Lloyds Loan mis-sold?

opinions4u

Post #161.

Really?

DevCoder

Ive already given you the fact. The answer is no by what you interpret as forfeit.

If the contract is to be voided then it will be unwound to the position before the contract was struck, each person put in the same financial position as before the contracts was formed.

This would involve the repayment of the 7,500 capital amount.

That would be the best case scenario, proving what the OP is describing is a whole new ballgame.

The first bit is fact (any further consequential losses claim would be a further and far harder case to win) the last line no one can state as fact as you have not gone down that line, when (if) you do (and I would strongly advise against it) then a solicitors advice would be more appropriate as at that stage you are talking serious money to bring your assertion to a court of law.

Don't forget that as you are asserting, under UK law you must be the one to prove wrong-doing has occurred. Having read your OP then you would struggle and I would suspect that a solicitor would advise you against such action having knowledge of just the points you have raised.

But again, the last bit is just my viewpoint with 20+ years in the industry, the first part is what would happen if your claim was upheld.

gb12345

Edna145 wrote: »

I read the same posts as you and it doesnt indicate either way how he got them off her. I'm not assuming either way.

Your earlier post where you reassure the OP's partner certainly seems to be assuming that he got them through a legitimate means.

I have made an assumption based on the facts that I have seen and have given an opinion based on those facts.

I suggested that the OP might like to elaborate on how he got the information - he has been back to the thread since that post, but failed to do so. One might wonder if this is because he knows that if he does so he's not going to get the answer that he likes.

Edna145 wrote: »

However he got the records is nothing to do with the original OP.

It is entirely relevant if he decides to rely on that information as part of a complaint about fraud. Lloyds might not realise how he got the information, so there may be no problem, but there is a chance that they will.

Edna145 wrote: »

The only people that should have got involved are those with experience in the financial indusrty and who can actually offer some advice. Its that simple.

I have already pointed out my relevant experience (I'll reiterate it again to save you the trouble of reading back through the thread - 15+ years experience in the Financial Services industry, including stints in compliance and system security). I have also provided advice based on that experience (unfortunately, it appears to be advice that the OP/you don't want to hear).

What experience are you basing your advice that the OP's partner has nothing to worry about on?

DevCoder

Just an aside, unless you provided the statements and the income/outcome of these statements were recorded then they would not take any part in the internal credit scoring.

Just a person adding "other statements show good income" is not enough for scoring mechanisms, as you can have £20K a month going into an account but £21K going out, that's why the details are requested and input into the incoming to outgoing sections of the banks internal scoring system.

gb12345

Chickusdickus wrote: »

How I got info isn't important.

As I have said numerous times before, if you decide to use it as evidence of fraud by Lloyds then it is definitely important.

If you take action against Lloyds then they are going to investigate and as I said previously may well discover how you gained the main evidence you are relying on.

The fact that you obtained the information through a dodgy means might have no baring on the outcome of your complaint, but getting some compensation would be a rather hollow victory if it also resulted in your partner having her career ruined due to being sacked for gross misconduct.

DevCoder

I will agree with gb12345's point that strict procedure would need to be adhered to when disclosing any information to a client as I mentioned certain information could and must be withheld even under SAR and DPA requests.

I cannot comment on the OP's standing on this as I am not privy to any of the information that was disclosed, how it was disclosed, and whether proper protocol was followed.

However my comment on an impartial person handling the request to avoid a conflict of interest is valid in the industry. That would depend on the relationship between the GF and the OP at that time which again has not fully explained (strangers opposed to friends opposed to gf/bf opposed to wife/husband opposed to interested creditor opposed to exploitation).

Without that information, which the OP does not need to disclose as that was not the original question, then no factual statement could be made.

meer53

krisdorey wrote: »

Just an aside, unless you provided the statements and the income/outcome of these statements were recorded then they would not take any part in the internal credit scoring.

Just a person adding "other statements show good income" is not enough for scoring mechanisms, as you can have £20K a month going into an account but £21K going out, that's why the details are requested and input into the incoming to outgoing sections of the banks internal scoring system.

Exactly this. ^

For Edna145's sake, i have 19 years experience in the financial services industry.

I make lending decisions and offer loans to customers.

For a £7,500 loan it would be highly unlikely that statements would be required before a decision is made. I feel that the loan the OP was offered would have been offered solely on the basis of internal scoring.

DevCoder

Just to add to my post 165

If other income by other external statements were to be a deciding factor then they would also require "proof of wealth" documentation validated by a RM (Relationship Manager, ie the person you spoke to ) and then a credit facility manager, credit is very rarely agreed and processed by one person to avoid fraud in these cases.

Chickusdickus

Well Kirsdorey and gb12345, those are the most relevant and important replies so far, including Edna.

Now, If I could roll back the clock to the beginning of the post where intelligent questions are asked to further the info needed to offer advice.

How abut this? Instead of me going over it all again, let me just ask it again as a hypothetical.

I have found out by proper means, that the notes recorded on the system at the time of my loan application are not true. I did not know this at the time. In order to clarify my own state of mind and fully understand the terms for the loan I had agreed to, I requested a copy of my meeting notes prior to my loan acceptance. This is my right and they were promplty printed off for me. This is when I noticed the statement that I have proven my ability to afford the loan based on 2 years of statments with Royal Bank of Scotalnd. I have never been with RBS.

Assuming all info above it true, are there ground to have the loan voided and free me from repayments?

I am not complaining. I am not blaming anyone. I am simply asking a question.

Thank you all for you time on this matter.

Edna145

Yes Krisdorey,I agree, but you are reliant upon the person infront of you putting what you say into they system! He could have put what ever figure he like into the income box then in the notes covered himself by saying that he has seen this evidence. The scoring mechanism of Lloyds goes on what is input into the application, after an original internal system has looked at internal and now external records. I do agree with you re legal advice though and still think it is his best option to get back in touch with the bank and see what they say.

gb12345, I stated the ways he and she could have obtained the notes: ie very simply. He has not stated she took them away in any cloak and dagger way. If one of the ways was followed and ID was taken, then he would have been able to walk away with the notes. If they were e-mailed to him, I'm not sure how as at that time LTSB didnt have any kind of e-mail system so it couldnt have been on FB etc.

My saying that the only people to get involved etc, was more pointed to the others on this thread who clearly do not have experience unlike yourself, thanks for pointing it out again.
And, as you ask I do have banking experience, of 12 years with the bank we're talking about.
This has nothing at all to do with getting the answers I want to hear, merely the answers in a polite and non judgemental way.