Beware ezeloans

[Deleted User]

I am in the same boat as you. I cancelled my account after just 5 minutes. Got the same nonsense emails. On Friday I emailed them to ask if they had received my letter in the post as I sent it away Thursday. Today I received 2 emails again stating that they had taken money from my account. The second letter said if i want a refund please write to them.

They just tend to send the same 2 emails reagrdless on what you email them.

Starting to think I shall never see my money back

Apples2

Stop emailing them and Write to them (send recorded delivery).

[Deleted User]

I did send recorded post on thursday. i emailed them just to ask them if they had received my letter and would refund me my money as they promised. Just like the person here also done. but just like her, i get the same emails.

Apples2

Ah! my mistake, didn't see that bit.

I would wait it our for a while, nothing you receive by email of phonecall is going to be worth anything anyway.
There is no quick win with these companies. Give it 14 days then send a second ensuring you reference the first (with the date) then up the ante.

[Deleted User]

missmolko123 wrote: »

I’ve heard that a lot of people have had problems with this company, so I thought I’d add my story to it.

5 days ago I applied for a loan with them, then as soon as I realised they were a broker and would charge me a fee, I cancelled my application. The next day they took £74.75 out of my bank account.

I checked their terms and conditions, which state that if you cancel within 14 days you will receive a refund.

I immediately emailed them (there is no telephone number to be found), cancelling my application again, and asking for a refund. After a few emails back and forth, they eventually gave me an address to send a letter to, and said I would need to include my reference number. I asked for this, but received no reply. I managed to get hold of the reference number and sent the letter, then emailed yesterday asking if they had received it, with no reply.

I emailed again today to ask if they had received the letter, and had another few emails back and forth, along the same lines as the first ‘you applied for a loan so we took the membership fee’, ‘we have people waiting to give you a loan, log into our website to apply’, etc. Eventually, the last email they sent me stated again that I needed to send a letter to receive a refund!

I am getting no sense out of them whatsoever, and it doesn’t look like I’m going to get my money back. Apparently the address that they give is a Regus managed office, and they confirm that the company aren’t there anymore, yet they are still giving the address out for complaints. It’s important that people know to stay away from them!

Have you had your fees refunded yet? They got my letter in the post last Friday but I still have nothing. I know it says 14 days but just getting a bit worried. Shall keep fingers crossed and wait the other 7 days

a_pedant

My details were passed to Eze Loans by another loan broker, and someone from Eze Loans called me. The person who called represented themselves as a lender calling to set up a loan (i.e. not as a broker) so I gave my details as I am trying to set up a personal loan. Right at the end she started running through terms and conditions that made me realise they are a broker not a lender, so I told them that I did not want to sign up with them and ended the call. Yesterday ( a couple of weeks after this call) I found out from my bank that Eze tried to take a payment for a fee - which bounced due to lack of funds. This gives me 3 questions for those of you who are better informed than me:
1) How do I make sure they can't take money?
2) Who can I complain to about the misrepresentation at the beginning of the call?
3) Is it within the rules for a loan broker to just farm me out to other brokers (I am assuming the original broker will use this to avoid the clause that if they don't get me anything within 6 months I get a refund by saying they got me in touch with Eze Loans)

Apples2

a_pedant wrote: »

This gives me 3 questions for those of you who are better informed than me:
1) How do I make sure they can't take money?

By not giving out your bank details without researching who this company are first.
Seriously, this was some random cold caller but you trusted some faceless waffle enough to give out free access direct into your bank account. These guys could have cleaned you out completely.
You have already given them permission to take money, they might give up if their attempts keep bouncing but they may persist.
You need to read the terms and conditions and cancel your application.

a_pedant wrote: »

2) Who can I complain to about the misrepresentation at the beginning of the call?

Some random stranger lied to you on the phone!
You can try complaining to the FSA, OFT but it would be a waste of time. Nobody is going to stop the telling of lies.

a_pedant wrote: »

3) Is it within the rules for a loan broker to just farm me out to other brokers (I am assuming the original broker will use this to avoid the clause that if they don't get me anything within 6 months I get a refund by saying they got me in touch with Eze Loans)

Normal practice is for it to be in the T&C that your details WILL be passed around unless you specifically opt OUT.
Most of these companies are closely tied though so it is often the same people hiding behind different company names so they have an opportunity to grab even more of your cash.

a_pedant

Apples2 wrote: »

You have already given them permission to take money, they might give up if their attempts keep bouncing but they may persist.
You need to read the terms and conditions and cancel your application.

