My bank ruined my life

nibehi

Hi guys

I believe my bank has been systematically ripping me off since I first approaced them for an overdraft when I was about 18 They repeatedly sold me loans I couldn't afford and added ppi. Trapped me in a cycle of debt with extortionate overdraft charges. Miss sold packaged bank accounts. Broke data protection laws on many different levels.

I'm 35 now and just debt free. But I am now ready to complain about the entire way my bank has dealt with me.

has anyone any experience in a similar complaint?

gardner1

you didn't have to take the loans, paid for accounts or overdrafts......why do you think its all the banks fault

fierystormcloud

nibehi wrote: »

Hi guys

I believe my bank has been systematically ripping me off since I first approaced them for an overdraft when I was about 18 They repeatedly sold me loans I couldn't afford and added ppi. Trapped me in a cycle of debt with extortionate overdraft charges. Miss sold packaged bank accounts. Broke data protection laws on many different levels.

I'm 35 now and just debt free. But I am now ready to complain about the entire way my bank has dealt with me.

has anyone any experience in a similar complaint?

Yep. probably half the population.

You probably haven't got much of leg to stand on, as I assume nobody held a gun to your head to take out all this debt and overdrafts? Yes of course the banks have to take some responsibility for the mess this country and its people are in, but the people themselves must take SOME of the responsibility.

pathtofreedom

They gave you multiple loans when you were 18? How much were you earning then, what was the interest and term that it has taken 17 years to pay off. I doubt you could make a complaint for that as they probably won't have the records from 17 years ago.

If you're saying since you were 18 you've taken out loans over the years and increased your debt then that is very different. You were an adult and would have had to sign agreements agreeing to repayments and knowing what your commitments would be each month. When I've had bank loans over the years I've had to say what it was for, eg a car, what were your loans for? Were you buying cars etc that were too expensive for your income? That wouldn't be the banks fault in any way that would be you not living within your means. Many people are guilty of that myself included. Just be glad you've had your lightbulb moment now and are getting out of the credit cycle and save for what you want in future.

dunstonh

But I am now ready to complain about the entire way my bank has dealt with me.

It may well be too late. You have 3 years from the event to make a complaint about something that you would reasonably known about as being an issue.

has anyone any experience in a similar complaint?

There may be PPI issues but the problem with your complaint would be that you asked for the loans or agreed the loans. What happened to the money? you spent it. So, the bank will not be totally at fault.

Yep. probably half the population.

Actually, most of the population have never had bank charges and have a perfectly fine working relationship with their bank.

sinizterguy

nibehi wrote: »

has anyone any experience in a similar complaint?

Yes. Right here. Every day.

People claim that the banks chased them down and gave them a loan at gunpoint.