mis sold loan

myfriendmartin67

Thank you very much for making my post readable to others, I was typing fast and getting a bit carried away but wanted to explain as much as I could about my situation and didn't realise grammar and spelling was in the ts&cs of joining the forum.
As for the negative comments made you people should get a life than sit on forums waiting for a chance to !!!!! about what you read, I am a strong minded person so see you all as pathetic but your comments could make a fulnerable person feel very low about themselves and their debt.

myfriendmartin67

A year away from being debt free as I pay them, I just asked for a little advice as it was 6 years ago when the loan was renewed over a period of 7 yrs but if you care to read my original post about it you might get the point. I wasn't asking how to get out of paying it off just if I had a mis sold case but their are a lot of ignorant people on here who comment on posts without reading them first.

myfriendmartin67

That last comment was a reply for vickipollard.

myfriendmartin67

maginot wrote: »

I have tried reading it but I don't fully understand your story!
You had a £17,000 loan but this was near to be paying off so you took out a £22,000 loan???

You didn't want this loan but also took out another loan in 2009?

You then go on to complain about receiving an overpayment after fraudulent activity?? What does this have to do with the loan?

There is no mis selling unless they forced the loan on you at gunpoint! They have probably been silly lending to you as it looks like you have considerable issues with money previously and are still struggling.

As has been mentioned seek advice on your debts. Speak to payplan or CCCS and see war the best course is for you?

I pay my debts and don't need any plans, even though I struggle to pay everything it does get paid. Everything in my post relates to the RBS and this original loan if you read it so it is relevant about the fraud. When I signed up for this forum I thought people gave you the advice you asked for not criticised what you wrote or about the situation it was about. All I wanted was an answer to mis selling or not.

myfriendmartin67

MonkeyMad wrote: »

You start of with £1000, somehow get up to a loan of £17000, and when 'I only had a short time left to finish paying for it' you then get a loan of £22000. This makes absolutely no sense. Did you have some mis-sold spending in between?

'and now I have another loan taken out in 2009 which is £147 a month aswell as my existing loan which was to help get rid of debt but as not helped at all' - you need to reduce spending for this to work.

I give up trying to explain anymore. The original loan of £1000 was taken out 14 years ago and what banks do then is get you to renew the old loan to consolidate all debts so I haven't actually ever had £17000 or £22000 off the bank in one full sweep to buy a flash car or a deposit for a house as a lot of you obviously think that , they have accumulated bit by bit as Martin makes a point of in one of his pages.
I got into debt yes but once in found it very hard to get out of because I MADE MY REPAYMENTS and didn't bump them as others do hence my spiral of debt.
I thought by explaining more about how it affected me people would understand why I thought it was mis sold and the problems it gave me later which I had stressed my concern to the bank in the beginning. so I will just write to the bank and make a claim this forum as been a total waste of time apart from one two people on here.

oscar52

27col wrote: »

I thought I saw the longest sentence ever the other day on here. But this one is twice as long. If you along the second row up from the bottom of your keyboard you will find a funny looking thing on one of the keys. It is called a full stop. Please try using it in future, if you want anyone to take your post seriously.

And if you had proof read your post, you would have noticed that you missed the word LOOK between "you" and "along"

myfriendmartin67 wrote: »

I pay my debts and don't need any plans, even though I struggle to pay everything it does get paid. Everything in my post relates to the RBS and this original loan if you read it so it is relevant about the fraud. When I signed up for this forum I thought people gave you the advice you asked for not criticised what you wrote or about the situation it was about. All I wanted was an answer to mis selling or not.

Some posters dont appreciate that principle Martin

Eonel

You may want to repeat your post in the Debt Free Wannabe forum. Responses there are more supportive - in this forum responses can be more robust.

Afraid I am still no clearer on your situation even after your follow up posts.

You nearly pay your off your loan and then it starts again for an increased amount. This does not make sense, unless you borrowed more money from them.

You will need to be clearer with the forum on what money you received & when before anyone could reach a view on mis-selling.

opinions4u

myfriendmartin67 wrote: »

I wasn't asking how to get out of paying it off just if I had a mis sold case but their are a lot of ignorant people on here who comment on posts without reading them first.

So if you discover the loan has been mis-sold, what did you think the next step would be?

jason1231972

Sounds like unethical and unprofessional behaviour from a commission-hungry loan adviser (who in their right mind loans 17k, 22k, or whatever it is, to an Income Support recipient, even if it 'only' represents 5k net cash in hand?!), rather than outright mis-selling.

As Emmzi and others point out, specific actions need to have been taken in mis-selling cases, rather than it just being a case of you didn't want the loan and/or can't afford it. No matter how hard the sales talk (which yes, can be unethical, and certainly was back in 2006), you sign on the dotted line as a compos mentis adult, armed with the T&Cs, and given the right to a 'cooling off' period. Your ability to budget for the loan is pretty much your own responsibility.

The 'critical' responses here stem from the sheer number of 'complaints' about mis-selling, when no such thing has taken place (the ethos of some consumers being "I don't want this product because I can't repay it. Therefore, it must have been mis-sold, and I must explore this avenue as a way of wiggling out of debt").

I am not a debt adviser, so you must consult a suitably qualified person before taking any real action, but there are ways 'out' of this debt (or to at least make it more manageable), other than pursuing the mis-selling route, which can be complex and difficult to prove.

The CAB or CCCS may be able to help. Just by skimming your post, I make the reasonable assumption that your credit rating is already shot to pieces. A professional (and free) organisation like CAB or CCCS may be able to help you manage these debts, from relatively mild action (i.e. reduced payments), to severe action (i.e. insolvency).

Your best bet is to contact either of the above as soon as you can.

wiseshark

myfriendmartin67 wrote: »

Thank you very much for making my post readable to others, I was typing fast and getting a bit carried away but wanted to explain as much as I could about my situation and didn't realise grammar and spelling was in the ts&cs of joining the forum.
As for the negative comments made you people should get a life than sit on forums waiting for a chance to !!!!! about what you read, I am a strong minded person so see you all as pathetic but your comments could make a fulnerable person feel very low about themselves and their debt.

Well said myfrienfmartin67, good for you. I have also been very
dissappointed at times by some of the petty and spiteful remarks dished out by the cranks who have posted replies by the thousands. Don't take it too personally, as they can't help themselves when they are clearly suffering from OCD.

Get yourself over to the DFW board, they are great lot and non
judgemental.

Reading through your post, you may well have signed for a new loan under duress, but I'm no expert. Contact CAB. Good luck.