unsecured bad credit loans/ wentworth finance / flm

sindydee

Hi all

Thought I would post my recent experience on here in the hope that it may help and inform some of you.

In my current situation I have got my self into a mess with 3 payday loans and a small outstanding e-on debt. This doesnt amount to much debt probably about 2k, but have found myself in a constant robbing peter to pay paul situation every month that is making me very depressed.

I have poor credit and know I have oustanding CCJ's so knew that finding a loan would be difficult. But rather than go to my father again for funding thought I would try and sort out this situation on myself.

I came across wentworth finance who wrote to me asking me for £59 brokerage fee and when I spoke to the lady there she assured me they would be able to help and said I would have my money within as little as 7 days. So I paid my money who then put me in touch with another broker - ralph marlon. I may be mistaken but it appears that wentworth are just a company that takes the payment on behalf of ralph Marlon.

Anyway.... a week later I get a letter from Ralph Marlon saying that they have found me a lender. FLM. 54% interest rate, need a guantor with their own home, who has good credit.

Researched this company, and the guy that owns it is worth 77 million and is being investigated by trading standards.

The thing is, I found this company on myself by using google a month ago which I obvioulsy dismissed straight away. I didnt need to pay £59 for someone to tell me about this company.

I think what I am trying to say is, please dont pay your money to these people. All the companies they use can be found on the internet and contacted directly.

It know its very frustrating and depressing when no one will lend you money, but the £59.00 I paid (which I am asking to be refunded) is money I could have used to put towards these debts.

I saw an interesting post on here yesterday on another thread that mentioned a credit union agency, whom i contacted yesterday. This company are based in numerous areas and are there to help the local people with money. They lend money based on your expenditure and what you earn and the interest they charge is 1 - 2% per month, its worth checking them out.

So in the end my kind best friend is helping me out, so at least I now have a solution to my problem.

I'm not saying that wentworth or flm will not be able to help you, but they promise false hope to people that they might not be able to help that are desperate.

Even after reading lots of different forums, I still ( like an idiot) paid my money (that I had to borrow) and after 3 weeks am in a no different situation to what I was then (only £59 quid lighter).

Sorry If I have rambled on a lilttle bit, but this is my first post on here and just thought that I may be able to help someone and save time, money and heartache.

sally

suektc

Thank you for posting this. I am in the same situation and have received an application pack from the 2 companies. I was very scared to proceed when they said that I have to pay £59 administration charge so I was holding on to the letter. Your letter has just confirmed my fears and the letters will be shredded tonight. So now I am still looking out from a loan of £3k but will not be able to get it fom any bank!

Enfieldian

What is this broker fee that you mention?

None of the other 40,000 threads on this exact same subject have mentioned it at all.

Especially not the 5,000 new threads this week alone.

suektc

The £59 broker's fee is for Wentworth. The FLM one is not mentioned in the letter but is pre-printed in the form. I think it is the same fee. I will check again tonight.

hayleyo

I did the same with Wentworth direct finance, they called me and said that the loan has been approved and that it will be with me in 5-10 days. A lady called to take a payment of the £59 then another lady called, i advised i'd paid already but she inmsisted it hadnt been taken, i checked my bank online and nothing had gone so i paid. Then a few days later 2x£59 had been paid to them through my bank.

I wrote to inform them i wanted a refund of the £118. It states in their T&Cs that you can cancel within 14days for a full refund and 6 months -£5 admin fee. I have so far received £59 and have wrote to them again today to ask for the other £59. They failed to provide me with a loan, i got the same offer as you did, (need a gaurantor blah, blah blah) i might as well get a friend or family member to get me a loan.

I would advise that you dont go near them in the first place but if you need a refund just keep writing and send proof of the payment made, this does go back and forth alot and i think the staff cant read letters but you should get there in the end.

ks2009

I have just reported Wentworth Direct finance to Watchdog. Please report them to stand a chance of maybe getting your money back. They are fraudsters, I was promised i had been approved for a loan at a rate of 15.2%, paid the £59, then got details of a loan at a rate of 59.8% and for £2000 less thatn i had already been 'approved' for. They scan all the phone numbers that you call from regarding your account and dont answer to you again, you will be kept in a queue sumtimes for over an hour to reach number 1 and then get cut off. They can also get your phone number if you with hold it, which im sure they are not allowed to do. There is a few addresses for them, i have been to one of the offices and it is another company, they also have numerous phone numbers. PLEASE report them

swankypants

hayleyo wrote: »

I did the same with Wentworth direct finance, they called me and said that the loan has been approved and that it will be with me in 5-10 days. A lady called to take a payment of the £59 then another lady called, i advised i'd paid already but she inmsisted it hadnt been taken, i checked my bank online and nothing had gone so i paid. Then a few days later 2x£59 had been paid to them through my bank.

