Were payday loans responsible for checking my income?
Alfredos_Pizza_Cafe
Posts: 17 Forumite
in Loans
I'm in the process of claiming compensation for the payday loans i took out between 2010-2013.
Were the payday loans negligent for not checking my income/employment before offering credit? Do they have a duty of care or anything to check I earned what I said I earned?
Would that be a clear cut case for affordability?
Is rolling over the loans whilst i have loans from other companies at the same time also an example of their negligence?
Thanks
Were the payday loans negligent for not checking my income/employment before offering credit? Do they have a duty of care or anything to check I earned what I said I earned?
Would that be a clear cut case for affordability?
Is rolling over the loans whilst i have loans from other companies at the same time also an example of their negligence?
Thanks
0
Comments
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No
Did you fib about your income?0 -
No. I'm just trying to make a strong case for the maximum refund and I don't have the payslips because it was 2010-2013.0
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If you think you made a fraudulent application, stay away from those details.0
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They would have given you loans based on what you told them you earned. There is no requirement for them to see proof, hell I've had £10k loans from banks without having to prove my income.
Therefore as said, if you lied on the application in order to make sure you got the loan then you want to be very careful how you tread as you could find that in retaliation they report you to the police for committing fraud. You can also get done for making a fraudulent claim for compensation saying you told them the true amount you earned and it transpires you hadn't so you need to be absolutely 100% sure you were squeaky clean.
No judgment for lying about your income on the form if you did because in times of desperation most people do silly things but for the sake of preventing further complications you need to be certain whether you did or not.0 -
Even mainstream lenders will rarely ask for evidence of income. Stating you have £x amount of income when it's actually less is called fraud.0
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I appreciate that some people may regret having taken out pay day loans, but to expect such lenders to have a duty of care the answer is no, you have a duty to borrow responsibly.0
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Deleted_User wrote: »If you think you made a fraudulent application, stay away from those details.
I don't have the payslips or any other evidence to prove my income as my bank statements don't go that far back. I also can't remember what figures I wrote down on the application so I think I'll take your advice and stay away. I'd considered this money lost nearly a decade ago. Quick Quid loans were only a fraction of the Wonga loans I had taken out but they've gone bust and Martin's article says I would only get pennies in the pound if I'm lucky.
Thanks for the advice everyone. Case closed. Moving on.0
This discussion has been closed.
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