Loan that should never have been approved?

sharpy2010

pawleyn wrote: »

what i really need to know is whether this loan should have ever been approved, if it hadn't i would have not got into such debt at such a young age and wouldn't have this poor credit rating today. Overall this loan has caused a lot of problems for me.

how many of these types of post have we got to put up with.

I think this shows how society today thinks.

Pathetic.

the_insider

Fishingtime wrote: »

God I never knew that, that is the last time i buy a bag of nuts.
How have I survived this long

If you want I can help you claim compensation. Pay no mind to the fact you've been merrily eating nuts for years, if no-one explained that nuts are, in fact, nuts you could well be entitled to £4,000. Just send £1,500 to my by Western Union transfer so we can get your claim started!
:money:

opinions4u

opinions4u wrote: »

4/9 troll.
100/30 making a worthwhile second post.
11/2 anybody offering genuine sympathy.
250/1 anybody coming up with a rational explanation as to why the lender is at fault.

A win for those backing the favourite!

RichardD1970

Apples2 wrote: »

a packet of peanuts may contain nuts.

Fishingtime wrote: »

God I never knew that, that is the last time i buy a bag of nuts.
How have I survived this long

Actually, Peanuts aren't actually nuts, they are a legume, like peas, beans, lentils etc.

So warning that a bag of Peanuts may contain nuts is valid. (Peanut allergy and Nut allergy are different)

matilda.cs

Hey guys, don't be quite so hard on him.
I can (kind of) understand SOME of his views...
When I was 19ish I had debt totalling £12k ish, that I couldn't repay.
I approached a lender who approved a £12k debt consolidation loan, and left it to me to pay off my other creditors... I didn't pay it all off, and eventually went bankrupt. I'm ashamed of this, but it was a long time ago and I have grown up and grown wiser.

At the time, I really needed financial guidance, not further credit.

I kinda wish there was an option when applying for credit that says "if the borrower agrees to this loan, they agree to a marker being put on their credit rating that will prevent future loan or credit card applications until the current loan is paid"

This would prevent over borrowing. Probably not for everyone though, but perhaps creditors could give a slither better APR for people who agree to the above.

Just an idea...

JuicyJesus

sharpy2010 wrote: »

how many of these types of post have we got to put up with.

I think this shows how society today thinks.

Pathetic.

I blame MSE. Their basic view is that consumers can do whatever they please and that any negative things that happen as a result are someone else's fault and that any costs arising from it can be claimed back, and that this is somehow "fair".

It leads to the sort of bizarre thinking where people think if they applied for a payday loan when they should have known damn well they couldn't have paid it back, it's the fault of the payday loan company.

matttye

JuicyJesus wrote: »

I blame MSE. Their basic view is that consumers can do whatever they please and that any negative things that happen as a result are someone else's fault and that any costs arising from it can be claimed back, and that this is somehow "fair".

It leads to the sort of bizarre thinking where people think if they applied for a payday loan when they should have known damn well they couldn't have paid it back, it's the fault of the payday loan company.

Consumers do need a certain amount of protection against the might of the banks and other finance companies though.

If people were completely left to fend for themselves, banks would get away with murder just because they can get the best lawyers.

opinions4u

matttye wrote: »

Consumers do need a certain amount of protection against the might of the banks and other finance companies though.

If people were completely left to fend for themselves, banks would get away with murder just because they can get the best lawyers.

I don't think anybody disagrees.

But I'm seeing people who asked for PPI getting refunded. I'm reading tripe with people borrowing money and not expecting to pay it back on a technicality and I've spent time explaining simple savings accounts to people who've later turned round and said they were never told the most basic information.

When the undeserving are benefiting from consumer campaign bandwagons it's time to step back and make sure that fair treatment is a two way street.

The banks have a long way to go themselves. A segment of consumers have even further to go.

matttye

opinions4u wrote: »

I don't think anybody disagrees.

But I'm seeing people who asked for PPI getting refunded. I'm reading tripe with people borrowing money and not expecting to pay it back on a technicality and I've spent time explaining simple savings accounts to people who've later turned round and said they were never told the most basic information.

When the undeserving are benefiting from consumer campaign bandwagons it's time to step back and make sure that fair treatment is a two way street.

The banks have a long way to go themselves. A segment of consumers have ven further to go.

Whilst I do agree with that, there are times when people do need help even if they kinda got themselves into the situation.

For example, when PDL's empty their bank account. If someone tries to set up a repayment plan and the PDL disregards that and clears them out, some people say 'you owed the money so it's fair game' or words to that effect, but I completely disagree with that.

These companies need to behave responsibly. They are at the very bottom of the priority ladder and that's why they have to resort to these underhanded tactics. Clearly any utility bills, rent, etc. needs to come before PDL's. That's why they shouldn't just clear people out.

But yes, people wrongly reclaiming PPI has gone viral. I've even seen outraged people asking what they should get instead because they didn't get a PPI reclaim!! That just shows the misunderstanding that some have of the situation

I work for a criminal law firm though and I'm kinda immune to hearing daft excuses and people trying to get out of things on technicalities. Speeding being the most common. People are always asking things like, can they get out of their speeding conviction and fine because their name has been misspelt on the letter, and things like that.

Went off on a bit of a tangent there

sharpy2010

matttye wrote: »

Went off on a bit of a tangent there

I like tangents, only really at christmas time though. I think thats when they come into season anyway.