Anyone heard of Horizon Finance??

Sol00

My brother got a letter from this lot advising that they had an application passed from another company (he can't remember what company this might be), and that they have pre-processed his application and 'feel sure that we can accept you for an instant cash loan.'

The letter then goes on to say 'we want to arrange a loan for you of anything up to £5000. Please call us now on 0906 400 1912.'

Firstly - should a company he hasn't applied to be processing any of his information?

Secondly - If they have 'pre-processed' his application, surely they would know what they would offer him and there would be no need to call a premium rate number?

Thirdly, and perhaps most disgusting, is the fact that they charge £1.50 per minute to find out if he has been 'lucky' enough to get this loan. They advise that calls will not last more than 15 minutes! :mad:

Anyone else heard of this kind of fishing?

Rafter

Not unusual,

When your brother applied for the original loan, in the small print it would have allowed them to 'sell' the application to a loan broker if he was unsucessful.

They will offer a horrible APR and as you say, charge you a fortune just for the privilege of finding out whether you can get a loan.

If your brother has been declined for a loan, he should try to work out why before reapplying anywhere - get hold of credit record, make sure he is on the electoral roll etc.

R.

Enfieldian

Chances are the first company he spoke to, the one that referred his details, also charged him an application fee?

Welcome to the world of modern, legal scams and cons.

Sol00

Thanks. I've told him to check his credit file but I think it's fell on deaf ears lol.

He's not interested anyway and we just ripped the letter up, but no doubt there'll be more in the post.