Affordability complaints?

Winkflower

In 2017/2018 I was living in my 1500 hsbc overdraft, maxed out on my hsbc credit card and got a loan with hsbc to pay those off and cover day to day life.

I then consolidated and got a bigger hsbc loan - 18k which then meant I had more payments to make each month, I got a 4500 mbna cc followed by an aqua card where the debt increased as quickly as the credit limit.

I wasn't budgetting well at all and the interest rate for aqua alone was apbut 38 percent.

Around this time the only way I could get school shoes was by getting a next card, other essentials through Very who gave em a card which turned in BNPL to get through Christmas.

We had a baby in 2019 and moved rented to rented so had more costs, we had vcovud and furlough and got payment breaks.

I then got another new day card - a Marbles one and was using cash withdrawals on credit cards to pay for other credit cards.

My husband was following suit and we had our heads in the sand as financing the debts became unmanageable.

We have been in a dmp since 2022, have sent cca requests and started to get them back but I'm wondering if I would ahve grounds for affordability complaints?

 I do take responsibility for not knowing about budgeting and avoiding the problem amd making it worse but in the end the ineterest was crippling us.

I was thinking about doing them and reading posts albut it but then came across a post where someone had been threatened with a fraud maker for saying they could afford a loan when they couldn't?

In my head I could afford each card and catalogue but un reality I guess I couldn't.

So in reluctant to dry becuase of the tohught of fraud markers - I gave my salary accurately at the time which was part time but I couldn't actually afford them as time showed.

Should I send some? Maybe to aqua for keeping increasing? Very for the increases and bnpl when already had 18k hsbc loan and mbna? Maybe Marbles for giving Mr another new day card when I already had 4.4k on aqua and was withdrawing cash from a 38 percent interest card just to pay into other ones.

All were always minimum payments. I was never in the black in my account.

Thabks for any thoughts or advice.

I now have no ccs and have gone from 42k debt to 23k but its a slog.

Thanks

Wx

Winkflower

In 2017/2018 I was living in my 1500 hsbc overdraft, naked out on my hsbc credit card and got a loan with hsbc to pay those off and cover day to day life.
I then consolidated and got a !!!!!! hsbc loan which the  meant I had more payments to male each month, I got a 4500 mbna cc followed by an aqua card where the debt increased as quickly as the credit limit.
I wasn't budgett8ng well at all and the interest rate for aqua Allen was apbut 38 percent.
Around this time  the only way I could get school shoes was by getting a next card, other essentials through Very who gave em a card which turned in BNPL to get through Christmas.
I then got another new day card - a Marbles one and was using cash withdrawals on credit cards to pay for other credit cards.
My husband was following suit and we had our heads in the sand as financing the debts became unmanageable.
We have been in a dmp since 2022, have sent cca requests and started to get them back but I'm wondering if I would ahve grounds for affordability complaints?
 I do take responsibility for not knowing about budgeting and avoiding the problem amd making it worse but in the end the ineterest was crippling us.

I was thinking about doing them and reading posts albut it but then came across a post where someone had been threatened with a fraud maker for saying they could afford a loan when they couldn't?
In my head I could afford each card and catalogue but un reality I guess I couldn't.
So in reluctant to dry becuase of the tohught of fraud markers - I gave my salary accurately at the time which was part time but I couldn't actually afford them as time showed.

Should I send some? Maybe to aqua for keeping increasing? Very for the increases and bnpl when already had 18k hsbc loan and mbna? Maybe Marbles for giving Mr another new day card when I already had 4.4k on aqua and was withdrawing cash from a 38 percent interest card just to pay into other ones.
All were always minimum payments. I was never in the black in my account.

Thabks for any thoughts or advice.

I now have no ccs and have gone from 42k debt to 23k but its a slog.

Thanks

Wx

Winkflower

Maxed out*,  18k hsbc loan, tried to edit the typos ! 
Thanks for any help x

Rob5342

Www.debtcamel.co.uk is a good place to ask about this. I used to frequent it a lot and got some good advice there. From what I remember there were some unscrupulous lenders who threatened fraud markers but i don't remember any cases where it actually happened. Check the timescales, you can only escalate complaints to the FOS if is less than 6 years since the event happened or if it less than three years since you became aware thst you could complain. The latter can be difficult to argue. The FOS also often ask for statements or credit reports which can be difficult or impossible to get hold of later on. 

