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Loan / Gambling / irresponsible Lending (and me)

edited 24 August 2019 at 4:22AM in Loans
36 replies 5.3K views
MynameisjackMynameisjack Forumite
1 posts
edited 24 August 2019 at 4:22AM in Loans
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Replies

  • boo_starboo_star Forumite
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    As a responsible lender do they not have a duty to be aware of such account activity and take this into consideration when deciding on whether to give me the loan in the first place? If they did, they would have declined me for sure.

    Many people gamble responsibly (some even make a career out of it.) I suspect if they refused to lend you money because you gamble you'd have complained that is was discriminatory.

    My credit rating at the time of applying would have shown many and I mean many applications for credit leading up to my application with nationwide, should this be questioned or at least recognised? I get the impression some banks do not run a full / in depth credit check when you have been banking with them but more of a surface internal check. Maybe I’m wrong?

    No. See the reasons above. They're not your keeper.
    I am left wondering if lenders, mainly banks are being too casual when processing loan applications. Does anyone share this feeling?

    Quite the opposite, mainstream lenders have become LESS casual than they were 12 years ago.
    Surely if I have a bank with them my gambling activities should activate some sort of Vulnerable Client alarms?

    Gamblers aren't, by default, vulnerable and the banks certainly aren't in charge of your finances.
    I am wondering and hoping if I have a case to complaint sighting “irresponsible lending” and fight to get the loan written off.

    Bloody hell! So you want them to not only write off the interest but to give you a free £25000 loan. My jaw is agape.
    I would expect in this time of the FCA clamping down on banks for breathing out of turn that they would be a lot hotter on this type of thing....!

    Seriously?
    Any thoughts on the above will be appreciated?

    My thought is this has to be a troll.
  • SnowTigerSnowTiger Forumite
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    Don't ask; don't get.

    What resolution do you want? For the loan to be forgiven and a few thousand pounds compensation?

    That seems reasonable.

    My advice: send a written complaint to Nationwide explaining that you lied on your loan application; and berate them for believing you and not doing thorough enough background checks.

    https://www.nationwide.co.uk/support/contact-us/make-a-complaint#tab:Makeacomplaint

    Take your complaint to the FOS if Nationwide won't play ball.

    https://www.financial-ombudsman.org.uk/

    It seems like an open and shut case to me.
  • BermoniaBermonia Forumite
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    SnowTiger wrote: »
    Don't ask; don't get.

    What resolution do you want? For the loan to be forgiven and a few thousand pounds compensation?

    That seems reasonable.

    My advice: send a written complaint to Nationwide explaining that you lied on your loan application; and berate them for believing you and not doing thorough enough background checks.

    https://www.nationwide.co.uk/support/contact-us/make-a-complaint#tab:Makeacomplaint

    Take your complaint to the FOS if Nationwide won't play ball.

    https://www.financial-ombudsman.org.uk/

    It seems like an open and shut case to me.

    I assume this is sarcasm lol

    OP you committed fraud and now wants to be compensated for it... checks would’ve been proportionate for your singular loan with Nationwide, and after admitting to committing fraud expect there to be a CIFAS (fraud reporting agency) marker on your history thus impacting any future dealings.
  • Craig1981Craig1981 Forumite
    768 posts
    Agreed with Bermonia

    You fraudulently secured the loan with regards to your application by bettering answers and leaving out debt and expenses.
    in gambling terms, thats betting on a horse that they say is 4 years old and placed in every race, when in truth the horse is 14 years old and never finished a race. If that horse won, would the bookie be coming at you for irresponsible betting?
  • DCFC79DCFC79 Forumite
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    Sorry OP but I cant see the loan being written off, you yourself have stated you lied about your outgoings on the application.

    Yes your credit history (not credit score) may show searches were made but how many of them went as far as being accepted and the loans were given ?

    No harm in trying to get anything out of NW but I fear the answer will be no.
  • Ebe_ScroogeEbe_Scrooge Forumite
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    OP, where are you based - England or Scotland ?

    I only ask because in Scotland the school summer holidays have already finished, so you really should be back concentrating on your studies.
    I may not know much about art, but I know what I like.
  • mcpitmanmcpitman Forumite
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    You have no case against Nationwide, particularly as your loan was approved due to fraudulent reasons and lying about incoming/outgoings.


    Suck it up and pay off your debt that you accumulated, through decisions you made in your life.


    I have every sympathy for your addictions and demons in life, but none of these are Nationwide's fault.
    Life isn't about the number of breaths we take, but the moments that take our breath away. Like choking....
  • AndyPixAndyPix Forumite
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    he's not coming back
    Running with scissors since 1978 :)
  • Paul_DNAPPaul_DNAP Forumite
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    I'm afraid I have to agree with the above, and you're in an impossible situation - if you go down the route of trying to say they ought not to have loaned to you, then you will have to admit to the lies you told on your application, which could have much more serious consequences than you are in now as you're admitting what could be seen as an act of criminal fraud.

    So whilst they do indeed have a duty to be a responsible lender, you also have duty to be a responsible borrower and - possibly due to the situation you were in - I feel it is you who failed at your duty, and not them at theirs.
    (Although I could be wrong, I often am.)
  • TallaghtTallaght Forumite
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    Contact all the online gambling sites you may have used and ask for 'self-exclusion' for life.
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