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I took out a Unsecured Personal Loan with Halifax online in December 2011.

 

I was NEVER asked questions like, can you afford the payments, are you employed/unemployed, and I certainly was not asked about my income.

 

This have got so bad I am currently on an IVA - Halifax increased the IVA from 5 years to 6 years forcing me to pay for longer.

 

I am now wondering if bankruptcy is the best option.

 

Do I have a claim that Halifax lent to me irresponsibly without going through my finances first?

 

:-x

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Did you apply through your on line banking? I would say that it would be highly unusual, to the point of being unheard of, for them not to ask for financial information.

 

If you are considering bankruptcy, you will need to take professional advice from somewhere like CAB - it's certainly not something that you should do lightly. Can I ask if you're employed at the minute?


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Hello there.

 

Are you sure you're under an IVA, who is your Insolvency Practitioner? Was there another creditor's meeting to increase it from 5 to 6 years?

 

 

IVA/DFD thread is here for ref:

http://www.consumeractiongroup.co.uk/forum/showthread.php?436352-Debt-Free-Direct-used-DLA-in-IVA-bound-to-fail-fron-day1

 

 

dx

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I cannot see any claim for irresponsible lending at all, Halifax on line apps are pretty comprehensive from experience.


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I cannot see any claim for irresponsible lending at all, Halifax on line apps are pretty comprehensive from experience.

 

The only issue I can think of is that they should have performed a credit check - which should have flagged up the IVA.

 

This doesn't appear right in the slightest.

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From memory when an online app is made there is an immediate electronic link to the lenders preferred credit reference agency, if this fails the lender then proceeds with the app manually.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

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From memory when an online app is made there is an immediate electronic link to the lenders preferred credit reference agency, if this fails the lender then proceeds with the app manually.

 

Sounds about right matey.

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If it were Halifax who increased the IVA.. they would almost certainly have known of it ?


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If it were Halifax who increased the IVA.. they would almost certainly have known of it ?

 

They cannot imcrease an IVA. That can only be arrnaged by the Insolvency Practitioner - although Halifax can have an input into the decision making process - they have voting powers when it comes to any modification.

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What came first - the loan or the IVA ?


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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What came first - the loan or the IVA ?

 

That's a very good question :)

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thanks for the above replies.i certainly did apply for the loan through online banking when i logged into my current account.

 

the iva was later sought as i knew i couldn't keep up payments on the loan.

 

they definately did not ask for my income or expenditure, and there was certainly nothing asked about employment.

 

halifax did not check regarding affordability either.

 

they only did a credit check.

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Do you have assets? e.g. a car or a mortgaged property?

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Do you have assets? e.g. a car or a mortgaged property?

 

No I dont!! Bankruptcy for me is the only option now, I cant afford the IVA much longer, thanks a lot Halifax for putting me into this situation you bastids ::++((

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If you have no assets then bankruptcy could be a viable alternative. If you're working and have disposable income you are likely to be asked to pay your spare surplus disposable income into the bankruptcy under an 'Income Payment Aggrement', this lasts for 3 years usually.

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I do live with a partner but I am not on the deeds and not on the mortgage, if Halifax hadn't lent me all this money I wouldn't be in this bloody mess ::++((

 

I will go into CAB at some point regarding bankruptcy.

 

Is there anywhere where I can go to get help with the bankruptcy fees??

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You can try these guys: http://www.turn2us.org.uk/

 

Be mindful that if you have ever contributed towards the purchase of the property, or even towards the household bills there could be a 'beneficial interest' in the property - as such it may be implicated within your bankruptcy. How long have you lived there?

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I have already asked about this question, and the answer is no i do not have a financial interest. I've not helped purchase the property and I have never paid towards the mortage. I do have household bills in my name i.e gas, water, tv licence, but I carried these bills on from a previous address when I lived on my own.

 

And plus I would pays these bills if I lived on my own anyway!!

 

I've lived with him at this address since April 2011.

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Given what you've said it's very likely that there is no beneficial interest then.

 

Who advised you to take the IVA? Did you seek independent advice?

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Thank you for that. Did they even mention the possibility of bankruptcy?

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Nope nothing about bankruptcy; I think they wanted an IVA because they get fees!!

 

Got an appointment next week to discuss bankruptcy with a debt adviser at the CAB.

 

I'm really quite angry with Halifax; they gave me all this money without checking to see if I could make the repayments!!

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I think you're right regarding the IVA, the commercial firms seldom offer truly impartial, holistic advice - they'll usually seek to suggest an option which is financially lucrative for them, and an IVA makes more money than any other debt option. It may not have been the wrong option per se, but they should have told you about ALL options open to you, that way you can make an informed decision.

 

Glad you're going to see the CAB.

 

Halifax would have had access to a wealth of data from your bank account, that could be a strong argument for them as far as their duty to you is concerned.

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They never mentioned anything about bankruptcy, and nor did they say anything about a debt relief order.

 

When I told them I was going to apply for bankruptcy at some point this year they panicked of course!!

 

They turned round and claimed my partner's property would be taken into account, yet I know now it shouldn't be!!

 

The IP they used up my IVA from a standard 5 years to 6 years!! There excuse was my monthly contribution was too low (I'm paying 64% a month)

 

CAB were appalled when I told them this on the fone, they said it was out of order forcing me to pay a debt for longer then is necessary.

 

Do you know of anywhere where I might be able to get help with the bankruptcy fees??

 

Thanks xx

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In 2006, Halifax gave me a credit card with a reasonable credit limit of £1000.

 

Each time I used then card and then paid it off, they kept increasing the credit limit without my permission.

 

In time the credit limit soared to £9000.

 

My gripe is that they knew I was unemployed and on benefits when they kept increasing the credit limit.

 

There is currently a debt of around £3K.

 

In about December 2010, Halifax then gave me a personal loan.

 

This was done via online through my current account.

 

I am now concerned about this loan because they did not check my income or expenditure, and did not ask about my employment status etc etc.

 

The loan was for £7K. This was used to pay off other debts.

 

My question is this, did the Halifax knowingly lent me money to which I could not afford to pay back as they did not ask me any financial questions when applying for the loan?

 

I had tried to get my credit card written off as my original agreement was before April 2007, but was unsuccessful.

 

Do I have a claim that they lent to me irresponsible and caused me to go into an IVA?

 

Any advice please thank you; I feel embarassed to ask but I feel Halifax lent to me irresponsibliy.

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