Lied about income for loan-can he claim?

taxi97w

I'm asking this on behalf of a friend of mine although he has not asked me to ask you, if you know what I mean. Because of this, I don't know the ins and outs of his situation, but I have mentioned reclaiming to him and he was less than enthusiastic and here's the reason why:-

This friend lied about his income (made it out to be more than it was) to acquire various credit cards. Over a few years he hammered them all and accrued loads of penalty charges. He has since gone bankrupt and been taken to court for fraud (something which amounts to £80,000 from what I can gather) which has been dealt with, although he was lucky not to go to prison. I know this is audacious - but do you think he could claim unfair bank charges?

Sorry, that heading should read 'credit' not loan.

jinkssick

yeah I wouldnt see why not. That has nothing to do with reclaiming. tell him to begin ASAP but expect every single one of those pennies to go back to them to pay off what he owes. that should begin to give him a massive smile on his face.

get that ball rolling now.

taxi97w

Was just thinking, how do you get credit by lying about your income anyhow? Don't they check up?

Voyager2002

taxi97w wrote: »

Was just thinking, how do you get credit by lying about your income anyhow? Don't they check up?

Not credit cards, not usually.

jinkssick

actually ive done it a few times, by a few thousands. nothing big really, theyll be more happy if they know you cant pay.

nickmack

jinkssick wrote: »

actually ive done it a few times, by a few thousands. nothing big really, theyll be more happy if they know you cant pay.

This is fraud, as the OP's friend found out.

Joeletaxi

For unsecered lending the income earnings that the creditor goes on is exactly what the borrower states they get....very really on any apllication do you have to prove it with statements etc...

I add a few thousand on to mine whenever i apply to get more chance of approval and a higher limit. You have to be carefull not to take the !!!! and be ridiculous and blatently lie and be fraudulent but if you have a job like i did with a commision element then you overestimate and be optimistic etc !

I would suggest to your friend that he try claiming his charges and stipulates that he wants to be paid by cheque as he is likely win with the company not wanting to go to court! And if they are settling out of court they have to meet aggreements which would mean him not budging on getting paid by cheque! I am sure they would settle and pay by cheque !

It is abit immoral of him i guess to do this and not use the money to pay of his debts with them or to just to get them to knock down the debt but then again With the banks and big corporations i for one am not that moral in the way I deal with them since they are not like that to us as consumers....

If they were then they would only charge us the pence and up to a max of £3 for these charges that we are reclaiming !

I would suggest he makes a claim for his charges and sticks to being paid by cheque!

I dont really see he has anything to lose!

At worst he would go to court and the courts would rule his debt be knocked down by these charges etc and maybe give him a verbal ticking off for expecting to be paid back in cash/cheque etc for these charges!

But in likeyhood he will win with the company settling out of court and sending him a cheque!

That would be my guess and take on the situation anyways !

NB: I didnt think there was anyway you could go to prison for fraud for moneyies under 100k ?