Encouraged to lie by HFC Bank

[darylnaylor]

Hi, this is my first time here, hope someone can help. Basically, I got into a bit of a mess trying to juggle repayments a couple of years ago, and in desperation so as to make my payments for other debts that month, took out a loan from a certain bank that charges very high interest rates. When I went in to ask for the loan, I was told that my income wasn't enough for the amount I needed, and in order to get the amount I asked for, I was encouraged to enter a false income and have it signed by a colleague at work rather than my boss. Foolishly, I did this and was given the loan.

 

The following month I was in an even worse state and finally bit the bullet and looked for an alternative solution, ending up paying my debts through the CCCS which is something I now wish I'd done years ago! However, my intitial loan of £8,000 had now had the interest applied as if for the whole term, and it suddenly became a loan of £16,000, which is the total amount they say I now owe. First question is, is this correct of them to do this?

 

Second question is, do I have any legal rights against this bank as I was encouraged to lie to secure the loan?

 

Any assistance gratefully accepted.

Thanks

[PPMAN159]

Could be a problem if you are ever asked to prove the income figure that you signed for on the original application.

[darylnaylor]

Thanks for your reply. Would the bank not have a record of this as part of my file?

[PPMAN159]

You said in your original post that HFC had told you to enter a false income so my point is should you ever need to prove that the income figure that you put on the form is correct, you will have a problem in providing the requested proof.

 

HFC will never admit to asking you to falsify your income and at the end of the day it will come down to your word against theirs.