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MSE News: Payday loan firm banned for allowing fraud then harassing victims

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MSE News: Payday loan firm banned for allowing fraud then harassing victims

edited 30 November -1 at 1:00AM in Loans
7 replies 2.4K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 30 November -1 at 1:00AM in Loans
"Lax measures allowed fraudsters to use 7,000 people's personal details to steal their identity and apply for loans ..."

Replies

  • Unbelievable practice.

    Even more unbelievable is how they thought they could make money out of it. I mean no one is going to pay back a loan the didnt take out?
  • bargepolebargepole Forumite
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    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
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    Unbelievable practice.

    Even more unbelievable is how they thought they could make money out of it. I mean no one is going to pay back a loan they didn't take out?

    Unfortunately, there are some people out there who, when they get an official-looking demand for money, get scared and pay it.

    You've only got to look at the Parking Tickets forum to see that people will pay fake "tickets" from private parking companies, in spite of all our advice to the contrary.

    I have been providing assistance, including Lay Representation at Court hearings (current score: won 48, lost 12), to defendants in parking cases for over 5 years. I have an LLB (Hons) degree, and have a Graduate Diploma in Civil Litigation from CILEx. However, any advice given on these forums by me is NOT formal legal advice, and I accept no liability for its accuracy.
  • zerogzerog Forumite
    2.5K posts
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    bargepole wrote: »

    Unfortunately, there are some people out there who, when they get an official-looking demand for money, get scared and pay it.

    You've only got to look at the Parking Tickets forum to see that people will pay fake "tickets" from private parking companies, in spite of all our advice to the contrary.

    You can't really compare. Most people know if they have taken out a loan. With parking, if you don't know that private companies aren't allowed to do this, you would usually think that it's plausible you have broken some rule.
  • dresdendavedresdendave Forumite
    871 posts
    Ninth Anniversary 500 Posts Photogenic
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    Unbelievable practice.

    Even more unbelievable is how they thought they could make money out of it. I mean no one is going to pay back a loan the didnt take out?

    With Pay Day Loans it seems most people don't pay them back even if they did take them out.
  • geoffkygeoffky Forumite
    6.8K posts
    zerog wrote: »
    You can't really compare. Most people know if they have taken out a loan. With parking, if you don't know that private companies aren't allowed to do this, you would usually think that it's plausible you have broken some rule.

    That is because people have been conditioned not to think for themselves..so sad that people are acting like zombies..
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • iacapaiacapa Forumite
    2 posts
    Just like the government and bank corruption, no one does time!
This discussion has been closed.

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