FLM Loans - amount on statement more than loan

fiendishlyclever

Last year I stood as guarantor for an FLM loan. I noticed when I was filing statements that the amount on the statements starts from £3300 and goes down month by month.

I checked my statements and FLM paid out £3000 (well £2970 because of the CHAPS fee).

This seems to indicate that my friend either needs to have his loan statements recalculated or FLM owe him some cash.

Has anyone else experienced similar problems and what sort of resolution should I be looking for?

mikeandrach_2

i think they may well charge a £300 arrangement fee, so this is probably the loan plus the fee

fiendishlyclever

mikeandrach wrote: »

i think they may well charge a £300 arrangement fee, so this is probably the loan plus the fee

Having read the forums on their site it could be a broker's fee. Left it for my friend to investigate.

£300 a shot for passing people who are in dire need of a loan is an easy way to make cash. I think I'm in the wrong profession!

clarence83_2

It is the broker fee, definitely. He must have gone through a broker like Yes loans (eugh), Best 4 loans, etc etc.

Rather than deducting it from the loan amount like most companies, they add it on.

tigga_1961

i was getting texts to remind me they was due to be paid, hell like your gonna forget also got nasty letters from them saying id hung up when i rang themt say payment was day late, when i told him i was using my mobile and almost out of credit, i emailed james benamor the md who got one of his lackeys to look into, didnt do me much good but i vented my spleen and told them to remove mobile numbers as they didnt need them, they said they did even tho they had landline so i threatened them with harrasment and had no more texts thankfully but wud love to get rid of these scavangers once and for all. if i post cca could someone have a look at it please?

pwally2

Hiya Tigga know how you feel they drive me nuts. Was thinking of asking for CCA but dont know if it was pre 2007 cant remember. Also just got post today Wife had loan with A&L on our DMP we have paid them over £600 her letter says we now owe them more than when we started DMP!!! just wondering now wether to cca all her A&L accounts!!! She owes them over £15k in total in loans and credit cards although the cc are now MBNA CCA for them might be interesting!!! Any thoughts?

tigga_1961

i will pm you my thoughts:money:

pwally2

No problems tigga so pee#d off at mo you think youre getting somewhere and then this happens the old adage one step forward 2 steps back so annoying though!!!! I await your thoughts with anticipation!!! If we can bring about the fall of FLM i'm all for it!!!!