SGE Loans

KingElvis

Burley Road is not an area I would associate with "World Class Companies"....I walk along there everyday.

It's full of small shops and student flats with a healthy sprinkling of tyre fitting places.

Tracyscorey

I have dealt with this company. A very rude man called lewis Sunderland. They said that they were taking £9.99 for a loan fee. They took 79.99.. It cost me more in phone calls but I was determined to get it back. They are the worst company I have ever dealt with. It is my intention to bad mouth them to anyone who will listen.

fbrian75

just had a call made them assure me there was no fee they said none wotsoever gave them my name as freddy kruger and i lived in a house that i knew was knocked down over 20 years ago as its now a morrisons in winsford cheshire!they said were so pleased to tell me they have excepted me and they need 79.99 as security and money would be put into account within 24hrs due to bank roll times!!IF THIS IS NOT A THOROUGH WARNING THEN I DONT KNOW WHAT IS!!AVOID LIKE THE PLAGUE!!

Moleyman69

I would strongly reiterate the comments above - DO NOT touch this company with a bargepole.

They cannot even keep to their own terms and conditions - they state a refund will be made within 30 days of cancellation, but it would appear that unless the BBC intervene (they have been subject to an investigation by 5 live) then they do not bother to refund peoples accounts. I very much doubt that they ever actually provide anyone with a loan, they just seem to be concerned with taking money without authority and keeping it for their own profits.

Steer well clear.

Wutang_2

Moleyman69 wrote: »

I very much doubt that they ever actually provide anyone with a loan, .

:money::money::money::money::money::money::money::money::D:D:D:D:D:D:D:D:D:D:money::money:

DCFC79

Moleyman69 wrote: »

I would strongly reiterate the comments above - DO NOT touch this company with a bargepole.

They cannot even keep to their own terms and conditions - they state a refund will be made within 30 days of cancellation, but it would appear that unless the BBC intervene (they have been subject to an investigation by 5 live) then they do not bother to refund peoples accounts. I very much doubt that they ever actually provide anyone with a loan, they just seem to be concerned with taking money without authority and keeping it for their own profits.

Steer well clear.

Where did you drag the thread from

mikstan

I sent an apllication to this company at the end of november 2011 and when i received my welcome pack I decided to cancel my account with them the same day, i did this twice.
just over 2 weeks later my debit card was charged £69.99.
After speaking with the company through email and phone I eventually was told a refund request had been authorised. 5 weeks later i am still waiting for my refund. When i phone them i get told that there is no managers to speak to and I cannot spaek with the accounts department.
I am so angry with this company, there customer srevice is non existant.DO NOT USE THIS COMPANY you will have problems with them from start to finish

Loans_Scams

Apples2 wrote: »

So did you follow any of those procedures?

For it to be Illegal it would have to be an action outside of the published terms and conditions, I'll save you the grief of clicking the link I posted earlier..





So there it is, it isn't illegal at all. You just fell for some salesman waffle without thinking first.

If that is there terms and conditions they are wrong. According to the Consumer Credit Act 1974 and its amendments. The point of Offer of a loan is not suffice to retain the FEE. A customer is entitled to a refund in full up to the 14 days under DSR ("Distance Selling Regulations") The Consumer Protection (Distance Selling) Regulations 2000

After the 14 days have expired, the company would have to return all but £5 SHOULD THE CUSTOMER DECIDE NOT TO TAKE A LOAN not if it was offered.

This comes under section 155 of the Consumer Credit Act 1974 which says,

155 Right to recover brokerage fees.

(1) Subject to subsection (2A),]the excess over £5 of a fee or commission for his services charged by a credit-broker to an individual to whom this subsection applies shall cease to be payable or, as the case may be, shall be recoverable by the individual if the introduction does not result in his entering into a relevant agreement within the six months following the introduction (disregarding any agreement which is cancelled under section 69(1) or becomes subject to section 69(2)).

