Advice Required

andrewh

Good morning all,

I am simply looking for a bit of advice.

When I was 18 and had moved into a new property with my ex partner at the time I received an overdraft from the RBS. This was about 2004. The overdraft kept going up and up until it reached £5,500. I had another account with my partner at the time and they also put an overdraft on this, and again it went up to £5,500.

Now I paid these off with a loan from the RBS - they advised at the time this was the only way to do this. Loan since paid off through a trust deed.

At the time I banked with RBS ... had done for all my life. They knew my working situation - I was earning c £1,200 a month and outgoings where far exceeding my income - we had just had a child and costs spiralled.

Can I ask - does anyone think I would have a claim for irresponsible lending in regards to the overdrafts - then going onto the loan? Has anyone tried to claim in such circumstances and been succesful...and does anyone have any template letters?

Thanks in advance :A:)

[Deleted User]

andrewh wrote: »

does anyone think I would have a claim for irresponsible lending in regards to the overdrafts

In a word..no.

dunstonh

Can I ask - does anyone think I would have a claim for irresponsible lending in regards to the overdrafts - then going onto the loan?

Can I ask, does anyone think that this is down to irresponsible spending through poor lifestyle decisions and bad financial planning?

Has anyone tried to claim in such circumstances and been succesful

If you can show that the bank was responsible for your partner giving birth and all the other decisions you made which created your costs, then you may have a case. However, complaints like this are rare and successes even rarer. You tend to find mental illness is an issue where the banks have to pay redress. However, where there is no mental illness and you just got carried away with spending then no.

As a trust deed was involved, even in the unlikely case a complaint was upheld, the redress would not be paid to you anyway.

andrewh

dunstonh wrote: »

Can I ask, does anyone think that this is down to irresponsible spending through poor lifestyle decisions and bad financial planning?



If you can show that the bank was responsible for your partner giving birth and all the other decisions you made which created your costs, then you may have a case. However, complaints like this are rare and successes even rarer. You tend to find mental illness is an issue where the banks have to pay redress. However, where there is no mental illness and you just got carried away with spending then no.

As a trust deed was involved, even in the unlikely case a complaint was upheld, the redress would not be paid to you anyway.

Ok. The main point I want to try and get across here is that a) I never asked for the overdrafts to be increased and b) They knew I would never be able to afford to pay them back.

But thanks for the advice :T

dunstonh

andrewh wrote: »

Ok. The main point I want to try and get across here is that a) I never asked for the overdrafts to be increased and b) They knew I would never be able to afford to pay them back.

But thanks for the advice :T

Putting aside my tongue-in-cheek response, the point is that whilst you never asked for it, you didnt have to spend it. It takes two to tango.

Most of the population have overdraft facilities on their accounts. However, most of them never use it. Just because it is there, does not mean it has to be used.

You can buy cars that can easily go 150mph. So, does that mean if you go over the speed limit, its the manufacturers fault?

You had a house. A child. You could vote, drink and drive. You were an adult at the time. This is why the only real areas of success you see are linked to mental illness or learning difficulties.