I lied on a loan application

[Jaanda]

I have looked around the forums, but can’t find anything that helps me solve a problem I have.

 

Around 2005, I took out a loan for £25k. Thinking back, I’m certain that I owed the bank about £7k for a previous loan. The new loan repaid the old and I got the difference.

 

Jump forward to 2012. My final payment for loan 2 to the bank is made. I had never missed a payment and the loan was repaid in full.

 

Here’s my problem … I lied on the loan agreement. It has always bothered me. I was unemployed at the time and the bank chap basically guided me through what to write on the loan application to get the loan. I claimed to be employed and earning … (I actually can’t remember what I said I earned).

 

The issue I have is that I know I lied. Even though I repaid the loan, I lied. Even though the bank chap explained what I should write on the paperwork, it was me that lied. I understand that people will probably find this post amusing / silly as the loan has been repaid, but I find the guilt overwhelming.

 

My question is, is the fact the loan was repaid in full, on time, any kind of mitigation for the fact I lied ?

 

Many thanks.

J

[steampowered]

Its always wrong to lie, but if the loan has been repaid in full the bank has suffered no loss. Yes I think it is mitigation.

 

Is this just a moral problem or is there something more?

[Jaanda]

Thanks for taking the time to reply, SteamPowered. There is nothing more, it's purely a moral issue I have.

 

J

[sequenci]

Hi,

 

I'm sure Steampowered will clarify this but, as far as I understand it, it would have only been a potential issue if you intended to take the money and run. It's clear by your actions that you never intented to cause the bank a loss, as such I cant see any significant (i.e. criminal) wrongdoing. Try not to worry about the moral element, I can tell you wouldn't do it again. And that's enough in my book.

 

Seq.

[Jaanda]

Many thanks for your comment, Seqenci, I appreciate it. I was hoping things would be viewed as you wrote. Honestly, I don't know why it bothers me so much. Other than the readers here, no one knows what I did.

[rebel11]

Hi Jaanda

 

Have you been mis-sold PPI on the loan?