therightloan4u.co.uk
Comments
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I am in the unfortunate position of having recently to have been looking for a small payday loan. While searching I carelessly mistook a firm called a-z loans for being a direct lender - mostly because they told me that I had been offered a loan for £100, on reasonable terms too. I carelessly agreed to this loan - and gave my bank card details. All seemed well!
At no time was I informed that this company is a broker - but I later saw the very small print - saying that a fee of £57.99 would also be charged - but still not saying it was for brokerage services.
Though led to believe I had actually been given a loan - I received no money.
I have however received 100 s of emails and texts from other companies - most of whom are themselves brokers too and not direct lenders.
Though it is my mistake to have agreed to this apparent loan (though I maintain that that is debatable) - I at no time have agreed to or authorised - or given my bank details to any of the firms that they gave my details to.
However - today £57.99 was taken from my bank and a further ££59.99 was also taken by the - therightloan4u . co . uk - who I have had no contact with whatsoever, nor given my details to. I can only conclude that a-z loans not only passed my loan requirement and personal details on but also my bank details. I now have no idea if 100 s of firms now have my bank details - it is obviously a huge scam.
So - u are mistaken to assume all who try for a payday loan are idiots.
A little more help and some constructive advice and maybe a little maybe sympathy - rather than mistrust and judgement please!!!!
Were you asked at any point if you had read the T&C's ?
I bet the fees were listed in the T&C's.0 -
No, he's saying that he gave A-Z Loans his bank details and then later spotted the bit about a £57.99 fee - the Op has held his hands up to this but is saying that £59.99 has also been taken by 'therightloan4u' despite not giving them his details.
So unless the T&C's state that A-Z Loans have the right to pass on his bank details and he''s definitely NOT given his details a second time then they shouldn't have his details to be able to take the money...
MB0 -
Op,
Was it a2zloans.co.uk? If it is it mentions the £57.99 charge right at the top on their homepage (but not other pages) even though they contradict themselves on their FAQ's where it states;Do you take a fee?
We do ask for a small fee to cover our processing costs so we won't limit our search. However we only charge the amount of £54.99 compared to other loan sites charging £60 or even £70+. We believe in treating customers fairly while providing the best service possible.
Their refund page contradicts themselves again as it states;Cancellations and Refunds
Cancellation of Membership
We charge a fee up to £57.99 for providing the service of acting as a finance broker. By proceeding with your application you are agreeing to pay our processing fee. We specify the fee as part of our communications with You. If You do not enter into a loan offered by a lender or financier within the 3 months We act for You, We will refund your full administration fee minus £5 as stated in the Consumer Credit Act 1974. Refunds must be requested in writing at customerservices@a2zloans.co.uk to avoid repayments being sent to a wrong address. In the event that your card is declined, we will attempt take payment on that same card as many times as we desire for up to and including 60 days after you made your application. If you wish us to stop trying your card please inform us by post or email.
Cancellation
Under the Financial Services (Distance Marketing) Regulations 2004 you have a right to cancel your application within 14 days of receiving these terms and conditions and receive a refund. If You wish to cancel your application, You must write to us. In this event We will refund your fee within 30 days of the date on which We receive your written request to cancel your application. Any such requests should be made to: a2zloans.co.uk, Unit 4, The Beeches, Beech Lane, Wilmslow, SK9 5ER.
I hate these brokers... *spit*
MB0 -
Monkeyballs wrote: »No, he's saying that he gave A-Z Loans his bank details and then later spotted the bit about a £57.99 fee - the Op has held his hands up to this but is saying that £59.99 has also been taken by 'therightloan4u' despite not giving them his details.
So unless the T&C's state that A-Z Loans have the right to pass on his bank details and he''s definitely NOT given his details a second time then they shouldn't have his details to be able to take the money...
MB
Right you are, my bad.0 -
paydayloanfighter wrote: »Rightloan4u is a trading name of Nouveau Finance - one of the same and Nouveau Finance is actually the company you're dealing with. However, it must be said that I have since received a full refund.
And yes, I applied for a loan through Wonga as I have used them in the past and found them very useful. They aren't as expensive as the others and if paid back on time (which I always have) they do exactly what they say on the tin.
However, they have since sold my details on (confirmed - not speculation) and numerous loan brokers have had a chunk out of my bank account. It is not just me who has had this happen to them, it doesn't take much searching to find hundreds of other people who have been robbed in a similar way.
You can all have your opinions, call me stupid, whatever. However, I know what I did, I know what has happened and I know who is to blame and it certainly isn't me.
There will be some people out there who have found this post useful as the same has happened to them. A number of people have already messaged me to ask for the number as they too require refunds. If you don't find this post useful, thats fine, just don't post! Don't clog up the feed with unhelpful comments that users who need the real information will have to wade through to get the facts.
Lets be honest, nobody has been robbed in the literal sense of the word. I can guarantee that the larger, more reputable PDL's do not sell your details to brokers to allow them to take a fee, it's very possible they sell your details, but unless details are provided to the broker then no fee can be taken. Every time, people seem to forget mentioning that extra company they gave details to, or the cold call they answered and have their card details too...
When you take a PDL, mostly with any company, you will be bombarded with e-mails, texts and phone calls, all apparently guaranteeing you a loan, you provide details to 'receive' the loan, and subsequently are charged a fee as nobody bothers to check T&C's.
