Help needed

Sara1982

I have been banking with my bank for years now. I got into financial difficulties a few years ago so contacted the bank to pay what we can toward our loan i set up a plan for 6 months after the 6 months was up they called me , the only option I had was to consolidate the loan (paying off old loan and overdraft, this would be the 4th loan we've had!) I felt at the time that was the only option I had, but now I feel it was a bit unfair already in debt with them so here have another loan , also at this time they asked if I wanted my other half name first on the loan and me as second but said leave it as it is but they changed it over anyway! I have recently made a complaint to the bank about this and waiting there reply. Is there anyone that thus has happend to or any advise would be great ugly appreciated. Thanks

tonycottee

If the bank has added your other half to a loan without either of you giving consent or a signature, then you definitely have grounds for complaint.
But do you also want to complain about being given another loan? As you said, at the time the only option you had was to consolidate. But without figures it's difficult for us to tell.

[Deleted User]

Sara1982 wrote: »

I felt at the time that was the only option I had, but now I feel it was a bit unfair already in debt with them so here have another loan

But that's what happens when get a consolidation loan. Isn't that what you asked for?

jonesMUFCforever

If the loan you are complaining about was the old loan plus your overdraft then you can't complain can you?
If they had not paid off your overdraft ho much would you have paid in interest and charges each and every month??
They probably did you a good turn.

Sara1982

Thanks for replies

I never asked for the consolidation loan that was the only option they gave me at the end of the payment plan and at the time of saying yes felt that was the only option to get out of the mess..

Sara1982

The overdraft was only £ 300 so never paid intrest on it.

curty510

you never asked for it, they offered, you agreed and entered a legally binding contract. Can you contact the bank if you are having difficulties?

Ben8282

It appears from reading the OP that the bank did not in fact add the name of the partner without consent. What they appear to have done is simply change the order of the names so that if the 1st loan was showing as Mr & Mrs Smith, the new loan now reads Mrs & Mr Smith. Not sure this actually makes any difference .....

[Deleted User]

It doesn't. It's either joint or it's not.

enthusiasticsaver

I am not sure what you are complaining about. If it is a joint loan it does not really matter who is named first. You are both jointly liable. From the sounds of it you agreed to a consolidation loan but obviously it has not helped your situation - read on this forum so many of us advise against them. However the fact it has not helped you is not necessarily down to the bank. If you are unable to pay your debts you may want to post an soa on the dfw board and people can advise better then with numbers