Money Essentials - Scam

sandra_ely

I am soooooo cross with myself for being taken in :mad: I am a nearly divorced person, trying to sort out the chaos of a near financial ruin from my ex, my car died just before christmas, it is past repair I applied online for a loan recieved a call from this company, paid the 'admin' fee never to recieve any money or papers or call backs I am fuming that I took my eye off the ball and paid them, I cant get the money back from my bank as it is a visa debit card not just a visa card so I have lost out
still got no car, walking to work! and shopping delivered good job cardiff bus runs a good service to my area, just wanted others to be aware of the scam - i realise it has been on here before, didnt even know this site was here until I put money essentials into google.... you live and learn

KingElvis

You'll probably be able to reclaim your money chick, you have to check the terms and conditions very carefully and follow them to the letter. They then have very little choice but to refund you.

The terms and condition will be on their website.

Don't let these sharks rip you off.

SnowTiger

sandra_ely wrote: »

I am soooooo cross with myself for being taken in :mad: I am a nearly divorced person, trying to sort out the chaos of a near financial ruin from my ex, my car died just before christmas, it is past repair I applied online for a loan recieved a call from this company, paid the 'admin' fee never to recieve any money or papers or call backs I am fuming that I took my eye off the ball and paid them, I cant get the money back from my bank as it is a visa debit card not just a visa card so I have lost out
still got no car, walking to work! and shopping delivered good job cardiff bus runs a good service to my area, just wanted others to be aware of the scam - i realise it has been on here before, didnt even know this site was here until I put money essentials into google.... you live and learn

Hmmm. Just looked at their website which contains this:

"Money Essentials are an unsecured loan provider in the UK. We provide loans from £500 - £15,000 (depending on your circumstances)."

But, of course, the T&Cs give the game away: they're just another scamming loan broker.

I think Money Essentials is sailing very close to the wind by using statements such as "Money Essentials are an unsecured loan provider in the UK" and "We provide loans..." when they are just a broker.

BackOnTrack

How long ago did you apply for this. From the terms and conditions (http://moneyessentials.co.uk/terms-conditions-loans-unsecure.php) it says this regarding the fee you pay:

(10) Fee’s - We charge a fee for providing the service of acting as a finance broker. We specify the fee as part of our communications with you. If you do not enter into a loan offered by a lender or financier within the 6 months we act for you, we will refund the fee less the £5 brokerage fee provided for by the Consumer Credit Act 1974. Refunds must be requested in writing to avoid repayments being sent to a wrong address. To facilitate us processing payments and repayments you authorize us to retain your charge, credit and debit card details. If a lender or financier makes you a loan or finance offer, in addition to the fee we may also receive a variable commission from the lender or financier (more detail is available on request) and you agree that we may retain it.

Write them a letter and get your fee back.

twigs72

I have the same problem been trying to get the money back but as yet nothing surely they cant get away with this ? there must be somewhere we can go to to fight the case ??

poppasmurf_bewdley

Don't fall for them retaining a £5 fee.

Write to them Recorded Delivery stating that they have taken the money by false pretences (what they said to you on the phone) and that unless you receive the refund IN FULL within 21 days you will complain to the FSA and the OFT. Complaints to those two organisations will costs the company a lot more than refunding you your cash.

Don't phone, don't email. Use Recorded Delivery.

Don't let this company get away with it.

camuk81

https://forums.moneysavingexpert.com/discussion/2160041

Just found this link hope it can give some advice

greglisa

My partner has just been scammed by these people. He spoke to them to explain and specified to the broker what his circumstances were and what he required in great detail, they have only sent payday loans or loan companies that require a guarantor. My partner called them and cancelled the service and then found that 4 days later £79.00 had been taken from his account. he called them and explained the situation but they said that they would need to forward his email to the accounts department and when they have received the email they would contact him in 48 hours. Guess what still waiting. I have explained to them that my partner is on Disability Living Allowance and cannot afford to lose this money. They dont care at all. I will write a letter to them and explain the situation again. I am not prepared for scammers like this to continue. I will keep on at different points of contact. This is not right for them to take advantage of people. They exploit everyone.
I hope noone uses these people as they will have money taken from their accounts without a service being provided.