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It might seem tempting to miss out expenses or exaggerate your income to get accepted for a loan or to increase the amount you can borrow, but this could make your situation a lot worse if you borrow more than you can realistically afford. It’s important to give accurate information to your creditor if they’re checking affordability. What happens if I give wrong information to a lender? If you make a complaint, there’s no guarantee that your creditor will agree to this, but you may be able to agree to other concessions, for example allowing you to pay the debt back at a reduced amount.īeing refused credit can often be a sign that you need help with money, especially if you have other debts that you’re struggling to manage. Some payday loan companies have been made to refund interest or write off debts which were lent irresponsibly without affordability checks. If this has happened to you and as a result you’ve struggled to repay a debt you could make a complaint to the creditor. Without falling behind on your existing commitments, and.To lend responsibly, a creditor must be confident that you can repay the debt: Lending money without properly checking affordability is known as irresponsible lending. This could leave you with a choice of cutting back on your essential living costs to keep up with the payments, or missing payments to the debt which could lead to your account defaulting. If a creditor hasn’t done proper affordability checks, they may give you a loan that’s larger than you need, or that you can’t afford to pay back.