Payday Loan issue

steveh31

foxy-stoat wrote: »

Why not find out and report back - if your credit file was hit with fraud markers it would serve as a lesson for everyone else who wants to lie on loan application forms to get money from lenders that offer loans with ridiculous interest rates.

Glad you dont owe them any money now though...good job.

My credit file has been none existent since 2000 when my ID was used by a "friend" who then did a run when he got found out and it was revealed he had used my name and details under a false address but that's a separate issue, my issue is who is in the wrong here, me for being able to type in any info I want on a form unchallenged or the company for giving me the money?

ciderboy2009

I would have thought that 99% of loan companies (ie: not just sub-prime) are exactly the same. Hence the reason why you sign (electronically if online) to say that the information you have entered is correct.

The only "loans" I've ever taken out which has required me to prove my income and outgoings have been mortgages.

foxy-stoat

You are for not being truthful on the application form, but you paid them back did you not?

Difficult to see where you can go with this, unless you took loan out by lying about your employment then defaulted on it and ended up owing them 5 times the loan amount. Then you could make representations and try the old mis-selling bit.

I took a loan out with Natwest a year ago, told them my salary and who I worked for but they never checked - paying them back as I should but dont think I can make complaints about them not checking me out before adding a few thousand to by account.

It is up to the applicant to be truthful, even says that on the application form, fraud warnings etc.

I guess your either in the mis-selling camp or mis-buying.

steveh31

foxy-stoat wrote: »

You are for not being truthful on the application form, but you paid them back did you not?

Difficult to see where you can go with this, unless you took loan out by lying about your employment then defaulted on it and ended up owing them 5 times the loan amount. Then you could make representations and try the old mis-selling bit.

I took a loan out with Natwest a year ago, told them my salary and who I worked for but they never checked - paying them back as I should but dont think I can make complaints about them not checking me out before adding a few thousand to by account.

It is up to the applicant to be truthful, even says that on the application form, fraud warnings etc.

I guess your either in the mis-selling camp or mis-buying.

I haven't took a loan out since June but unless they have had sweeping changes on their policy then I could just fill in the boxes again with outdated information.

I never defaulted on any of the loans only the usual extend per month what I am saying is surely there must be other people with little money who can just go to this major company and get money.

I don't even know who you could report it to I looked on Google but the companies just seem to be the usual ones who are not helplines but companies wanting to charge you.

Is there a department you can contact?

-taff

steveh31 wrote: »

, my issue is who is in the wrong here, me for being able to type in any info I want on a form unchallenged or the company for giving me the money?

You are the one signing to say to the best of your knowledge the info you have given is correct....

Pixie5740

I don't understand. What is it that you want to report and to whom? Are you wanting to find some government body to contact to admit that you lied on multiple loan applications?

steveh31

-taff wrote: »

You are the one signing to say to the best of your knowledge the info you have given is correct....

they did not check the information I gave them and gave me £200 with no idea if I had the money to pay it back, as they had not bothered to check my circumstances since 2008.

steveh31

Pixie5740 wrote: »

I don't understand. What is it that you want to report and to whom? Are you wanting to find some government body to contact to admit that you lied on multiple loan applications?

Someone said I should report them for not checking my details but who do you report them to?

foxy-stoat

steveh31 wrote: »

they did not check the information I gave them and gave me £200 with no idea if I had the money to pay it back, as they had not bothered to check my circumstances since 2008.

Do they need to check your information when they have your completed online application saying the information you have input is true and to the best of your knowledge for a loan of £200?

foxy-stoat

steveh31 wrote: »

Someone said I should report them for not checking my details but who do you report them to?

Who IS this someone? Do they know anything about financial conduct regulations and the law?