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  • FIRST POST
    • Mynameisjack
    • By Mynameisjack 22nd Aug 19, 10:46 PM
    • 1Posts
    • 0Thanks
    Mynameisjack
    Loan / Gambling / irresponsible Lending (and me)
    • #1
    • 22nd Aug 19, 10:46 PM
    Loan / Gambling / irresponsible Lending (and me) 22nd Aug 19 at 10:46 PM
    * Deleted post *
    Last edited by Mynameisjack; 24-08-2019 at 3:22 AM. Reason: Got my answer
Page 1
    • boo_star
    • By boo_star 23rd Aug 19, 12:19 AM
    • 2,396 Posts
    • 1,757 Thanks
    boo_star
    • #2
    • 23rd Aug 19, 12:19 AM
    • #2
    • 23rd Aug 19, 12:19 AM
    As a responsible lender do they not have a duty to be aware of such account activity and take this into consideration when deciding on whether to give me the loan in the first place? If they did, they would have declined me for sure.
    Originally posted by Mynameisjack
    Many people gamble responsibly (some even make a career out of it.) I suspect if they refused to lend you money because you gamble you'd have complained that is was discriminatory.


    My credit rating at the time of applying would have shown many and I mean many applications for credit leading up to my application with nationwide, should this be questioned or at least recognised? I get the impression some banks do not run a full / in depth credit check when you have been banking with them but more of a surface internal check. Maybe I’m wrong?
    No. See the reasons above. They're not your keeper.

    I am left wondering if lenders, mainly banks are being too casual when processing loan applications. Does anyone share this feeling?
    Quite the opposite, mainstream lenders have become LESS casual than they were 12 years ago.

    Surely if I have a bank with them my gambling activities should activate some sort of Vulnerable Client alarms?
    Gamblers aren't, by default, vulnerable and the banks certainly aren't in charge of your finances.

    I am wondering and hoping if I have a case to complaint sighting “irresponsible lending” and fight to get the loan written off.
    Bloody hell! So you want them to not only write off the interest but to give you a free £25000 loan. My jaw is agape.

    I would expect in this time of the FCA clamping down on banks for breathing out of turn that they would be a lot hotter on this type of thing....!
    Seriously?

    Any thoughts on the above will be appreciated?
    My thought is this has to be a troll.
    • SnowTiger
    • By SnowTiger 23rd Aug 19, 1:14 AM
    • 3,846 Posts
    • 2,835 Thanks
    SnowTiger
    • #3
    • 23rd Aug 19, 1:14 AM
    • #3
    • 23rd Aug 19, 1:14 AM
    Don't ask; don't get.

    What resolution do you want? For the loan to be forgiven and a few thousand pounds compensation?

    That seems reasonable.

    My advice: send a written complaint to Nationwide explaining that you lied on your loan application; and berate them for believing you and not doing thorough enough background checks.

    https://www.nationwide.co.uk/support/contact-us/make-a-complaint#tab:Makeacomplaint

    Take your complaint to the FOS if Nationwide won't play ball.

    https://www.financial-ombudsman.org.uk/

    It seems like an open and shut case to me.
    • Bermonia
    • By Bermonia 23rd Aug 19, 7:24 AM
    • 857 Posts
    • 772 Thanks
    Bermonia
    • #4
    • 23rd Aug 19, 7:24 AM
    • #4
    • 23rd Aug 19, 7:24 AM
    Don't ask; don't get.

    What resolution do you want? For the loan to be forgiven and a few thousand pounds compensation?

    That seems reasonable.

    My advice: send a written complaint to Nationwide explaining that you lied on your loan application; and berate them for believing you and not doing thorough enough background checks.

    https://www.nationwide.co.uk/support/contact-us/make-a-complaint#tab:Makeacomplaint

    Take your complaint to the FOS if Nationwide won't play ball.

    https://www.financial-ombudsman.org.uk/

    It seems like an open and shut case to me.
    Originally posted by SnowTiger
    I assume this is sarcasm lol

    OP you committed fraud and now wants to be compensated for it... checks would’ve been proportionate for your singular loan with Nationwide, and after admitting to committing fraud expect there to be a CIFAS (fraud reporting agency) marker on your history thus impacting any future dealings.
    • Craig1981
    • By Craig1981 23rd Aug 19, 7:35 AM
    • 765 Posts
    • 401 Thanks
    Craig1981
    • #5
    • 23rd Aug 19, 7:35 AM
    • #5
    • 23rd Aug 19, 7:35 AM
    Agreed with Bermonia

