Irresponsable Lending

Xbigman

Nitronick wrote:

This was when my wife and I were still together and she did not have access to my account. This was a root cause of the split.

Am I the only one who loves that comment :rotfl:
Regards



X

Nitronick

Tootsie_Roll wrote:

Yet another example where the real fault lies with the partner but it's the bank getting all the blame ! Truly unbelievable.

Get your Wife to take responsibility for her actions or you will find yourself in exactly the same situation again if you can't learn from this mistake and move on.

I can assure you that I have made my wife more then aware of the error of her ways. She was in a situation and went to the bank for help. She trusted the bank to give her sound financial advice that would ease her problems. Not push here further into debt.

Banks prey on those who are not as finanacialy savy as most who regulary post on here. They push extoritonate interest rates onto these people and use vailed threats and sly tatctics to get people to accept such loans along with the rip off PPI the constatntly push for.

How many of us have applied for a loan and found that a large percentage of the time applying for it was taken up with being sold PPI? I know I have and so have many others. Imagine being in a position where you feel you have no choice and the loan seems like a life line that will ease the worry and fear that off handed remarks regarding going to court etc made by bank managers by bank managers have installed in you. Wouldnt you sign any thing they ask you to? Banks know this and constantly push people further into debt.

So Yes My Wife needs to learn more financial sense but the banks can not be allowed to charge over £400 in bank charges over a six month period and then push for such loans.

Nick

lynzpower

See heres the thing I dont get.

If the debt ( in this case the overdraft) had been passed to a DCA and the DCA suggest/pressure/cajole/whatever the debtee into taking out a loan to pay it off, I understood this isnt legal.

but if a bank does it - its OK?

Have I got that right?

Nitronick

lynzpower wrote:

See heres the thing I dont get.

If the debt ( in this case the overdraft) had been passed to a DCA and the DCA suggest/pressure/cajole/whatever the debtee into taking out a loan to pay it off, I understood this isnt legal.

but if a bank does it - its OK?

Have I got that right?

Having never used a DCA (Debt Councling Agency ? ? ?) I have no Idea if that is correct.


Maybe I'm just getting on my soap box because I am in a debt free position,(after many years of being in debt and working long hours) who knows. But i certainly feel that given that there are many other finanacial products on the market that would have suited the needs of my wife. Thankfully, I Hope, I will never put her in that position again and once this complaint is concluded and we have left Lloyds TSB we can concentrate on our future together and avoid past mistakes both financial and personal.

regularsaver1

Hopefully you can repay her debts for her then if you are in a debt free position and inform her as to why this has happened that she signed for

Nitronick

regularsaver1 wrote:

Hopefully you can repay her debts for her then if you are in a debt free position and inform her as to why this has happened that she signed for

Yes I am in the position to do this... JUST! But there is the principle of the matter that I wont let lie.

Nitronick

regularsaver1 wrote:

Hopefully you can repay her debts for her then if you are in a debt free position and inform her as to why this has happened that she signed for

Yes I am in the position to do this... JUST! But there is the principle of the matter that I wont let lie.

regularsaver1

of the matter that she racked up her debt when you were not together?

she racked it up - the loan only replaced the overdraft that she had used

Nitronick

regularsaver1 wrote:

of the matter that she racked up her debt when you were not together?

she racked it up - the loan only replaced the overdraft that she had used

Yes she did "rack" the OD up. My point is why did the bank continuosly allow this? Over half the OD was caused by there !!!!!!!g charges!

Like many on here I am going to assist my wife in getting these charges back. I am pushing to have the PPI on the first loan cancelled and refunded. I have already sorted the 2nd loan and her OD out. Once the PPI issue is resolved can look at getting both of us debt free (Mortgage excluded)

Maybe if enuff people cause a stink like I am then people will not find themselves in the position my wife found herself in and the banks will be forced to change the way they behave. Just paying a debt off will solve the problem but a contributing factor will remain waiting for the next poor sole to come along.

Nick

regularsaver1

If enough people kick up a stink then banks will have to stop overdrafts and loans right?