Irresponsible lending complaints advice

RAS

If you are "overpaying", hopefully Castle will co-operate.

MattMattMattUK

Debtmess2010 said:

Do I need to be worried about CIFAS report I've just done a quick Google!!!

Did you lie on your application? If you said you were earning significantly more than you were then they could flag you for application fraud. If you rounded up to the nearest thousand then that does not really matter, if you stuck several thousand on your earnings then probably, if you stick more than ten thousand on it the they will almost certainly flag you.

Rob5342

There have been a number of comments on debt camel about lenders saying people have been dishonest or threatening cifas markers, in most cases they seem to be trying to intimidate people into not taking the complaint further. I've never seen a comment about it actually happening. I'm not sure how that applies to credit unions though , by all accounts they can be quite aggressive when it comes to outstanding debt. 

People have won complaints against Castle at the FOS, take a look at this one for example:

https://www.financial-ombudsman.org.uk/decision/DRN-5481107.pdf

Debtmess2010

Yes I had my previous wage income on the application from several years prior, im not proud of it but yes I did lie on the income part of it. 

MattMattMattUK

Debtmess2010 said:

Yes I had my previous wage income on the application from several years prior, im not proud of it but yes I did lie on the income part of it. 

By how much?

Debtmess2010

@MattMattMattUK
I think it was about 10k, should I just keep quiet with them and just carry on paying the £200 agreed repayment rather than stir the waters with the FOS? 

MattMattMattUK

Debtmess2010 said:

@ MattMattMattUK
I think it was about 10k, should I just keep quiet with them and just carry on paying the £200 agreed repayment rather than stir the waters with the FOS? 

That is certainly enough for them to be able to flag it on CIFAS, but I am not sure what actually happens with an application fraud flag if the core complaint is upheld by the FOS. All marks on CRA reports need to be removed, but CIFAS is not a CRA and there has never been a clear answer as to what happens. 

I expect it is largely a hollow threat as if they are going to do it then they are obliged to do it regardless, threatening to do it if you take the complaint to the FOS could be deemed blackmail and would be unlikely to be well received by the Ombudsman or the regulator so personally I would go for it, but obviously that is up to you.

Debtmess2010

@MattMattMattUK
Thank you Matt appreciate your advice I think I'll still go for it...I know I've made some awful financial decisions! I've just got to keep ploughing through it all, learn the lessons and what will be will be..thanks again 

Rob5342

https://forums.moneysavingexpert.com/discussion/comment/81855807#Comment_81855807

You could post a comment here, as Sara, who runs the site, has a lot of experience in how FOS complaints pan out. She also mentions Castle at the top:

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

I used to read that site a lot and there were lots of comments from people worried about CIFAS markers but I didn't see any where it had actually happened. A lot of the time they seem to word replies to try and dissuade you from taking it any further, as it will cost the £600 or so even if you lose. Uncle Buck was the worst reply I had, they were very unpleasant saying my complaint was "frivolous and vexatious" and making claims about it being fradulent etc.

If you look at the publised FOS decisions there are cases where people have put false income figures on their application forms and the FOS decided that the lender should have done more to verify what they said.

RAS

There have been cases on here of credit unions recording CIFAS markers. I think @fatbelly reported one overturned after a complaint. Don't know which it was. But AFAWK those did not relate to accounts where income had been inflated.