Irresponsible lending and and debt!
Discussion
Hi, I started a topic a few months ago about debt which was most helpful and had a lot of recommendations for step change who have been great. One other thing is i challenged one my credit card with irresponsible lending- this has been upheld as they doubled my loan when i had a pay decrease and was gambling heavily. I has been in contact with that bank asking for help with payments but had limited help! they have refunded interest and charges which was a substantial amount but i just wondered if i can chase them for compensation or anything? Obviously most of it was my do but it put me a horrendous financial position utilising pay day loans ect. Thanks
joeg said:
Hi, I started a topic a few months ago about debt which was most helpful and had a lot of recommendations for step change who have been great. One other thing is i challenged one my credit card with irresponsible lending- this has been upheld as they doubled my loan when i had a pay decrease and was gambling heavily. I has been in contact with that bank asking for help with payments but had limited help! they have refunded interest and charges which was a substantial amount but i just wondered if i can chase them for compensation or anything? Obviously most of it was my do but it put me a horrendous financial position utilising pay day loans ect. Thanks
Taking responsibility for your addiction is your responsibility. Blaming the bank for giving you more and then wanting compensation of money for them offering you more money frankly comes across as taking the piss.joeg said:
Hi, I started a topic a few months ago about debt which was most helpful and had a lot of recommendations for step change who have been great. One other thing is i challenged one my credit card with irresponsible lending- this has been upheld as they doubled my loan when i had a pay decrease and was gambling heavily. I has been in contact with that bank asking for help with payments but had limited help! they have refunded interest and charges which was a substantial amount but i just wondered if i can chase them for compensation or anything? Obviously most of it was my do but it put me a horrendous financial position utilising pay day loans ect. Thanks
You totally sum up why this country is in a state, wasn’t my fault, I demand compensation, absolute prat!I said i had issues with gambling, i don’t deny that! i spoke to credit card company about trying manage payments and blocking gambling which couldn’t be done as not using a gambling merchant code. if they apply an automatic credit limit, if someone has an addiction it’s a little hard not to use of for said addiction
joeg said:
Hi, I started a topic a few months ago about debt which was most helpful and had a lot of recommendations for step change who have been great. One other thing is i challenged one my credit card with irresponsible lending- this has been upheld as they doubled my loan when i had a pay decrease and was gambling heavily. I has been in contact with that bank asking for help with payments but had limited help! they have refunded interest and charges which was a substantial amount but i just wondered if i can chase them for compensation or anything? Obviously most of it was my do but it put me a horrendous financial position utilising pay day loans ect. Thanks
What are you expecting compensation for? You wanted money and they lent it to you. If you choose to spend it on gambling that's on you. They didn't force it on you. If you need someone to manage your finances speak to your parents, or ask them for compensation for not intervening in the first place.
joeg said:
Hi, I started a topic a few months ago about debt which was most helpful and had a lot of recommendations for step change who have been great. One other thing is i challenged one my credit card with irresponsible lending- this has been upheld as they doubled my loan when i had a pay decrease and was gambling heavily. I has been in contact with that bank asking for help with payments but had limited help! they have refunded interest and charges which was a substantial amount but i just wondered if i can chase them for compensation or anything? Obviously most of it was my do but it put me a horrendous financial position utilising pay day loans ect. Thanks
Out of interest have you cancelled your credit card(s)? joeg said:
Surely a bank should be a little bit responsible and that’s why there is regulations in process…so i guess if a customer was vulnerable i would expect them to follow said guidance
If a 600lbs man ordered every item on the menu from a KFC because of his food addiction, would you blame KFC for the weight gain or is it down to the fat guy to get a hold of his addiction? If you can't manage your spending, you shouldn't have a credit card. I got myself into a lot of trouble when I was in my 20's, can't tell you how much better it feels having cleared all my debt and no longer have credit cards. Get some help.
Discendo Discimus said:
If a 600lbs man ordered every item on the menu from a KFC because of his food addiction, would you blame KFC for the weight gain or is it down to the fat guy to get a hold of his addiction?
If you can't manage your spending, you shouldn't have a credit card. I got myself into a lot of trouble when I was in my 20's, can't tell you how much better it feels having cleared all my debt and no longer have credit cards. Get some help.
I have, as i mentioned i have been dealing with step change. something that defiently didn’t help me was how much finance i was given If you can't manage your spending, you shouldn't have a credit card. I got myself into a lot of trouble when I was in my 20's, can't tell you how much better it feels having cleared all my debt and no longer have credit cards. Get some help.
joeg said:
Discendo Discimus said:
If a 600lbs man ordered every item on the menu from a KFC because of his food addiction, would you blame KFC for the weight gain or is it down to the fat guy to get a hold of his addiction?
If you can't manage your spending, you shouldn't have a credit card. I got myself into a lot of trouble when I was in my 20's, can't tell you how much better it feels having cleared all my debt and no longer have credit cards. Get some help.
I have, as i mentioned i have been dealing with step change. something that defiently didn’t help me was how much finance i was given If you can't manage your spending, you shouldn't have a credit card. I got myself into a lot of trouble when I was in my 20's, can't tell you how much better it feels having cleared all my debt and no longer have credit cards. Get some help.
They are in the business of lending money. If you meet the criteria for lending then thats what they will do.
It seems very irresponsible for a bank to offer unrequested increases in credit for a customer they know to have gambling issues. All the customers end up paying for bad debts so it affects all of us.
Mind you, that doesn't mean I would expect the bank to pay compensation, just that it should have better risk management processes in place for its own and its customers benefit.
Mind you, that doesn't mean I would expect the bank to pay compensation, just that it should have better risk management processes in place for its own and its customers benefit.
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