Barclays- IRRESPONSIBLE LENDING

tmac6855

Its the first time i have been on this website Forum.

I should have made my story a little clearer.
We had just taken our mortgage out six months prior and money was already tight.
Yes i totally understand i that i am also to blame as i shouldn't have taken them out.
I lost my father and wasn't in a very good state. I need to pay for the funeral of my father. i looked online and the money was available. 'you can have upton £25,000.00 loan' in your account today! So the first loan i took out paid for my fathers funeral.
A few months later i then had to take my sister in and support my niece as her mother was sectioned. Bills were coming out of my head bearing in mind we had just taken out a mortgage.
A one year old and a baby on the way also.

Caz3121

you borrowed the money knowing you could not pay it back? you then spent the money knowing you could not pay it back? then defaulted...it is confirmed that you were correct and you should never have applied or spent the money
Knowing you could not pay this back, I assume this was for essential purchases....out of interest what would you have done if the current rules were in place and you were declined based on affordability at the time?

many of us will have had loans in the past that we should never have taken. I cringe when I think of interest paid and the struggles with repayments but the decision at the time was fix the roof and live very frugal until in a better position. (I have an emergency fund now)
never defaulted...ate a lot of beans!....not the banks problem...my decision to borrow

dealer_wins

So they enabled you to bury your father and keep the bills paid.

What you need to do is go to the "debt free wannabe" board and post your income and outgoings, and look to cut right down and knuckle down and repay your loans as quickly as possible.

No good screaming at the lender, as YOU applied for the loans!

Lungboy

Funerals don't cost £25k.

Willing2Learn

tmac6855 wrote: »

Its the first time i have been on this website Forum.

I should have made my story a little clearer.
We had just taken our mortgage out six months prior and money was already tight.
Yes i totally understand i that i am also to blame as i shouldn't have taken them out.
I lost my father and wasn't in a very good state. I need to pay for the funeral of my father. i looked online and the money was available. 'you can have upton £25,000.00 loan' in your account today! So the first loan i took out paid for my fathers funeral.
A few months later i then had to take my sister in and support my niece as her mother was sectioned. Bills were coming out of my head bearing in mind we had just taken out a mortgage.
A one year old and a baby on the way also.

You need to head over to the DFW board as you are just going to get crucified here!!! (See my last post #9). I'll see you over there

tmac6855

Caz3121 wrote: »

you borrowed the money knowing you could not pay it back? you then spent the money knowing you could not pay it back? then defaulted...it is confirmed that you were correct and you should never have applied or spent the money
Knowing you could not pay this back, I assume this was for essential purchases....out of interest what would you have done if the current rules were in place and you were declined based on affordability at the time?

I wish they didn't allow it as i wouldn't be in the situation i am in now.

tmac6855

lindens wrote: »

Beggars belief. Take some responsibility for your actions. No-one forced you to take out the loans.
Get yourself over to the debt free wannabee board, do an SOA and try and pay everything off as soon as you can

you don't know the full picture. Barclays should not have let the loans go through if they carried out the affordability checks.

tmac6855

Deleted_User wrote: »

Nothing, unless you feel like taking them to court. It's been judged not to irresponsible lending. But certainly irresponsible borrowing.

Why on earth did you ask for the money if you knew you couldn't repay it?

I have paid the loans back by taking out a secured loan as i was hounded to do so.
I believe Barclays would not have processed the loans if they carried out the affordability checks. I also bank with them so they can even see what is coming in and out of the account each month.

Thanks for your response:T

tmac6855

wjr4 wrote: »

Surely this is a joke?

No joke at all. i was demanded to pay the loans back which i have done.

tmac6855

Can i take them to court??? Any helpers??