bentley cooper loans

emmajenny

hello to all, i am new to the site, i applied for a loan through a company called bentley cooper, who offered me a loan at a good intrest rate and monthly payments, i agreed to it and then received a letter from them to say that i need to pay a one of fee for £99.99, which i did, i then recieved a phone call from a company offering me a loan at 61% apr and much bigger payments, i called bentley cooper and asked them what was going on and they said they passed it on to one of there other lenders, i explained that i didn't wish to go ahead with and was told to send them a letter to inform them of this, and a refunded would be issued back to me in 21 days after receiving the letter. They received the letter on the 2nd june and on the 30th june it made it 21 days, have made a number of telephone calls to them and each time have been told something different. I was told that the refund had been issued and would take a further 3 -5 days, on the nerxt telephone call i have been told i am looking at the 27th august. which i am not impressed about. I have a copy of there letter which states on the back that a refund will be issued withing 21 days of receiving a cancellation letter.
What can i do any one got any advise to help me.

Sorry so long winded.

and thanks to anyone who can help.

Fergie76

Look at the Yes Loans thread, plenty of advice in there.

emmajenny

thank you.

Tubbss

heree we go again...... when will people stop been suckered into these dodgy brokers who charge a £99 processing fee!

wigwamman

URGENT!! I used to work for this company and was moved to the company next door "1st Money Direct". They claim to be a different company but are completely the same with the same managers/staff. Both these companys will take your card details claiming to do a security check to prevent fraud and put you on hold then take AS MUCH MONEY AS THEY LIKE! They do not offer you 8.4% apr like they claim, it is a massive con!

Do not use this company for anything! I can not stress this enough, I handed my notice in after a couple of weeks because of the things I was asked to do. (also not been paid for the work I have done).

fenhenderson

Same story sadly,
Desperately needed a loan which was agrees on phone they took my card details for the one off admin fee, though said this would NOT be taken until I had signed and sent back the paperwork.
They took it straight away. The 'paperwork' was a single sheet detailing the 'deal' and that a lender would contact me.
I was never contacted, I gave up ringing for a refund after writing and spending nearly £50 on phone calls just trying, thought I would just cut my losses, though I am going to call trading standards and reports the b******s.

DO NOT USE BENTLY COOPER

lesson is learned

jojo1964

Tubbss wrote: »

heree we go again...... when will people stop been suckered into these dodgy brokers who charge a £99 processing fee!

Funnily enough, not everybody in the country subscribes to MSE, and there are thousands who will be "suckered" it needs to be brought into more public readership.

Enfieldian

jojo1964 wrote: »

Funnily enough, not everybody in the country subscribes to MSE, and there are thousands who will be "suckered" it needs to be brought into more public readership.

Broker advance fees have been publicised on Watchdog and in the papers.

A Google search of the company will lead back to forums, like this one, which will give plenty of information.

Oh, the companies Terms & Conditions will also usually state that the company is a broker, not a lender and will charge an up front fee for introducing a lender.....

If the public DON'T do their research or read the conditions properly, what more can and should be done?

jojo1964

And what of the refusal to return fees paid up front, which appears to go against T&Cs, or itroducing the customer to companies quoting far higher APRs than they were led to believe they would be offered.

Enfieldian

Those are two separate issues.

Firstly, the law allows brokers to wait up to 6 months before refunding an arrangement fee. The complaints from people that they can't get a refund a usually because they have not read this part of the T's & C's either, however I agree that based on the speed with which the fee is taken then a refund should be just as quick coming back the other way, however this would not be practical from an admin point of view.

Second, brokers are not privy to all of their associated lenders interest rates and therefore can only quote a "typical" competitive looking rate. Even lenders themselves will often advertise their rate as X.X% APR (Typical)... Tesco and Sainsbury are great at this, it is only a select few that will get the lowest possible rate upon application.

jojo1964

They were behind a string of companies including The Loan Supermarket which took so-called broker's fees of £40 to £500 from would-be borrowers desperate for some extra cash.
But out of 10,000 applications, only 71 resulted in a loan.

http://blogs.mirror.co.uk/investigations/2010/06/can-you-trust-bentley-cooper-f.html

I assume that in this case it was nothing more than a scam.