irresponsible lending??? Need some advice

PROLIANT

Sol00 wrote: »

Why is that relevant?

Because the money has been borrowed from a bank - where is the money? Spent it? Oh yes we forgot that little detail, if it was the lenders fault then the data should be amended asap to make sure the OP has his/her credit files updated accordingly - and repay the bank what they legally owe them, if however this is a case of...oops, I used a different name other than my own, then the OP will be looking at a criminal record for fraud. I am not implying that the OP did this however I am just showing the other side of the coin so to speak.;)

iceman28

Hi Anniecave,
At the time I applied we did live at the same address and we do have the same surname and first name initial. However on all my correspondance I have always completed applications etc with my middle name also (Stops problems with the post).....

They did credit check the wrong person, lent me the money assuming I was okay.....

iceman28

PROLIANT wrote: »

Because the money has been borrowed from a bank - where is the money? Spent it? Oh yes we forgot that little detail

Do you often come across people who borrow money from banks etc, then leave it sitting in their account without spending it? Seems a little strange to me that one..... hey hum!!! Each to their own.....

Apples2

Is it completely beyond your mental capacity to simply save the money you WOULD have been paying each month??

You make it obvious that just because the bank say "don't pay anything until this is resolved" that you do not need to EVER pay it.

Why don't you give the money back??? Oh Yes! you splashed it about and spent the lot.

"Be nice to money savers".... I don't think it includes the OP.

iceman28

Apples2 wrote: »

Is it completely beyond your mental capacity to simply save the money you WOULD have been paying each month??

.

When did I ever say I didn't have the money? I think if you read the full posts, rather than just the last one I think you will find the said bank have said DO NOT make any payments until the issue has been resolved - WE WILL CONTACT YOU WHEN RESOLVED and you can arrange to make the payments!

epsilondraconis

This expands a little on the predicament in which Iceman finds himself:

http://forums.moneysavingexpert.com/showthread.html?t=1647401&highlight=

Apples2

iceman28 wrote: »

When did I ever say I didn't have the money?

In post 1

I know I will struggle when I have to start repaying,

So that suggests you NEVER did have ANY money (or intention) to ever pay ANYTHING back for this loan YOU TOOK OUT irrespective of the mistakes about ownership??

CLAPTON

Sol00 wrote: »

Why is that relevant?

It would seem to me that the full facts are not entirely clear here and I always feel that it's best to know the full facts before leaping to conclusions and where the money went is potentially one small link in the unclear chain.
Others of course occur

But anyway the answer to the question based on the information available is No the loan wasn't mis-sold but who knows it may be unenforceable.

byebyedebt

Going back to the original thread. It still isn't irresponsible lending. Presumably they told you what your monthly payments were before the money was lent to you, and you agreed to this when you took the loan out.

I can guarentee that by not making repayments now, in six months time they will probably be chasing you for extra interest. Do you have anything in writing that says don't pay? If not protect yourself and get it because you will no doubt be argueing with a different branch of the bank, who will want the repayments. In the meantime, put the money aside.

Not being nosey but have your circumstances changed, so that you can no longer pay the loan. If so, look at some of the other boards for help.

iceman28

Apples2 wrote: »

In post 1



So that suggests you NEVER did have ANY money (or intention) to ever pay ANYTHING back for this loan YOU TOOK OUT irrespective of the mistakes about ownership??

I said I would struggle - NOT that I couldn't make the payment. I have NEVER missed a payment on anything and have a superb credit file..... I had made every payment on date/time up until said bank advising they had no record of me on their systems!