Buddyloans - Complaint for mis-sold guarantor loan

Jsacker

SpreadableToast said:

sourcrates said:

SpreadableToast said:

sourcrates said:

bradman28 said:

I have used the resolver complaint escalation system and had a response from Buddyloans threaten they would report me to Cifas by claiming I lied on my application towards affordability. Has anyone else had this as their final response?

And did you lie ?

Basically its a ploy to try to persuade you to drop your complaint, you cannot be penalised for making a complaint, its your statutory right to do so.

What exactly has transpired prior to these events, you made a complaint about ?

No, but if the OP is claiming that it was unaffordable and they are now claiming that their income was lower than was stated, they're perfectly entitled to give them a CIFAS marker for it.  Its fraud, regardless of whether the loan company should have done more checks.  It;'s about time they stop rolling over for this kind of thing.

You’ll find quite a large percentage of borrowers lie about their income, in days gone by it was the brokers who falsified debtors income in order to obtain the finance, brave new world.

IF that's true (I don't really think it is but that's an argument for another day) then that's all the more reason to support companies that are actually doing something to try and put a stop to it (or at least take steps to discourage it) rather than vilifying them because you don't happen to like their business model.  And I think it says a lot about you if your response is basically "well everyone does it so who cares?"

What's the solution if sourcrates is correct about large percentages of people lying on applications? CIFAS markers for all?

I did an application a few months ago for a card and lied on the form; put in income/expenditure values in a lazy manner which were pretty close to real figures but guesstimates. For example, overestimating my wage by £30 (rounding up). CIFAS marker for me there as well?

As I said previously, I think a CIFAS marker is required but only when there's some serious level of fraud. If it is some tatty "fraud" in the manner I admitted to then that's super super harsh + it, frankly, wouldn't be in the public interest (certainly when it comes to prosecuting, not sure about how CIFAS markers work tho). You probably would be prosecuting hundreds of thousands of people (after going through applications with a fine tooth comb) and the backlash would be immense. 

John_

SpreadableToast said:I

sourcrates said:

SpreadableToast said:

sourcrates said:

bradman28 said:

I have used the resolver complaint escalation system and had a response from Buddyloans threaten they would report me to Cifas by claiming I lied on my application towards affordability. Has anyone else had this as their final response?

And did you lie ?

Basically its a ploy to try to persuade you to drop your complaint, you cannot be penalised for making a complaint, its your statutory right to do so.

What exactly has transpired prior to these events, you made a complaint about ?

No, but if the OP is claiming that it was unaffordable and they are now claiming that their income was lower than was stated, they're perfectly entitled to give them a CIFAS marker for it.  Its fraud, regardless of whether the loan company should have done more checks.  It;'s about time they stop rolling over for this kind of thing.

You’ll find quite a large percentage of borrowers lie about their income, in days gone by it was the brokers who falsified debtors income in order to obtain the finance, brave new world.

IF that's true (I don't really think it is but that's an argument for another day) then that's all the more reason to support companies that are actually doing something to try and put a stop to it (or at least take steps to discourage it) rather than vilifying them because you don't happen to like their business model.  And I think it says a lot about you if your response is basically "well everyone does it so who cares?"

That poster seems to have a grudge against lenders.
OP, as others have said, if you lied about your income then you are opening a real can of worms by complaining that no-one noticed the lie.
If not then supplying some more facts would be helpful to people trying to offer you advice here.

John_

Jsacker said:

SpreadableToast said:

sourcrates said:

SpreadableToast said:

sourcrates said:

bradman28 said:

I have used the resolver complaint escalation system and had a response from Buddyloans threaten they would report me to Cifas by claiming I lied on my application towards affordability. Has anyone else had this as their final response?

And did you lie ?

Basically its a ploy to try to persuade you to drop your complaint, you cannot be penalised for making a complaint, its your statutory right to do so.

What exactly has transpired prior to these events, you made a complaint about ?

No, but if the OP is claiming that it was unaffordable and they are now claiming that their income was lower than was stated, they're perfectly entitled to give them a CIFAS marker for it.  Its fraud, regardless of whether the loan company should have done more checks.  It;'s about time they stop rolling over for this kind of thing.

You’ll find quite a large percentage of borrowers lie about their income, in days gone by it was the brokers who falsified debtors income in order to obtain the finance, brave new world.

IF that's true (I don't really think it is but that's an argument for another day) then that's all the more reason to support companies that are actually doing something to try and put a stop to it (or at least take steps to discourage it) rather than vilifying them because you don't happen to like their business model.  And I think it says a lot about you if your response is basically "well everyone does it so who cares?"

What's the solution if sourcrates is correct about large percentages of people lying on applications? CIFAS markers for all?

Yes, that’d probably be the right outcome. Of course, discretion can be shown if the difference is immaterial, but that’s not really what was being suggested.