FLM Loans

robert0

Hi Barnsley 2010 - before you sign up you may want to try and alternative to FLM given some of the commnets you will see here.

An example would be http://guarantorloansonline.co.uk

there are a couple of other small new guarantor loan providers, however their APRs are all similar to FLMs but may give you a better service.

TWINKLE-STAR_6

hi everyone, joined a while ago but havent posted much, thought id come back and get to know the site and all of you

i took out a loan with flm afew years ago, roughly 2 years ago i think, basically i had some bad credit from when i was a lot younger and couldnt get another loan due to this. i found myself in a horrible position a few years ago when my neighbours house set fire and spread to mine. luckily we was not in that night as we was visiting my auntie, i had a new baby and what could of happened is unthinkable.

i got the loan from flm to move house and buy the basics, to me they were a god send because we had nothing and i never had any problems with them, i paid it off early and they was fine with that. without them i would of been left with nothing and probably living in a crappy bedsit with a baby until i managed to get a deposit sorted.

if you can get a loan from a company that charges less interest then that would be your best bet, but if you are forced to get one from flm or another high interest company just make sure you can pay it and your not going to leave your garentor to pay off your debt.

TWINKLE-STAR_6

just realised i hadnt posted at all lolm that was my first post, so hiya all, ive been lurking but not chatting , promise to talk more x

naomi1989

I have an FML loan and I got this as I dont have bad credit, I just dont have any credit. I need to start somewhere!
A family member went guarantor as they know I can afford the repayments. I only got a small loan as its not about the money, its about trying to build my credit.
FML has been brilliant and there are no hidden costs or charges.
I repay what I was quoted in the first instance. I am very pleased to be given the chance to have a loan to prove to creditors that I can and will pay back money borrowed.
If the reason you want a loan is for similar reasons, dont be greedy and only borrow what you can afford.
Then if you pay on time, eventually you will be able to obtain credit without the need of a guarantor. And, repay your guarantor for doing what they have done for you.
Its all about trust and responsibilty!

Apples2

And how much has it cost you to "rebuild your credit file?"

How much did you borrow and how much are you repaying?

You could have used a credit card and not paid anything in interest to achieve the same goal

lee1985

naomi1989 wrote: »

I have an FML loan and I got this as I dont have bad credit, I just dont have any credit. I need to start somewhere!
A family member went guarantor as they know I can afford the repayments. I only got a small loan as its not about the money, its about trying to build my credit.
FML has been brilliant and there are no hidden costs or charges.
I repay what I was quoted in the first instance. I am very pleased to be given the chance to have a loan to prove to creditors that I can and will pay back money borrowed.
If the reason you want a loan is for similar reasons, dont be greedy and only borrow what you can afford.
Then if you pay on time, eventually you will be able to obtain credit without the need of a guarantor. And, repay your guarantor for doing what they have done for you.
Its all about trust and responsibilty!

Why is your DOB on your profile as August 5th 1985 when your name is Naomi1989 suggesting you're 21?

Also, you don't happen to have any connection with FML loans do you?

Mogger

Don't know if this thread is still revalent given it's age but I could not help but contribute.
Just my opinion but please if you can find a loan elsewhere then do because I have had terrible dealings with this firm.
Basically, I stood guarantor for someone (never again) and everything was going smoothly until said person missed a payment. He was late paying because he had recently had a new card issued and this was not on their file, a simple error. Once this happens they are stright on to the guarantor's back. Texts, emails and then instant payment from my account without giving us a chance to sort this out.
I have had a time when a payment was missed and we both ended up paying the repayment because they had taken the money out of both accounts, then you have to try and get your money back.
The emails and texts they send are rude and condescending to say the least. e.g. "When we arranged this loan for YOU, you did promise to pay it back didn't you?"
This type of message is sent to you before you even know a payment has not been made therefore giving you no time to sort it out.
It feels like when a payment has been missed, they will go all out to get the money even if it means they take out more than they should. I got a text saying that I must pay NOW because the card on file is not working and next day when I went to pay online it said that it had been paid, so if I had have been bothered to pay that night it could have gone out twice. I don't trust them at all.

