Irresponsible lending? Advice

zppp

Nara wrote: »

The problem about this country atm is no body cares.

Like the mobile phone company that gave my brother a contract phone when he has no money, no job , no nothing and no concept of bills or managing money, so what happened he ran up a £600 bill, sold the phone to a friend and now they are chasing my mum for the money!! lol, even though he is over 18. She is having to get a letter from the doctor to prove he has problems which means no way could he ever have understood clearly the contract or charges and they shouldn't of given it to him when he doesnt have any income :S

Banks are the same tbh, in fact most companies are, they don't care about old people or ripping them off. Makes me sick

Re a mobile phone contract, I have been with 3 networks on contract and I must ask, what business is it of theirs to know my income? They already have to do a credit search for the handset.

Why are they chasing your Mum if the contract was in his name? They will only write to her if she is on the contract. (perhaps he was under 18 at the time and couldn't sign himself)

ILW

Nara wrote: »

Banks are the same tbh, in fact most companies are, they don't care about old people or ripping them off. Makes me sick

Are you saying that anyone over sixty is incabable of looking after their affairs. Probably one of the most patronsing statements I have heard.

bunny999

Garym85 wrote: »

Hi All,

I am in my mid twenties and by complete accident about 18 months ago I opened a letter that was actually adressed to my grandmother- (same initial and surname) to find a letter from RBS saying she had missed a payment on her loan. When I questioned why she had a loan it became crystal clear her finances were in a bit of a mess.

Firstly, She is now 72 years old and lives off a state pension with a little bit of disability living allowance on top. She stays at home in a rented house, therefore has no assets.
I set up an appointment with the bank and her to discuss why she missed the payment and gain a better understanding of exactly where we were.... the meeting that followed astonished me and almost led to me losing my temper.

It turns out, my gran- who would admit herself isnt the startest with money and whilst has more than enough to live off of comfortably- still cant manage her money very well. She has two seperate accounts and switches money between them both as money goes into one account and loan is taken from another (easily managed online but not in her position)

The total unsecured loan amount was around £24,000.
This is the actual amount with interest still being accumulated on a monthly basis.
I asked for statements to understand exactly what money was coming in to the account, what bills needed paid and how much extra there was at the end of the week/month.

It is now 18 months on and the £24k + £2k from another lender = £26k now looks like £11k.



My question is, I asked the bank how long the loan would take to pay at the current rate(18months ago) and the girl couldnt work it out. I did a quick sum that it would take around 10 years.

Does anyone else agree that this is utterly irresponsible lending on the banks behalf? For me, having a widowed lady in a council home in her 70s with, in total £35k debt that will take minimum 10 years to fully repay is nothing short of a joke. nobody in my family knew about this, therefore the potential is that this could have landed at one of our feet if the very very worst should have happened.
I appreciate that my grandmother is wrong to have taken the money. She doesnt like using ATM machines and has told me this figure has mouted up as a result of the bank teller asking her if she would like an extension to her loan....


Finally, can anyone direct me as to where I can complain to the bank- the bank manager must have a decimal point before his IQ as he was utterly useless.

The only losers in this case would be the bank. If someone has no estate then any debts are written off. What did your Gran do with £35k ? Hope she had a good time. I'd say (as she unlikely to pay all the money back) that she has done quite well out of the bank's generous lending.

NeverEnough

magpiecottage wrote: »

As we get older, our mental capacity does decrease but your Gran was 70 when you first found out about the loan which had, presumably, been going for some time. The vast majority of 70 year-olds still have good mental capacity so I think you will have an uphill struggle.

What????? In whose opinion????? That is absolutely NOT the case and a dreadful thing to say about any adult - in these terms, a 20 year old has "more" capacity than a 70 year old, which is absolutely not the case!!! The Mental Capacity Act 2005 very clearly states that all adults are DEEMED TO HAVE CAPACITY UNTIL PROVEN OTHERWISE. Not "more" or "less" capacity than someone else - there is no such thing!! You either have capacity or you do not.
And in order to prove the lack of capacity, a doctor or other Approved Clinician would have to be involved, or a registered Deprivation of Liberty Safeguards assessor. In law, however, any doctor can make an assessment of capacity. In older age, SOME people develop dementing illnesses or other afflications which affect their capacity, but certainly not all. And I have seen dementia is someone as young as 30, so it is NOT limited to older age adults!!! What a dreadful and completely inaccurate generalisation about the capacity of adults :eek::eek::eek::eek:

p00hsticks

inmypocketnottheirs wrote: »

Reported as :spam: please do the same.

The problem is that as you've quoted the entire thing, it's all still there in your post even though the original has now been removed.

I've therefore also reported yours as spam just to get rid of that copy....

inmypocketnottheirs

p00hsticks wrote: »

The problem is that as you've quoted the entire thing, it's all still there in your post even though the original has now been removed.

I've therefore also reported yours as spam just to get rid of that copy....

Don't worry, I have just removed it!

Should I know report your message as spam? :rotfl:

chesky369

"As we get older, our mental capacity does decrease "

As a pensioner who now advises at CAB, I find this rather patronising, since much of my time is spent with people in their 20s and 30s who have run up enormous debt and can't quite understand either how it happened, or how to fix it. God help them if their capacity decreases - as I don't really think it could get much lower than it is already.

geoffky

chesky369 wrote: »

"As we get older, our mental capacity does decrease "

As a pensioner who now advises at CAB, I find this rather patronising, since much of my time is spent with people in their 20s and 30s who have run up enormous debt and can't quite understand either how it happened, or how to fix it. God help them if their capacity decreases - as I don't really think it could get much lower than it is already.

classic reply......one of the best..:rotfl::rotfl::rotfl: