Irresponsible lending

diystarter7

Seriously, are you lot really trying to help the OP?  Some of the comments here are uncalled for and bickering to look good at best.

MrFrugalFever

Unless my maths has gone awry overnight, I could be mistaken for thinking that 2 x £25k is £50k not £45k so why the £5k difference.

it seems like you had a moment of madness applying twice and really should be using the 14 day cooling off period to repay the excess amount above the original intended amount.

I earn a decent income and even I wouldn’t want to commit to £25k loan let alone £45k.

I hope you get it sorted.

fatbelly

JJ_22 said:

Not sure if this fall under irresponsible lending or not so wanted to get some opinion's…

I applied for a £25,000 to consolidate loans. I was pre-approved for this through credit karma. Anyway, long story short I ended up applying for it twice and ended up with £45,000 in my bank about 24 or so hours later. No proof of income or anything required. Credit score was pretty bad to. 

On their website it says they only give personal loans up to £35,000 so not sure if they even made a mistake giving out £45,000 so easily. 

I’m incredibly impulsive due to having adhd and unfortunately blew about half of it on stocks in 2 days… but that’s not the lenders fault, just my lack of dopamine giving me terrible impulse control! 

Also from what I can remember, the income question was pretty general. I think the amount of income I put on the application(s) was an average amount I put in including regular overtime (not guaranteed) 

So without this overtime I absolutely can not afford this somewhat accidental loan that’s twice the amount that I had originally planned.

so my questions are…

1. Is it irresponsible lending for them to have granted 2 very large loans in the space of possibly 2 minutes? 

2. Is it irresponsible for them to have granted £10,000 over what they advertise as the maximum personal loan amount? 

3. How do I go about getting a copy of the application I would of filled out at the time as I can’t remember exactly what I put on it.

4. Is it irresponsible to give such a large loan so quickly with out having some sort of proof of income and outgoings? 

Any advice would be greatly appreciated! 

On (3) you can do a subject access request. Details here

https://ico.org.uk/your-data-matters/your-right-to-get-copies-of-your-data/

On the other questions, yes it's possible that the lender did not do all the checks they should have done, and that this falls under unaffordable lending. Guide here:

https://debtcamel.co.uk/refunds-large-high-cost-loans/