Opinions on pre-approved loans within apps - legal

john1002

Even with account conduct I would have thought that many applications over that short space of time should have raised some sort of red flag at barclays, whilst a complaint won't wipe the debt at most it will flag that they have some internal issues that need tightening up.

John

takman

Biglints wrote: »

Barclays. And I made about 4 or 5 applications/ top ups over a 3/4 day period. I ended up with one loan of 5k, and one of 10.2k. I was clicking things like money required for home improvements etc yet a simple check of my statements would show it was all online casinos the money was flying out to. its embarrassing really. I'm becoming more stoical, but it's early days.

When making the complaint you also need to consider that you have committed fraud by lying about what the money was for!.

Also you can contact the three credit reference agencies and get them to put a note on your credit reports that you are a compulsive gambler and nobody should lend you any money. You definitely won't be able to borrow any money then!

Biglints

takman wrote: »

When making the complaint you also need to consider that you have committed fraud by lying about what the money was for!

Not something im overly concerned about, I have many a letter from consultant psychologists backing up the fact at times I don't know what the !!!! I'm doing.

Biglints

john1002 wrote: »

Even with account conduct I would have thought that many applications over that short space of time should have raised some sort of red flag at barclays, whilst a complaint won't wipe the debt at most it will flag that they have some internal issues that need tightening up.

John

Well exactly. I was, from what I remember, just picking a random item from the list of uses for the money - upgrade car, home improvements, medical.. I wasn't in the frame of mind to do anything but click random buttons and see what happened. And what happened was they kept giving me more money. I'm not trying to distance myself from the actions I took, mental health issues or not it was me at the end of my phone. I just really don't think Barclays acted with skill, diligence, and care, as is stated in the lenders charter

Arleen

Your entire point here seems to be based that the agreement would be null and void because they didn't do their due dilligance and thus didn't lend responsibly. The reality is that they did their due dilligence, what they didn't do is assume that you, to say it politely, lie through your teeth. The unpolite word for this behavious would be scam, cheat or fraud, as this is what you did when you've lied through you teeth on those applications.
And all of that is on record, your applications won't dissapear or go away, for sure not before the credits are settled, one way or another. And continuing with the complains and claims of their wrong doing will, probably, result in a fraud marker on your file, and possibly bank using this as a reason to break the existing credit agreement and demanding repayment in whatever time it says on your agreement for that case. And I imagine that they wouldn't shy of quickly going to court and getting the CCJ against you, and acting on it, becuase who likes to be taken for a fool?

So I would say stop right there, you won't win here, can only lose this gamble like all the others. Either speak with them if you have income to speak off, figure out a way to settle it, or go, as suggested before, through DRO or Bankrupcy if there is no snowballs chance in hell for you to repay the debt.

Biglints

I think you're being a tad overly dramatic. As I've said before, I'm prepared, and can afford to pay it back.

But I still firmly believe they didn't lend ALL the loans I applied for responsibly. That's my issue with them.

Biglints

Plus, as I think i've been rather jumped upon for my actions, don't underestimate the scale of mental health problems I have to manage on a daily basis. I may seem logical and lucid, but that part of me battles endlessly against a side that's just chaotic and unmanageable. I've been sectioned before now, put up with horrendous side effects from my medications, and generally have never known a life any different. I'd never gambled in my life until 18 months ago. And I'm 38. The pressures of an extremely ill partner have affected me massively. Which is embarrassing. I'd love to be a calm, pillar of support. But emotional strains flare up my instabilities. I expect no sympathy for this, plenty of people are far worse off than me, but it's all intrinsically tied into my actions, so I can't get away from it.

fwor

Biglints wrote: »

But I still firmly believe they didn't lend ALL the loans I applied for responsibly. That's my issue with them.

The problem here is that you are asserting that they did not act responsibly, but - by your own admissions - you don't actually know anything about how their internal processes work. It's a position of weakness from which I don't think you have any chance of success.

If your complaint gets any further than the first hurdle, the FCA (if that's what they are called now) will ask the bank to demonstrate that the product passed the necessary compliance tests, and the bank will show the FCA that it did.

There is zero chance that it will not have passed the necessary tests because, contrary to apparent popular belief, banks do actually want to get their money back. It really isn't in their interests to lend money to people to, for example, p155 away on online gambling sites. But there is only so much that they can do if people are determined enough to put false information on the application forms. I'm afraid the idea that they should be looking at people's bank statements to see what they are spending their money on is, frankly, unworkable from a practical point of view.

One thing that I suggest that you do is to speak further to your doctor (or your mental health specialist if you have one). If you are currently in a position where you cannot trust yourself to make sound judgements on financial matters then you need to make that clear to them. You may have to consider putting in place a Power of Attorney so that someone else ~must~ be involved before financial commitments (such as future loans) can be made.

Biglints

I just think it's a poor system they are using, compliant or not. Taking 5 loans over such a short period of time, all the transactions being to casinos, me having as low a credit score as you can get, being turned down in their high street branch months prior when I was trying to resolve gambling debts.. I know I stand almost zero chance of getting any loans voided, but for me I've got nothing to lose. I've arguably lost it all already.

They've based their lending to me on inflated figures due to gambling going through my account.

To me, that's still a system that's far from perfect.

Biglints

As for information they required on the 'application', it merely consisted of one tick box, as to what the money was for. Seconds later the money was in my account.