Please stay away from flm loans

Needamiracle_2

MSE Official Insert:

Don't take out a Payday loan unless you've read our Payday Loans guide first.

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I foolishly agreed to be a guarantor for a family member for FLM Loans. Please do not go near this company! They will harrass you, phone you, [TEXT DELETED]. Refuse to discuss any financial hardship with a Counselling Service. They insist they will take you to court when under 25 days late with a payment [TEXT DELETED]. The employees are rude and unmoveable. Please research this company before taking on a loan especially if you are a guarantor and don't touch them with a barge pole. They make it very easy and enticing to get a loan but if, God forbid, you find yourselves in situations beyond your control they are relentless.:eek:

trish62

i recently applied for a loan through loanfinder.co.uk. They keep forwarding me to flm. Fortunately I do not hae a guarantor. Thanks to your post i will stop trying to find one. I hate the fact that i know all i need is a loan to get myself on the straight but because I have fallen into this debt trap companies are willing to make life even more miserable. I will certainly tell flm where to go...Or I would if they ever put a phone number on there correspondance

pwally2

Hi needamiracle,

I can echo your frustrations with FLM. I took out loand with them my partner was gaurantor they are a nightmare!!! Text messages constant phone calls refuse to except DMP with CCCs although they told us to get in touch with them!!! They even took money out of my wifes account when that account was supposedly closed and bank say there isn othing we can do!!!!

Stay well clear of FLM loans ( I applied through Advantage Loans)

Needamiracle_2

Hi, yes FLM are an absolute nightmare. I cannot tell you how much I hate them - and thats a strong word for me! [TEXT DELETED BY FORUM TEAM] refusal to listen, [TEXT DELETED], even though you speak to them. We gave them a date when my family member was going to pay 6 times and they still harrassed on a daily basis. [TEXT DELETED BY FORUM TEAM] I am at my wits end as guarantor. I would give anything to go back in time and refuse to be guarantor. My own fault I guess as I did not have the sense to check them out. Big lesson learned but the damned hard way. Is it any use writing to the FSO?
:mad::mad::mad::mad::eek::eek::eek:

Apples2

What on Earth did you guys think you were a guarantor for??

You agreed that WHEN the applicant stops paying, they could take the money from you instead.

This should have been straight forward. The applicant stops paying (as FLM knew he would) so they simply take the money from the guarantor monthly.

Are you guys saying that as guarantor, you didn't realise they could take this money, or you didn't have enough spare cash each month to cover the payments?

If you don't have the spare cash each month, why on earth did you offer to be a guarantor for the payments??

The requirement for a guarantor was to avoid all this constant hassle for payments and maintain regular payments toward the loan.

Or have I got this all wrong??

Needamiracle_2

Thanks for the sarcasm but you know that sometimes things go out of control! When I agreed to be guarantor my daughter was in full time work and comfortable. Then she lost her job and I paid the damn money for months! However my own circumstances changed for the worse and I found myself in severe financial hardship. Its not about moaning about being a guarantor - its about the treatment you get from FLM when things do go wrong. All these people who are having problems with FLM cannot be wrong about the way their cases are handled. There is something not quite right about the connections of this Company. They do not need to be so rude or unbending. I am not someone who is trying to avoid responsibility but have been treated like someone who is trying to avoid paying. This is not the case - I just can't.!! Some weeks I can barely afford to eat! My daughter is now in full time work and has consistently given them a date when payments are to be made. Arrears cleared by next week and then regular DD payments. Life happens and sometimes things are beyond your control. Their methods could tip someone less stronger over the edge - that can't be good.

maninthestreet

Exactly what 'Cooling-Off Period' are you referring to? Surely if such a period had existed, it had long since expired when FLM came to you as guarantor expecting you to pay up?

LFCgerrard08

I just applied for a loan with FLM. I was looking online for a loan company for peoplle with bad credit scores and the next day I had about 50 different companies ringing me to take a loan with them. Luck of the draw I went with FLM. I filled in the forms and got my mum to sign as a guarentor. Then they phoned my mum and told her they needed a photocopy of her bank card and they would only pay the money into her account! Naturally, she told them were to go.
Any ideas of a decent unsecured loan company for bad credit scorers?

CHR15

LFCgerrard08 wrote: »

Any ideas of a decent unsecured loan company for bad credit scorers?

Do you mean a decent, low APR loan being offered to people who have not repaid any of their previous loans??

If so, it simply isn't going to happen, can you not see why these companies are not plentiful??

If it is due to a lack of history (as opposed to bad history), your own bank would be your best bet as they can at least see how you manage your money month by month.

jonesMUFCforever

What steps has OP taken to make sure he is getting his money back?
A couple of broken legs would be my first bet!

stevelatimer

I can only echo what has already been said.

I got a loan with them about 6 months ago. What annoys me is there is no flexibility with them at all. I get paid weekly and sometimes I have asked to pay a day late to fall in line with my pay day. They just won't negotiate and take it from Dads account the following day. So I get charged and then have to pay my Dad.

Massive regret and I'm stuck with it for another 4 and a half years.