Except for the part where I clearly told them I did not want to use their services and that I didn't agree to any fees? Also very difficult to read T&Cs that have not been given in writing.

fozmcfc

Your best hope is they stop trying.

If not, you are going to need to make sure no money enters the account otherwise they will have there fee within a day if not a lot sooner.

You can try telling your bank what has happened, but most banks will just say sorry but you gave your card details so you accepted their service, not a lot we can do.

If the bank won't do anything, the only way you aren't going to lose the money, is if

A/ They stop trying

or

B/ As drastic as it may seem, you change bank accounts.

If you look at their website, you will see the T&C's of getting your money back and also who to complain to, but don't expect the money back to be easy as others have found.

Even more shocking is they may continue to attempt to take a monthly fee from you also. See the very first post on the other thread.

https://forums.moneysavingexpert.com/discussion/3153372

Going by what has been said by other users, you could well find that changing bank accounts at least in the short term may be the easiest way of dealing with it.

Finally as blunt as Apples2 can be, they speak a lot of commonsense, never ever give out your details to strangers, again as per Apples2 forum signature, they will take your money whatever is said/promised.

Allan_Bisset

Dunno how useful this will be, but it's based on recent personal experience. I have resolved things as I'm fortunately in a position to "freelance income" my way out of things, but here's a round up of my thoughts on the murky world of Pay Day Loans and the so called bad credit loan providers.

Many people who know they have a poor credit score and have been refused by the mainstream lenders but still need a loan for whatever reason turn almost in desperation to a number of short term sources such as payday loans or the bad credit loan companies. Most of these operators are either sharks or in some cases downright criminally fraudulent. If you’ve been refused by mainstream sources why should these people say “yes”? Answer: to make obscene amounts of cash out of you or scam you into even worse debt.

Payday Loans: there are established names like Wonga that even advertise on the tele and sponsor football teams, so they can’t be that bad, can they? Interest charged by these companies is crippling, often 1,700% – 4, 800%. Many will still perform credit checks and failure to meet the repayments will reflect badly on an already poor credit score. Some give you the opportunity to pay a modest amount of interest one month, then the full amount the following payday and some allow you to “roll over” payments for up to three months. Usually the entire amount of the loan plus interest is demanded in full on the next nearest payday to your application. Others may seem more generous in their payment terms, quoting repayments over a period of six months. Lending Steam for example does so, but if you borrow £215 from these guys you wind up paying £473 back – that’s an astonishing equivalent APR of 4,490.3%! Are they a good solution? Only if you are prepared to haemorrhage cash for the privilege. Don’t take out a payday loan with anyone if at all possible!

Bad Credit loans: thing to remember here is that brokers are not lenders and most of these providers online are merely brokers or front operations. At least three of these supposedly independent brokers will send you to an outfit like FLM, which will offer you a loan of up to £3,000, but demand a guarantor – it’s effectively that person they credit check and score, not you the applicant.

Unsecured or bad credit loan companies that claim to “search the market and lenders for the best deal for you” are merely fronts to sell products from a fixed number of suppliers whom they represent. Usually, they will ask for a fee up front – anything between £60 - £90. Don’t pay it! You’ll never get your fee back and you’ll never see a loan. Some ask you to dial a premium rate telephone number to confirm loan details claiming that you can get a refund on the phone call costs when the loan is approved. Put the phone down on them immediately!

The worst offenders are companies like LoantoLoan UK or iLoans. These are a straight scam! They will ask you for a “processing fee” after assuring you that your loan has been "accepted " and you may even get some promised paperwork through with a form to fill in (although you’ll notice there are no contact details given on the form). That’s the last you’ll see of your pre-paid up front fee and there will be no loan forthcoming this side of hell freezing over.

The good guys: if you are that strapped for cash and know your credit score is bad, try your bank first. Even in these more stringent lending times you’d be surprised how willing they might be to listen and help. If that doesn’t come through for you, then try getting in contact with a Credit Union. These are pretty well established in Scotland and are beginning to become more popular in England.

They take a much more rounded view of the individual's circumstances and ability to pay – you know, like an old fashioned bank manager used to do! They will insist that some of the loan monthly or weekly repayment goes into a savings account on the applicant’s behalf and will probably also discuss budgeting. They have to be more personal and detailed in their examination of your circumstances because it’s not their money they are lending – it belongs to their members and the community in which they operate – but they are not driven purely by credit ratings and in the world of unsecured bad credit finance, Credit Unions are definitely the good guys!