Quick Decision Loans. Broker. Scammer?

mrbecky1

Hiya!
I think I have made a big mistake? I checked my Experian file, then did a quick online general enquiry about a loan on Experian. The next day I got a call from Quick Decision Loans and told them I would like a loan for £6000.I went through all my personal details with them,job etc etc and this took about 15/20 minutes. They told me to wait for a minute and then they came back to me and told me I would qualify for a loan.
They then told me they are a broker, so then asked me for my credit card details so they could deduct a fee of £60.I told them I couldn't, because that would take me over my limit, but I arranged it as a debit at the end of this month from my bank (now is the 28th of May). They told me once the fee is paid, i will receive some forms from them, as well as some forms from a loan company. They told me also, there is an no obligation process and I can get a refund of the fee if I am not happy. I am getting concerned I could be scammed?

Alan

iolanthe07

The overwhelming advice on this board is never, ever pay any sort of up-front fee for a loan. No decent lender will ask for one. Brokers make their money from commission paid by the lender (which ultimately we all pay for). Any broker who asks for a fee from you as well is to be avoided at all costs. They say you can receive a refund, but these are notoriously difficult to obtain in practice, according to very many posts here.

mrbecky1

Thank you for your reply!
Do I have time to stop this payment from my bank, even though it is now nearing the end of the month? The arrangement was made 6 days ago?
I assume, I will have just as a better chance if i applied for a loan personally?

Alan

iolanthe07

If you act quickly you should be able to stop payment or cancel the card (tell them it has been lost and then cut it up - they will issue a replacement very quickly). Perhaps someone will come along soon who has actually experienced dealing with these people - I am only going on what I have read here over the last few years. The consensus seems to be that you usually do get offered a loan, but often for a far smaller amount than you asked for and at a usurious interest rate. You can search for loans yourself, but do be aware that multiple applications will affect your credit score. Sometimes you can assume you've merely asked for a quote, and then find that searches have been made on Experian and Equifax. Your own bank is the place to approach first.

mrbecky1

Interesting opinion and thanks.
I would like to hear of others experiences regarding loan brokers and the company Quick Decisions loans?
What's your general knowledge of loan brokers? Do they hardly ever obtain a loan or are they usually quite successful?
My problem is, even though I have a credit card and the payments are up to date for the past year, my credit history isn't perfect, so obtaining a loan via my bank etc could be extremely diffciult?

dukey

mrbecky1 wrote: »

Interesting opinion and thanks.
I would like to hear of others experiences regarding loan brokers and the company Quick Decisions loans?
What's your general knowledge of loan brokers? Do they hardly ever obtain a loan or are they usually quite successful?
My problem is, even though I have a credit card and the payments are up to date for the past year, my credit history isn't perfect, so obtaining a loan via my bank etc could be extremely diffciult?

I did almost exactly the same thing with these people. I called and was very demanding of a refund (not shouty but I made sure they knew I was serious). I spoke to a lady called Meg in their refunds department and had my money back within 4 days.

LynneC_3

I think I made a big mistake, I looked online for a loan and this so called company said yes, asked for a £55 handling fee and said the loan company would send forms, when I checked my bank later I saw they had taken £55 twice and using Paypal. Tried to phone them but was put in a queue of 30+, I rang again and asked to be put thought o someone NOT in a queue but they refused and I know form ringing them previously that you can be in a queue for over an hour. AND when I checked the forms from the lending company it was ONLY provisional not as Wentworth had said ie accepted.
I only need a £1000 but where do I get a reasonable deal, I did check my bank but their APR is 21%

liverpoolboi

I had a similar experience. i soke to someone about a loan and was promised one within 7 days. nothing became of this so i asked for a refund. after several calls i was put through to 'Tyron' who managed to get this back in my account in a few days. i would not recommend this company to anyone!

Bazhammer

I have just dealt with these people through Experian.Complete rip off.They took all the details accepted me I paid 69:95 and thought that was it? Received a stupid ludicrous quote two days later for a whopping 59% APR .One year longer than I asked.I immediately asked for a refund !!!! in process apparently.I also cancelled my Experian.Do not use this QDL at all costs.

TMPilot

I'm glad I just found this. I have just been "approved" and charged £69.95.
I will await the documents but after hearing you guys, I'm sure I will need a refund too.
My loan was £5,500 over 5 years, and they said £140 a month. I couldn't really understand her, but I think what she said was an "example".
Other than that, £140 a month didn't seem too bad. Less than 20% interest which is acceptable under my circumstances.

Thanks for the tip-off.

TMPilot

Well I got a letter today, confirming everything that was said on the phone, asking for a signature and another £69.95. I doubt I will get a decent loan from what I've heard, so after 20 mins on hold I got £64.95 back. It didn't seem too bad, no argument needed and they were polite about it. I think as I hadn't yet signed anything they had no choice.
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