MSE News: Credit application system is flawed, MPs told

jimarie

Well done MSE for challenging this mafioso type scam, I have learned the hard way, particularly with Alliance and Leicester after applying for an advertised 10% interest rate personal loan, to be refused, and then within an hour to be inundated with subsidiary companies calling me at home offering a loan at 3 times the parent company advertised rate, absolutely shocking, and they should be taken to court, but we all know that will not happen, and it does not surprise me that the banks do not want this golden goose's neck wrung.

heloid

Was interesting watching the committee meeting.
CRA's and the BA, FLA tried to hide the problem.
Then the OFT seemed to cover their !!!!!! for not being aware of the problem.

At least it is out now, good work Martin & Toby.

Joe_Bloggs

I was wondering, do we need a credit reference agency policing ? The acronym is a bit off-putting.
The OFT has let several alleged super-complainants merge to form Consumer Focus. The last word is probably a mis-pronunciation.
Perhaps the OFT could be persuaded to let Never in Doubt take a shot as a super-complainant.
J_B. (Only my well meant thoughts.)

tealady

Well done to you and Toby, you really gave those *ankers a run for their money.
I agree that money advice should be a subject in schools, it would have saved me a fortune.

never-in-doubt

Joe_Bloggs wrote: »

Perhaps the OFT could be persuaded to let Never in Doubt take a shot as a super-complainant.

Lol, I don't know quite how to take that (am I a complainer or good for the fight?)... :rotfl:

But i'd willingly become a super complainer, after all, the CRA's must shudder when they see my name (the number of times i've had em squirming!)... Funnily enough, my SAR from each 3 CRA's showed a note saying 'refer all correspondence to' and then a specific name! Its also said 'do not correspond directly' cos they know i'll just rip apart whatever they send me and then respond in kind criticizing each incorrect point (usually the whole letter)....:rotfl:

Joe_Bloggs

@Neverindoubt
Super-complainants are diminishing, I had earlier thought that a sub-section of the members of the MSE forum could have undertaken the role as a super-complainant.
We will just have to get by with individual testimony to parliamentary committees.
J_B.

PROLIANT

Any updates Martin?
Are the government going to move on this or is it another red herring?

Regards

Pro

PROLIANT

PROLIANT wrote: »

Any updates Martin?
Are the government going to move on this or is it another red herring?

Regards

Pro

Any news yet

noah271007

It wouldn't be a surprise if this is another red herring from a labour govt. All talk and not walk the walk.

Excellent points Pro and Nid (posts 9,10 and 11).

PROLIANT

Read:

http://www.publications.parliament.uk/pa/cm200910/cmselect/cmtreasy/197/197.pdf

Mr Lewis gets a mention in here.