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Bad Advice on loan


RodgerD
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Hi I woder if anyone else is in my position, some years ago 1999 to be exact I was caught in one of these Holiday Club scams. I borrowed money from the bank to pay for it, and while negotiation the loan the advisor said it was against the banks policy to give loans for timeshare or holiday clubs, but went to ask her supervisor and came back and said the bank would go ahaed with the loan

 

Anyway over the years cash flow got tight and i eceeded the overdraft on my account, and this led to having to refinance the loan(intimated to me by the bank staff as my only option), leading to the usual horrendous charges.

 

Surely if the policy at that time was not to lend, then I was given bad adviceby the bank.

 

Do i have any recompense? I do not know

 

Any suggestions

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Timebarred. Contract - 6yrs. Here, probably negligent misstatement - 3 yrs.

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  • 12 years later...

This topic was closed on 03/06/19.

If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there.

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- Consumer Action Group

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Thanks

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