18 year gets old bank loan

DaisyClaire

I love the title of this thread!
'18 year old gets bank loan' as if its supposed to be a shock!
If you'd of said '10 year old declares bankruptcy' then it might of hit the spot!

Ok, banks have been known to be irresponcible and cases against them have been won, but honestly, I agree with the others. They obviously felt he was responcible enough to pay the loan back and he didn't even make the first payment!
RBS aren't my favourite bank in the world but I can't really see what they have done wrong and you would surley only have a moral leg to stand on if you could prove they had breached the banking code...or whatever?!? I don't think a judge will see the argument from a Mum waving her finger at RBS and asking why they gave 'an 18 year old' a loan!

Incisor

cameron_milne wrote: »

Ill let you know when I get the debt revoked and then perhaps you can stick to providing useful response rather than negative comment, how do you know the bank did nothing wrong, did they have a set of accounts from the last two years or the previous three months wage slips I think not so how did they veryfy the laon. You should listen to Martin more Banks are out to make money any way they can if we let them. I am looking for people in the same boat who can offer some guidance not busy bodies who have nothing to do but read and cooment on other peoples misfortune, no do gooders please.

Well, there are the roots of his problem. You can get him out of the consequences of his actions and you don't need help from anybody.

He needs to see that he must face the consequences and that he does need help. These are lessons better learned earlier, certainly before landing a debt of £5000.

dmg24

cameron_milne wrote: »

Just looking for a bit of support and help obviously not the right place for serious discussion.

No, you are just wanting people to tell you that you are right.

You're not.

Idiophreak

cameron_milne wrote: »

You chose to miss the point...the fact is an 18 year old borrowed £5000 without a credit record and a regular income stream from a mainstream bank there must be something wrong if that can happen in this day and age no matter what info he gave the bank surely they have a duty of due diligence.

I think, again, it's *you* chosing to miss the point...

An ADULT has walked into a bank.

He's asked for a loan.

He's been assessed, based on his financial history and things he's told the bank and been approved for a loan.

Thousands of responsible 18 year olds will do this every year (a great many more than that if you include student loans..).

The VAST MAJORITY of them will make the repayments like grown-ups and there will be no problem with it.

You cannot say that 18 year olds shouldn't be given loans just because your son is too irresponsible to repay it. His age is not in the slightest a factor as long as he's an adult.

cameron_milne

You havnt been paying attention have you ?

inmypocketnottheirs

cameron_milne wrote: »

You chose to miss the point or you cant see it cos' you are to intent on preaching and moralising the fact is an 18 year old borrowed £5000 without a credit record and a regular income stream from a mainstream bank there must be something wrong if that can happen in this day and age no matter what info he gave the bank surely they have a duty of due diligence. You dont have to reply if you are going to tell me what a naughty boy he is again in a diifferent way I already know that

With the greatest of respect, I think you are missing the point.

The banks have acted in accordance with the law. Your son is not a minor. He needs to face responsibility and face the consequences of his actions.

Molly coddling him and saying 'there there, naughty banks' will not help in any way.

I am wondering the authenticity of this thread. Long haired beings living under bridges springs to mind.....

cameron_milne

You are wrong again, give up now Ive had some useful comment from some members which I would rather focus on

DaisyClaire

Just re-read the thread title....it actually says '18 year gets old bank loan'

What old bank loan?

cameron_milne

A typical attitude of a trainspotter no doubt.

Idiophreak

Actually, I've thought of something you could look into, if you're that desperate to get him out of this - I'm not sure if you were to get him sectioned as insane or prove him to be a drug addict, mentalist, miscreant, idiot etc...basically something that proves he *isn't* an adult of sound mind (certainly the view you seem to be sticking with...)

- anyone know if the loan could be cancelled or suspended on those grounds?