Credit Card - Miss selling?

debtfree_89

Evening

A little over 8 years ago (2007), when I was few weeks into being an 18 yo, I walked into a Natwest bank with intention to open a bank account with a debit card facility, the woman at counter took me into a room for the application, at which point she advised a credit card was best case. It was a very high pressure environment and I didnt really jump up and say "yes please" but I did go along with her suggestion. she asked for my income which I supplied (Saturday job during A levels so maybe a few £k a year) at this point the application was denied. At this point she mentioned having to enter family income and put in a figure for this, she asked back to me what would be my family income and I indicated i didnt have a clue.

She put in a fictitious number, which she never confirmed back to me, at which point the application was granted.

£1200 credit card, stupid kid, obviously it all went wrong and i still owe the money! A debt collector has been chasing and I wondered if this was a clear case of misselling? I was thoroughly honest about my earnings and it was certainly High Pressure environment,

Regards:money:

tomtontom

Did she make you spend the money? Did you sign the application form which declared a false income?

I would focus on making a payment arrangement to pay off the debt. The Debtfree Wannabe board is very helpful for managing your budget.

McKneff

She put in a fictitious number and you signed to say it was a true figure.


Give over,,,,,,


As above, get advice from the other boards.

jonesMUFCforever

You say that you were pressurised into signing up for the card but surely after going home and waiting about 5 days for the card to arrive - this gave you time to think about your application and financial state.

Then you went ahead and spent the money anyway.

Man up and accept you are at fault - put together a plan to try and repay.

debtfree_89

essentially yes, there was a second application made immediately after the first which included an unknown figure for what she had termed "family income". she at first prompted me to supply this saying it was *requried* as I was still living at home, and when i couldnt furnish a number she entered something in, however ridiculous it may seem I didnt know what this amount was or steer her in any way. I literally sat back and let her do it all save answering a few basic questions on my own address date of birth and income. This was in the "good old days" where bank workers were on nice bonuses for flogging credit cards. I am here to look for advice not lie about the circumstance.

I would have imagined that knowing full well my income level and personal circumstance, it was a clear case of miss selling. this would have been further supported by the requirement to enter a wildly inflated income level before the application went through. Also could this not be a case of application fraud, instigated and led by the bank representative?

second poster, You are right I did go home in that 5 days at any point I could have realised the error of my ways and returned the card. But this is real life and there are limits and restrictions on consumer credit agreements for this very reason.

I dont need or desire nonsense posturing in the form of "man up". I was looking for informed and possibly even helpful suggestions from someone with the experience or knowledge to understand the actual, technical, legal circumstance I am in. If you dont know thats fine, but maybe not commenting would be best.

[Deleted User]

debtfree_89 wrote: »

could this not be a case of application fraud

It is. Whether they would still seek to take action against you is doubtful, but probably not worth taking the risk.

debtfree_89

I was led to believe by their rep that I had to provide family income as I was living at home. she gave me a spiel saying that As my living circumstance was "living with parents" this figure was mandatory. obviously, she only realised that it was mandatory after the first application was made and rejected on the (not stated but obviously) grounds of my own preposterously low income. I am clear on this I didnt go in to deceive, I was led by someone who should ahve known what she was talking about and doing.

ViolaLass

...and then she made you spend the money?

jonesMUFCforever

''second poster, You are right I did go home in that 5 days at any point I could have realised the error of my ways and returned the card. But this is real life and there are limits and restrictions on consumer credit agreements for this very reason.''

There is absolutely no charge whatsoever for not using the card you allege was missold to you.
You spent the money - end of absolutely 100%
You will not get anywhere with this kind of argument - goodbye.

meer53

You must have had soooo many sleepless nights OP, worrying about this since 2007. Pray, do tell what has prompted you to finally take action ? Ah, wait, could it be the debt collector ?

I wouldn't say "man up" i think "grow up" is a better turn of phrase.

Colin_1_2

"A debt collector has been chasing..."

Relax, just pay them what you can afford to from your monthly income after all other essentials have been paid for. That is all they can ask of you.