Payday Loans

ToyahHarris28

I’m looking for a bit of advice!
My boyfriends ex took out several pay day loans in his name about 7 years ago. She would draw the money out of their account in cash so he wouldn’t notice. When the money wasn’t being repaid, the loan companies came calling and she basically vanished and my boyfriend was the only one who answered their calls. His parents very kindly took out a bank loan to pay the payday loans back. I’m just wondering if there is anything we can do in terms of reclaiming? As far as I know the loans were all in his name and he is currently working really hard to build his credit score back up because as you can imagine not repaying the loans immediately had an effect! Oh and she also clears out his savings to!!
Any help or advice would be great!:D

DCFC79

ToyahHarris28 wrote: »

I’m looking for a bit of advice!
My boyfriends ex took out several pay day loans in his name about 7 years ago. She would draw the money out of their account in cash so he wouldn’t notice. When the money wasn’t being repaid, the loan companies came calling and she basically vanished and my boyfriend was the only one who answered their calls. His parents very kindly took out a bank loan to pay the payday loans back. I’m just wondering if there is anything we can do in terms of reclaiming? As far as I know the loans were all in his name and he is currently working really hard to build his credit score back up because as you can imagine not repaying the loans immediately had an effect! Oh and she also clears out his savings to!!
Any help or advice would be great!:D

Do tell your bf his score is only seen by himself, lenders see the history.

How did she manahe to clear out his savings ?

She shouldn't have had the access to it.

As for claiming anything back, Im not sure he can, its been 7 years.

ToyahHarris28

That’s one of the issues he’s had- because he’s defaulted on these loans his credit history isn’t good and he’s really struggled to get car loans etc. It has improved the last few years thankfully!

Gaz83

He has two options:

1) Report these as fraud and have them investigated by the police.

2) Accept the loans as his own and deal with the consequences.

Obviously the thing going against option 1 would that it has taken him 7 years to do anything about it. Surely he would have noticed deposits being placed into his bank account and then cash sums withdrawn?

ToyahHarris28

Gaz83 wrote: »

He has two options:

1) Report these as fraud and have them investigated by the police.

2) Accept the loans as his own and deal with the consequences.

Obviously the thing going against option 1 would that it has taken him 7 years to do anything about it. Surely he would have noticed deposits being placed into his bank account and then cash sums withdrawn?

As she didn’t work, she would apply for the loans during the day and as soon as the money was in the account she would draw it out. She hid bank statements from him so he wouldn’t know.
I’ve been looking into if there is anything he can do for a couple of years and have drawn a blank so thought I would see if anyone else knows of anything. Unfortunately it seems as though it’s been left too long.

ToyahHarris28

DCFC79 wrote: »

Do tell your bf his score is only seen by himself, lenders see the history.

How did she manahe to clear out his savings ?

She shouldn't have had the access to it.

As for claiming anything back, Im not sure he can, its been 7 years.

They had access to each other’s accounts- or at least she had access to his.
Well i I thought I’d give it a shot- you never know until you try! 🤷🏻!♀️

DCFC79

ToyahHarris28 wrote: »

They had access to each other’s accounts- or at least she had access to his.
Well i I thought I’d give it a shot- you never know until you try! ����!♀️

No harm in claiming but questions will be asked as to why he didnt do anything nearer the time.

So she hid the bank statements, why did he not query the missing statements nearer the time with the bank or ask the ex ?

Report her to the police for theft.

foxy-stoat

As the fraud happened 7 years ago I doubt the police will be interested in pursuing it, would there be any actual evidence that the fraud happened?

I very much doubt you could bring a small claim to court due to the time lapsed.

ndf9876

I would actually be tempted to make a complaint to the loan companies anyway about this - the evidence is there that he couldn't afford them and I am aware anecdotally that FOS *have* considered complaints where the loan was taken over 6 years ago.

The fraud thing sounds much harder to prove and I would suggest it'd be fruitless to push that angle.

Gaz83

ToyahHarris28 wrote: »

As she didn’t work, she would apply for the loans during the day and as soon as the money was in the account she would draw it out. She hid bank statements from him so he wouldn’t know.
I’ve been looking into if there is anything he can do for a couple of years and have drawn a blank so thought I would see if anyone else knows of anything. Unfortunately it seems as though it’s been left too long.

I don't think you'll get anywhere, unfortunately.

He should have queried the missing statements at the time. Also, a basic condition of any bank account is that you don't share the account details with anyone.

diggingdude

are you certain he isn't making this up?