help required for loan with poor history/ccj

complex1968

Hi

I have poor credit history in that I gave a ccj with next for 2000 pound, this is being paid back by monthly installments.

Despite the ccj, I have always paid all my bills and have a car on finance for last 3 years and have never missed a payment. .

I require a loan of 1500 pound, I applied and received call from loans direct who told me they could offer ne a loan and would send out the paperwork. They charged me 49,99 up front fee. After 3 phonecalls as paperwork did not arrive iwas then told it was tfs loans dealing and I should contact them direct which I did. The forms then arrived 2 days later. to my horror they see charging 116% Apr . Meaning paying more than double back.

I then made enquiries of other loan companies and found a company called flm loans who can offer me a loan at 42%Apr if I had a guarantor.

Does anyone know anything about these companies? Are they allowed to charge over the odds?

Are there any companies out there who will give me a chance to build up my credit and allow me a loan at a sensible rate.

Thanks

Fiddlestick

complex1968 wrote: »

Does anyone know anything about these companies? Are they allowed to charge over the odds?

Are there any companies out there who will give me a chance to build up my credit and allow me a loan at a sensible rate.

I don't know much about these lenders, but you have one CCJ and another account that you have already missed one payment on you.

No regular lender is going to be willing to take on such a risky customer when you have a history like that.

B

woody01

Are they allowed to charge over the odds?

Please do not take this offensively, but with your credit history, you won't get anything better.
No mainstream lender with a decent APR would touch you with a barge pole, as you have a history of not paying your debts on time, which obviously is there for all lenders to see on your credit report.

If you can manage without, then i would if i were you, as taking on more debt, with the level of APR you would have available to you, would just compound the problem.

_Andy_

complex1968 wrote: »

.

Does anyone know anything about these companies? Are they allowed to charge over the odds?

A loan company can charge what they want - you're not obliged to go with them.

robert0

If you apply for a loan make sure you don't pay an upfront fee before you are accepted - FLM will probably ask you to do this if you apply through their broker "Loan Finder".

cheekychco

Avoid, avoid, avoid. FLM are also yesloans and so forth. Do a goolge search and you can also search on here and see all the horror stories.

You should never pay a loan agreement upfront. When you hear that, alarm bells should be ringing and you should put the phone down and not give your debit/credit card detaisl out.

cheekychco

See here:

http://news.bbc.co.uk/1/hi/england/dorset/7685783.stm

and

http://www.reviewcentre.com/reviews246998.html

it goes on...

Natcurvygirl

oh no im such a prat ! I applied online earlier this evening on the loan finder website just for a small loan (£700) and opted to pay the fee via my debit card on 15/7/10 (i think?) and then ive read the above comments and im terribly worried ive been back onto the website and tried to find how to cancel my details to no avail , I havent actually received a loan offer yet just an email telling me Yes loans will be in touch within 24 hours !I'm not going to accept their offer at all but obviously I want to stop the fee being paid to them how do i stop it?I did manage to cancel my subscription to their affilliated company Credit xtra as there were cancelation instructions hope that was genuine? the only contact details are an 08444 number an email address and a postal address in bornemouth! I'm going to email them now ! Please can anyone let me know that i can get out of this without any money being taken from my account ?

robert0

Hi - If you threaten to go to FOS and if you dont hear bank then put in a claim to FOS for the fee hopefully it will be returned.

http://guarantoronline.co.uk offer a guarantor loan with no upfront fee (upto 3k) otherwise I suggest you look at payday companies.

paulasx

Natcurvygirl wrote: »

oh no im such a prat ! I applied online earlier this evening on the loan finder website just for a small loan (£700) and opted to pay the fee via my debit card on 15/7/10 (i think?) and then ive read the above comments and im terribly worried ive been back onto the website and tried to find how to cancel my details to no avail , I havent actually received a loan offer yet just an email telling me Yes loans will be in touch within 24 hours !I'm not going to accept their offer at all but obviously I want to stop the fee being paid to them how do i stop it?I did manage to cancel my subscription to their affilliated company Credit xtra as there were cancelation instructions hope that was genuine? the only contact details are an 08444 number an email address and a postal address in bornemouth! I'm going to email them now ! Please can anyone let me know that i can get out of this without any money being taken from my account ?

I also fell for this, they gave me an account number/log in so i could see all my loan offers but they were all payday loans, guaranteed or doorstep credit!
I emailed their customer services and said that I did not want their service, and the loans were not the type I wanted. I asked for confirmation that they wouldnt take their payment on the agreed date and they emailed me back confirming this and never took the payment.
I think I have been lucky, and it was this site which warned me. As it turned out, I have been able to manage without the loan, making me think that perhaps I never needed one in the first place!

Natcurvygirl

paulasx wrote: »

I also fell for this, they gave me an account number/log in so i could see all my loan offers but they were all payday loans, guaranteed or doorstep credit!
I emailed their customer services and said that I did not want their service, and the loans were not the type I wanted. I asked for confirmation that they wouldnt take their payment on the agreed date and they emailed me back confirming this and never took the payment.
I think I have been lucky, and it was this site which warned me. As it turned out, I have been able to manage without the loan, making me think that perhaps I never needed one in the first place!

Thankfully after aweekend of worrying about my original post re this company I've just received an email in response to the one I sent on saturday confirming that they have cancelled my application, removed my details from their records and most importantly I WILL NOT BE CHARGED anything!!! Phew a big lesson learnt here !
I will sort out the money I need some other way and definately only consider reputable companies in the future , I hope everyone else has as much luck
Nat xx