Student loans and pensions

Ginger.ice

Here's a new and troubling development. I only raised my complaint last night and Peachy have already issued their final response. It was quite detailed and clearly refers to my specific case, so I am happy that they have looked into it.


The troubling aspect is that within the bulk of this email, they threaten to report me to the relevant authorities for application fraud as I must have provided them with false information. This threat is clearly designed to make me drop my complaint. It is pretty much blackmail.


Has anyone else had this?

Bear04

Ginger.ice.
Ive not got in touch with Peachy yet to lodge a complaint with them but when I did try to deal with them previously about being in financial difficulty and not being able to make a payment they were a nightmare!!!! to deal with.
Not sure where you would stand with application fraud but sure someone can advise.

Ginger.ice

Cheers, going to discuss it with the Citizens Advice Bureau and the FOS. If this is their new tactic I am appalled!

Bear04

Lets just say I was less than truthful with most of expenditure info I supplied to all my PDLs but I assume most people using them are the same.

justinsrival

I've had the same problem - then I ask what is the point of the lender doing a credit check (that would show existing financial commitments) if all they're going to do is read the application form? Surely the two should be used in conjunction - "they've said they have this much money spare... lets check that along with what all the monthly repayments they have on their credit report".

Ginger.ice

justinsrival wrote: »

I've had the same problem - then I ask what is the point of the lender doing a credit check (that would show existing financial commitments) if all they're going to do is read the application form? Surely the two should be used in conjunction - "they've said they have this much money spare... lets check that along with what all the monthly repayments they have on their credit report".

Was that from Peachy to, or have more PDLs resorted to this scare tactic?

Bear04

Correct justinsrival. I would have thought that the majority of people applying for PDLs were doing so as they were desperate for money (as I was) and had no where else left to go therefore they would be highly likely to lie on their application form about how much they earned and what their expenditure was.

Bruster

I can't remember being untruthful on mine. However when applying and owing thousands to other companies, I never classed that as a regular monthly outgoing. So put 0.

All they needed to do was have a check box. Do you have any other payday loans. If so, how much?

I never recalled a lender asking this.

Delete33

This is the PDL running scared, shocking!!!!!!!!!! Nothing more to say.

justinsrival

Ginger.ice wrote: »

Was that from Peachy to, or have more PDLs resorted to this scare tactic?

This was with Lending stream - it's hard to remember what was put down as living costs 3 or more years ago so this is really their only fall back.

Regardless of what they say - a "robust affordability check" would have involved reviewing outstanding financial commitments. There is a reason why credit reports exist, and why they stay on your file for 6 years. I still think it is a farce for anybody to say they can lend whatever they like to a person just because they said they had X amount of disposable income and ignore what is said on a credit report.