The Loan Centre Warning!!!!

iolanthe07

It bewilders me you are merrily stamping your account details and sort code to any old random site which asks for it, it's like lending your cashpoint card out to strangers in the pub.

Not really. Account details and sort code are printed clearly on every cheque you write and can be seen by anyone. Cashpoint cards need a pin number to be any use to fraudsters.

Apples2

iolanthe07 wrote: »

[/I]Not really. Account details and sort code are printed clearly on every cheque you write and can be seen by anyone..

Agreed but I only give cheques out to people who I intend paying money to (back in the old days anyway!), I don't hand them out as business cards.

Apples2

Are you from Essex?

No I don't work in the Financial Industry, but if I did, I certainly wouldn't work for any of these broker scammers.

I don't think you quite get my point of view, I dislike them as much as you, but I can see where they confuse you into giving them money.

All the info is there, as are messages on here, for all to see, sadly people continue to jump right in without taking precautions.

I'm not concerned what you think of me, but others will search out this company before giving any details out, my posts, along with others will inform them of the scam which awaits.

If you had read the T&C's you would have seen there is a FEE, this fee is payable at INCEPTION, that means the beginning, the point where the condom breaks if you like. As SOON as the have your details, you become a member for 1 Month. This is why you were congratulated.
You became a member the SECOND they had your details.

It should have been your first question to them, "How much is the fee?", you should have asked this BEFORE giving your details to them.

If you want to cancel your memebrship, all the details are again, in the T&C's, do you want me to find that info out for you?

.

bryanbukowski

I think what seems to be the main bone of contention with many of the people responding to you Lucy Loo, is the fact that people are very quick to throw around comments like "THEIVES" and "SCAMMERS", when obviously these companies cannot exist if they operated in an illegal way. Its be proven that these fees are being shown, I think the conversations that need to take place is what action can be taken to ensure these brokers do more to make these fees clearer, for people who might not look so intently as others. Get our heads together and try and persuade these companies to be a little more transparent.

Saying that, I do know a number of brokers that I know of that are making theses steps, things like sending me a text when I've agreed to pay something. That's what we want.

PhylPho

Bryan: yours is a laudable effort to smooth troubled waters, and appreciated for being exactly that. But the way the world is today, your faith that:

"these companies cannot exist if they operated in an illegal way"

is misplaced. Companies can operate in an 'illegal way'. And they do. They're set up on the basis of an estimate of how much they can rake in before either (a) the cash dries up because of consumer awareness / hostile publicity or (b) prosecution by the relevant authorities.

As (b) is as rare as hen's teeth, (a) is the primary consideration. And scammers have a pretty good idea of how many suckers they can pull in before the suckers awake to the fact that a con is going on.

As to your comment:

"I think the conversations that need to take place is what action can be taken to ensure these brokers do more to make these fees clearer"

no such conversations should be needed. Ethical brokers abide by professional codes of conduct. No conversation on here or anywhere else will miraculously transform the unethical into the ethical.

The outfit discussed in this thread is an 'advance fee' operation which, unless I've misread posts on here, charges for a service of which there's no proof it ever provided.

It could just as easily charge for its services *after* brokering a successful loan application. But it does not.

Treating such an enterprise as though it were amenable to civilised discourse and reasoned argument is daft. It knows exactly what it is doing without any guidance from MSE.

legsa1

I discovered today whilst checking my bank account that £69.95 has been debited by loan-centre.net
On typing it into google, this thread came up. I just wanted to let you know how I got on and what happened.
I emailed the following to; help@loan-centre.net, tom@loan-centre.net, enquiry@nostrumgroup.com at 16:28

"( Please note that "you" or "yourselves" is referring to "loan-centre.net". )

I recently enquired with yourselves for a payday loan online.

Upon checking my bank account, it has been noted that "loan-centre.net" has debited my account of £69.95 on 10/12/2010.

I was, and continue to be confused and disappointed as to why this amount was taken.

I am aware that you (loan-centre) take a membership fee, however the suggestion on both your Terms and Conditions and during the application process, is that upon completing and securing a payday loan, a fee is debited. I believe this to be misleading and deceptive.

"We provide a variety of services by phone, internet, mail and other means through a membership programme. In return for these services, You agree to pay a fee at inception which incorporates membership for one month"

There is no reference on your site as to the membership fee amount, or further costs.

I have sought advise and am therefore asking that;

My membership is cancelled with immediate effect.
The money withdrawn from my account is refunded in full withing 14 working days.

If no contact is made from yourselves by either email or phone within 72 hours I will proceed to seek further advise, that may result in legal action.

I look forward to your reply in regards to this matter. "

I got this reply at 16:33 - 5mins later.

"Nicola, Dec-13 16:33 (GMT):
Thank you for your email in regards to your Loan Centre membership fee.

This payment was taken from your account as agreed as a one off membership joining fee when you completed the on-line application.

As stated on the website when you joined, we don't charge this fee upfront and as promised, the fee is only charged after we have found you your first recommended Lender and Loan.

The membership fee is clearly stated on the second page of your application into which you input your card details. You would not have been able to proceed if you had not ticked and agreed to the terms and conditions.

You have the right to cancel your membership. To do so you must contact us within 14 days of agreeing to the terms and conditions on our website to receive a refund.

We accept your email as confirmation of your wish to cancel your membership and we agree to refund your initial membership fee back on to the card that you paid with.

To complete your cancellation in full we require your authority in writing. You must print and complete the attached 'Cancellation Authority' form. Once completed please send to Loan Centre at the address below.

On receipt of your ‘Cancellation Authority’ form we will fully process your cancellation and refund the initial membership fee within 30 days.

'Cancellation Authority' forms must be posted to:

Loan Centre, 46 Alexandra Street, Southend On Sea, Essex, SS1 1BJ.

Please make sure that you complete the form in full and input all information correctly. Incomplete or incorrectly completed forms may prevent us from processing them effectively."


I'll be sure to send them this cancellation form by recorded delivery ASAP.

Hope this helps.

Hax

Just so you know, when this thread first came up, I started a "dummy" application and agree with the advice you were given that the membership fee is clearly shown on the page where you entered your card details. See my post earlier in this thread for a screenshot: Click-me

Glad you're getting your money back in accordance with their terms and conditions.

Moral of the story: read the webpages fully before entering your card details. And when entering those details, make sure you know why and how much you are going to be charged BEFORE you enter them - then there are no nasty surprises

Apples2

Worth posting again Hax.

Good to see the truth about these things where posters shout about having ZERO knowledge of any fee.



It even says the repayments are estimated. Kind of blows the statement that everything was confirmed out of the water.

David_32

zutonia wrote: »

The circumstances around my entrapment was when I applied for a payday loan.

The site I was using was a filter site which lures you to enter your details including your banks sort code and account number , then when you click next, it takes you to the loan-centre site which asks for your card details.
In my book that is a scam.

Couldn't have put it better myself......

geordieracer

David_32 wrote: »

Couldn't have put it better myself......

Well hello there and how the Devil are you David? Long time no see.

What you been up then?