Banks discriminating against the disabled!

Extant

jennytiger wrote: »

If it is your only income i think it should act as a good security as it is a steady income unlike a job inclome which is not safe especially in todays climate.

Benefits aren't a set and stable source of income. Indeed, neither are jobs, but long term employment/contracted employment is far more indicative of stability and ability to pay.

~Brock~

BarclaysManager wrote: »

Damn if you do, damn if you don't. The public slam banks for lending irresponsibly, but then get emotive in cases such as these and say there's not enough help. They're not lending precisely because it is irresponsible to lend to somebody without a fixed income that lives off benefits.
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I completely agree with you.

Also, should the borrower default on the payments, imagine the negative publicity that would be generated from attempting to enforce the agreement through the courts.

This does not just apply to disabled customers, but anyone whose income is made up from benefits.

RobertoMoir

d.chatten wrote: »

Hi all,

I am permanently disabled and i receive DLA (Disability Living Allowance), ICA (Invalid Care Allowance) and Income Support, i have recently been trying to get a loan from two different banks.

The first bank is HSBC which i also have a current account with, also a credit card, debit card and a cheque book, i have been refused a loan for reasons unknown, my credit report from experian is fine, no defaults on any payments and no bad debt at all, even experian say they can't understand why i'm being refused as my credit report is fine, could this be discrimination against the disabled? if so what an i do about it?

The second bank was the Halifax which i have a credit card with, when i applied for a loan i was told that they don't accept DLA, ICA or Income Support as a form of income, the thing is, this is the only form of income that i receive, also, my credit report is as above (fine), again, could this be discrimination against the disabled? if so what an i do about it?

Thanks!

I seriously doubt that these banks are refusing to loan to you because of a disability.

They have a criteria for lending - a quite strict one just now with everything going on, I should think - and you simply don't meet this. They have to think about income, how the debt will be repaid, their options for enforcing debt collection should the worse happen.

This isn't discrimination - if you had a disability but were employed or otherwise able to show good enough income to service the debt, I'm sure they'd be happy to accept you.

max2009

If you can afford to have a loan and make repayment interest then you must be getting too much benefit.

RobertoMoir

max2009 wrote: »

If you can afford to have a loan and make repayment interest then you must be getting too much benefit.

obvious troll was obvious.

dmg24

max2009 wrote: »

If you can afford to have a loan and make repayment interest then you must be getting too much benefit.

Benefits can provide a very healthy income, and it is not for us to judge how much someone should be entitled to.

With regards to the OP, I see no grounds for claiming disability discrimination.

max2009

RobertoMoir wrote: »

obvious troll was obvious.

Stating the obvious what many would think.The bank is not discriminating it is just due to the current recession and what a risk someone on benefits would be for a loan.

ankor34

Don't apply for a loan as a person apply for a loan as a business!! Its very easy to build business credit. Get incorporated and then take about 3 months to build your business credit by getting credit from companies that will allow you to purchase office supplies via credit. So you could build your business credit up very easily by buying staplers and printing paper and what nots. Don't waste ur time with law suites. He who holds the money makes the rules , so start building an excellent credit file with your business. Its just takes literally about 3 or 4 months. No BS.

dmg24

ankor34, please remove the link in your signature - they are not allowed.

d.chatten

I'm not saying that the banks are discriminating against the disabled, i was asking, is it possible, as for the comments about to much benefit, if you can't work because of a disability the only option open to you is benefit, if someone is disabled and can't work does that mean they have to live a lesser quality of life because they are disabled and on benefit?, also, what amount of benefit is too much benefit?