Loan / Gambling / irresponsible Lending (and me)

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  • Tallaght
    Tallaght Posts: 1,632 Forumite
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    It seems the OP deleted his original post due to people saying Nationwide are not responsible for his actions especially fraudulent details on the loan application process.
  • TripleH
    TripleH Posts: 3,018 Forumite
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    I have sympathy for people with addictions, including the op. if the situation is real. But getting loans written off as irresponsible lending is wrong when you lie on the application. If the loan is written off, sadly I suspect the op. would then use the freed credit to take out further loans for gambling.
    May you find your sister soon Helli.
    Sleep well.
  • xlnc99
    xlnc99 Posts: 1,673 Forumite
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    So many negative comments on here. Show some sympathy.

    I would tell the OP to try and make a complaint. He is within his legal right to do so and has explained his circumstances which does lie partly with the lender for not doing their checks. Especially the gambling transactions on his own bank account.

    As for the fraud, its all nonsense. Its the lenders duty to check and make sure the details are correct and verified. You could have easily made a few mistakes on the application form, it happens all the time.

    I was reading the FOS case studies in regards to inaccurate information on application forms and how lenders try and scare you by saying you committed fraud etc. The bottom line, FOS has dismissed such cases and more blame will lie on the lender for not verifying and checking the information on the forms so it actually will look really bad on them and they could have severe penalties.

    Go for it OP!
  • boo_star
    boo_star Posts: 3,202 Forumite
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    xlnc99 wrote: »
    So many negative comments on here. Show some sympathy.

    I would tell the OP to try and make a complaint. He is within his legal right to do so and has explained his circumstances which does lie partly with the lender for not doing their checks. Especially the gambling transactions on his own bank account.

    As for the fraud, its all nonsense. Its the lenders duty to check and make sure the details are correct and verified. You could have easily made a few mistakes on the application form, it happens all the time.

    I was reading the FOS case studies in regards to inaccurate information on application forms and how lenders try and scare you by saying you committed fraud etc. The bottom line, FOS has dismissed such cases and more blame will lie on the lender for not verifying and checking the information on the forms so it actually will look really bad on them and they could have severe penalties.

    Go for it OP!

    This is such absolute tripe I don't know what to say.

    I suppose it's my fault if I leave the front door unlocked and I get robbed too?

    It's NEVER the fault of the victim of a crime. EVER.

    The OP committed fraud. Obtaining pecuniary advantage (money) by deception (lying on the application forms.)

    And you have the cheek to call my and other's advice "incorrect"!
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    xlnc99 wrote: »
    ...I was reading the FOS case studies in regards to inaccurate information on application forms and how lenders try and scare you by saying you committed fraud etc. The bottom line, FOS has dismissed such cases and more blame will lie on the lender for not verifying and checking the information on the forms so it actually will look really bad on them and they could have severe penalties...
    If you are directly referring to FOS case studies, then please provide the applicable links so that we can verify what you are saying....
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • AndySandy_2
    AndySandy_2 Posts: 10 Forumite
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    Blame could be given to both parties.

    Sure certainly unethical to lie and mislead the lender.

    How many lenders bother to do any checks these days though?

    An acquaintance i know is a typical example of this, he had been unemployed for about one year, he decided to move abroad and apply for a ton of loans and credit, lying in the forms, got accepted for almost 100k in credit, made a few payments to all and then told them he lost his job and disappeared....

    Absolutely what he did is the reason we all suffer huge APR’s etc, but just goes to show the financial institution only cares about profits and not so much risk...
  • xlnc99
    xlnc99 Posts: 1,673 Forumite
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    boo_star wrote: »
    This is such absolute tripe I don't know what to say.

    I suppose it's my fault if I leave the front door unlocked and I get robbed too?

    It's NEVER the fault of the victim of a crime. EVER.

    The OP committed fraud. Obtaining pecuniary advantage (money) by deception (lying on the application forms.)

    And you have the cheek to call my and other's advice "incorrect"!

    The example of the front door being left unlocked to this just doesnt make any sense. Apples and Oranges. AS i said before it could be the OP make a mistake on two on the application form rather then lying. It happens all the time, when people are in a panic, stressed out and have to finish an online form in a timely manner. This is not uncommon

    It is the LENDERS duty to check the form to verify the details as MISTAKES can happen. What is so hard to understand about that?
  • xlnc99
    xlnc99 Posts: 1,673 Forumite
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    Willing2Learn wrote: »
    If you are directly referring to FOS case studies, then please provide the applicable links so that we can verify what you are saying....

    https://debtcamel.co.uk/payday-lender-says-lied/ - Great article also has a few FOS cases in there
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    edited 27 August 2019 at 12:02PM
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    When I clicked on the embedded links to the two FOS decisions I checked. It appears that the complaints were only partially upheld.

    See here and here


    I think that you are over generalising the FOS decision making processes and that it is not as clear-cut as you claim. It seems as though the first few loans to each borrower were in fact procedurally correct. It is only the subsequent repeated loans where the lenders should have been more diligent in their checks. DebtCamel even said in conclusion that "As a generalisation, if the income or expenditure details on your loan application weren’t right, the payday lender can’t be blamed for giving you the first couple of loans"

    Edit: And how come I was taken to a site that was discussing PDL irresponsible lending when the OP borrowed from Nationwide?
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • Bermonia
    Bermonia Posts: 977 Forumite
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    I would agree that you have over simplified the FOS decisions you have read.

    Regardless of FOS being potentially unable to distinguish fraud, the fact remains that the OP committed an act of fraud, at the very least this would be reported to CIFAS where a fraud marker would be registered thus negating any future attempts to obtain pretty much anything on credit.
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