Like I said, just my opinion and I understand some people may not have a choice.

I could go on and if anyone has any questions please ask.

CHR15

Mogger wrote: »

Don't know if this thread is still revalent given it's age but I could not help but contribute.
Just my opinion but please if you can find a loan elsewhere then do because I have had terrible dealings with this firm.
Basically, I stood guarantor for someone (never again) and everything was going smoothly until said person missed a payment. He was late paying because he had recently had a new card issued and this was not on their file, a simple error. Once this happens they are stright on to the guarantor's back. Texts, emails and then instant payment from my account without giving us a chance to sort this out.
I have had a time when a payment was missed and we both ended up paying the repayment because they had taken the money out of both accounts, then you have to try and get your money back.
The emails and texts they send are rude and condescending to say the least. e.g. "When we arranged this loan for YOU, you did promise to pay it back didn't you?"
This type of message is sent to you before you even know a payment has not been made therefore giving you no time to sort it out.
It feels like when a payment has been missed, they will go all out to get the money even if it means they take out more than they should. I got a text saying that I must pay NOW because the card on file is not working and next day when I went to pay online it said that it had been paid, so if I had have been bothered to pay that night it could have gone out twice. I don't trust them at all.

Like I said, just my opinion and I understand some people may not have a choice.

I could go on and if anyone has any questions please ask.

I think what you have described suggests you had absolutely no idea what role the guarantor plays in this situation.
It wasn't a character reference you were giving, you were putting yourself forward as the responsible applicant who would ensure the repayments were made on time, every time.

No lender would take your friend on as they knew it was probable the repayments would stop.
Nobody (and I mean nobody) gives a monkeys what the reason is, nobody cares about bank cards, redundancies, bereavement...nothing. All they want is their money back.

You are dealing with a Company with zero customer service, their typical customer is one who avoids repaying debts. It's a Zero tolerance approach. The gloves don't come off, they never even put them on!

You won't find a good word about acting as guarantor on here.

Hindsight is great but what you SHOULD have done, is to get a loan yourself in your name and give your friend the cash.
You would have had a much better interest rate so would have cost less overall and you would have avoided all this hassle as you would have been the one making repayments.

The Board generally insults anyone looking for someone to act aas guarantor for them....with good reason.

beechy85

I am considering applying for a loan with FLM loans as me and my wife seperated 4 months ago and she cancelled all direct debits from the joint account we had so payments bounced and now i am in debt to 3-4 companies and am wanting 1 loan to cover the whole lot rather than pay a debt management company £300 to sort them for me as i can easily afford the payment to Flm and more each month to get the loan paid quicker with less interest charged and get my credit score back upto something decent.

I am going to ask my mum to garuantee the loan, and before you say she cant get the loan out in her name at the moment as she has just changed jobs so its all a bit red tape with her bank at the minute and i am wanting to boost my own credit score as one day i would like to own my own house!

barbarawright

beechy85 wrote: »

I am considering applying for a loan with FLM loans as me and my wife seperated 4 months ago and she cancelled all direct debits from the joint account we had so payments bounced and now i am in debt to 3-4 companies and am wanting 1 loan to cover the whole lot rather than pay a debt management company £300 to sort them for me as i can easily afford the payment to Flm and more each month to get the loan paid quicker with less interest charged and get my credit score back upto something decent.

I am going to ask my mum to garuantee the loan, and before you say she cant get the loan out in her name at the moment as she has just changed jobs so its all a bit red tape with her bank at the minute and i am wanting to boost my own credit score as one day i would like to own my own house!

PLEASE ask your mum to read this thread. [TEXT DELETED BY FORUM TEAM] The first missed payment (problem with direct debit, you forget a payment is due on a bank holiday etc), the money will come out of her account [TEXT DELETED BY FORUM TEAM]. There is absolutely no way FLM will help you get out of debt. If you are finding it all too much, get advice from the DFW boards - there HAS to be a better way than this.