1 month loan....

lyndsay1986

hiya

my husband applied for a payday loan through 1 month loan on the 5/1/11.

he logged on yesterday and says he has been accepted and there is a repayment date ..but he has not recieved funds into his bank. He has emailed them but not replying and ringing cant get through!

anyone had the same problem ??

CHR15

Why not give them a call?

They seem expensive (moreso than the norm anyway) although I haven't looked in any depth.

I've seen Wonga posts where borrowing £100 leads to a repayment of £119.

This company costs £30 for your £100 loan.

1.4 If a collection attempt on your due date is declined we may use the debit card details provided, or any other card details previously provided on your account to make further attempts. We will not take more that the initial capital lent to you plus the initial agreed interest at this time and a £12.00 charge at this time. We can make attempts as often as we like in any size transaction until this amount has been collected. You should be aware that this may not clear your debt.

This little peach is worth bearing in mind, if you fail to repay on time they can (and will) steam into your account to grab as much as they can. If your bank allow it, it will push you over your overdraft with some nasty consequences.


Interesting reading over on CAG

http://www.consumeractiongroup.co.uk/forum/showthread.php?177994-1-Month-Loan-Unscrupulous-bottom-feeders

Here is a typical example of someone who has not read the T&C's but merrily signed anyway only to complain afterwards.

Yes, i too have found them to be terrible! They too have taken money out of my account without permission.