Responsible lending - what a joke!!!

[on-the-up]

Hi all,

I really had to share this with you all as I think it is just ridiculous. I am currently in an IVA owing money to numerous lenders. One of my lenders whom I owe approx £6000 to sent me a mailing saying I had been approved for a credit card and all I had to do was sign the form and send it back to get my card.

Purely out of curiosity as to whether or not this lender could actually be so irresponsible, I sent the form back. 2 days ago I got my credit card with a credit limit of £1500!!!

I have informed my IP and cut up the card and sent it back to the lender with a very snotty letter expressing my opinions on there responsible lending policies. The thing is if someone were really desperate, this sort of offer would surely be too tempting for many and the card could cause an IVA to fail if used - especially with such a high credit limit.

I know lenders dont force us tp take money but with things like this happening surely we can see why so many of us end up in it so deep?
The best part about it all is the company in question actually declined my IVA proposal but were out voted!

[MelanieGiles]

Your post made me smile - and whereas I probably should be advocating how naughty you were to apply for credit without your supervisor's permission, I secretly admire the fact that you made the application simply to test the system and prove how poor it is sometimes. To other forum posters in IVAs who are at home reading this "Please do not try this at home"!"

Well done for cutting up the card and informing your IP. What did they say as a matter of interest?

[on-the-up]

Hi Melanie,

They were like yourself basically, a slapped wrists for applying but could understand where I was coming from and the reasons behind it! He said as long as I had not used the card then it was not a problem and agreed with me on the how irresponsible the lender is!

[angela18]

don't these companies realise that they are playing with peoples livelihoods, when they offer debt on a plate, they put it across that they are doing you a favour by letting you have loans and cards!!! I wish we had ignored this junk mail coming through doors and then we wouldn't be in the mess we are in today11 THATS MY RANT OVER WITH [:(!]

[aguise]

It just goes to show how well these companies check to see if someone is suitable for a credit card. Totally irresponsible lending.

Ang