    You fraudulently secured the loan with regards to your application by bettering answers and leaving out debt and expenses.
    in gambling terms, thats betting on a horse that they say is 4 years old and placed in every race, when in truth the horse is 14 years old and never finished a race. If that horse won, would the bookie be coming at you for irresponsible betting?
    • DCFC79
    • By DCFC79 23rd Aug 19, 7:36 AM
    • 34,883 Posts
    • 22,084 Thanks
    DCFC79
    • #6
    • 23rd Aug 19, 7:36 AM
    • #6
    • 23rd Aug 19, 7:36 AM
    Sorry OP but I cant see the loan being written off, you yourself have stated you lied about your outgoings on the application.

    Yes your credit history (not credit score) may show searches were made but how many of them went as far as being accepted and the loans were given ?

    No harm in trying to get anything out of NW but I fear the answer will be no.
    • Ebe Scrooge
    • By Ebe Scrooge 23rd Aug 19, 7:51 AM
    • 4,370 Posts
    • 3,907 Thanks
    Ebe Scrooge
    • #7
    • 23rd Aug 19, 7:51 AM
    • #7
    • 23rd Aug 19, 7:51 AM
    OP, where are you based - England or Scotland ?

    I only ask because in Scotland the school summer holidays have already finished, so you really should be back concentrating on your studies.
    I may not know much about art, but I know what I like.
    • mcpitman
    • By mcpitman 23rd Aug 19, 8:07 AM
    • 615 Posts
    • 458 Thanks
    mcpitman
    • #8
    • 23rd Aug 19, 8:07 AM
    • #8
    • 23rd Aug 19, 8:07 AM
    You have no case against Nationwide, particularly as your loan was approved due to fraudulent reasons and lying about incoming/outgoings.


    Suck it up and pay off your debt that you accumulated, through decisions you made in your life.


    I have every sympathy for your addictions and demons in life, but none of these are Nationwide's fault.
    Life isn't about the number of breaths we take, but the moments that take our breath away. Like choking....
    • AndyPix
    • By AndyPix 23rd Aug 19, 8:10 AM
    • 4,422 Posts
    • 3,975 Thanks
    AndyPix
    • #9
    • 23rd Aug 19, 8:10 AM
    • #9
    • 23rd Aug 19, 8:10 AM
    he's not coming back
    Running with scissors since 1978
    • Paul_DNAP
    • By Paul_DNAP 23rd Aug 19, 9:50 AM
    • 651 Posts
    • 807 Thanks
    Paul_DNAP
    I'm afraid I have to agree with the above, and you're in an impossible situation - if you go down the route of trying to say they ought not to have loaned to you, then you will have to admit to the lies you told on your application, which could have much more serious consequences than you are in now as you're admitting what could be seen as an act of criminal fraud.

    So whilst they do indeed have a duty to be a responsible lender, you also have duty to be a responsible borrower and - possibly due to the situation you were in - I feel it is you who failed at your duty, and not them at theirs.
    (Although I could be wrong, I often am.)
    • Tallaght
    • By Tallaght 23rd Aug 19, 11:14 AM
    • 1,154 Posts
    • 944 Thanks
    Tallaght
    Contact all the online gambling sites you may have used and ask for 'self-exclusion' for life.
    • Tallaght
    • By Tallaght 23rd Aug 19, 11:22 AM
    • 1,154 Posts
    • 944 Thanks
    Tallaght
    I forgot to say i know people who have been turned down for loans and mortgages due to a lot of online gambling transactions on their bank statements.Apparently this is now happening to a lot of people.
    • Silvertabby
    • By Silvertabby 23rd Aug 19, 12:18 PM
    • 4,541 Posts
    • 7,188 Thanks
    Silvertabby
    OP, if losing this £25K was your epithany, which led to your cure, then perhaps you should be thanking Nationwide instead of castigating them?

