Can Anything be done?

jaja_3

I'm a bit nervous on posting this one, so please be gentle with me...

I just read on another thread about a similar situation and got me wondering..

A couple of years back the OH had to give up work on health grounds, we got into a lot of difficulty which later was sorted out with the help of the CAB, we will be paying off our debts till we are 193, but learnt a lot from the experience.

One of the debts is a loan from a high street bank, who telephoned my husband and threatened him with 'jail' if he did not take out another loan to pay off his business overdraft and another loan from them. Hubby was on anti depressants at the time and at a very low ebb. He felt he had no choice but to agree the paperwork came through the post, which he had to sign and send back, he never set foot into the bank and certainly did not request another loan we could not pay.
The loan is currently being paid back by arrangement at £67 per month, I did tell our CAB adviser of the circumstances but she seemed to think we would not be able to proove anything so not worth challenging.
having just read on this forum how wrong this is of any financial institution which I suspected it was anyway, just wondered if there is anything can be done, or is it too late now?
Or as I was told by the CAB we have no proof this happened as it was all done by telephone, is it one to be put down to bad experience?


Just as an aside, anyone who is having difficulties the CAB were fantastic with us - without them we would have lost our home, she did all the leg work for us and talked to the more difficult lenders such as the bank above who we also still have our mortgage with. On the advice by reading this site I have already contacted a 'whole of market' adviser to see if we can remortgage.

Thanks for reading, and please be gentle.

Jaja

file_wizzard

Hi,

Legally (and morally) the loan sounds as if it has been inappropriately sold, unfortunately as is often the situation in cases like this it will be a “your word against theirs” , and unless you can actually prove beyond reasonable doubt that the loan was miss sold you then you are going to be on a bit of a loser.

If you can obtain copy’s of the original recording then this would help, however these are virtually impossible to get released unless demanded by a court, and also if the call was made at branch level it is highly unlikely that these would of existed in the first place.

Sorry I cant be more positive, however it would seem there is little recourse in situations like this

jaja_3

Thank you File-Wizzard - thats what I thought, just upsets us whenever we think about it now, we try not to.

Maybe I should 'name and shame' the bank responsible, as we feel we have been treated very unfairly by them for years. Needless to say we changed all accounts from them, just struggling to change the mortgage now due to previous arrears we are still paying.

Thank you for reply anyway.

Jaja

southernscouser

jaja wrote:

Thank you File-Wizzard - thats what I thought, just upsets us whenever we think about it now, we try not to.

Maybe I should 'name and shame' the bank responsible, as we feel we have been treated very unfairly by them for years. Needless to say we changed all accounts from them, just struggling to change the mortgage now due to previous arrears we are still paying.

Thank you for reply anyway.

Jaja

Definately name and shame them. You might help someone else in a similar position!

Willsnarf1983

file_wizzard wrote:

Hi,

Legally (and morally) the loan sounds as if it has been inappropriately sold, unfortunately as is often the situation in cases like this it will be a “your word against theirs” , and unless you can actually prove beyond reasonable doubt that the loan was miss sold you then you are going to be on a bit of a loser.

If you can obtain copy’s of the original recording then this would help, however these are virtually impossible to get released unless demanded by a court, and also if the call was made at branch level it is highly unlikely that these would of existed in the first place.

Sorry I cant be more positive, however it would seem there is little recourse in situations like this

if it was recorded surely under the freedom of infomation act they ahve no choice but to give it to you?

Will

jaja_3

Well, if you really insist SouthernScouser:D Its the RBS we are talking about.

Only too happy to help anyone else. As was already said in the other thread I was reading, they are NOT allowed to do this, and as for the threat of jail we now know this was rubbish too, at the time though whilst sinking and very afraid we did not, which is of course what they rely on.

Jaja

skylight

Jaja,

Although that level of stuff has never happened to me/us, if only I knew then what I knew now. I would never have let any of them intimidate me over the years and the blatent lies I was told by creditors/banks etc.

Until you find a place like MSE, you just assume that what these people are telling you is the truth - a big organisation wouldn't lie to you, would it?

But as to your problem, with proof, I don't think that there is a lot you can do, but a well worded letter to the chairman might make you feel a bit better.

jaja_3

Thank you Charlotte:D

You might have a point there, I was going to ask if anyone had any ideas were I could start. If there is nothing I can do then, you are quite right - it probably would make me feel better, as has posting here to show otheres:D

I have been listening to Martin on Radio 2 for some time now, sadly not at the time we were going through all the strife, or before that when we foolishly let the RBS talk us into two remortgages and about a further three loans:rolleyes: We also foolishly went for a consilidation loan elsewhere - oh dear:o
What it has taught us is most of the rules now, and how to help anyone we know avoid going down the path we did - happily we have just helped out some dear friends with our story.

so, were do I find the chairman then?:D

Jaja