Gambling debt

Londonlad1980

Just after a bit of advice.

I have had a gambling illness for years and been in and out of debt. I am seeking help now.

I took out a loan with a company about 5 years ago and the wages for that loan came straight out of my wages so they wouldn't agree to a payment plan but I made it clear I had a gambling illness, anyway a couple of years after they let me take out another loan. Im just wondering would this be classed as irresponsible lending?

To make it clear I know I'm the one who has the problem not them but you may of thought they should of had a flag on their system?

I'm not really after a refund on what I have already paid but looking to maybe a reduced payment now.

Thanks in advance :-)

[Deleted User]

If you can evidence - or they acknowlege - that you told them of your issues, then you may have a case.

Send a formal complaint and see what they say.

Londonlad1980

Yes I have a email that I sent them, I know I'm the one that gambled but certainly doesn't help when a creditor who has been told you have a gambling addiction then lends to you again.

TrickyDicky101

Londonlad1980 wrote: »

Yes I have a email that I sent them, I know I'm the one that gambled but certainly doesn't help when a creditor who has been told you have a gambling addiction then lends to you again.

Did they acknowledge that email and its contents? Otherwise how can you be sure they knew you had a gambling problem?

Londonlad1980

I had a email reply from them which confirms they knew about my addiction when I asked them to agree to a payment plan.

Shakin_Steve

There is no need to hide the loan amount and company name. I think you may have a case but, rather than fishing on here, take some free advice from a debt charity. They will look at any documentation you have and advise you of the best way forward.
Are you seeking help for your gambling addiction? That, surely, is the first, and most important, step. Good luck.

Londonlad1980

Yeah I am seeking help now I have 100% admitted I have a problem which isn't going to go away.

T-G-C

Gambling is an addiction rather than an illness. In other words, this would not fall under health grounds on a lender's financial difficulty protocol. The lender's automated decision making does not include undocumented correspondence between the borrower and the creditor. If the creditor was made aware of these circumstances but failed to place a block on future lending, as someone above has indicated, there could be grounds for a case.

That being said however, unless a request was directed at them, specifically stating that you use their loan money for gambling purposes and wish to be excluded from future loan products permanently, it could be argued that your circumstances were assumed as having changed, since you admitted the loan was taken out years after your correspondence with them about the problem.

Whilst there are numerous regulatory requirements on the lender to ensure the credit product is both affordable and suitable for the borrower at the time, which it must have been in that instance, as far as credit records had concluded, it is also borrower's own responsibility to ensure that the funds are taken out affordably and for the appropriate purpose of use. All organizations will advise their customers never to borrow for gambling.

It can never be said for certain, however it is highly unlikely that a formal complaint in this scenario will composite a rebate of past interest and/or financial compensation. I know that you have stated this is not what you are seeking to receive, however complaints are usually filed for this purpose.

If you are simply seeking a reduced payment amount, it would be wise to phone the lender's customer care team and thoroughly explain the circumstances of this situation. In most cases, they would be willing to co-operate as it would be in their own interests to ensure you do not default on the loan. Your loan or commitments will not be written off, but the pressure could be lowered, depending on what measures the lender is willing to put into place.

TriggerHappy

Hiya,

What kind of loan was it where the repayment came straight from your wages? Does it reflect on your payslip like an employer loan or student loan type of deal? I'm asking more out of curiosity...

Personally, I would call them rather than email them to understand what processes might be in place to help a struggling customer as they can be quite draconian and an email, while seeming to be most convenient as it gives an audit trail may be a bit too direct - think social media where someone says something and doesn't necessarily get the same answer they might have done if they'd had a conversation.

Before you call, get pen and paper handy (check the pen works).

Call them, explain that you're in financial difficulty and would like to review your existing payments. If the person you speak to first is a bit hazy or unsure, ask if there is someone else better able to help you (don't be rude at this point).

When you get to someone who knows the craic, then write down the date, time and their name followed by all key steps and instructions they tell you. If you're unclear or don't understand, ask to clarify - repeat what you think you've been told as you understand it.

At the end of the call, read back your notes and ask them to confirm they're accurate and that you've not missed anything. Ask for an email address and tell them that you're going to send an email summarising your discussion - then actually do it straight after the call.

Worst case, if they don't have an option to reduce your payments then inform them that you intend to make an official complaint to the ombudsman, don't get angry or go into unnecessary detail as the person you're speaking to isn't the villain of the piece here.

At this point, if you need to make a complaint then call the ombudsman to confirm you likely have a case and also because I think you'll need to raise a complaint in writing to the loan company and wait for them to reply (so check that first).

I think it might bee tricky, but stick with it

Good luck!