Overdraft and Loans taken out whilst having a gambling problem

joepritch93

hi guys

Was advised by someone took seek advise on here so here it goes.

I managed to develop a gambling problem around June this year. i kept extending my overdraft to gamble more up to 2.5K, the maximum Halifax would allow me. Then I got a 1k loan out to cover my overdraft and guess what I ended up gambling that full thousand away as well leaving me 3.5k in debt. I then applied for another 1k loan from Halifax which was then declined.


i have been advised that the overdraft and loan may have been given to me illegaly as they didnt do resposible checks to see where the money was going and that i might be able to get my overdraft charges back and the loan interest.


Thankyou for reading and if there is anything else you need to know dont hesitate to ask!


(over 7 weeks gamble free now!!)

[Deleted User]

joepritch93 wrote: »

hi guys

Was advised by someone took seek advise on here so here it goes.

I managed to develop a gambling problem around June this year. i kept extending my overdraft to gamble more up to 2.5K, the maximum Halifax would allow me. Then I got a 1k loan out to cover my overdraft and guess what I ended up gambling that full thousand away as well leaving me 3.5k in debt. I then applied for another 1k loan from Halifax which was then declined.


i have been advised that the overdraft and loan may have been given to me illegaly as they didnt do resposible checks to see where the money was going and that i might be able to get my overdraft charges back and the loan interest.


Thankyou for reading and if there is anything else you need to know dont hesitate to ask!


(over 7 weeks gamble free now!!)

Who advised you the overdraft and loan we're giving to you illegally? What reason did you give for applying for them....to stake some bets?

Well done on going 7 weeks without placing a bet but you're barking up the wrong tree if you think your debts can be written off.

[Deleted User]

There doesn't appear to be anything illegal.

They granted you the credit you asked for until you exceeded their risk criteria. Consumers rarely take kindly to bring asked what they spend their money on.

The overdraft fees and interest are simply the agreed cost of credit.

joepritch93

I was advised by the leader of financial independence group that I joined to straighten out my money management. cant remember the reason I gave for the loan or the overdraft but I defiantly didn't say it was for gambling. I was loosing hundreds a day then next day extending it ect ect.

Not looking for them to be written off but do feel that they lend me the money when I couldn't control my gambling and they could see that I was clearly gambling more than I could afford (borrowed money).

[Deleted User]

joepritch93 wrote: »

I was advised by the leader of financial independence group that I joined to straighten out my money management. cant remember the reason I gave for the loan or the overdraft but I defiantly didn't say it was for gambling. I was loosing hundreds a day then next day extending it ect ect.

Not looking for them to be written off but do feel that they lend me the money when I couldn't control my gambling and they could see that I was clearly gambling more than I could afford (borrowed money).

Which financial independence group? If you're not looking for them to be written off then what are you wanting to happen, given that you fibbed when applying?

boo_star

Lover_of_Lycra wrote: »

what are you wanting to happen, given that you fibbed when applying?

Perhaps a prison sentence for fraud?

They won't have to pay their debts if they're locked up.

YorkshireBoy

joepritch93 wrote: »

hi guys

Was advised by someone took seek advise on here so here it goes.

I managed to develop a gambling problem around June this year. i kept extending my overdraft to gamble more up to 2.5K, the maximum Halifax would allow me. Then I got a 1k loan out to cover my overdraft and guess what I ended up gambling that full thousand away as well leaving me 3.5k in debt. I then applied for another 1k loan from Halifax which was then declined.

i have been advised that the overdraft and loan may have been given to me illegaly as they didnt do resposible checks to see where the money was going and that i might be able to get my overdraft charges back and the loan interest.

Thankyou for reading and if there is anything else you need to know dont hesitate to ask!


(over 7 weeks gamble free now!!)

Well done Halifax! They are to be commended.

You spent your overdraft facility on gambling.
You applied for a loan to go towards settling the overdraft.
You didn't use it for such purposes, instead you gambled it away.
You asked again for some more money.
They decided that history would repeat itself so declined.

Again, well done Halifax.


NB: The above comments are based on your post not being a wind up!

sourcrates

joepritch93 wrote: »

I was advised by the leader of financial independence group that I joined to straighten out my money management. cant remember the reason I gave for the loan or the overdraft but I defiantly didn't say it was for gambling. I was loosing hundreds a day then next day extending it ect ect.

Not looking for them to be written off but do feel that they lend me the money when I couldn't control my gambling and they could see that I was clearly gambling more than I could afford (borrowed money).

Hi,

Unfortunatly some members of this forum have little time for people in your situation, as re-claiming interest/fee`s tends to be frowned upon.

We can all do stupid things when addiction takes over our every waking thought, gambling is especially common amongst a lot of people, always has been, the thing is, how were the Halifax supposed to know about your troubles, if you didnt tell them ?

They are not mind readers, and they do not monitor where your money is going, there would have been nothing on your credit file to indicate a problem, so the credit was granted at face value, and stopped when it was getting out of control, so really, you have them to thank for not getting you deeper into debt.

Unless they had reasonable cause to believe you should not have been granted credit, such as previous bad debt, they have done nothing wrong, and have, for once, acted responcibly declining your latest application when they did.

This kind of complaint may be justifiable again payday lenders due to the high interest/charges and insufficiant affordability checks they failed to do, but in this case, I don`t see what the bank has done wrong, sorry if that`s not what you want to here.

boo_star

sourcrates wrote: »

Hi,

Unfortunatly some members of this forum have little time for people in your situation, as re-claiming interest/fee`s tends to be frowned upon.

It's not the reclaiming of fees that gets people backs up, it's the lack of personal responsibility.

sourcrates

boo_star wrote: »

It's not the reclaiming of fees that gets people backs up, it's the lack of personal responsibility.

Agreed, in some cases yes, some have shown a shocking lack of responcibility, but a lot have fallen into this pit due to circumstance.
Now I know this is well trodden ground, but to my mind reliance on payday lending is an indicator of a much more severe problem, and should be dealt with on a case by case basis, lots of debtors have addictions of some kind, be it drugs, gambling, alcohol, or abusive partners who coerced them into this debt spiral.


It is simply not a subject you can brush over with a "one size fits all solution", there will always be those who try to "swing the lead" but its the ones who are genuinly hurt by these loans that need help.

boo_star

sourcrates wrote: »

Agreed, in some cases yes, some have shown a shocking lack of responcibility, but a lot have fallen into this pit due to circumstance.
Now I know this is well trodden ground, but to my mind reliance on payday lending is an indicator of a much more severe problem, and should be dealt with on a case by case basis, lots of debtors have addictions of some kind, be it drugs, gambling, alcohol, or abusive partners who coerced them into this debt spiral.


It is simply not a subject you can brush over with a "one size fits all solution", there will always be those who try to "swing the lead" but its the ones who are genuinly hurt by these loans that need help.

The funny thing is I wouldn't expect the legal system to give these people the same leniency that some posters on here do. Yes, they have problems but that doesn't excuse what is, at its core, breaking the law. It may provide a degree of mitigation but people are still expected to face the music regardless.

Perhaps that's a harsh view of things but I, as I have said before, don't believe people are best served by being metaphorically patted on the head and being told "there, there, it's not your fault it's those evil banks."

In this particular instance the bank extended credit for a very limited amount of time, saw an increasing spiral of debt and knocked it on the head pretty quickly. Can't fault them really.