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NIZ Financial - any advice???

Leeesa
Leeesa Posts: 4 Newbie
in Loans
Hi, I'm new to this but I think I may have been conned. I have been looking for a loan and searched through a link from the web. I received a call from NIZ Financial. As soon as they mentioned that I had to pay a fee of £150 i refused. He was very persistent and admittedly had caught me unaware. He reduced the cost to £99.99 and the rate I got was very good particularly as even though I have a very good credit rating I've been unsuccessful on my last couple of applications.
Anyway, after giving my card details and thinking id got a good deal I viewed their reviews online and was pretty horrified. Out of 10,000 applications apparently only 71 go through. I queried them on this and they assured me that it is from people who hadnt been completely honest in their applications. I cannot believe that as the questions were pretty basic.
Next week, they have asked me to send my bank statements and utility bills and my loan will be processed. My bank couldnt stop the payment going through so i've lost the £99.99 no matter what.
Has anyone heard of these guys or had any experiences with them as im not sure what to do now quite frankly. To take a chance or not.
Any advice would be extremely appreciated x
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Comments

  • owitemisermusa
    owitemisermusa Posts: 954 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Do they have a cancellation/refund policy?
    Tough times never last longer than tough people.
  • Leeesa
    Leeesa Posts: 4 Newbie
    I did keep saying that to him, but he said once id been approved the money would be taken as it was all going through. Which if that was the case would be fine. He kept saying because of all the PPI business that has gone on, this is their way of getting round the paperwork of it all. Its only when i reviewed them later that I realised I might have a problem
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If they do not supply you with what you ordered (LOAN) then they have broken their end of the contract and you can get most of your money back.
    If they do not refund you write to them by registered post asking for your money back - if they refuse or ignore you (LIKELY) then go back to your bank and start the chargeback process.

    It will be a long and stressful process - don't give up and they can keep £5 by law.

    One last thing - forget about loans for now.
  • Apples2
    Apples2 Posts: 6,442 Forumite
    Leeesa wrote: »
    after giving my card details and thinking id got a good deal I viewed their reviews online and was pretty horrified.

    That's the best way round to do it!!!

    If you are already mixing with these people forget entirely about getting a loan, it isn't going to happen, no matter how much you need one.

    When you DO get around to trying again, research the company first, before even speaking to them,

    If they ring YOU, it is a scam,

    If they guarantee you a loan, it's a scam

    If they ask for your bank details to process the loan, it's a scam

    If it isn't a well known high street bank/company, it's a scam
  • owitemisermusa
    owitemisermusa Posts: 954 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Apples2 wrote: »
    If they ask for your bank details to process the loan, it's a scam

    If it isn't a well known high street bank/company, it's a scam

    Out of curiosity, when you apply for asset finance (high street bank finance arm), do you need to supply your bank details for the credit application/scoring? I thought that was needed to perform the credit check?

    Thanks.
    Tough times never last longer than tough people.
  • Leeesa
    Leeesa Posts: 4 Newbie
    Thank you for all your advice. Just one thing, people keep saying to forget about a loan. Do you mean forget getting a loan from these NIZ guys or from anyone? My credit rating is spotless. Ive never missed any payments on any loan.
  • CHR15
    CHR15 Posts: 5,193 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    If you ahave good rating go to your bank. Avoid any type of broker
  • amberlily
    amberlily Posts: 1 Newbie
    i paid niz £250 for a pre approved loan that after 1 month did not materialise, then they wanted me to do my own search after they just kept on throwing alternative sub prime lenders at me i own my own house no debts and in full time work, will be going the get my money back route just to be annoying now
  • Apples2
    Apples2 Posts: 6,442 Forumite
    amberlily wrote: »
    i paid niz £250 for a pre approved loan that after 1 month did not materialise,

    Are you sure they weren't asking YOU for a loan??
  • deancrack
    deancrack Posts: 1 Newbie
    hi, can you tell me if you was successful with you loan with niz finance
    thank you
    dean
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