Welcome loans ltd

creeping_jesus

So, I am kinda desperate for a bit of money, just £2,500 over 24 months. However I get offered £5000 over 12 months from welcome loans, but I have to give them £69.95 as a fee for processing the application. I went through yes loans to start with, didnt pay them any money and I got sent this today.
First up, is this a scam?
Second, as I don't want £5000, and probably cant afford £467.97 a month to pay it back, can I not ask them to lower the amount?
Any feedback to this is greatly appreciated.

Apples2

It's a scam.

If you are dealing with this type of "lender" (ha ha) over your own bank, you are not going to get a loan of this amount.

CH27

It's a scam.
Do not give them the time of day.

KingElvis

All they'll do is take whatever cash you have, steal it and leave you even more miserable than when you started.

creeping_jesus

Thanks guys, really appreciate it

MRSWISHYWASHY2

:mad:ITS A BIG FAT SCAM..SWEETIE.just been taking to someone on-facebook.com the scammers page..who has just been scammed..from the same company..and yes loans have took money out her account..over 60pound then told her she cant have aloan..also beware of cash finance..they say good news about your loan..money in your account today..then tell you to ring this number and change you loads and loads of money then say no..I've been getting the same text message for months now..and its always from James or Emma..cant get rid of them..lol and I've never asked for a loan from them..

aimingforadebtfreelife

When you say you didnt give them any money did you ever mention your bank details or debit/credit card number and was told it was for ID purposes etc??. If so check your bank account in the next day or so and be prepared for a struggle to get your money back.

creeping_jesus

No I don't remember giving any details, and anyways I use a empty account when looking around for credit cards and loans, and if it tries to take money out I'll be damned if I have to pay any bank charges.

widdop44

I did a similar thing to this, was short of money and in a moment of madness filled out their small online application to see what i could get. As soon as i saw the charge to receive the loan i came to my senses and left the site immediately. I haven't accepted any loans and did not give my account details. However I do get a lot of texts and a few emails offering me various loans and saying i can follow a link to get them or text REPLY or STOP etc to cancel. I have no plans to accept and loans. Have i stopped in time or is there anything else i should do? It says in their terms and conditions to write if you need to cancel an application, should i do this or is this only for people who have accepted a loan?

Apples2

https://forums.moneysavingexpert.com/discussion/3746929