Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • 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 2
    • keepcalmandstayoutofdebt
    • By keepcalmandstayoutofdebt 24th Aug 19, 11:24 AM
    • 3,772 Posts
    • 1,980 Thanks
    keepcalmandstayoutofdebt
    I'm sure it won't be long until all lenders go to a guarantor model!

    After 6 loans during 2014 - 2017 with the same lender, I did wonder on the fairly recent decline on an honest application, if I should join the compo queue with a well you declined me - until I learnt who they consider their competitors and then it made sense.

    Unfortunately I've bigger and better problems, 700 odd in charges on a debt that was orginally 1000 and that's with paying towards it ~ no one seems to mind that, there's no help unless I had a payday loan reclaim.

    Perhaps apply for a job with NW and see life on their recently upped starting salary (it use to be less) of 17k.

    Recently working in a non-air conditioned hotel with no lift just steep stairs and oh we love to hand out parking charges notices too; there was a guest who had had a stroke who was just so positive in life and climbing the hotel stairs compared to the younger ones who complain even when you tell them on booking, we've no lift.
    Not leaving my 'childhood' Home without a fight
    • Tallaght
    • By Tallaght 24th Aug 19, 11:29 AM
    • 1,154 Posts
    • 944 Thanks
    Tallaght
    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
    • By TripleH 26th Aug 19, 8:35 PM
    • 258 Posts
    • 178 Thanks
    TripleH
    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.
    Wherever you go, whatever you do Richard Marx is right there waiting for you.

    Sweet dreams!
    • xlnc99
    • By xlnc99 26th Aug 19, 11:07 PM
    • 410 Posts
    • 45 Thanks
    xlnc99
    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
    • By boo_star 27th Aug 19, 12:26 AM
    • 2,422 Posts
    • 1,772 Thanks
    boo_star
    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!
    Originally posted by xlnc99
    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
    • By Willing2Learn 27th Aug 19, 12:57 AM
    • 4,102 Posts
    • 3,658 Thanks
    Willing2Learn
    ...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...
    Originally posted by xlnc99
    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

    • AndySandy
    • By AndySandy 27th Aug 19, 7:46 AM
    • 10 Posts
    • 3 Thanks
    AndySandy
    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
    • By xlnc99 27th Aug 19, 10:17 AM
    • 410 Posts
    • 45 Thanks
    xlnc99
    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"!
    Originally posted by boo_star
    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
    • By xlnc99 27th Aug 19, 10:18 AM
    • 410 Posts
    • 45 Thanks
    xlnc99
    If you are directly referring to FOS case studies, then please provide the applicable links so that we can verify what you are saying....
    Originally posted by Willing2Learn
    https://debtcamel.co.uk/payday-lender-says-lied/ - Great article also has a few FOS cases in there
    • Willing2Learn
    • By Willing2Learn 27th Aug 19, 10:40 AM
    • 4,102 Posts
    • 3,658 Thanks
    Willing2Learn
    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?
    Last edited by Willing2Learn; 27-08-2019 at 11:02 AM.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Bermonia
    • By Bermonia 27th Aug 19, 11:08 AM
    • 857 Posts
    • 772 Thanks
    Bermonia
    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.
    • xlnc99
    • By xlnc99 27th Aug 19, 11:13 AM
    • 410 Posts
    • 45 Thanks
    xlnc99
    IT could be FRAUD if he openly admits that he has lied or it could be that he made mistakes on an application form. Happens all the time
    • soolin
    • By soolin 27th Aug 19, 11:42 AM
    • 62,580 Posts
    • 45,004 Thanks
    soolin
    IT could be FRAUD if he openly admits that he has lied or it could be that he made mistakes on an application form. Happens all the time
    Originally posted by xlnc99
    Unfortunately the OP has deleted their Original post, but in that he did openly admit to making fraudulent claims on his applications. Claims that , if followed up, are likely to be obvious to anyone that investigates were more than accidental.

    OP was also honest enough to admit that at the time he made the applications he knew his statements to be false, but carried on regardless as he was desperate to obtain the money.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I volunteer to help get your forum questions answered and keep the forum running smoothly. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
    New to Forum? Guide
    • xlnc99
    • By xlnc99 27th Aug 19, 12:02 PM
    • 410 Posts
    • 45 Thanks
    xlnc99
    I see, i did not see the original post when i saw this thread as the information was not there. That is a bit silly of him to admit it on an openly public forum. Whether it holds any weight in the future thought i am not sure as its an open forum and unlikely to be used against him for a number of reasons.
    • adindas
    • By adindas 27th Aug 19, 12:03 PM
    • 4,129 Posts
    • 2,624 Thanks
    adindas
    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.
    Originally posted by xlnc99
    Unfortunately the OP has deleted their Original post, but in that he did openly admit to making fraudulent claims on his applications. Claims that , if followed up, are likely to be obvious to anyone that investigates were more than accidental.

    OP was also honest enough to admit that at the time he made the applications he knew his statements to be false, but carried on regardless as he was desperate to obtain the money.
    Originally posted by soolin
    I wonder when come to making fraudulent application many people claim to have made mistakes. Are people applying for credit here overwhelmingly have dementia or the like ??
    You are more likely to make mistake in writing the number of zero on the cheques rather than making mistakes in response to the query the purpose of the loan "gambling" vs "home improvement" especially if you are a gambler.

    But surprisingly when come to writing a cheque there are not a lot of stories people making that mistakes. It is very interesting that illness has suddenly disappeared when come to writing a cheque or put money on gambling (the op case). lol ...

    This might be a breakthrough for the cure of dementia, make a fraudulent application and then do gambling your dementia will suddenly disappear.
    Last edited by adindas; 27-08-2019 at 1:44 PM.
    • Niv
    • By Niv 27th Aug 19, 12:11 PM
    • 1,795 Posts
    • 1,604 Thanks
    Niv
    You mean this 'deleted' post?


    https://webcache.googleusercontent.com/search?q=cache:xB6lFVVNkl4J:https://forums.moneysavingexpert.com/showthread.php%3Ft%3D6039969+&cd=8&hl=en&ct=clnk&g l=uk
    YNWA

    Target: Mortgage free by 58.
    • boo_star
    • By boo_star 27th Aug 19, 4:43 PM
    • 2,422 Posts
    • 1,772 Thanks
    boo_star
    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?
    Originally posted by xlnc99
    But it's not their duty, if it was they'd be doing it and everyone would have to jump through the same sort of hoops they need to with a mortgage application.

    They're not required (and nor is it likely to be feasible) to scrutinise loan applications to the extent that you seem to believe they should be.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

789Posts Today

7,022Users online

Martin's Twitter