no bail out for banks bail out for the victims, page-24

The same thing happened to me when I applied for a car loan.

The car yard broker had me fill in all my paperwork and I emailed it off (lived 100's of k's from the city).

Got the loan approved and then when I saw the docs, he inflated my income significantly.

I didn't care, I got the loan and the new car. Why should I care, I knew I could make payments (much like the mortgage holders THINKING they could make payments.)

So who is at fault...

1. The broker
2. The borrower
3. The lender ONLY if they knew the information supplied was false.

Should the lender have to do due diligence on a broker they have been dealing with for some time? NO... However I feel that some lenders know exactly what goes on behind closed doors.

Anyway, I made all my payments, didn't have trouble, didn't go bankrupt and didn't cry "fair play" and go off and sue the lender...

But it does go on, alot more often than people realise.