Offer of refund from 247MoneyBox
Options
Comments
-
Fair enough! You make some valid points about the police side of things, however I do wonder whether specific cases could be "pushed through" with some elbow grease.
However, the ultimate arena, so to speak, for battles between Lenders V Borrowers is the Financial Ombudsman Service.
Presumably they are impartial and would listen to instances where consumers have committed fraud? That would similarly squash many "irresponsible lending" complaints by setting a defence framework and a precedent if fraud can be established.
But the borrower isn't going to admit they committed fraud (I'll eat my hat of the OP did that) so it's all academic.
Perhaps if they were honest we could see some FOS decisions based on that but I wouldn't hold my breath.
I'm curious why we seem to have devolved to what is "victim blaming" here. Is it because payday loan companies are, frankly, "a bit scummy?"
That's really no reason for holding them responsible, especially as prime lenders don't ask for chapter and verse of a person's financial history and are not held to the same standards by certain people on this forum.0 -
That's really no reason for holding them responsible, especially as prime lenders don't ask for chapter and verse of a person's financial history and are not held to the same standards by certain people on this forum.
You make a good point Boo. I think my tangental discussion about the state of policing was to explain why PDLs (in addition to all the valid points already made on the subject) do not report fraud and hence does not play a part in the reclaim process.
I think your view that PDLs are easy to blame/beat means they get it in the neck. They are regulated far more heavily than any other simple product consumer finance businesses in the UK and will continue to be regulated out of business because of some bad practice and the personal political aspirations of people like Stella Creasy.
The final part of the puzzle is probably the complexity of the product. People can understand (or more accurately think they can understand) it... unlike news items about a bunch of city boys fixing LIBOR which no one understands and in actual fact does infinitely more damage than the entire PDL industry has ever done... so just no new worthy.The views expressed here are my own. I am not a Solicitor nor am I affiliated with any of the parties I mention. If you disagree with any of my comments please say in whatever way feels most natural to you. No one self improves in a bubble!0 -
Hey Lez,
I did quite a detailed reply to your well structured response to me above... but MSE appear to have lost it. Nothing contentious - mostly agreeing with your points bar a bit at the end relating to the incompetence of the regulators so not sure why they have binned it and not mentioned it to me/the thread - they usually tell you when they have deleted something. From a few other discussions, I wonder if they have tech issues, possibly... anyway, didn't want to leave you hanging or think that I have somehow let you off the proverbial hook
If I have time I might try again but probably unlikely.The views expressed here are my own. I am not a Solicitor nor am I affiliated with any of the parties I mention. If you disagree with any of my comments please say in whatever way feels most natural to you. No one self improves in a bubble!0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards