refund from myloan.co.uk??

I have seen a few sites in the past saying yo're paying for "membership" as opposed to paying a brokerage fee.

The site you've posted Fluffy is really basic and sways between talking about £'s sterling and US $'s and you're right as soon as you hit apply it asks for all your details including bank details... I tried looking for fee's and charges but there are none to be found so I suspect that comes after you've given them details - all references to interest charges are pretty low as well and it suggests you're guaranteed a loan which is odd when they're not the lender!

AVOID AVOID AVOID!!!

MB of G

Gaz83 wrote: »

Try reading this thread.

Emailing them everyday sounds like much more fun!!!

I have spent the past day or so reading through page after page of the Loans section of this website. I managed to get to page 80 and have read countless threads relating to these dodgy practices by so-called brokers. In fact I think they are pushing it even referring to themselves as brokers as no one seems to have gotten a loan from them whether they have paid the fee or not.

Why do the same band of users insist on being so condescending though? It is as though you are revelling in a sense of schadenfreude which is not a good way to behave towards your fellow man. It is the same users doing this in each and every thread that relates to this subject matter. It is also as though you are all on the side of the dodgy swines that are perpetrating these frauds.

The poor people that come on here looking for help should be met with a little more understanding. After all, if they are applying to these types of lenders they are already in a desperate situation and once they have been tricked they probably feel rather foolish and I am sure the last thing that they need is to be belittled by other users on here for the mistakes that they have made.

I am sure that I will now get a volley of replies proclaiming that the charges are advertised when they are signing up on these sites and how they should be more careful when they are handing out their card details. Yes, they probably should, but I am pretty sure that they have now realised the error of their ways and do not need to be reminded several times about it. Although these sites do mention fees in their terms and conditions, they still go about it in an underhand way. In communicating with the staff at these "brokerages" one will often be told that they have been "accepted" for a "guaranteed" loan and when one is in a financial quandary hearing these words is enough to persuade someone to hand over their information to these sharks in the hope of getting a loan.

Now, let's put aside the ins and outs of whether or not these people should or should not be applying for loans or whether they can afford it or not, that is none of our business. What is our business, should we choose it to be, is to advise these people how best to claim back the monies that have been swindled from them. And make no mistake about it, they HAVE been CONNED. I am pretty sure that if it were said to them, "we will TRY AND FIND a loan for you, with no guarantees that you will get ANY loan at all, if you hand over £X.XX to us" they would not go on to provide their card details. Let's be honest, the common denominator here is that most people do not know anything about these charges until AFTER they have been taken and in 99.99% of cases, they can ill afford to lose this money to these sharks and then wait 30 plus days to get their money back, and that is if they are lucky enough to get it, as again, these companies employ underhand tactics and lies to hang on to your money as long as possible and even then a FULL refund is often not forthcoming.

With all of the above taken into consideration, I would think that it would be a good idea for Martin or one of the other forum administrators to make a sticky thread in the Loans forum that details what steps need to be taken to claim a refund of these fees in a clear and concise manner. In this way there will be little room for the condescending comments to persist, and users can simply be linked to the sticky thread which would be at the top of the forum, so in many cases they probably won't even require this as it will be in plain sight at the top of the forum.

I will outline here what steps you should take to claim your refund and secure your bank account.

Go to the website of the brokerage that you signed up at with your card details and read their Terms and Conditions and take note of the refund and cancellation procedure. In many cases this will involve writing a letter on paper and sending it recorded delivery by old fashioned snail mail. Sending it recorded delivery is important as it is common practice for such entities to deny having received your letter so that they can hold onto your money for longer. This way you can prove that it was delivered with the added bonus that you will also know who signed for the receipt of the letter.

When you write your letter, simply ask to claim your refund and do not include any personal horror stories or abusiveness etc as this will just provide them with something to laugh about around the coffee machine and is surplus to requirements.

Also, remember, there is no alternative to writing this letter. If you want a refund it is the only way to do it. They do things this way as they know a lot of people simply will not bother to do so and just give up leaving them to keep your money. I would suggest that if you really feel as though you have been had then you should stop at nothing to write and send this letter as they rely on people not sending their letter as this way they can keep your money. This is because having provided your card details etc you have unfortunately bound yourself to their Terms and Conditions so you must continue to follow them to get your refund.

If everyone that gets had by these brokerages writes their letter and claims their refund, they will not be able to stay in business for very long at all. They are clearly making money from this endeavour as they are still going aren't they? And looking into it, some of them have been trading for a number of years, so if you want to put a stop to it, then follow the instructions that are laid out here.

Once you have taken on board the above, get in contact with your bank and cancel any Continuous Payment Authorities that may have been set up. A common one is the Credit-Cleaner CPA at £9.99 a month. You may not have heard of this or recognise it but there is a good chance that you have been signed up to it.

Some people may disagree with the next step, but I would consider it prudent to cancel your current debit card and get a replacement as this card will have a new 16 digit number so if your details have been passed on to any other brokerages then they will be unable to take any more money from you.

It would also be a good idea to tell your bank what has happened so that they are aware of the situation, in which case they will help you to stop any further payments going out, and if they do allow any payments after the fact then it will be much, much easier to get them refunded. Also, depending on how sympathetic your bank branch is to your plight, they may be able to issue a chargeback against the companies involved and get your money back for you instantly. This is not a guaranteed tactic by the way and each case will be taken on it's individual merits but it's your money after all and it's worth a try. Anything to stop these companies getting their grubby mitts on your cash and keeping hold of it. It's your money after all, this point is paramount and it surely doesn't hurt to try everything you can to rectify the matter.

One more thing, when dealing with your bank, be persistent with them. You are the customer and it's your money, so put your foot down with them. The bank have a duty of care to protect your account from unscrupulous activity.

Above all, hopefully you have now learned a valuable lesson in being a little more careful when divulging your card details and not to be blinded by offers of guaranteed loans. There is no such thing as a guaranteed loan, and the brokers even tell you this in their Terms and Conditions. The advisers will lie to you and tell you that you have been guaranteed a loan. If you have to, mention this to your bank in support of your case, as it will help you in as far as you have been mis-sold a service. Anything you can do to support your case surely cannot hurt can it now?

To finish, I am not interested in getting replies from the usual suspects that will provide argument against some of the points that I have raised here. I will say now, I am not interested. I have simply posted here to help people get their money back in a plain and simple fashion. However, if there is anything factually wrong in any of the information that I have provided, please go ahead and let me know by all means.

If a thread is made with this information and stickied at the top of the forum it may stop people from getting in this mess in the first place as forewarned is forearmed after all.

Good luck in getting back what is rightfully yours!

e2a: I see the familiar group of users continuing their circlejerk thanking each other for being masters of the universe with their otherwise useless posts!