HBOS shares

Smi1er

noddy321 wrote: »

I feel these banks should be far more responsible in the limits they give people.

Why Are you not an adult and responsible for your own actions?

I earn enough to walk into any car dealership and get HP on any car but hardly sensible to get a HP loan out on a £130K Ferrari.

Unfortunately you got caught chasing a drop in the value of your shares. Not the banks fault but yours.

sciencegeek

I am sympathetic in regards to your circumstances but I will use an analogy to explain what I think of your 'investing'.....

1)My car can potentially be driven at 100 mph.
2)I did not request that the manufacturer to make the car faster than the speed limit.
3)Even though the car can go fast I still stick to a speed I am happy with.

If I CHOOSE to drive the car at 100mph in a 30mph zone the manufacturer is NOT responsible for my arrest.

Just because a facility is made available to you does not mean you have to make use of that facility. You could have arranged with the bank to lower your limit. You could have switched banks if you were unhappy with the services you were being offered.

If you had 'invested' the full £320,000 and made a profit of say £100,000 would you have given most of this back to the bank? After all they are fully responsible for your actions and should reap the benefits right???? no i didnt think so!

noddy321

sciencegeek wrote: »

I am sympathetic in regards to your circumstances but I will use an analogy to explain what I think of your 'investing'.....

1)My car can potentially be driven at 100 mph.
2)I did not request that the manufacturer to make the car faster than the speed limit.
3)Even though the car can go fast I still stick to a speed I am happy with.

If I CHOOSE to drive the car at 100mph in a 30mph zone the manufacturer is NOT responsible for my arrest.

Just because a facility is made available to you does not mean you have to make use of that facility. You could have arranged with the bank to lower your limit. You could have switched banks if you were unhappy with the services you were being offered.

If you had 'invested' the full £320,000 and made a profit of say £100,000 would you have given most of this back to the bank? After all they are fully responsible for your actions and should reap the benefits right???? no i didnt think so!

You say that I could of arranged with the bank to lower the limit. I actually phoned several times, wrote and emailed asking them to lower it but they didnt. It was not until I started losing money that the limit started going down.

sciencegeek

Its very very very unlikely but if you have a paper trail documenting your requests to lower the limit you might have a case (im not a lawyer though). Ive heard of betting shops being claimed against because they kept taking bets from obsessive addicted gamblers who asked to be barred but were not and therefore were more or less unable to help themselves. However I think the last case I heard about along these lines the gambler was not succesful in their claim in any case.
You might have to admit to being addicted and unable to help yourself though if you try to go that route! You never know you might set a legal precedent although Im not sure it would be a good thing - think of all the risky sharedealing people would do if they knew they could fall back on blaming the bank!!

noddy321

sciencegeek wrote: »

Its very very very unlikely but if you have a paper trail documenting your requests to lower the limit you might have a case (im not a lawyer though). Ive heard of betting shops being claimed against because they kept taking bets from obsessive addicted gamblers who asked to be barred but were not and therefore were more or less unable to help themselves. However I think the last case I heard about along these lines the gambler was not succesful in their claim in any case.
You might have to admit to being addicted and unable to help yourself though if you try to go that route! You never know you might set a legal precedent although Im not sure it would be a good thing - think of all the risky sharedealing people would do if they knew they could fall back on blaming the bank!!

I have already contracted the FOS.
Yes I was naive and foolish but I still believe that to give someone a 320K trading limit when they knew I had a 5K income is madness. And yes I know I did not have to spend any of it but why give these facilities when I never asked for it. If I had of asked for it and lost all my money it would have been 100% my fault but I do think the bank should take some responsibility.

setmefree

purch wrote: »

It's time for people to start taking personal responsibility again, rather than blaming everyone else for their problems.

Totally agree, and perhaps now the Banking Industry would like to return the £80 billion plus back to the public funds, as you say it's about time everyone realised their errors, and stood on the own two feet, instead of blaming others for bad debt.;)

dunstonh

I have already contracted the FOS.

I hope your complaint fails. Nothing personal against you but if you open the door that allows people who make bad investment decisions to get their money back then you may as well kiss goodbye to the UK as a trading entity.

The FOS of course will not look into your complaint and will just forward it to the stockbroker services involved as you can not bypass the official complaints procedure. They will look to make sure no advice was given to you and the correct disclosures were issued. If so, they can reject you complaint knowing that they have done nothing wrong. At that point you can exercise your right to go to the FOS. However, investment returns are something you cannot complain about and you didnt get advice so you cannot complain about that. So, you need to decide what your complaint is about. At the moment it appears your complaint is that you used a service that you chose to buy and utilised the features that went with that product/service. That wont get you far.

The comments on this thread are not personal against you. The problem is that you chose to do the things you did and now you are looking for a scapegoat. Why are you not responsible?

noddy321

dunstonh wrote: »

I hope your complaint fails. Nothing personal against you but if you open the door that allows people who make bad investment decisions to get their money back then you may as well kiss goodbye to the UK as a trading entity.

The FOS of course will not look into your complaint and will just forward it to the stockbroker services involved as you can not bypass the official complaints procedure. They will look to make sure no advice was given to you and the correct disclosures were issued. If so, they can reject you complaint knowing that they have done nothing wrong. At that point you can exercise your right to go to the FOS. However, investment returns are something you cannot complain about and you didnt get advice so you cannot complain about that. So, you need to decide what your complaint is about. At the moment it appears your complaint is that you used a service that you chose to buy and utilised the features that went with that product/service. That wont get you far.

The comments on this thread are not personal against you. The problem is that you chose to do the things you did and now you are looking for a scapegoat. Why are you not responsible?

So what about Northern Rock, they didnt take responsibility they expected the public to bail them out!

jem16

noddy321 wrote: »

The reason I invested in shares was to give myself an income so that I could be a full-time mum to my children and not have to live off handouts from the state.

You are to be commended for wanting to look after your own children without state handouts. However gambling the only money you had to buy shares was not the responsible way to do it.

I did not want my children to be stuck in a nursery fulltime, why have children if thats what you are going to do?

They would have been better of stuck in the nursery full time than be without a house now because mum blew the money by making bad investment choices.

I worked in the evenings part-time doing book-keeping. I still admit I was foolish but I do think banks also have to take some of the blame by putting offering money that I did not ask for.

The banks are running a business. Their business is to lend money. They did not force you to take it.

Firstly I am female (I expect you will all have another laugh about that) and 2 years ago my partner walked out on me and my 2 and 4 year old children so I had no option but to sell my house.

Being a single mum is all the more reason to be responsible and not the reason to be irresponsible.

So what about Northern Rock, they didnt take responsibility they expected the public to bail them out!

No they didn't. They looked for a buyer and when none was forthcoming the government stepped in to avoid a UK bank going under.

setmefree

dunstonh wrote: »

I hope your complaint fails. Nothing personal against you but if you open the door that allows people who make bad investment decisions to get their money back then you may as well kiss goodbye to the UK as a trading entity.

Oh my god pot calling the kettle black, with all the media coverage lately and the Banking Industry admitting on T.V. that along the way they have made some bad decisions, you have the balls to tell someone that you hope their complaint fails, and that no way should he/she get their money back.:mad: if this is the case then this Government shouldn't have handed out the billions that they have..Shame on you