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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 70216
Experience:  Over 5 years in practice
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if a false statement is made to obtain a bank loan is it an

Customer Question

if a false statement is made to obtain a bank loan is it an offence
Submitted: 4 years ago.
Category: Law
Expert:  Jo C. replied 4 years ago.
-Could you explain your situation a little more?

Customer: replied 4 years ago.

My daughter in law has taken out a bank loan in 2008 in her name and has declared the reason for the loan was for loan fees whilst studying a BA in Mktg and living expenses when in fact she graduated with BA Mktg in 2005 and has used the monies for other reasons.

Expert:  Jo C. replied 4 years ago.

That wouldn't amount to an offence I'm afraid.

If she has borrowed the money in her own name and is repaying it then there is no fraud.

The fact that she has used the money for a different purpose is a non issue.

Sometimes when you make false declarations to a loan company to obtain a better credit price there can be a fraud but as long as the funds were being repaid most likely they would not be interested anyway.

I'm sorry this isn't the answer you wanted but it is the position that you face and I have a duty to inform you truthfully.

Hope this helps. Please remember to rate my service either OK SERVICE or above and then I will give you related information for free.
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Customer: replied 4 years ago.

The fact is she has not repaid it for some months and my son is concerned

Expert:  Jo C. replied 4 years ago.
Its a debt issue rather than a criminal offence really.

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