one for money people
12-02-2011, 03:48 PM
#1
Too many posts.. I need a life!!
Thread Starter
Join Date: Dec 2006
Location: barry ,swales
Posts: 974
Likes: 0
Received 0 Likes
on
0 Posts
one for money people
paid money into bank, lady in bank said do u wanna see a guy about ur account, so i say go on then, short story, i,v got a nice tidy bit of save'ing ,he say's to me u have a good history and credit,do u wont any money so i say yer go on then give us 10k anyway next thing, bang 10k into my acount so i,m thinking fuk that was easy, this is where the problem starts ,i pay 2k of my card to clear that i let build up bit, i like to keep the save'ings untouched , that 's sorted leave's me 8k so i,m thinking wot am i gonna do with this, anyway i go home my miss's looks at the agrement i signed, it's with lloyds bank it was 22.5% and the apr was sumthing stupid, on 10k over 5years they wont 17k paid back she a morgage adviser said why the fuk did i take the money "answer is i dont know"wot
do u think would be the best thing to do now should i complain to the bank about the % feels like i been screwed over
do u think would be the best thing to do now should i complain to the bank about the % feels like i been screwed over
12-02-2011, 03:59 PM
#2
Advanced PassionFord User
Take the money back out of the card and pay it back in cooling of period or suck it up for been daft enough to sign in the heat of the moment or squander it pay £90 for a dro and be bankrupt for 12 months lol
12-02-2011, 04:01 PM
#4
PassionFord Post Whore!!
iTrader: (4)
Join Date: May 2003
Location: Sutton, Surrey.
Posts: 4,058
Likes: 0
Received 0 Likes
on
0 Posts
If you signed the paperwork then nothing you can do mate. It clearly states the repayments, the apr and your monthly payments. You should of asked questions or read the paperwork before hand.
You may have a cooling off period where you pay back the £10k within 7-14 days and they cancel the agreement, but sounds like you have already spent some?
You may have a cooling off period where you pay back the £10k within 7-14 days and they cancel the agreement, but sounds like you have already spent some?
12-02-2011, 04:05 PM
#6
Can you cash a cheque?
Without knowing the ins & outs of this arrangement, it would at first appear you may have been mis-sold this loan.
I believe you also may have a cooling off period, but that would be dependent on how long ago you took out the loan.
I would suggest a letter of complaint to the bank in question, outlining your concern that you may have been placed under duress at the hands of pressure selling techniques, which I believe are deeply frowned upon in financial circles.
Of course, any further complaint could be referred onto the Banking Ombudsmen, but I believe you must follow your own banks procedures in the first instance.
I believe you also may have a cooling off period, but that would be dependent on how long ago you took out the loan.
I would suggest a letter of complaint to the bank in question, outlining your concern that you may have been placed under duress at the hands of pressure selling techniques, which I believe are deeply frowned upon in financial circles.
Of course, any further complaint could be referred onto the Banking Ombudsmen, but I believe you must follow your own banks procedures in the first instance.
Trending Topics
12-02-2011, 04:09 PM
#8
ELASTIC BAND
Not sure what your fully on about, ( your text typing is poor )
But am I right in, you went to the bank, didn't need a loan, but took out a 10K one for no reason?
If so ???????????????????????????????????????? they see you coming with the 22.5%
But am I right in, you went to the bank, didn't need a loan, but took out a 10K one for no reason?
If so ???????????????????????????????????????? they see you coming with the 22.5%
Last edited by Fil; 12-02-2011 at 04:10 PM.
12-02-2011, 04:16 PM
#11
Advanced PassionFord User
12-02-2011, 04:20 PM
#13
Too many posts.. I need a life!!
Thread Starter
Join Date: Dec 2006
Location: barry ,swales
Posts: 974
Likes: 0
Received 0 Likes
on
0 Posts
i agree i did'ent go in for a loan just happened i,m not at all clued up on apr % and all that my miss's sorts all that out wot i see is balance £££££ thats all.. and yes i just took the money must be from growing up poor, get wot u can and run lol ..and yes i did'ent need it, i was a bit stupid a spur of the moment thing and it was this morning, the thing is i,v now decided i wont 2 keep the money, but wont a lower % could i complain nd get it down or should i just give the fuking lot back
Last edited by rsturbo27; 12-02-2011 at 04:22 PM.
. 
12-02-2011, 04:23 PM
#16
Advanced PassionFord User
iTrader: (1)
Join Date: Sep 2010
Location: milton keynes
Posts: 1,775
Likes: 0
Received 0 Likes
on
0 Posts
i agree with u i,m not at all clued up on apr % and all that my miss's sorts all that out wot i see is balance £££££ thats all.. and yes i just took the money must be from growing up poor, get wot u can and run lol ..and yes i did'ent need it, i was a bit stupid a spur of the moment thing and it was this morning, the thing is i,v now decided i wont 2 keep the money, but wont a lower % could i complain nd get it down or should i just give the fuking lot back
12-02-2011, 04:31 PM
#20
Advanced PassionFord User
i'd be too embarrased too complain pay it back in cooling of period or pay 17k back over 5 years is your only option imo you signed it no one forced you too
12-02-2011, 06:03 PM
#25
I've found that life I needed.. It's HERE!!
iTrader: (2)
Join Date: Sep 2009
Location: essex
Posts: 1,234
Likes: 0
Received 0 Likes
on
0 Posts
hmm,
so you didn't need the money,
you had savings in the bank,
you was asked if you wanted a loan to which you obviously replied yes.
