City Financial Loan Brokers....SCAM or NOT ?

errleinis28
errleinis28 Posts: 2 Newbie
edited 16 January 2014 at 3:35PM in Loans
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Back to the original post...

Is this company a scam or am I just paranoid, I paid £65 to them today and was told I was to receive £5000 by between Tuesday and Thursday next week. I questioned Jonathan who was my advisor about the loan and he told me I'd definitely got it, the APR is 15% and the repayments are £118 a month over 5 years.
My problem is I have now been sent the T&C which state they're a loan brokers and not a loan company (which I was led to believe). Now I'm worried am I even going to get my money, has anyone else had any problems with this company or on a brighter note actually had a loan payment like promised ???
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Comments

  • Apples2
    Apples2 Posts: 6,442 Forumite
    You've been scammed.

    look into their T&C's and WRITE for a refund cancelling your application.
  • Is it better to write or phone as on the T&C the numbers on there, or should I do both???
  • Apples2
    Apples2 Posts: 6,442 Forumite
    Write, do not try to call. You will simply get a runaround spending hours on hold for no result (and spending a fortune on calls).

    Write the cancellation letter, print it off, post it recorded delivery
  • KingElvis
    KingElvis Posts: 4,100 Forumite
    Yep, as Hamlet said to Macbeth, you've been stitched up like a a kipper.
    "We want the finest wines available to humanity, we want them here, and we want them now!"
  • has anybody had any succes with this company?
  • Apples2
    Apples2 Posts: 6,442 Forumite
    riley1983 wrote: »
    has anybody had any succes with this company?

    Define success.

    If success means they process your application and take their broker fees then it's a fair guess the success rate is about 100%.

    If you gauge success using different parameters.... what do you really think?
    Have you given these guys money in a vain hope they will find you a great loan? if so, you too have been scammed.
  • Enfieldian
    Enfieldian Posts: 2,893
    First Anniversary Combo Breaker
    Forumite
    Did you not think to yourself, "Hang on, I want to BORROW £5,000 not SPEND £65"?
  • I have paid this company for introduction of pre-approved loan providers. I sent the T & C's twice and then finally sent them recorded delivery before they admitted to receiving them. Needless to say I have yet to hear from a loan provider despite their assurances. From what I can make out all of these brokers are scams and need to be avoided. I have had the same problem with an outfit known as Wentworth Direct Finance and have now written to them recorded delivery for a refund of the fee I paid and the 0844 phone call I had to make to contact them that took in excess of an hour just to get a person on the line. Having spoken to Consumer Direct they are in breach of section 155 of the consumer credit act. We shall see.
  • backinbusiness
    backinbusiness Posts: 870
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    edited 23 September 2011 at 4:53PM
    Sorry OP, but just have a wee trawl round the net before you pay out ANYTHING up front!

    Good luck tho'
    DF :grin:
This discussion has been closed.
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