Banking Law Questions

Dan133269

I am not looking for any advice, just clarification on the relevant laws or cases.

1. If A received a loan from the bank without signing a credit agreement, can the bank block A's access to his/her current account and the money contained therein as an attempt to coerce A into signing a loan re-payment agreement?

2. If a bank does have such powers, does a certain amount of notice (or any notice at all) have to be given to A before his current account is frozen?

dotsman

Dan133269 wrote: »

I am not looking for any advice, just clarification on the relevant laws or cases.

As per your last thread, if you are unwilling to repay your debts, you need to speak to a solicitor immediately.

The lack of a credit agreement does not mean that you do not owe the money, so stop trying to steal it. The very fact that the loan was set up in your name, that you accessed it and then drew down the funds means that there is no dispute as to whether you were lent the money or not. All it means is that the specific terms and conditions (ie repayment schedule etc) may be debated.

Dan133269 wrote: »

1. If A received a loan from the bank without signing a credit agreement, can the bank block A's access to his/her current account and the money contained therein as an attempt to coerce A into signing a loan re-payment agreement?

Of course. It's not so much about coercion - it's more to do with fraud prevention and recovering as much of the debt as possible.

Dan133269 wrote: »

2. If a bank does have such powers, does a certain amount of notice (or any notice at all) have to be given to A before his current account is frozen?

Of course not. Do the gardai give a criminal a week's notice that they are going to search their house for the stolen loot/evidence etc?

Dan133269

dotsman wrote: »

As per your last thread, if you are unwilling to repay your debts, you need to speak to a solicitor immediately.

The lack of a credit agreement does not mean that you do not owe the money, so stop trying to steal it. The very fact that the loan was set up in your name, that you accessed it and then drew down the funds means that there is no dispute as to whether you were lent the money or not. All it means is that the specific terms and conditions (ie repayment schedule etc) may be debated.


Of course. It's not so much about coercion - it's more to do with fraud prevention and recovering as much of the debt as possible.


Of course not. Do the gardai give a criminal a week's notice that they are going to search their house for the stolen loot/evidence etc?

Thank you for your insight.
It's amazing that a banking law expert would have such difficulty understanding the difference between civil and criminal law.

As regards my apparent loan, when did I ever say I had one? I merely asked for information, that is, after all the entire purpose of a discussion forum.

Your analogy of a bank giving a client notice or warning of their intention to block his/her current account with the Gardai warning a criminal of their search of his/her house is one of the most ludicrous things I've ever read.

If you don't have anything constructive to post, please don't post at all.
In the event that there is an element of truth in anything you said, please provide a source.

dotsman

Dan133269 wrote: »

Thank you for your insight.

Your welcome. Just because it is not what you want to hear, doesn't make it any less true.

Dan133269 wrote: »

It's amazing that a banking law expert would have such difficulty understanding the difference between civil and criminal law.

Where am I supposed to be showing a difficulty understanding the difference between civil and criminal law?

Dan133269 wrote: »

As regards my apparent loan, when did I ever say I had one?

I'm sorry, of course I was referring to "John".

Dan133269 wrote: »

I merely asked for information, that is, after all the entire purpose of a discussion forum.

Actually, it is against the rules of this discussion forum to solicit adivse on how to get off repaying loans. I think it's pretty clear to all that the purpose of your questions is to find a loophole that will enable "John" to escape paying his debts...

Banking & Insurance & Pensions Charter wrote:

No Dishonest Dealings.
Don't ask how to get around repaying debts/defaulting/giving false information for loans etc - basically if it's not above board, and legal, it's not allowed. This includes advising posters to do it/how to do it.

...And to that end, I have reported this thread.

Dan133269 wrote: »

Your analogy of a bank giving a client notice or warning of their intention to block his/her current account with the Gardai warning a criminal of their search of his/her house is one of the most ludicrous things I've ever read.

You must not have read much in your life! The analogy makes perfect sense. If the bank were to give you a week's/month's notice etc, would you not have transferred all your funds in that account to another bank and thus out of the reach of the victim? (same as a criminal would move the evidence loot if they knew the gardai were coming for it?)

BuffyBot

Re-starting a (previously closed) discussion is a bad idea folks..