Son been conned.

poppasmurf_bewdley

Good news. My sons authority for me to act on his behalf arrived from Afghanistan today so I've been to his bank (HSBC) who told me that he was overdrawn on the three occasions this firm tried to take the £69.75 out. I explained that my son thought he was getting a quote for a car loan and had asked for his bank details for verification of his identity.

No problems, said the man at the bank. I'll cancel his card immediately and issue a new one SO THE FIRM WILL NOT BE ABLE TO TAKE ANY MONEY FROM HIS ACCOUNT. (Bank managers own words).

USM

From what I've read here in previous posts it's not quite that simple. Cancelling the card won't have any impact if he has given the company continuous payment authority to his bank account.

pimento

HSBC will charge him £25 each for those three times if he's gone over his overdraft limit.

triticale

http://power-loans.com/terms.aspx

6. Termination or Cancellation of Membership
6.1 A Member may terminate or cancel their membership within 14 days of inception by:
6.1.1 Requesting cancellation in writing to the following address: PowerLoans.com, 1 Liverpool Street, London, EC2M 7QD
6.2 We reserve the right to terminate or cancel this Agreement at any time.
6.3 Entitlement to access, make use of or benefit from, the Membership including the Credit Reporting Service shall cease.
6.4 With regard to payments set up by Credit or Debit Card, if Your payment declines we will attempt to take the payment from the card until we are notified that You wish us to cancel such attempts. Written confirmation may be required.
6.5 We reserve the right to vary or change at our discretion the descriptor showing on the payment statement provided by your payment card provider.

meer53

USM wrote: »

From what I've read here in previous posts it's not quite that simple. Cancelling the card won't have any impact if he has given the company continuous payment authority to his bank account.

USM is correct, your son (or you now) needs to contact this company as soon as possible, i think cancelling with them won't get him a refund though, just no further debits.

poppasmurf_bewdley

USM wrote: »

From what I've read here in previous posts it's not quite that simple. Cancelling the card won't have any impact if he has given the company continuous payment authority to his bank account.

The Manager was confident no payment will go out of his account now the card has been cancelled.

pimento wrote: »

HSBC will charge him £25 each for those three times if he's gone over his overdraft limit.

He was only once overdrawn but that's when the attempts to take the cash were made.

meer53 wrote: »

USM is correct, your son (or you now) needs to contact this company as soon as possible, i think cancelling with them won't get him a refund though, just no further debits.

I'm sending them a letter tomorrow by recorded delivery (complete with forged signature).

david39

It's a similar set up as Yes Loans and they do refund the fee and cancel the membership if you notify them in writing within the specified time frame. However, they will not do so unless you comply exactly with the cancellation terms - most people fall down on not putting it in a written letter (send emails, try to do it by phone/email) which get Yes Loans off the hook.

ILW

Get their address and when he gets back, pay them a visit with a few of his (trained killer) workmates.

redcard

ILW wrote: »

Get their address and when he gets back, pay them a visit with a few of his (trained killer) workmates.

Sounds like his mummy or daddy would take care of that for him

ReadingTim

poppasmurf_bewdley wrote: »

I'm sending them a letter tomorrow by recorded delivery (complete with forged signature).

And you're calling them con men?!?