I wrote to inform them i wanted a refund of the £118. It states in their T&Cs that you can cancel within 14days for a full refund and 6 months -£5 admin fee. I have so far received £59 and have wrote to them again today to ask for the other £59. They failed to provide me with a loan, i got the same offer as you did, (need a gaurantor blah, blah blah) i might as well get a friend or family member to get me a loan.

I would advise that you dont go near them in the first place but if you need a refund just keep writing and send proof of the payment made, this does go back and forth alot and i think the staff cant read letters but you should get there in the end.

they did the same to me i recieved 2 phone calls and was told the 1st payment hadnt been made but when i checked my bank 2 x 59 pound payments had been taken. the 2nd payment i made was because i was told that they ahd found me a loan and the girl even told me that she had the credit agreement there and was just waiting for my signature and £59 payment. a week later i then get a letter off a different company askin for my details so basically wentworth just lied to get me to pay the £59. i have tried to get in contact with them and they keep saying there is nothing they can do i need to ring head office so i did only to be on hold for 1 hour and 40 mins then it just cuts you off when you get to number 1. I have now heard stories of people who have been to the address they were given to send letters to and there is a different company there. can anybody help with my situation as i have the feeling i am going to get nowhere by just sending them a letter on my own. if you have sent a letter to them and recieved money back please could you give me the correct address

sefton

sindydee wrote: »

Anyway.... a week later I get a letter from Ralph Marlon saying that they have found me a lender. FLM. 54% interest rate, need a guantor with their own home, who has good credit.

So basically they are prepared to give the loan to someone else with a good credit rating who if they took it out themselves would get a much much better deal with another lender.

Klarss

sefton

ks2009 wrote: »

I have just reported Wentworth Direct finance to Watchdog. Please report them to stand a chance of maybe getting your money back. They are fraudsters, I was promised i had been approved for a loan at a rate of 15.2%, paid the £59, then got details of a loan at a rate of 59.8% and for £2000 less thatn i had already been 'approved' for. They scan all the phone numbers that you call from regarding your account and dont answer to you again, you will be kept in a queue sumtimes for over an hour to reach number 1 and then get cut off. They can also get your phone number if you with hold it, which im sure they are not allowed to do. There is a few addresses for them, i have been to one of the offices and it is another company, they also have numerous phone numbers. PLEASE report them

I'm sure there is something in their small print that says they are just brokers and all you have been approved for is their trying to get you a loan for the amount you want at the rate of 15.2%.

I remember reading somewhere that they are not legally able to charge you more than about £5.00 and have to rfund the difference if you complain. I'm not sure if that is correct though

CHR15

sefton wrote: »

I remember reading somewhere that they are not legally able to charge you more than about £5.00 and have to rfund the difference if you complain. I'm not sure if that is correct though

That is correct, although the procedure for getting the difference back is notoriously difficult (as you can imagine) but alas, still achievable if you are persistant.

Just be careful only to make contact by registered post, it seems some people going down this route spend more on phone calls waiting on hold than the £40-50 they ever stand to recoup.

buzzby

Hi

Instead of starting a new thread, I thought I'd post on this existing thread.

I foolishly spoke to Wentworth Finance last week, before reading about them, and they told me everything they seem to have told everyone else.

The difference is I didnt have the £59 in my account on the day for them, but thedy said they could take it when I get paid,(27/11). Now they have my card details to take this payment. I have since phoned them yesterday to cancel the payment with them as I no longer need a loan. They have said that it has been cancelled. But reading through some peoples posts, I dont really trust them to not take the payment.

I phoned my bank (Abbey) and they said theres nothing they can do, and its down to the company I gave my details to.

Does anybody have any advice on what to do, I could cancel my card tomorrow buts I dont really want to go down that route.

Many thanks

Chris