You can get vwry good results and there is nothing to lose by trying, but keep the above points in mind and use them to manage your expectations. 

PalmSprings2024

It’s definitley worth doing - you need to complain to the business first and they have 8 weeks to respond. If you disagree with their response only then can you refer to the Financial Ombudsman which can take a while. I had over £10,000 in interest and fees refunded from Amex, a loan from Santander reduced to the amount borrowed and the interest removed and a credit limit increase from Virgin Money held unaffordable. It does take a bit of time and requires some work but definitely worth a try. On the fraud point, my understanding is that they still need to check your affordability and should look behind what you tell them when assessing affordability. They need to take proportionate and reasonable checks. I could be wrong though but no lender has ever brought this up with me and I’ve had 3 complaints upheld. Hope this helps! 

ManyWays

In my head I could afford each card and catalogue but un reality I guess I couldn't.
You both ended up in a DMP, so some lenders have lent you a lot more than you could afford!

I gave my salary accurately at the time which was part time but I couldn't actually afford them as time showed.
Then that isnt fraud (and nor is getting the salary a bit wrong.) Inventing a job you dont have is potentially fraud, but even then unless the credit is very small the lender should make some attempt to verify the income. I think this is non issue.

Should I send some?
I suggest that top of your list should be any overdrafts as asking for the CCA for them wont work

Maybe Marbles for giving Mr another new day card when I already had 4.4k on aqua and was withdrawing cash from a 38 percent interest card just to pay into other ones.
Credit is individual so Marbles wouldnt be expected to take your debts into account when looking at an application from your husband.

Maybe to aqua for keeping increasing? Very for the increases and bnpl when already had 18k hsbc loan and mbna?
Those sound more likely. BUT have you asked for the CCA agreements? If they cant be found then this is a simpler option. No point in making affordability complaints if the CCA cant be found.

And that 18k HSBC loan could be a good affordability complaint if the CCA agreement is produced, or if it hasnt been sold so you havent asked. 

You can make complaints about credit that started over 6 years if it was still going within the 6 years but these get harder. Dont delay in making complaints and risking more going over the 6 year mark.

Who is your DMP with?

Scarlet_to_Black

Maybe Marbles for giving Mr another new day card when I already had 4.4k on aqua and was withdrawing cash from a 38 percent interest card just to pay into other ones.

Credit is individual so Marbles wouldnt be expected to take your debts into account when looking at an application from your husband.

@ManyWays I could be wrong but I think that’s a predictive text error and Mr is actually ‘me’.  

ManyWays

Scarlet_to_Black said:

@ManyWays I could be wrong but I think that’s a predictive text error and Mr is actually ‘me’.  

haha you are probably right!

Scarlet_to_Black

ManyWays said:

Scarlet_to_Black said:

@ManyWays I could be wrong but I think that’s a predictive text error and Mr is actually ‘me’.  

haha you are probably right!

Always!! 😜🤣

Winkflower

Ha yes it was a typo, was typing on the run. 
It was my 2nd new day card.

The overdraft I've had since being a student il2094 and in it mostly since then but was in the black one a while in 2014-2017 so I'd had that overdraft for many years 

I've asked for CCAs. Have had them back from Very x2, hsbc, cc, natwest. Next couldn't find it so will stop paying that one. 5 x with link (3 x mine and 2 x my husband's) and 118 are on hold while they look for them.

Hsbc cc started 2014, in OD pretty much since 2001 as mentioned above. 

Hsbc loan 2018, mbna 2019, then followed aqua, very, next Marbles so mainly 2018-2021 then dmp with step change since 2022. All ongoing and within last 6 years.

The hsbc cca hasn't arrived yet, requested 28th march by letter and by phone 28th April.

Thankyou so much for your help and thoughts

Wx

Winkflower

Overdraft since 2001 x