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money at differing maturities. It is an institution for receiving, keeping, and lending money at interest. In order to make profits, modern banks generally "borrow short and lend long" (i.e. take money from depositors and lend that money for longer-term projects).



What are you talking about? None of what you're saying actually makes sense. "Validation of the debt the accountancy part"?

If you can word this out in to some sort of coherent question, I'll happily answer it.



You may have to sign an application to allow us to undertake a credit check, amongst other things. After that, you sign an agreement for your loan. Two separate things.

A promissory note/note payable is different to a loan agreement. It's an agreement to pay a specific amount, which may include interest, at either a fixed time or a flexible time. It's not the same as a loan agreement.

You may want to read up on these things.



No, the funds are already there. The bank takes one person's money and lends it out to another.

If you're talking on a grander scale, in terms of money as a whole? We have a fiat currency. Our currency is not backed by gold or other valuable metals, but by the value of our economy - the goods and services that



Just because you don't understand something doesn't mean there's a scam.



Burden of proof. You are making the assertions, you have to prove them and provide evidence.



Uh. They're not.

LOL

YOU DIDNT ANSWER MY QUESTIONS!!!!!!!!


VALIDATION

CONTRACT THAT DOESNT CONTAIN ANY ELEMENT OF FRAUD

PROOF OF CLAIM YOU SUSTAINED A LOSS

PROOF THAT YOU DISCLOSED ALL MAYERIAL FACTS IN RELATION TO AN IMPLIED CONTRACT.

PrOOF OF YOU BEING THE TRUE HOLDER IN DUE COURSE OF THE ORIGIONAL PROMMISORY NOTE

~Brock~

The best piece of advice I ever received - many years ago - was "beware of stupid people in large groups".

recyclingbox

Boooi666 - eh??

Facebook Conspiracy Theorists, Dan BRown Theologians and now YouTube Economists - Barrack room lawyers anybody?

petermb_2

booi666 wrote: »

LOL

YOU DIDNT ANSWER MY QUESTIONS!!!!!!!!


VALIDATION

CONTRACT THAT DOESNT CONTAIN ANY ELEMENT OF FRAUD

PROOF OF CLAIM YOU SUSTAINED A LOSS

PROOF THAT YOU DISCLOSED ALL MAYERIAL FACTS IN RELATION TO AN IMPLIED CONTRACT.

PrOOF OF YOU BEING THE TRUE HOLDER IN DUE COURSE OF THE ORIGIONAL PROMMISORY NOTE

I think this stuff you are quoting has been tested in court and failed. This is US law, not UK. This all came from a Multi-level Marketing club called Ultimate Entrepreneur that has since failed also.

There are plenty of legitimate heads of claim against lenders without bringing this stuff into the discussion.

Grendel_2

jonesMUFCforever wrote: »

To all posters who think they stand a chance of getting their loans written off I will only ask one question - why is it that all these companies that promise to be able to write the debts off ALWAYS ask for an upfront fee and NEVER offer to take their fee out of the savings to you?

Wouldn't you want some money for doing some work? They have overheads, etc. to pay.

Grendel_2

cuddly12 wrote: »

I am sorry but I do just have to say to all of you hoping to get your loan written off, You were the one's who took out the loan and you were happy to spend the money you were lent and now you want them to write off your debt? I appreciate that you will have paid back alot fo what you borrowed especially if you have had the loan for several years, but surely you knew what you were getting into when you took the loan out and you should have read the credit agreement before signing anything!

And if there was a problem with the T&Cs in their favour where you had to pay double or whatever, would they feel bad? No, I doubt it. You should get what you can from this life.

Grendel_2

cuddly12 wrote: »

All I am saying is that you cannot take a loan out and be happy to spend the money and then just put all the onus on the lender getting it all wrong and expect to have the debt written off.
I work for a financial company, so I am not just making throw away comments here, I am mearly saying, you needed the money and you got it and spent it, so a small portion of the blame has to lie with the borrower for doing that

And now the interest rates are so low and these companies are paying virtually nothing to borrow money from the bank of England, but still charging huge interest rates to the customer, surely we should get something better than the really bad deals?

gomer

orangetrader wrote: »

your probably right but the fact that they footed a large legal bill highlights the fact that the risks, for anybody thinking about taking a lender to court, are real.

It also highlights the fact that sometimes it's better to know when to stop & not take the pi$$ when you already got a lot more than you set out for. If as i suspect they were just blinded by greed then it serves them right. I bet they wish they had just shut up and been content with £100,000 now. :cool:

lesley1960

cuddly12 wrote: »

All I am saying is that you cannot take a loan out and be happy to spend the money and then just put all the onus on the lender getting it all wrong and expect to have the debt written off.
I work for a financial company, so I am not just making throw away comments here, I am mearly saying, you needed the money and you got it and spent it, so a small portion of the blame has to lie with the borrower for doing that

No not a small portion , all the blame must lie with the borrower surely ? you borrow money , you should pay it back surely? ....( I am aiming this mainly at those who dont wish to pay rather then those who at the moment cant )

AMILLIONDOLLARS

Surely if a lender drafts an agreement and it does not include the total amount payable throughout the period of the loan, they should be held accountable?

AMD