(2)Subsection (1) applies to an individual who sought an introduction for a purpose which would have been fulfilled by his entry into—
(a)a regulated agreement, or
(b)in the case of an individual such as is referrred to in section 145(2)(a)(ii), an agreement for credit secured on land, or
(c)an agreement such as is referred to in section 145(3)(b) or (c) or (4)(b).
[F3(2A)But subsection (1) does not apply where—
(a)the fee or commission relates to the effecting of an introduction of a kind mentioned in section 146(5A); and
(b)the person charging that fee or commission is an authorised person or an appointed representative, within the meaning of the Financial Services and Markets Act 2000.

(3)An agreement is a relevant agreement for the purposes of subsection (1) in relation to an individual if it is an agreement such as is referred to in subsection (2) in relation to that individual.
(4)In the case of an individual desiring to obtain credit under a consumer credit agreement, any sum payable or paid by him to a credit-broker otherwise than as a fee or commission for the credit-broker’s services shall for the purposes of subsection (1) be treated as such a fee or commission if it enters, or would enter, into the total charge for credit.

IF YOU QUOTE THEM THIS AND THEY DON'T PAY THE MONEY BACK SIMPLY TAKE THEM TO SMALL CLAIMS COURT YOU WILL WIN.

DCFC79

Loans_Scams wrote: »

If that is there terms and conditions they are wrong. According to the Consumer Credit Act 1974 and its amendments. The point of Offer of a loan is not suffice to retain the FEE. A customer is entitled to a refund in full up to the 14 days under DSR ("Distance Selling Regulations") The Consumer Protection (Distance Selling) Regulations 2000

After the 14 days have expired, the company would have to return all but £5 SHOULD THE CUSTOMER DECIDE NOT TO TAKE A LOAN not if it was offered.

This comes under section 155 of the Consumer Credit Act 1974 which says,

155 Right to recover brokerage fees.

(1) Subject to subsection (2A),]the excess over £5 of a fee or commission for his services charged by a credit-broker to an individual to whom this subsection applies shall cease to be payable or, as the case may be, shall be recoverable by the individual if the introduction does not result in his entering into a relevant agreement within the six months following the introduction (disregarding any agreement which is cancelled under section 69(1) or becomes subject to section 69(2)).

(2)Subsection (1) applies to an individual who sought an introduction for a purpose which would have been fulfilled by his entry into—
(a)a regulated agreement, or
(b)in the case of an individual such as is referrred to in section 145(2)(a)(ii), an agreement for credit secured on land, or
(c)an agreement such as is referred to in section 145(3)(b) or (c) or (4)(b).
[F3(2A)But subsection (1) does not apply where—
(a)the fee or commission relates to the effecting of an introduction of a kind mentioned in section 146(5A); and
(b)the person charging that fee or commission is an authorised person or an appointed representative, within the meaning of the Financial Services and Markets Act 2000.

(3)An agreement is a relevant agreement for the purposes of subsection (1) in relation to an individual if it is an agreement such as is referred to in subsection (2) in relation to that individual.
(4)In the case of an individual desiring to obtain credit under a consumer credit agreement, any sum payable or paid by him to a credit-broker otherwise than as a fee or commission for the credit-broker’s services shall for the purposes of subsection (1) be treated as such a fee or commission if it enters, or would enter, into the total charge for credit.

IF YOU QUOTE THEM THIS AND THEY DON'T PAY THE MONEY BACK SIMPLY TAKE THEM TO SMALL CLAIMS COURT YOU WILL WIN.

Any reason why you dragged up an old thread

Apples2

Loans_Scams wrote: »

After the 14 days have expired, the company would have to return all but £5 SHOULD THE CUSTOMER DECIDE NOT TO TAKE A LOAN not if it was offered.
.

Which is all clearly described in the T&C's I quoted above.

I'm surprised you have enough time to go Cut&Pasting long and tedious replies to all these old posts when you seem so busy applying for as many loans as possible, none of which you would ever repay anyway.