    If you'd carried on gambling, your life time losses may have been much greater,
    • parking_question_chap
    • By parking_question_chap 23rd Aug 19, 1:13 PM
    • 2,357 Posts
    • 2,619 Thanks
    parking_question_chap
    In my infinite wisdom i applied for the loan noting “home improvements” as the reason

    My thoughts now turn to whether I should have been given the loan in the first place.
    Originally posted by Mynameisjack
    My thoughts turn to whether you were honest on your application.

    Personal responsibility? No?

    Self exclusion is very easily online. And not that difficult offline. Just log in to all your account and self exclude for as long as possible.
    Last edited by parking_question_chap; 23-08-2019 at 1:15 PM.
    • Tallaght
    • By Tallaght 23rd Aug 19, 1:36 PM
    • 1,154 Posts
    • 944 Thanks
    Tallaght
    OP was it gambling online with bookie websites or gambling in bookie shops on things like the FOBT machines ?
    • stevenhp1987
    • By stevenhp1987 23rd Aug 19, 2:16 PM
    • 878 Posts
    • 695 Thanks
    stevenhp1987
    My thoughts turn to whether you were honest on your application.

    Personal responsibility? No?

    Self exclusion is very easily online. And not that difficult offline. Just log in to all your account and self exclude for as long as possible.
    Originally posted by parking_question_chap
    Don't even need to do that.

    Just register with https://www.gamstop.co.uk

    It's the national self-exclusion service that will prevent you from registering with any UK registered online casino/bookmaker. It will also exclude you from your current accounts.

    This is step one to be done before changing any finances!

    In terms of the loan, you committed fraud when you lied for your reasons for getting the loan. You cannot hold them responsible for giving you it when you committed fraud to get it. Be happy they, from the sounds of things, have not slapped you with a CIFAS (fraud) marker.
    • DCFC79
    • By DCFC79 23rd Aug 19, 6:45 PM
    • 34,883 Posts
    • 22,084 Thanks
    DCFC79
    If it were me Id be doing all I could get the loan paid off, whether it meant doing overtime, a second job or just living frugally for a while so you can make overpayments.
    • username901
    • By username901 23rd Aug 19, 8:21 PM
    • 58 Posts
    • 39 Thanks
    username901
    That sounds too honourable, I thought usual advice on this site was sue the evil tory bankers for compo, claim mental health issues or depression etc, and when that fails then go bankrupt and start again. Get another loan in a few years and try your luck again. Wished I went bankrupt all those years ago instead of paying my uni debt back, would have been a hell of a lot cheaper and easier.
    • Bermonia
    • By Bermonia 23rd Aug 19, 10:47 PM
    • 857 Posts
    • 772 Thanks
    Bermonia
    Hi all

    Just had a chance to catch up on all of your replies (I’ve been doing some overtime whilst working my 2nd job @ DCFC79). Anyway, thanks to those of you who gave me some genuine (viable) feedback / advice I will of course take it all on board. Thanks to those who offered concern and advice for my Gambling addiction, I did seek advice after hitting rock bottom some time ago and I am pleased to say I am in much better please since doing so. There is a lot of help out there but the hardest part is reaching out.

    Interesting to read that so many of you have an opinion on the situation, especially when this is an “advice” based forum not “point your moral compass and shoot” based forum. Although interesting to read I will be disregarding.

    Best wishes and who knows we may meet again on another post!

    P.s @ Boo_star I do hope your Jaw is no longer agape, as I’m sure it will be aching (or maybe not). Stay happy.

    Best,

    Jack
    Originally posted by Mynameisjack
    WOW typical tantrum after not being told what they want to hear... sorry of course you have been wronged by the bank, how dare they believe the fraudulent answers YOU gave in your application.

    Rather than blame others for your misfortunes, perhaps it’s time to start owning your mistakes... personal growth is a wonderous thing!
    • boo_star
    • By boo_star 24th Aug 19, 1:19 AM
    • 2,396 Posts
    • 1,757 Thanks
    boo_star
    WOW typical tantrum after not being told what they want to hear... sorry of course you have been wronged by the bank, how dare they believe the fraudulent answers YOU gave in your application.

    Rather than blame others for your misfortunes, perhaps it’s time to start owning your mistakes... personal growth is a wonderous thing!
    Originally posted by Bermonia
    Where there's blame there's a claim. Hopefully it's Nationwide blaming the OP for their fraudulent application and going to the Police.
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