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I have a friend whos wife applied for a credit card from LLoydsTSB. She wrote on her application form that she was a housewife and her income was £0.00 (zero). Low and behold a few weeks later she received a credit card with a £3000 credit limit. She has been using it, and her husband has been making payments on the card for around a year. She has a balance of around £1000 outstanding.

 

The husband and wife, now believe that they should not pay of the remaining amount, as LloydsTSB should not have given her a credit card, when her income was zero.

 

I dont believe she wrote her income as zero. However I have asked then to send a SAR letter asking for the last six years statements and a copy of the original agreement. This they have done.

 

If the application form arrives, and her income is zero, do they have to pay the outstanding balance? If not, what legal rulings/acts can they use to get out of paying the money?

 

The husband has mentioned something about the lender has to lend money responsibly, and cant just give credit to people who can not afford to pay it back. This does sound familiar as I think I have heard this before.

 

 

Thanks for any help.

IF Current A/C won

MBNA A/C 1 Settled in full

MBNA A/C 2 S.A.R - (Subject Access Request) Settled in full

Lloyds TSB CC - S.A.R - (Subject Access Request) sent

Citicard S.A.R - (Subject Access Request) sent

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Without meaning to sound too blunt - they have borrowed the money and in my opinion should repay it. Unless there are illegal charges levied of course. From what you are saying they have applied for the credit and used it and now want to stop paying and blame the bank?

 

If it's the case that they can't keep up the minimum payments due to hardship then fair enough - they could look at offering a reduced payment based on what they can afford after essentials are covered.

 

At the end of the day creditors take a calculated risk when they lend to someone - it's their choice. This is why they will do credit ref checks etc. They decided to offer your friend credit - she certainly didn't have to apply for it in the first place or use it.

 

This forum is not here to encourage or condone debt avoidance

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yes they do have to lend responsibly.

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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Did the application have any information about her partners income?

 

Have they evidence they are suffering from financial hardship?

 

I guess she could go down the complaints route via The FOS.

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Powelll took the words out of my mouth - you don't mention any financial problems, so why should they want to 'get out of paying the money'?

 

This site is not about debt avoidance.

 

:confused:

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Barclays (2 accounts) WON

Lloyds TSB (Daughter's) WON

 

Cohen's: WON (discontinued)

DLC: Given up, gone away.

Eversheds: Trying!

Equidebt: In default

Intrum J: Return to OC

iQor: Stopped paying.

Link: In default.

ScotCall: Return to OC

Thames: Stopped paying.

 

 

I am NOT a legal or financial expert. There are many CAG members and staff who are better qualified. Please do not make major decisions based on my advice alone.

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My disabled mother also got a loan for several thousand pounds and she doesn't work. The reason given is that she has a good credit rating, has paid back all her other loans well, and as they say she will never be in a position where she loses her job and therefore income, as she doesn't have a job in the first place ! (Her income is her small pension)

 

Why would anyone not want to pay just because they think they shouldn't have got a loan in the first place? That isn't a genuine reason at all! :shock:

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Why would anyone not want to pay just because they think they shouldn't have got a loan in the first place? That isn't a genuine reason at all! :shock:

 

Unfortunately there are people out there who think the world owes them a living and are not prepared to accept responsibility for their own actions.

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Thanks for all of your replies. Your comments will be passed on. I will leave it with them, as to what they decide to do. For information purposes I will keep you informed of what they do.

 

I agree with powell, if you borrowed the money, then pay it back. Just didnt want to say that to them.

 

Thanks again

IF Current A/C won

MBNA A/C 1 Settled in full

MBNA A/C 2 S.A.R - (Subject Access Request) Settled in full

Lloyds TSB CC - S.A.R - (Subject Access Request) sent

Citicard S.A.R - (Subject Access Request) sent

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Did the application have any information about her partners income?

 

Have they evidence they are suffering from financial hardship?

 

I guess she could go down the complaints route via The FOS.

 

 

Do not know if there was information about her husband on the application form.

 

Their financial situation has not changed, from what I am aware of. He still works, and shes still a housewife.

IF Current A/C won

MBNA A/C 1 Settled in full

MBNA A/C 2 S.A.R - (Subject Access Request) Settled in full

Lloyds TSB CC - S.A.R - (Subject Access Request) sent

Citicard S.A.R - (Subject Access Request) sent

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