Illegal Loan/Credit Card Contracts

angel_pie

Hey,

I have a question about the original agreements made with banks regarding loans and credit cards. I have a card and credit card with Lloyds TSB that amounts to £6000. I initially received these when I was 18 years old. I was absolutely broke and I went to the bank for a £100 overdraft. They refused to give me one but offered me the loan instead (the credit card offer came in the post a week later). I was in the bank crying because I just needed £100 to get home for Christmas and they practically forced me to sign the loan contract. Anyway, there was no way I had the funds to pay this back and now five years later, my situation has escalated out of control. I know I can write to the bank to get my charges back but I've heard that if I write to the bank for a copy of my original contract, it may well be illegal and they will just cancel the debt. Does anyone know anything about this?

I would be very grateful for any advice that anyone has to offer :A

uktyler

So zou willingly took the money they offered, but now you don't want to pay it back?
How much was the loan for and what did you spend on the credit card?

Being short of money is no excuse not to pay back what you owe, you took the money and you should pay it back.

Can you work extra hours or get a part time job to pay it?

kinglewis121

So zou willingly took the money they offered, but now you don't want to pay it back?
How much was the loan for and what did you spend on the credit card?

Being short of money is no excuse not to pay back what you owe, you took the money and you should pay it back.

Can you work extra hours or get a part time job to pay it?

why does everyone jump straight into this reply did OP say they dont want to pay it back? no so stop posting these judgemental replies , OP's simply asking that question.
and being short of money is no excuse not to pay it back?????
whats she/he supposed to pay it back with hopes and dreams you cant pay with money you aint got.
as for your answer id say it doesnt seem to work that way anymore OP but with the bank charges id be careful as natwest got really funny with my account when i started sending them charge refund letters and things.

Lewis

uktyler

kinglewis121 wrote: »

so stop posting these judgemental replies , OP's simply asking that question.
and being short of money is no excuse not to pay it back?????

My post offered advice for the OP to pay it back, too many people on here want to get out of paying, and not pay back what they borrowed. The OP states they were broke when they took out the loan, and then applied for a credit card.

I sympathise with people in debt, but most people only have themselves to blame, and then talk about getting the loan written off instead of owning up to their mistakes and finding some way to pay.

kinglewis121

ill be honest i can see where your coming from but we dont really know how bad the situation was when she went to the bank i think its wrong how the bank refused the overdraft but give her a loan?

sounds weird to me

Robert_Sterling_3

kinglewis121 wrote: »

ill be honest i can see where your coming from but we dont really know how bad the situation was when she went to the bank i think its wrong how the bank refused the overdraft but give her a loan?
sounds weird to me

I did not even know she was a girl. How did you know that?

~Brock~

Robert_Sterling wrote: »

I did not even know she was a girl. How did you know that?

Probably an assumption from the OP's screen name, although admittedly nowadays you never can be too sure

CHR15

Whats the difference between an overdraft and a loan?? they both charge interest

The OP doesn't say how much the loan was but lets assume it was at least £100.

Little angel-pie could have taken the £100 and paid the rest back.

Did he/she need to party on to the tune of £6000?? he/she could have cut the credit card up when it dropped through the door.

It's all well and good trying to restrict the judgemental replies, most of which are borne from the posters opinions at peoples attitude to repaying debt and not aimed personally at the OP's.

There HAS to be a line where a child becomes an Adult and is responsible for their own decisions and actions. Perhaps we should make it a birthday or something.

flame away

kinglewis121

Probably an assumption from the OP's screen name, although admittedly nowadays you never can be too sure

True just took a guess i suppose , yeh the judgemental thing yeh theres a point where you take responsibility for your cash , its just puzzling me how ok if they give her a 100 quid loan not a 100 quid OD , but then to offer her a credit card too??? (thats if it was from the bank) it sounds crazy, the bank wont give me a loan or OD and im full time employed and been with the bank years :S
just puzzled lol

kaisersoze_2

kinglewis121 wrote: »

True just took a guess i suppose , yeh the judgemental thing yeh theres a point where you take responsibility for your cash , its just puzzling me how ok if they give her a 100 quid loan not a 100 quid OD , but then to offer her a credit card too??? (thats if it was from the bank) it sounds crazy, the bank wont give me a loan or OD and im full time employed and been with the bank years :S
just puzzled lol

I think it just shows how ridiculous the credit situation and banks decisions were and why the whole world is in the carp it is.

iolanthe07

I did not even know she was a girl. How did you know that?

How many guys do you know who would sign themselves 'angel pie'?