Brokers exist because people who need money so quickly don't bother to check any small print, and unfortunately that means they get away with it.
I don't think brokers should be banned, I simply think this country needs to be more educated (not derogatory in any way). Simply, people should be introduced to the basics of finance while in school, so they are better informed to make the right decisions in the future, until then people will take advaantage and gladly accept your money for doing nothing.0 -
Brokers exist because people who need money so quickly don't bother to check any small print, and unfortunately that means they get away with it.
I don't think brokers should be banned, I simply think this country needs to be more educated (not derogatory in any way). Simply, people should be introduced to the basics of finance while in school, so they are better informed to make the right decisions in the future, until then people will take advantage and gladly accept your money for doing nothing.
Hi,
Sorry I disagree here, you've basically said that they exist to take your money and do well because customers don't read their T&C's.
There is absolutely no reason whatsoever for payday loan brokers, if someone needs and can afford to pay one back then they have a whole host of mainstream "reputable" payday lenders they can go to.
I suspect a lot of people who use them are either unable to borrow from mainstream PDL's because of past history (I.e. the PDL won't touch them again as they already owe money) or are totally new to the market and hear scaremongering about mainstream PDL's and think a broker adds some sort of 'layer of protection' which is just rubbish.
Casual borrowers who use places like Wonga once and repay it and then borrow again 6 months later and use them as intended wouldn't ever (or so I hope) entertain a broker who they've had appear totally at random when they Googled "bad credit loans".
They exist to take your money and make more money by passing your details to other lenders - totally unnecessary.
Regulate Payday lenders and ban Poor credit loan *spit* brokers.
MB0 -
Monkeyballs wrote: »Hi,
Sorry I disagree here, you've basically said that they exist to take your money and do well because customers don't read their T&C's.
There is absolutely no reason whatsoever for payday loan brokers, if someone needs and can afford to pay one back then they have a whole host of mainstream "reputable" payday lenders they can go to.
I suspect a lot of people who use them are either unable to borrow from mainstream PDL's because of past history (I.e. the PDL won't touch them again as they already owe money) or are totally new to the market and hear scaremongering about mainstream PDL's and think a broker adds some sort of 'layer of protection' which is just rubbish.
Casual borrowers who use places like Wonga once and repay it and then borrow again 6 months later and use them as intended wouldn't ever (or so I hope) entertain a broker who they've had appear totally at random when they Googled "bad credit loans".
They exist to take your money and make more money by passing your details to other lenders - totally unnecessary.
Regulate Payday lenders and ban Poor credit loan *spit* brokers.
MB
Agree, if someone can't get a payday loan from one of the dozen or so, well know companies, then their credit status must be below horrendous, so it is definitely time to say, ok game over.
I'm not sure if there is such a thing as a decent loan broker.
There seems to be 2 types of brokers
1/ The best of a bad bunch of brokers, the ones who charge a fee, but do actually then source a payday loan or a loan that isn't anywhere near what was asked for i.e you ask for £3000, they offer £1,500 at 59.9%. They don't generally then pass on the info, for other companies to take further fees.
2/ The other type, who take the fee, then just pass customers from pillar to post, while all their affiliates take fees as well.
Definitely strongly regulate Payday loans, but certainly don't ban them IMO also.0 -
Monkeyballs wrote: »Hi,
Sorry I disagree here, you've basically said that they exist to take your money and do well because customers don't read their T&C's.
There is absolutely no reason whatsoever for payday loan brokers, if someone needs and can afford to pay one back then they have a whole host of mainstream "reputable" payday lenders they can go to.
I suspect a lot of people who use them are either unable to borrow from mainstream PDL's because of past history (I.e. the PDL won't touch them again as they already owe money) or are totally new to the market and hear scaremongering about mainstream PDL's and think a broker adds some sort of 'layer of protection' which is just rubbish.
Casual borrowers who use places like Wonga once and repay it and then borrow again 6 months later and use them as intended wouldn't ever (or so I hope) entertain a broker who they've had appear totally at random when they Googled "bad credit loans".
They exist to take your money and make more money by passing your details to other lenders - totally unnecessary.
Regulate Payday lenders and ban Poor credit loan *spit* brokers.
MB
I'm not suggesting their service is useful, I'm saying the only reason they are here is because people who feel the need to borrow money instantly don't bother to check anything, and therefore pretty much hand over money to them.
Another point, the majority of brokers have several trading names, and will therefore have a clause where details may be passed between them to increase your chance of finding a loan. This is where extra fees are incurred.0 -
The best, and only sensible way, is to stay away from firms like Wonga, other PDL's, and all these brokers etc., - they are sharks, who treat customers like mugs. :wall:
All of these companies sell customer details (although not usually any bank details), the same way utility companies etc., etc., sell mailing lists.
Ignore all offers.
Never, never give out bank details to anyone offering loans, that way you cannot and will not end up losing money.
Either save up, borrow from family or open a credit union account - that way, you will not be ripped off.
There is thread after thread on here - either no loan or extortionate fees and bank accounts being raided.
Lin
You can tell a lot about a woman by her hands..........for instance, if they are placed around your throat, she's probably slightly upset.
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Hi paydayloan fighter. I have the exact same problem today!! Tried taking out a loan over the weekend and 59.99 has come out of my account. Did you get ur money back? Also could u pass on the telephone number for me please. Do you have any advice for me? For example I don't like the fact he has my details!!!0
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