Results 1 to 3 of 3

Thread: Loan Application declined - No Landline at work.

  1. #1
    Junior Member
    Join Date
    Aug 2013
    Thanked 1 Time in 1 Post

    Question Loan Application declined - No Landline at work.

    Good Day

    I applied for a loan through a certain bank and they let me know that my application was decline due to the fact that we do not have a land line at work, I work in an industrial area and the phone lines keeps getting stolen so my boss cancelled our land line and we got a maxi phone, which runs on a sim card.

    I looked on the internet and found a lot of people complaining about the same thing, is this a new law on the credit act or new legislation or are the banks just being difficult?

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Durban, South Africa
    Thanked 2,397 Times in 2,004 Posts
    Blog Entries
    First I've heard of it, but after doing a Google search it looks like it's a problem people run into in the UK too.

    Interesting that you post this in the NCA section - a credit provider discriminating against a person or entity because they don't have a landline telephone might be worth flying past the ombudsman for a ruling.

    From a practical point of view - try some other banks. I doubt it's the sort of thing that they'll all be applying in their criteria and credit risk assessment.

    I kinda understand why they might see it as a signal of sorts though. Having a landline implies a little more permanence, stability and traceability. Hard to see how it can be justified as an "instant fail" signal though.
    Seeing opportunity changes nothing. Seizing opportunity and running with it changes lives.

  3. #3
    Platinum Member's Avatar
    Join Date
    Oct 2009
    Thanked 551 Times in 400 Posts
    Blog Entries
    Given that it is landlines at work it may hold up on the basis that it discriminates but is not unfair discrimination. There is some logic thought, I.e stability, not fly by night etc.
    As an absolute disqualifier it seems absurd, particularly if you consider I can get a neotel pay as you go for the purchase of handset, about R600. I keep my number even if I'm not buying airtime. Pretty easy to stabilise the business.
    Anthony Sterne
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

Similar Threads

  1. Replies: 3
    Last Post: 07-Mar-13, 06:09 PM
  2. [Question] STC Credit application
    By nichoalscfm in forum Accounting Forum
    Replies: 2
    Last Post: 24-Aug-12, 03:56 PM
  3. I need somebody to write an application
    By adrianh in forum Technology Forum
    Replies: 4
    Last Post: 17-Jan-11, 05:54 PM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts