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LoanPal *BEWARE*
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# 1
creditfool
Old 07-08-2012, 7:43 PM
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Default LoanPal *BEWARE*

*LOANPAL - this post describes the tactics used by what appears to be a professional site, to extort fees of around 40 from it's users, and potentially more...*


In the past, having used Wonga a couple of times, I found the payday loan service very good and straightforward, with no catches, and reasonable - considering - interest rates.

Recently, however, I required closer to 1000 of credit. I searched for a payday loan company that would offer a bit more and clicked on one of the top sites listed by Google. Without noticing particularly, I think I was forwarded onto loanpal. Looking and sounding like a site very similar to Wonga, it told me I had been accepted for a loan, and to enter my details, and I did.

At no point was it made clear that the site was merely a "front", who for a handsome fee would give me access to a number of questionable credit agencies that have since bombarded my mobile with spam-style SMS messages.

After this, a fee of 39.77 was taken from my account attributed to loanpal (co.uk) Furthermore, and perhaps ever more worryingly so, I have also had a further 1 taken from my account from a company MyLoans that I have to assume is linked in some way.

Having looked at the company terms and conditions, I very much doubt that I will be able to be refunded my money for this "service" I did not know I was paying for, nor that I wanted.

I write only in hope that I save some other poor sod from making the same mistake.

This said, if anyone might offer advice as to how I could reclaim my money, please do tell...
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# 2
Tixy
Old 07-08-2012, 8:00 PM
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If you have now read the T&Cs you will see that you can write to request a refund of all but 5 of your fee.
Write to them, state you wish to cancel your application and for them to cease processing your details. You will eventually get the money back (providing you have not accepted a loan from any of the people they have put you in touch with).

As a warning there are very many of these types of sites about (and some who are a lot less subtle about being loan brokers than that one - which does state it on the first page). You will now probably find your details being passed around many of them now - make sure you don't fall for any others and don't give them your bank details.
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# 3
creditfool
Old 07-08-2012, 8:10 PM
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Thanks Tixy,

At no point was it made clear that a fee would be taken for completing the process. Infact, I believe it is specifically made similar to more popular sites like Wonga to appear as though they have processed the loan.

Any word on the additional 1 taken directly from my card from MyLoans?

Could this be a charge as a result of txting STOP to one of the numerous agencies that have sent and SMS?

Needless to say, more care must be taken around these things.
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# 4
tell_it_how_it_is
Old 07-08-2012, 8:11 PM
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It's part of the problem - once you go off the beaten track and start having to choose companies who aren't mainstream and that you've never heard of, you really are taking an almighty gamble with your (likely already fragile) finances.

As Tixy says, you should be able to get all but a fiver back, but it's a little bit of hassle to do so, and probably a lot more hassle to come from these companies. Good luck.
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# 5
Tixy
Old 07-08-2012, 8:21 PM
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You say it was at no point made clear - but there is a box at the bottom that states you had read and accept the T&Cs.

Not sure about the other 1. I certainly wouldn't respond to any more texts from any one regarding loans etc and eventually they will hopefully die down.
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# 6
ihateyes
Old 08-08-2012, 10:47 AM
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Quote:
Originally Posted by creditfool View Post
*LOANPAL - this post describes the tactics used by what appears to be a professional site, to extort fees of around 40 from it's users, and potentially more...*


In the past, having used Wonga a couple of times, I found the payday loan service very good and straightforward, with no catches, and reasonable - considering - interest rates.

Recently, however, I required closer to 1000 of credit. I searched for a payday loan company that would offer a bit more and clicked on one of the top sites listed by Google. Without noticing particularly, I think I was forwarded onto loanpal. Looking and sounding like a site very similar to Wonga, it told me I had been accepted for a loan, and to enter my details, and I did.

At no point was it made clear that the site was merely a "front", who for a handsome fee would give me access to a number of questionable credit agencies that have since bombarded my mobile with spam-style SMS messages.

After this, a fee of 39.77 was taken from my account attributed to loanpal (co.uk) Furthermore, and perhaps ever more worryingly so, I have also had a further 1 taken from my account from a company MyLoans that I have to assume is linked in some way.

Having looked at the company terms and conditions, I very much doubt that I will be able to be refunded my money for this "service" I did not know I was paying for, nor that I wanted.

I write only in hope that I save some other poor sod from making the same mistake.

This said, if anyone might offer advice as to how I could reclaim my money, please do tell...

How can you not notice the following:

Top of window it says: The UK's favourite loan finding service

middle of window: Your Loanpal will search a panel of over 285 lenders.....

in their t&c's they state, which is only 1/3rd way down:

Fees & Cancellation
We charge a one off fee ("processing fee") of up to 49.50 for providing you unlimited access to our unique loan finding service. We do not charge any other fees or recurring fees. We specify the fee as part of our communications with You. By accepting our terms and conditions you are requesting that we provide our loan searching service immediately, and as such we perform our duties under the contract immediately. Consequently you agree and understand that you will therefore not be entitled to cancel this contract by virtue of the Financial Services (Distance Marketing) Regulations 2004 ("the 2004 Regulations"). This is because by providing our services immediately, at your request the contract falls within one of the exceptions to the right to cancel. In the event, however, that we do not find a loan provider for you within 14 days of your application, we will refund your processing fee less 5, in accordance with and as permitted by the Consumer Credit Act 1974. All refunds must be requested in writing to: BM LOANPAL, LONDON, WC1N 3XX.
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# 7
Nikibob
Old 24-03-2013, 12:48 PM
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I to have just been 'scammed' by this company for 49, have seen quite a few threads on google about this company! They are quick enough to send you an email 'thanking you' for handing money over to them straight away (of which the site says it will be taken out within 45 DAYS not HOURS!!) But not quick enough to answer the phone or any emails i have sent. I now have to wait until Friday for my bank to start an investigation to hopefully get my money back but am not holding my breathe. I tried phoning the number they have given on their website all weekend and not once did someone pick up the phone. I also emailed quite a few times asking for a call back as i could not get through and didn't get so much as an email. But i guess you do learn from these sites - either make do with what you have got or do A LOT of research for any company even the high rated ones!! Hope nobody else has to be put through being scammed by these or any other company, also hope people have the awareness in the future to check the company out before giving any details especially bank ones!!
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# 8
R P W
Old 25-03-2013, 9:56 AM
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or just read the T&C's?
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# 9
Sanchsoot49
Old 25-03-2013, 10:00 AM
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Anything that says it is the "UK's Favourite .... etc" I would generally avoid like the plague.

Hope you get some of your money back.
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# 10
wakd21
Old 12-12-2013, 10:25 AM
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Quote:
Originally Posted by Nikibob View Post
I to have just been 'scammed' by this company for 49, have seen quite a few threads on google about this company! They are quick enough to send you an email 'thanking you' for handing money over to them straight away (of which the site says it will be taken out within 45 DAYS not HOURS!!) But not quick enough to answer the phone or any emails i have sent. I now have to wait until Friday for my bank to start an investigation to hopefully get my money back but am not holding my breathe. I tried phoning the number they have given on their website all weekend and not once did someone pick up the phone. I also emailed quite a few times asking for a call back as i could not get through and didn't get so much as an email. But i guess you do learn from these sites - either make do with what you have got or do A LOT of research for any company even the high rated ones!! Hope nobody else has to be put through being scammed by these or any other company, also hope people have the awareness in the future to check the company out before giving any details especially bank ones!!
On one page of the website it does state there is a small fee of 49.50 but on another page of loan pals website it then says the following:

Fees & Cancellation

We charge a one off fee ("processing fee") of up to 89.50 for providing you unlimited access to our unique loan finding service. We do not charge any other fees or recurring fees. We specify the fee as part of our communications with You. By accepting our terms and conditions you are requesting that we provide our loan searching service immediately, and as such we perform our duties under the contract immediately. Consequently you agree and understand that you will therefore not be entitled to cancel this contract by virtue of the Financial Services (Distance Marketing) Regulations 2004 ("the 2004 Regulations"). This is because by providing our services immediately, at your request the contract falls within one of the exceptions to the right to cancel. In the event, however, that we do not find a loan provider for you within 14 days of your application, we will refund your processing fee less 5, in accordance with and as permitted by the Consumer Credit Act 1974. All refunds must be requested in writing to: BM LOANPAL, LONDON, WC1N 3XX.
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# 11
Apples2
Old 12-12-2013, 11:54 AM
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I'm sure nikibob is relieved now having been waiting for that post since march
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# 12
Clive Woody
Old 12-12-2013, 12:39 PM
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Quote:
Originally Posted by Apples2 View Post
I'm sure nikibob is relieved now having been waiting for that post since march
He's no Tixy for response time!
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# 13
bigadaj
Old 12-12-2013, 6:43 PM
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Quote:
Originally Posted by Clive Woody View Post
He's no Tixy for response time!
You wouldn't let it lie.......
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# 14
Clive Woody
Old 12-12-2013, 11:49 PM
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Quote:
Originally Posted by bigadaj View Post
You wouldn't let it lie.......
Doing a Tixy is now an accepted euphemism for speed of action.
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# 15
Soleil lune
Old 12-12-2013, 11:56 PM
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I am sorry if anyone has been scammed, but LOANPAL??? That has to be the dumbest name ever, for a loan company!
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# 16
bigadaj
Old 14-12-2013, 3:40 PM
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Quote:
Originally Posted by Clive Woody View Post
Doing a Tixy is now an accepted euphemism for speed of action.
Apologies, I thought it was just a pop at apples.

