Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
HI,
Wonder if I could just ask your thought's on a neighbour's situation. The person is female, a single parent and unemployed. Some two year's ago she was just about to move to a new house(rented) had just had an interview for a job and her life seemed about to take a much needed upward swing.
Feeling bold, brave and full of hope she asked her bank for a loan, £5000. Amazingly they granted it,dont have to be Mystic Meg to guess the rest do you? She never got that job so struggles to pay back the loan, when she does it's by topping up her Child Benefit payment's that get paid directly into her account. My question is do bank's normally grant customer's loans without checking their income,wage slip's etc. Seem's strange to me.
Never had a loan myself so dont have a clue about standard procedure etc.
Sometimes a bank will ask for proof, sometimes they will trust the customer - it depends on their relationship with that customer. But they will have asked her about affordability. Is it possible she didn't answer truthfully?
That was my original point but how does that work out. Are no check's or securities sought, seem's crazy to me. Is it any wonder people end up in terrible debt. The lady I am talking of is a single parent with no partner, so they cant even take that wage/income into account. As I say, crazy and reckless.
My sister is also a single parent on income support, but because she kept her bank account in order , every time she was called in to review her account they wanted to throw money at her, why? I don't know because she would never be able to make repayments. Thankfully she said NO!
It seems that good account management is all that is needed for the bank to entice you into owing them more via credit, even if you don't want it!
When I worked for HSBC, in order to supply a loan to anybody, we needed to do an affordability chart and present it to the manager. If the customer said she was getting a job with better pay, the bank should have suspended the application once it was accepted and waited for her to turn up with a contract of employment.
I suppose it depends on which bank you go to, there are a lot of people out there just trying to hit targets and earn bonuses not giving a damn about people.
Advice From Bank Staff. Please.
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