16 year old in £2000 debt

cgk1

convoluted and difficult

Actually this indicates that there is nothing convoluted and difficult about Wonga's credit checks and there must be serious holes in it if a 16 year-old can pass a credit check by simply changing their DOB.

Gordon_Hose

cgk1 wrote: »

Actually this indicates that there is nothing convoluted and difficult about Wonga's credit checks and there must be serious holes in it if a 16 year-old can pass a credit check by simply changing their DOB.

That makes it OK then.

ghostmadlittlemiss

Sorry, I must have missed the part where the OP asked for an analysis of the lending policies of payday loan companies. Could someone point it out to me please?
Kayleigh

cgk1

Gordon_Hose wrote: »

That makes it OK then.

Just stick to what I actually post, not what only exists in your head.

timbstoke

Avoiding the fraud/age argument, how much did he ACTUALLY borrow? Yes, he's liable to pay it back, but he cannot legally enter into a credit agreement. Therefore, if he borrowed £1500 and the £500 is interest, his best approach would be to get a suitably assertive adult to contact Wonga on his behalf, point this out, and offer them a return of *only* the principal amount - take it or leave it. He walks away without a fraud charge, and they walk away without the world knowing how shoddy their application process is. Everybody's happy.

This will of course involve your friend selling whatever he bought with the money, or if it was spent on drink/drugs/women/gambling, selling other things to get it back.

Gordon_Hose

cgk1 wrote: »

Just stick to what I actually post, not what only exists in your head.

Same goes for you.

BoroPhil

a 'friend' ?

BigCraigJohn

timbstoke wrote: »

Avoiding the fraud/age argument, how much did he ACTUALLY borrow? Yes, he's liable to pay it back, but he cannot legally enter into a credit agreement. Therefore, if he borrowed £1500 and the £500 is interest, his best approach would be to get a suitably assertive adult to contact Wonga on his behalf, point this out, and offer them a return of *only* the principal amount - take it or leave it. He walks away without a fraud charge, and they walk away without the world knowing how shoddy their application process is. Everybody's happy.

This will of course involve your friend selling whatever he bought with the money, or if it was spent on drink/drugs/women/gambling, selling other things to get it back.

Probably the most sensible post in here.

He's gonna be chased for it but chances of them taking legal action are zero to zilch especially if they find out he was a kid.
To be honest its fraud so I think his best bet would be to confess his crime and point out that the agreement was actually unlawful because of his age.
Offer to repay what he borrowed at an amount he can afford or if they are not happy invite them to take legal action.
Id say its in everyones interest that they accept the offer. I mean they are hardly legit and likely to go running off to the police.

We all do stupid things as a kid and you can bet your life he has learnt his lesson.

Blame the schools for wasting time teaching god and drama rather than banking and other more important life skills.

cabbage

The debt may be enforceable, under 18's can enter into a contract but it all hinges on what the purpose of the loan was

see here http://www.adviceguide.org.uk/index/your_world/consumer_affairs/young_people_money_and_consumer_rights.htm#debt

I think he needs to get specialist advice to challenge the enforceability of the debt but by doing so he may he exposes himself (!) to a fraud allegation. he also needs to learn that you can't just borrow money willy nilly and expect not to have to pay it back. Its not a good life lesson.