am i just grasping at straws..or have i got a case ?

COOLTRIKERCHICK

hi.. mrslawrance 2003.....no need to be sorry...as it is constructive...and yes i totally agree... that i have got to be prepared for questions similar to what you are saying..


at the moment...its just seeing where we stand, and to try and find out exactly how much charges were charged over the 5 years... and to see how often and when the loans were had. and how much over the overdraft he was at the time ( hope that makes sense..)

unfortunately.. my hubby is one of these.. keep things to himself.... and would not go to the doctors.. he just basically blanked it like.. the shop ever existed.....and that it would all go away.....so i now i deal with the debt... like i deal with all the household expenses....

at the end of the day.....i am paying the £268. a month to the bank and have never missed a payment...and i have this for another 8 years....so i do feel looking into this situation a bit further.. is an option....

climbgirl

I'm not exactly sure which case you're asking about - claiming back bank charges or suing for unethical lending.

By all means, try and claim your charges back. Rightly or wrongly, they seem to be giving personal charges back, so it's worth trying to claim charges on a business account as well.

As for your unethical lending case, I don't think you've got a leg to stand on and frankly I can't believe you're actually thinking of doing this! Unethical lending is meant to protect pensioners, people with mental illnesses etc. Not people who start a business, then find it doesn't do as well as they'd hoped. You can try, but you'll be wasting more money in legal costs.

Mark7799

From the way I've read your posts, it doesn't sound as if you have a case on the ethics of the lending as it seems all the Bank were doing was consolidating existing debts with them (new loan to cover existing loan and overdraft etc) and no new money being lent except maybe an initial loan. Certainly try the charges angle but I suspect in response to lending, all they will say they were doing was "tidying up" existing situations (unless I've misread your posts)

COOLTRIKERCHICK

hi.. thanks for your comments climbgirl.....

maybe i have picked the wrong word to discribe it unethical....indiscriminate lending then....basically lending money when there's.. no . or not enough income to warrent issuing the loans.......

yes i have thought of it.. as its not making any sense to me how banks can lend money personal or business...when there is obviously a problem.. with the business...and lack of funds going in to cover the loans that are being authorised....

at the end of the day....i have to pay £268 every month for the next 8 years ( 10 in total ).....

and the way i am looking at it.. when i find out exactly how charges were made by the bank...these could have been a major factor in him increasing overdrafts..and taking out loans....and then paying loans and interest on them....like a snowballing effect.....
then i think i am justifled in thinking the way i am thinking...

i dont think there is anything... wrong with questioning a system...of charges ....lending.....etc.....whether its on a personal or business level......

if i cant claim the charges.. or do anything about the loans.. then so be it....but there is nothing wrong in asking and finding out......

as lets be truthfull here could anyone say a few years ago.. that you could have claimed money back for endowment policies mis-sold.. and bank charges being claimed back.....just because they are huge companies... doesnt mean their ethics.... and proceedures are allways right..and cant be questioned..

thank you for your thoughts..and answeres....as each one will make me think of it from a diff angle...

COOLTRIKERCHICK

thanks mark 7799.......ye i can see the point there....for the tidying things up....

climbgirl

I completely see what you're saying cooltrikerchick, but I still think you're wasting your time - look at this from the bank's perspective in legal terms. If they wipe your loans because you've claimed they've lent money that you/business couldn't afford, imagine the precendent that would set and the floodgate of cases that would emerge from it. I hate to say it, but you haven't got a snowball's chance in hell!

The only reason they're giving back bank charges is because they've been forced to by the regulator. And now that the claims are flooding in, I think that will change very soon. They'll start taking the cases to court in the very near future I'd imagine, they're already closing accounts and changing interest rates as a result of claims.

Nothing has been missold here (like endowments etc) - it sounds to me like they're loans that have been consolidated etc. Maybe the business wasn't making enough to cover them, but any legal case would flip that back on you and say why did you apply for them?

I'm sorry, but saying banks shouldn't have lent the money to you isn't enough of a case for misselling/unethical lending, whatever you want to call it. If you want to be the case that tests this in court, go ahead. But be prepared for a long and costly legal fight - they'll fight this precedent tooth and nail.

COOLTRIKERCHICK

thanks climbgirl for your comments......yes being totally realistic ...yes i havent got a snowball's chance in hell..

and as my heading says.. am i clutching at straws....which being totally honest.... i know i am....

but it just doesnt feel right and justified.......

as i say i am prob.. cutching to those straws to tight...thinking that maybe they will break in my direction......but if there is an out come in my favour or not. i will keep you updated..

climbgirl

I don't really understand who you're going to complain to though, when you say there might be an outcome in your favour? Are you just going to ring the banks and ask them to wipe the loans as you feel they were unjustified/unethical in lending to you? Or are you lodging a complaint with the FSA, or taking a case through the court system?

COOLTRIKERCHICK

when i get the bank statements loan agreements etc... i will see how much charges have been charged.... and sa i said earlier.... see when the loans were made etc..... and then take it from there......

climbgirl

Bank charges, fine - you can claim those through the proper channels, somebody has posted the link above. You do need to follow the proper procedures though, they will throw out the claim if you don't, so read the FAQs first.

Don't confuse this with claiming back your loans on the grounds of misselling/unethical selling. There isn't a bank in the country who will wipe off a £20K loan on the grounds you've laid out in this thread.

If you are clutching at straws as you say, I'd post your full SOA or contact Payplan or CCCS for some help. These loans aren't going to go away so you will need to come up with a viable plan to pay them back.