No Agreement

Foenix

Why don't you go work for Welcome Finance, I'm sure they would love you on the team, to defraud customers and feel happy about it.

~Brock~

Foenix wrote: »

Why don't you go work for Welcome Finance, I'm sure they would love you on the team, to defraud customers and feel happy about it.

Lol.

Why the venom? Is debate no longer allowed on this forum or has it turned into CAG while I wasn't looking.

A) Welcome couldn't afford me (not that I would want to work there of course....).
Where have I posted condoning defrauding customers, or on Planet Reclaim do you regard any moneylending arrangement as fraudulent?

At least Peter can have an intelligent debate without all the bile.

Cashpig74

Lenders like to lend and like to profit from that lending. They are not there to make peoples dreams come true - not there to make that special car a reality ot that dream home a reality - they are there to profit from people that need to borrow money.

Unfortunately for the banking industry, they have been uncovered of late as to how much of a profit they have been making out of people, and it is very questionable. So much so in fact, that there are refunds and rebates-a-plenty. They are only there because they are justified.

Same thing goes for writing off the loans/cards due to improper contracts. It's just the way the business world works - just like if your passport is out of date by a few days, you cannot travel.

If your agreement is not as it should be, they cannot force you to pay continue making payments to them. Its just the way it goes.

Whether you take your rights and use them, is up to you.

Personally, I'll use them all day long as my priorities is looking after my own personal welbeing and my famlliy. They come first.

~Brock~

Hello Mr Pig. Nice to make your aquaintance.

Cashpig74 wrote: »

Lenders like to lend and like to profit from that lending. They are not there to make peoples dreams come true - not there to make that special car a reality ot that dream home a reality - they are there to profit from people that need to borrow money.

I doubt that anyone would argue this point. Lenders are a business. Businesses are supposed to make a profit, otherwise they dont last as a business for very long. I think even this government still recognises that simple fact, although I do sometimes have my doubts.:rolleyes:

Cashpig74 wrote: »

Unfortunately for the banking industry, they have been uncovered of late as to how much of a profit they have been making out of people, and it is very questionable. So much so in fact, that there are refunds and rebates-a-plenty. They are only there because they are justified.

I don't think that the bank's profits have only been recently uncovered. They have been publishing their results for as long as I can remember. There appear to be three main areas that people are attempting to challenge. 1. Bank Charges 2. PPI Premiums 3. Unenforceable Agreements. Of those three, only the first one appears to be connected to the amount of 'profit' the banks are making.

Cashpig74 wrote: »

Same thing goes for writing off the loans/cards due to improper contracts. It's just the way the business world works - just like if your passport is out of date by a few days, you cannot travel.

If your agreement is not as it should be, they cannot force you to pay continue making payments to them. Its just the way it goes.

I have made my views on this perfectly clear, and believe it or not they are not a million miles from your own - apart from the fact that I have a big problem with the activities of certain parts of the claiming industry in making people believe that 80% of all agreements are unenforceable. This is misleading and will be responsible for many people parting with money they have not got in the false hope that they will be debt free. It aint that easy in most cases.

Cashpig74 wrote: »

Whether you take your rights and use them, is up to you.

Personally, I'll use them all day long as my priorities is looking after my own personal welbeing and my famlliy. They come first.

You are perfectly entitled to your viewpoint, and I respect this. That does not mean I have to agree with them nor be publicly slated if that is the case.

My reason for being on this thread is simply because I think it is a bit OTT for people to publicly air what are obviously ingrained views about lenders by putting them all in the same boat.

petermb_2

Foenix wrote: »

Why don't you go work for Welcome Finance, I'm sure they would love you on the team, to defraud customers and feel happy about it.

Please lets keep personalities out of this. Brock has his viewpoint and I have mine.
We are all welcome to our opinion. Brock is a gentleman, please treat him accordingly and act the same.

petermb_2

Where i disagree Brock is that All the lenders sold PPI with relish. Every single one.
Selling a one fits all product was never going to work and never will. You know that as well as I do. What makes it worse is that in many cases the borrower was cajoled and harried into taking it out. How many were offered a monthly premium alternative? A nice round figure i should imagine.

I totally agree with you that this garbage about 80% of loans being unenforceable is just that. Yes the claims industry, as I have said many times, is full of vipers and crooks. But then we have seen the same in the banking industry too.

Cashpig74

i have no idea why you picked my comment apart. still, i think i have a point but if I addressing the Nation, I would tidy it up a little first.

Cashpig74

So how many agreements would be legitimatly unenforceable then???

Most claims firms state that they have a client success rate of 80%... that is not the same thing as saying 80% of agreements are unenforceable but I reckon there are millions out there...

petermb_2

Cashpig74 wrote: »

So how many agreements would be legitimatly unenforceable then???

Most claims firms state that they have a client success rate of 80%... that is not the same thing as saying 80% of agreements are unenforceable but I reckon there are millions out there...

Most claim firms are charging a fee up front. The more people who believe their loan is unenforceable the better as more people will part with their hard earned money.

Unenforceable loans exist of course but not on the scale that is being bandied about.
It is hard to say what sort of percentage is more acurate but I think 30% of loans prior to April 2007 is far more likely.

Foenix

Having worked for 3 major financial institutions I know the contempt in which they treat customers and the law. What P*** me off is that the assumption that most people looking down this avenue of unenforceable agreements just can't be bothered to pay their debts.

I have spent 2 years living off my brothers couch so that I could repay more then I can afford but still this is not enough and still get threats to be taken to court or on the other hand one of the lenders Welscum fraudulently opening a new loan agreement in my name that they think I'm going to spend 21 years paying off!

I lost a well paid job, because of the crunch I'm now working for min wage. They seem to be quite happy being unaccountable and taking billions of public money so right now no more looking after them, I'm going to look after myself now and if I use an unenforceable agreement then I'm going to be very happy at dishing some back.

Btw I'm only going down this path with two lenders. The two that have shown me nothing but contempt.