Re: Irresponsible lending by credit companies
- From: "Peter Crosland" <g6jns@xxxxxxxxxxx>
- Date: Sat, 31 Dec 2005 21:54:40 -0000
> Can a loan provider be pursuaded to make a loan null and void if it is
> pointed out to them that no financial checks (ability to pay) were carried
> out on the person taking the loan?
Highly unlikely.
> My p60 will show (and did last year) that I earnt £6500. As well as
> mortgage commitments etc can it be shown that lending me £10,000 over 5
> years is irresponsible lending?
Irresponsible borrowing might be more accurate. Whilst the lenders should
take more care ultimately people need to take responsibility for their own
actions. Go and see the CAB and get them to try to renegotiate the
repayments.
Peter Crosland
.
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