Mis sold loan

Hackery

Sorry new to this site didn't realise I had to account for what the money went on, well actually it went on life and enjoying it, which you see is something that I do. Was told that this was a pretty decent site to get information on various money related problems, but seems to me that apart from a couple of 'normal' replies there are a lot of people out there just sat at their computer all day waiting to jump in and write abusive comments. Well sorry life has been so cruel to you and hope that one day you will find something more useful to do with your time like I have. Mine is only a money issue sorry about yours.!

PS Thanks Spunko2010 for the helpful advice

ladylumps45

come on everyone.why are some people always so ready on here to jump at someone thats asking for advice and help in their situation?
nobody is that perfect in life that they have never done something wrong.
hackery is in a situation and has been repaying the loans and now is struggling.i dont know why if people cant say anything constructive on this forum ,they judt keep their mouths shut unless they are perfect,angelic people of course:A(which noone is!!)

Hackery

I don't understand why the word fraud has come up so many times I did not hide the fact that I was on DLA and indeed still am it was the telephone advisor who told me that they would put it down as a pension because there was no 'box' for DLA and yes to CHRI5 did have a bit of a clue that I would possibly have to do my part by paying the money back I'm clever like that, and actually up to recently when I had to apply to the debt advice agency to steer me in the right direction I had not and still have not missed a payment albeit now a reduced one. So you see I will be paying every penny back, eventually. Hope you sleep better now.

oscar52

I am struggling to understand the number of self righteous people on these boards at present.

I dont think what the OP did constitutes fraud, but maybe was a little naive - but i think enough has been said.

And to all those throwing accusations, how many of you have been exactly accurate when applying for credit??

Ie - did you actually earn £18000 or did you earn £17891.56p

have you lived in your house for 20years, or have you lived there 19 yrs 5 mnths and 21 days?

Unless you were exactly truthful, then you too lied (and obtained money by deception with respect to your own moral high ground)

These forums are to help people, not to judge - sadly, i dont think everyone realises this.

Tiddlywinks

Hackery wrote: »

I don't understand why the word fraud has come up so many times I did not hide the fact that I was on DLA and indeed still am it was the telephone advisor who told me that they would put it down as a pension because there was no 'box' for DLA and yes to CHRI5 did have a bit of a clue that I would possibly have to do my part by paying the money back I'm clever like that, and actually up to recently when I had to apply to the debt advice agency to steer me in the right direction I had not and still have not missed a payment albeit now a reduced one. So you see I will be paying every penny back, eventually. Hope you sleep better now.

You borrowed the money, you say you spent it on "life" and enjoyed it - good for you. So, now all you have to do now is live up to your original intention of paying it back and, well, pay it back.

You did intend to keep to the agreement didn't you, otherwise why sign up to it?

I'm sorry for you in that you're finding repayments are difficult but why is this the lender's fault or the broker's fault? Why do you think the loan was "mis-sold"?

You're an adult, take it on the chin, move on and stop trying to wriggle out of paying.

Tiddy

Tiddlywinks

oscar52 wrote: »

I am struggling to understand the number of self righteous people on these boards at present. Perhaps we're just fed up with people not taking responsibility for their own actions - in this case the signing up for a loan and then claiming it was mis-sold.

I dont think what the OP did constitutes fraud, but maybe was a little naive - but i think enough has been said. Naive? Oh, that's OK then - no need to stick to the repayments.

And to all those throwing accusations, how many of you have been exactly accurate when applying for credit??

Ie - did you actually earn £18000 or did you earn £17891.56p

have you lived in your house for 20years, or have you lived there 19 yrs 5 mnths and 21 days?

Unless you were exactly truthful, then you too lied (and obtained money by deception with respect to your own moral high ground) Rubbish - there is no intent to deceive in these examples - just approximations.

These forums are to help people, not to judge - sadly, i dont think everyone realises this. But these forums (fora?) should NOT be here to pat people on the head, say "there, there" and then incorrectly back their belief that they are victims rather than point them to their actual obligations either.

My comments are shown in red.

