Easy Finance LTD?

CautiousPaul
CautiousPaul Posts: 19 Forumite
I have been offered 5000 over 5 years with a good repayment, but there must be a catch as my credit history is awful.

They say they through Elephant Loans, and they are the lender not the broker yet they are asking for £50 admin fee to release the docs?

Any info on them please? The money is needed and this is manageable, but dont want ripped off!!!
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Comments

  • iluvmarmite
    iluvmarmite Posts: 589 Forumite
    Elephant loans went into liquidation in 2008, so scam for sure, and I would expect Easy finance ltd would take your money and not find you anything. Hope you havent paid anything as you wont see any money in return.
  • bengalknights
    bengalknights Posts: 5,021 Forumite
    Part of the Furniture 1,000 Posts
    AS iluvmarmite states most likely a scam
  • SnowTiger
    SnowTiger Posts: 4,461 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I have been offered 5000 over 5 years with a good repayment, but there must be a catch as my credit history is awful.

    They say they through Elephant Loans, and they are the lender not the broker yet they are asking for £50 admin fee to release the docs?

    Any info on them please? The money is needed and this is manageable, but dont want ripped off!!!

    Tell them you'll pay their broker fee after you receive the paperwork and have been offered a loan.

    If they don't trust you, why should you trust them? :rotfl:
  • Apples2
    Apples2 Posts: 6,442 Forumite
    edited 11 May 2011 at 9:08PM
    Anyone asking you for money first is a complete scam.

    There website is practically an admission of the scam.
    Easy Finance provide a wide range of services and in some cases acts as a finance broker working directly with a wide panel of lenders and financial companies or banks. If you have been declined for loans, mortgage or are under pressure of managing your debts, then our range of financial solutions offer a wide range to our choices and our personnel and financial advisors can provide the right advice to suit your situation. We process all cases in confidence and efficiently and effectively. Our solutions are directly linked to a wide selection of lenders and financial companies to enable us to pass information immediately further improving our efficiencies and our level of customer service

    http://www.telepest.co.uk/01612179712
    They claim to be loan brokers but are not legit. be careful with these guys.
    Their other phone is 01613580340 which noone answers after they take £49.99 to arrange a loan and your bank details. be warned and be very careful.
  • CautiousPaul
    CautiousPaul Posts: 19 Forumite
    Thanks guys, i will avoid!!!!
  • geoffky
    geoffky Posts: 6,835 Forumite
    paul avoid them all..you will lose out in the end.
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • I have just been scammed by this company! I asked to borrow 5000 over 3 years and stupidly paid the admin fee!

    Unsurprisingly I cannot get in touch with anyone form the company now. Any ideas how I can retrieve this admin fee. Are they likely to take anymore money from my account.
  • Jimbo88 wrote: »
    I have just been scammed by this company! I asked to borrow 5000 over 3 years and stupidly paid the admin fee!

    Unsurprisingly I cannot get in touch with anyone form the company now. Any ideas how I can retrieve this admin fee. Are they likely to take anymore money from my account.


    Try explaining to your bank and see if they can do a charge back on the card. Also ask them to cancel the card.

    Do it immediately.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • Try explaining to your bank and see if they can do a charge back on the card. Also ask them to cancel the card.

    Do it immediately.

    Thanks for our reply, I paid the admin fee by credit card and not using the bank account for which I want the loan to go into. However I returned the forms with the bank details included but not heard anything since.

    Very stupid I Know. I have already contacted the bank to stop any money being transferred to Easy Finance LTD.

    I will try the credt card company to see if they can do anything about the admin fee.

    I am very annoyed at myself for being so naive, not usualy like me. the sales team were very clever.

    DO NOT USE THIS COMPANY!!
  • Reesy1981
    Reesy1981 Posts: 126 Forumite
    Theyre clever to get your money!
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