Personal loan advice

mumbot22

If I take out a personal loan for say home improvements, but I use the money for another purpose, are their any legal implications. Is it fraud or could I just say that I changed my mind and didnt want a new car so I spent it on something else instead?

Apples2

Why don't you just tell them what you want it for?

DCFC79

Apples2 wrote: »

Why don't you just tell them what you want it for?

But then the lender could get rejected apples,

Apples2

DCFC79 wrote: »

But then the lender could get rejected apples,

More chance of the borrower getting rejected than the lender :j:beer::j

Bravehearted_2

Oh, I know this one - boobjob.

Lying to get funds is the definition of fraud isnt it?

KingElvis

Porkies always find you out too...saying that, big jubblies are ftw

BugsyBrowne

mumbot22 wrote: »

If I take out a personal loan for say home improvements, but I use the money for another purpose, are their any legal implications. Is it fraud or could I just say that I changed my mind and didnt want a new car so I spent it on something else instead?

The banks wouldnt give a monkies ar*e How the money was spent Aslong As you were paying them back.

blacksta

It is one of those grey areas. The real question remains " can you afford to pay the loan back "

DCFC79

Apples2 wrote: »

More chance of the borrower getting rejected than the lender :j:beer::j

I meant the borrower lol