Did you think it was free money and that you didn't need to pay anything back?
so you didn't need the money,
you had savings in the bank,
you was asked if you wanted a loan to which you obviously replied yes.
Did you think it was free money and that you didn't need to pay anything back?
12-02-2011, 06:14 PM
#27
15K+ Super Poster!!
Jesus christ, now I thought loans of 9% were bad which is the highest loan amount I will do, but 22% 
Thats fucking diabolical.
Pay that right back, right now. Use your 14 day cooling off period.
Did you get given the agreement to read before you signed for it?
Did the adviser give you an opportunity to ask any questions and did they answer them?
Did they ask you are you happy with everything they have explained before you signed the agreement?
If yes to all three, you ain't got a leg to stand on.
But why your borrowing money without fully understanding how much your going to pay I don't know.
Thats fucking diabolical.Pay that right back, right now. Use your 14 day cooling off period.
Did you get given the agreement to read before you signed for it?
Did the adviser give you an opportunity to ask any questions and did they answer them?
Did they ask you are you happy with everything they have explained before you signed the agreement?
If yes to all three, you ain't got a leg to stand on.
But why your borrowing money without fully understanding how much your going to pay I don't know.
12-02-2011, 06:24 PM
#28
15K+ Super Poster!!
i) You can't take 2k out in cash on a credit card to repay a bank loan (or pay into a bank account of any description) and even if you could take the cash back out again then your probably gonna be ending up paying more than 24% on the withdrawal!!
ii) If he goes bankrupt EVERYTHING he owns of any value, including his saving, home, car, bank accounts, will be frozen and seized. Add on top of that 90% of all banks in country will refuse to open any accounts for him for at least a year and not to mention a permanently fucked credit rating. If he thought 22% for a loan was bad, if you have been bankrupt 22% would probably end up being the lowest rate you could ever get ever again.
12-02-2011, 06:28 PM
#29
15K+ Super Poster!!
i agree i did'ent go in for a loan just happened i,m not at all clued up on apr % and all that my miss's sorts all that out wot i see is balance £££££ thats all.. and yes i just took the money must be from growing up poor, get wot u can and run lol ..and yes i did'ent need it, i was a bit stupid a spur of the moment thing and it was this morning, the thing is i,v now decided i wont 2 keep the money, but wont a lower % could i complain nd get it down or should i just give the fuking lot back
Pay it all back.
13-02-2011, 12:04 AM
#31
15K+ Super Poster!!
Interesting scam, surprised paypal aint twigged onto this one as thats almost tantamount to credit card fraud
Still thats like paying £1 to get at £30, and then you also have to pay the credit card off in the interest free period. But will end up paying less than the loan depending on the card probably.
Still thats like paying £1 to get at £30, and then you also have to pay the credit card off in the interest free period. But will end up paying less than the loan depending on the card probably.
Last edited by Eagle; 13-02-2011 at 02:18 PM. Reason: as requested
13-02-2011, 12:42 AM
#33
Its not technically fraud though is it??
its just getting round the banks greedy charges.
at worst your in breach of the agreements.
credit rating isnt fucked permenantly.
Although judging by the guys use of textspeak and clear lack of understanding of very basic maths, then your right, he deserves his credit rating permenantly fucked if not only to protect the banks and protect himself from his own stupidity.
APR is taught before GCSE options. Youd have to have missed a lot of school or be really thick to not understand such a basic maths concept.
its just simple multiplication after all.
its just getting round the banks greedy charges.
at worst your in breach of the agreements.
credit rating isnt fucked permenantly.
Although judging by the guys use of textspeak and clear lack of understanding of very basic maths, then your right, he deserves his credit rating permenantly fucked if not only to protect the banks and protect himself from his own stupidity.
APR is taught before GCSE options. Youd have to have missed a lot of school or be really thick to not understand such a basic maths concept.
its just simple multiplication after all.
13-02-2011, 09:46 AM
#40
15K+ Super Poster!!
Ok, probably need a bit more expanding on it, your credit rating will be ruined for at least 6 years. You then also need to spend the next few years rebuilding your credit rating back up to what it was, and believe me, that takes a while.
Then take into the fact that (for example when I open new accounts) you are asked by most banks have you ever been bankrupt ect. If the answer is yes, then it will eliminate you from being able to obtain the preferential services.
Then take into the fact that (for example when I open new accounts) you are asked by most banks have you ever been bankrupt ect. If the answer is yes, then it will eliminate you from being able to obtain the preferential services.