So presumably quotes like 'your love making is tixy like' could now be adopted?
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# 17
Halo-Hayley
Old 26-02-2014, 1:41 PM
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I have just been 'scammed' by loan-pal,,,, I had a cold call form them which said they could get a loan for me, she took my card details-stupid I am- and when I asked Why she needed my security number from the back of my card she said it was 'just to confirm my identity'
She sent me a text to click into an account that was not registered in my name.

Unfortunately I was Scammed!!!

Unfortunately that wasn't why- Loan-pal.co.uk debited 89.50 from my account.
Unfortunately this apparently IS NOT fraud?.

Unfortunately I probably won't get my money back.

This Has Got To Stop

Last edited by Halo-Hayley; 26-02-2014 at 1:48 PM. Reason: To add something else
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# 18
Halo-Hayley
Old 26-02-2014, 1:47 PM
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If anyone knows of anything I can do to get that 89.50 back ,,, which is a hell of a lot of money for a phone call ! I would be very grateful.

The website also had a link to a company called moneywarehouse which unawares I filled out the application form,,, ( the application form popped up FIRST , NOT the homepage where it states the fee ) where they again debited 39 pounds from my card, I have cancelled my debit card so nothing more can be taken but this is IMMORAL and totally wrong and now am over 100 pounds down this month from ONE AWFUL PHONECALL
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# 19
DCFC79
Old 26-02-2014, 2:01 PM
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Quote:
Originally Posted by Halo-Hayley View Post
If anyone knows of anything I can do to get that 89.50 back ,,, which is a hell of a lot of money for a phone call ! I would be very grateful.

The website also had a link to a company called moneywarehouse which unawares I filled out the application form,,, ( the application form popped up FIRST , NOT the homepage where it states the fee ) where they again debited 39 pounds from my card, I have cancelled my debit card so nothing more can be taken but this is IMMORAL and totally wrong and now am over 100 pounds down this month from ONE AWFUL PHONECALL
Hayley, were you scammed though ? You gave your card details to a cold caller, they could have been anyone.

Cancelling the card might not even help.

So who took the money or how many debits have occured ?

Have 2 payments been taken ? A 39 and an 89.50 ?

To get a refund you need to read the T&C's for each 1 that took the money, it will mostly require writing to them and send recorded, its already been mentioned on this thread I believe what to get your money back.
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# 20
Apples2
Old 26-02-2014, 2:31 PM
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Quote:
Originally Posted by Halo-Hayley View Post
If anyone knows of anything I can do to get that 89.50 back ,,, which is a hell of a lot of money for a phone call ! I would be very grateful.
You could read the thread you have posted on, just up a little bit, you must have scrolled past it to write your post.

Quote:
Originally Posted by Halo-Hayley View Post
I had a cold call form them which said they could get a loan for me,
Nobody is going to ring you out of the blue and make your life any better, every cold call you receive is trying to get money out of you. Even those courtesy calls from your mobile/insurance providers, they are thinly guiled attempts to get you to pay more, sign up for longer etc.

Quote:
Originally Posted by Halo-Hayley View Post
Unfortunately I probably won't get my money back.
You can get a full refund, all you have to do is follow the correct procedure, the money is waiting for you to take back.

Quote:
Originally Posted by Halo-Hayley View Post
This Has Got To Stop
As long as people continue to give free access into their bank account to a complete stranger who has called out of the blue, it will never stop.
You should think yourself lucky, this voice on the phone could have emptied your account, because you gave him permission to do so (which is why it isn't fraud).
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