How to prove a bank gave a loan irresponsibly

27col

o4u You seem to have missed the fact that my entire post was meant to be ironic.

opinions4u

27col wrote: »

o4u You seem to have missed the fact that my entire post was meant to be ironic.

Sorry ...

skintandscared_2

I think when the whole banking crisis kicked off, and "irresponsible lending" started being talked about, people unfortunately took that to mean that they would have some recourse to those naughty banks and their irresponsibility.

Banks have now tightened up their lending policies and I'm certain that the OP's client would NOT have been given a loan in today's climate. But that doesn't mean that the banks did anything illegal or unlawful in giving her the loan at that time, based on the old lending criteria (i.e. prety much if you had a pulse...!)

I do have sympathy - I was allowed to totally over-commit myself financially but I signed the paperwork and there was no gun to my head. I'll be paying it off for a while yet but finally have learned how to live without credit

It is very kind of you, as a volunteer, to give up your time in helping people sort out their financial issues but I think the time's probably better spent directing the lady to a free debt counselling service who can advise on how to repay the loan in a way she can afford. The bank won't be writing it off or admitting they probably shouldn't have lent it in the first place. She wasn't forced to take it out, or spend the money...

moneywisemummy

thank you everyone, I'll pass the info on.