City Financial Loan Brokers....SCAM or NOT ?

Apples2

seaeaacr wrote: »

I agree but how does anyone find a lender when you are desperate?

You get one of these

https://www.gov.uk/budgeting-loans

If you don't meet the criteria, you aren't really desperate, you just want money .
If you wish to be seen favourably by lenders, you should repay everything you have borrowed along with all the interest on time, every time.

If you start faffing about missing payments, paying late and generally acting the fool, nobody will lend to you.

Give us more details about your position, salary, deebts, credit history etc if you would like advice.

seaeaacr

Apples2,
My position? I have NO loans,NO credit cards, and NO outstanding debets, My wife & I are pensioners and live in rural Wales. We need transport to get to Doctor, Dentist, Shopping, i.e. On Thursday we have to go to Dentist by public transport it is 3 hr. travel, by car it is 40min. My wife needs post Cancer medication and no public transport only a long walk from the nearest bus. That is why some people have to search like this!

Apples2

A lack of credit history is as bad as a bad credit history. Sad but true, the lenders simply look at it in black and white, without sympathy nor compassion.

The lender still requires the loan to be repaid so the applicant needs a suitable income.

Are you sure you are claiming all your entitlements?

addyboy1982

My parents live in rural Wales, luckily they both drive. I have already told them that when the time comes that they both hang up the keys they must move somewhere more sensible with relevant amenities.

Harsh, possibly, but very realistic.

bigadaj

addyboy1982 wrote: »

My parents live in rural Wales, luckily they both drive. I have already told them that when the time comes that they both hang up the keys they must move somewhere more sensible with relevant amenities.

Harsh, possibly, but very realistic.

Same here, however currently no sign of them acknowledging the reality of their situation, even though they are pushing 80.

welshman65

I had a phone call from these con merchants, regarding a loan I applied for, they wanted a £75 upfront fee, i told them, no chance,this company are con merchants, the phone no they used was 01614063010, don,t go near city financial

Gma1

The alarm bells only started to ring after I put the phone down and excitedly waited for the T&C doc to be emailed to me. 30 mins had passed and no email! (I was told it would take about 15 mins for it to arrive) I slowly realised I had just parted with £59.95 over the phone to a lovely lady who promised me that £1,500 would be in my account by Friday of that week! All I had to do was sign those T&Cs and return them ASAP with my signature.!!! They took the last money I had in my account. I rang to ask for a refund and that I did not want a loan anymore, and as I have read in many of the previous posts, the woman was so damn rude, I couldn't believe it, she was like a horrible robot just reapeating "you cannot have a refund, you need to send back the T&Cs. I told her that the first lady I spoke to had guaranteed a loan and had not informed me that City Financial was a broker, to which her reply was "we are a broker you need to send back the T&Cs. The next day I was called by an Indian woman who said they had recieved my application from City Financial (I said I havent event sent back the T&Cs yet) She assured me because I had paid CF that they had passed my details to them and that they were the lenders. All I had to do was give my bank details so they could transfer the funds into my account. As soon as I had given my details, (like a fool) the phone went dead. The woman then rang back and said there's no money in my account, I said I know, that's why I need the loan! She then had the cheek to say even though I didn't have to pay any fees, I have to pay she needed £150 to get the loan, I said I don't have £150.... she then said OK just £20. I could not believe the audacity of this person. I have sent back the T&Cs but will now have to wait 3 months to get my money back. I have very poor credit so I should have realised what was happening, but sometimes when you are desperate, you don't think. The worst thing about this scam is that a while back, I was actually on 'the real hustle', the TV programme that highlights what scams people are up to and their strapline is 'If it's too good to be true, it probably is!!!' I so wish I had researched this company and seen all these posts before I picked up that phone!!!!

Apples2

You can read this thread to understand what will happen.

Bad enough you fell for it but many do. It's remarkable you went on to give out your bank details to even more people afterwards.

With no money, did you have any intention of repaying a loan if you did happen to come across one?

fozmcfc

I would be concerned that they and others may take money from your account as soon as any money goes in, as they have your account details.

In this case it sounds like your details have been passed onto an Indian based scam company. They basically ask for a fee, which some people pay. Then if the person hasn't twigged, they come up with another excuse for a fee, then if the person still hasn't twigged, then they will come up with a further excuse for a fee needed.

Some people don't twig until the 3rd fee is asked for, but luckily you have twigged early enough, so you need to write not email, phone etc, to get your fee back.

In addition, keep an extemely close eye on your account. You may have to get a new bank account. There is every chance, the two companies will try to take more money and anyone else who they have passed your details too.

11yawn44

I applied for a loan from city financial, just had a call from them
Saying you got the loan and wanted £75 processing fee, when I said “forget it” he got very nasty and slammed the phone down.