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    • abishek
    • By abishek 13th Jul 17, 12:02 PM
    • 1Posts
    • 0Thanks
    Scammers alert: loans
    • #1
    • 13th Jul 17, 12:02 PM
    Scammers alert: loans 13th Jul 17 at 12:02 PM
    I had applied for a loan from low rate loans for a sum of £700, they then called from India and said I would need to pay £87 which is 1 month upfront as my credit score is bad and they want to know that I can afford to pay it so I did. Then another person called saying he was the manager and asked me to pay another £149 and they will refund it and send me £849. This was for corporate tax purposes apparently which is when I pulled the plug. I told them I wasn't told this before I paid £87, the guy told me my loan will be in my account within 15 mins of paying £87 but then said they were unaware that I had to pay £149 due to my credit score and their system wouldn't allow them to process payment unless I paid in more. They did not accept a card payment over the phone, so I had to make a Bank transfer payment which means I can't now get my money back. They are regulated by Financial Conduct Authority and their website looks perfectly fine. It is a sister company of Quint Ltd based in the UK. These guys have many sister sites, and have already conned others with the same tactics. When I finally found their number and called them they are trying to tell me someone cloned it and it has nothing to do with them. I find it hard to believe that this same BS has happened on many occasions under different names!

    Why have they not been shut down yet. Complained to Action Fraud and the Financial Conduct Authority, who have started an investigation. Hopefully this is the end for these scum.

    Mad as hell
Page 1
    • zx81
    • By zx81 13th Jul 17, 12:22 PM
    • 14,871 Posts
    • 15,698 Thanks
    • #2
    • 13th Jul 17, 12:22 PM
    • #2
    • 13th Jul 17, 12:22 PM
    Rule #1.

    Lenders lend you money. You don't lend it to them first.

    People will fall for this until the end of time.
    • Shakin Steve
    • By Shakin Steve 13th Jul 17, 1:20 PM
    • 1,202 Posts
    • 898 Thanks
    Shakin Steve
    • #3
    • 13th Jul 17, 1:20 PM
    • #3
    • 13th Jul 17, 1:20 PM
    Low rate loans? Hmmmm.......should change it to no rate loans, because no one ever actually gets one.
    I came into this world with nothing and I've got most of it left.
    • PeacefulWaters
    • By PeacefulWaters 13th Jul 17, 3:07 PM
    • 7,537 Posts
    • 9,425 Thanks
    • #4
    • 13th Jul 17, 3:07 PM
    • #4
    • 13th Jul 17, 3:07 PM

    Mad as hell
    Originally posted by abishek
    Absolutely insane to try and borrow in such a manner.
    • venison
    • By venison 13th Jul 17, 8:38 PM
    • 1,479 Posts
    • 1,614 Thanks
    • #5
    • 13th Jul 17, 8:38 PM
    • #5
    • 13th Jul 17, 8:38 PM
    <shakes head>
    I am a BG on loans,credit cards and benefits I volunteer to help get your forum questions answered and keep the forum running smoothly". Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to Any views are mine and not the official line of
    • DCFC79
    • By DCFC79 13th Jul 17, 10:37 PM
    • 30,598 Posts
    • 19,352 Thanks
    • #6
    • 13th Jul 17, 10:37 PM
    • #6
    • 13th Jul 17, 10:37 PM
    Nothing new there OP, you need get more up to date on the other scams around.

    OP any lender or broker who says they need x amount of money to progress the loan, dont do it.

    Why did you not approach your bank ?

    Maybe you need to consider looking at your spending and cut back.
    Last edited by DCFC79; 14-07-2017 at 8:18 AM.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • SnowTiger
    • By SnowTiger 13th Jul 17, 11:51 PM
    • 3,135 Posts
    • 2,113 Thanks
    • #7
    • 13th Jul 17, 11:51 PM
    • #7
    • 13th Jul 17, 11:51 PM
    LowRateLoans is a credit broker:

    LowRatesLoan is promoted by Monevo Ltd and acting as a credit broker, will receive a commission direct from the lender or broker we introduce you to, Monevo Ltd trading as Monevo.
    Basically, they collect punter's details and sell them on to bottom feeding 'lenders' and, oddly, other brokers.

    Calls from Indian call centres asking for money rarely end happily.

    OP will likely be on a suckers list now.
    • 27cool
    • By 27cool 19th Jul 17, 5:51 PM
    • 258 Posts
    • 199 Thanks
    • #8
    • 19th Jul 17, 5:51 PM
    • #8
    • 19th Jul 17, 5:51 PM
    The mere fact that they mentioned your "credit score" should have set off warning bells. Because you are the only one who can see this fictitious number.
    Perhaps you should be asking someone to explain the basic facts about personal finance before you fall for yet another scam.
    Did you at no time think that it was strange, that a firm you were trying to borrow money from, was asking you to send them some money.
    • worried jim
    • By worried jim 19th Jul 17, 6:33 PM
    • 8,860 Posts
    • 13,573 Thanks
    worried jim
    • #9
    • 19th Jul 17, 6:33 PM
    • #9
    • 19th Jul 17, 6:33 PM
    Why don't people just call their bank (or go online) and say "I'd like to borrow £700 please"- how hard can it be?
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • Robisere
    • By Robisere 19th Jul 17, 7:16 PM
    • 1,991 Posts
    • 2,798 Thanks
    Sometimes the whole "NEWBIE ALERT" notification, is completely ignored by responders here.

    No one can tell, from the OP's post, how desperate they are for money. OP gave this post as information, having already learned a big, expensive mistake. abishek, please check all your emails thoroughly, you may be on a "suckers list" as SnowTiger says. I advise changing all your passwords ASAP, beginning with your email address(es), which you should also change.
    There may be more than one way to skin a cat.
    But the result is always inedible.

    • minitrail
    • By minitrail 27th Sep 17, 3:42 PM
    • 3 Posts
    • 0 Thanks
    ha I did a search for a low rate loan today and found this thread, which I read out of interest.

    I cannot post links due to being a new user myself but have a search on Google for

    Low Rate Loans (clone of FCA authorised firm)

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