Tiddly

marshallka

Hackery wrote: »

Hi was just wondering if anyone had heard of this before. I took out some loans a fair few years ago whilst on benefits i.e. DLA I was up front about this and he (the loan advisor) told me that they would put that down as a life pension as I had been awarded it for life. I took this as it was o.k. to say 'pension' when renewing these and further loans throughought the following years it was so easy. I am now struggling and making payments through payplan, but with hindsight I am annoyed that I was allowed to 'up' so easily my loans. I appraoched CAB and they have told me that I have actually been missold the loans and to go down that route anyone any advice. p.s. I did not take out the insurance as was now offered it as they knew I was not and would not be working.

Thankyou Hackery

It seems to me you were misled by the loan advisor here. If you told the truth and they said that it was OK to be put down as that then I cannot see how YOU have actually done anything wrong. You followed the advice of the loan advisor. Could you perhaps get proof of this loan advisor saying all this? Would you be able to get copies of phone conversations or documents from when they were sold perhaps? I am no fan of people lying on applications myself but really and truely on this one I fail to see what you have done wrong and cannot understand anyone saying or judging otherwise.

CHR15

The DFW Board is for support and help, not judgement.

The people in there have already been whacked with the reality mallet and don't need people swinging it anymore.

In these forums, people haven't had that "lightbulb moment" and sometimes need an e-slap to wake up to their responsibilities.

If a loan is incorrect, crack on and claim it back, but please don't willingly and intentionally ask for money and get all grumpy blaming everyone else for having to pay anything back.

We could all hug and have an e-orgy but it isn't going to help
:grouphug::grouphug::kisses3::kisses::kisses::iloveyou:

oscar52

Originally Posted by oscar52
I am struggling to understand the number of self righteous people on these boards at present. Perhaps we're just fed up with people not taking responsibility for their own actions - in this case the signing up for a loan and then claiming it was mis-sold.

I dont think what the OP did constitutes fraud, but maybe was a little naive - but i think enough has been said. Naive? Oh, that's OK then - no need to stick to the repayments.

And to all those throwing accusations, how many of you have been exactly accurate when applying for credit??

Ie - did you actually earn £18000 or did you earn £17891.56p

have you lived in your house for 20years, or have you lived there 19 yrs 5 mnths and 21 days?

Unless you were exactly truthful, then you too lied (and obtained money by deception with respect to your own moral high ground) Rubbish - there is no intent to deceive in these examples - just approximations.

These forums are to help people, not to judge - sadly, i dont think everyone realises this. But these forums (fora?) should NOT be here to pat people on the head, say "there, there" and then incorrectly back their belief that they are victims rather than point them to their actual obligations either.

Tiddlywinks wrote: »

My comments are shown in red.

Tiddly

Responsibility? What about the lenders responsibility of affordability over profit? - would we be in the situation the country is in this had been followed? OP took advice from the lender - Was he/she (the lender) showing resonsibility (or just seeing £ signs for the pay cheque)

OP has clearly stated they are making repayments through payplan - so not avoiding debt - your comments here are unwarranted - it must be nice to come from a rich background.

How can you approximate your income? - can you guarantee your job for the next 12-18 months? probably not at present.

Your last comment is also unwarranted. As stated OP came here for advice, not have abuse hurled at them stating what they shoul/shoulnt have done and what the are guilty of - they want advice, not sympathy.

Finally, thank you for pointing out that your comments to my original post were in red. In nearly two and a half years and over 1000 posts, I had realised the significance of this "red writing" used :rolleyes:

CLAPTON

Hackery wrote: »

Hi was just wondering if anyone had heard of this before. I took out some loans a fair few years ago whilst on benefits i.e. DLA I was up front about this and he (the loan advisor) told me that they would put that down as a life pension as I had been awarded it for life. I took this as it was o.k. to say 'pension' when renewing these and further loans throughought the following years it was so easy. I am now struggling and making payments through payplan, but with hindsight I am annoyed that I was allowed to 'up' so easily my loans. I appraoched CAB and they have told me that I have actually been missold the loans and to go down that route anyone any advice. p.s. I did not take out the insurance as was now offered it as they knew I was not and would not be working.

Thankyou Hackery

returning to the original post for a moment.


When the CAB adviced that you had been missold the loan, did they outline the process for gaining any redress for this?
I ask as there's clear processes for dealing with misselling investments and pensions but I'm not aware of any general redress for misselling loans.