Loan issue with credit union when they knew i had a gambling issue

col81

I joined a credit union 6 years ago and started with a small loan of £500 i over time went to them a lot and became friendly with the staff. The staff were aware i had a gambling issue and i went to the local bookmakers most days and we even joked about it. They were also aware i had changed jobs. To cut a long story short they allowed me to borrow £9500 which they admitted was a very large loan for them to give out. I have paid £7000 of this back and still owe £2500. i have complained to them stating i had a gambling issue and they knew it and should never have gave me the money. i don't gamble anymore. With this being a local credit union who do i complain to? and what are they likely to do about it? the staff who i dealt with have since left i have been told. 

[Deleted User]

You complain to the credit union. 

Unless the CU staff you spoke to were personally manually underwriting the loans, they're not likely to do anything.  It also doesn't sound as if you highlighted it as a problem, if you joked about it with them.

2021BJ

So you borrowed £9500 and are expected to pay back £9500 making this an interest free loan?

MEM62

col81 said:

who do i complain to? 

I would start with the bloke in the mirror.  He asked for the loans.      

User_101122

What are you trying to achieve here?
Are you seriously expecting some kind of recourse from the credit union because you borrowed their money to gamble?
Would you still be wanting to make a complaint if all your bets had come in?
This post has got to be a wind up.

superbigal

4/6   applying for loans everywhere still
7/4     Wind Up

User_101122

I lost a tenner at Cheltenham last week on a 200/1 donkey that still managed to come in third.  Now I didn't back it each way by mistake because I got distracted when placing the bet, but the bookies know I always back my horses either way.  I've even joked about it with the staff in there.
Who do I complain to because the bookies know I always back my horses either way and should have stopped me backing it to win, but they didn't so now I am a tenner down as opposed to ££££ up.

2021BJ

tight4rse said:

What are you trying to achieve here?
Are you seriously expecting some kind of recourse from the credit union because you borrowed their money to gamble?
Would you still be wanting to make a complaint if all your bets had come in?
This post has got to be a wind up.

Who knows.  In previous threads, they've been talking about getting an expensive watch on 0% finance for their birthday, at least when all the black marks drop off their credit file.

Perhaps when they get buyers remorse there'll be another irresponsible lending complaint being written up.

User_101122

Mate on a serious note joking aside.  You are unlikely to get anywhere by arguing you should not have got the funds due to being a gambler.  If they have written a loan knowing you couldn't afford it that would be a different matter.  Were you struggling with affordability at the time and did the lender do any checks to establish your affordability prior to writing the loans?

2021BJ

tight4rse said:

Mate on a serious note joking aside.  You are unlikely to get anywhere by arguing you should not have got the funds due to being a gambler.  If they have written a loan knowing you couldn't afford it that would be a different matter.  Were you struggling with affordability at the time and did the lender do any checks to establish your affordability prior to writing the loans?

Bear in mind that as of right now, the OP seems to be indirectly claiming this was an interest-free loan.  If it really was this complaint wouldn't really go anywhere even if it was unaffordable/irresponsible.  Neither the Ombudsman nor a judge would tell the CU they have to write off the capital they loaned the OP.

User_101122

No you’re right from the complaints I’ve seen in the past they usually write off interest and charges and make them rewrite the loan to an affordable amount. But I suspect the op will be long gone by now.