[HELP]Loan company took funds without permission

CJ_Casanova

new here but a little bird told me you guys can be very helpful.

I was very desperate for money a few days ago that i tried a payday loan so i found a website called loan options and filled in the application form that promised a garenteed acceptance, when i finished it said success and i waited and then it said declined so i thought forget this, said website then decided to take 58.64 from my account, i am just wondering what happens with that, can i recall it ? And what happens after i do? (is there a long wait?) also the card i used belongs to my girlfriend as my bank are currently in the process of sending me a new card

Thank's in advanced
CJ

Mara69

A quick Google shows that Loan Options are brokers that charge a one off fee. A quick look at the Terms & Conditions show this: 'We provide a variety of services by phone, internet, mail and other means through a 30 day membership programme. In return for these services, You agree to pay a one-off fee of £58.54 (This fee incorporates our non-refundable Setup Cost of £28.54 and your Daily Membership Cost of £1.00)'. It then goes on to say 'If you are unsatisfied with our service we can cancel your membership and refund part of your Daily Membership Cost. Your refund amount will be calculated pro-rata based on the number of days that your membership has been active. As stated above this is based on a Setup Cost of £28.54 and Daily Membership Cost of £1 per day. To discuss a cancellation please call us on 0845 519 6834 between 9am and 5pm.'

I'd give them a call, sharpish. You might get some of the money back. Oh and next time, do your homework before offering up all your details for consumption.

~Brock~

Mara69 wrote: »

A quick Google shows that Loan Options are brokers that charge a one off fee. A quick look at the Terms & Conditions show this: 'We provide a variety of services by phone, internet, mail and other means through a 30 day membership programme. In return for these services, You agree to pay a one-off fee of £58.54 (This fee incorporates our non-refundable Setup Cost of £28.54 and your Daily Membership Cost of £1.00)'. It then goes on to say 'If you are unsatisfied with our service we can cancel your membership and refund part of your Daily Membership Cost. Your refund amount will be calculated pro-rata based on the number of days that your membership has been active. As stated above this is based on a Setup Cost of £28.54 and Daily Membership Cost of £1 per day. To discuss a cancellation please call us on 0845 519 6834 between 9am and 5pm.'

That's an interesting and novel way of trying to circumvent Section 155 of the Consumer Credit Act 1974. I would be interested to hear the OFT's view of this. Might even refer it to them myself

poppasmurf_bewdley

Ring them and also write to them recorded delivery telling them that you require full repayment as they have deceived you. Also tell them that unless you receive FULL REPAYMENT you will take the matter to the FSA and the OFT.

And next time, please read what you are signing up for.

Also, you will have to tell your friend to cancel her bank card and probably close her bank account as they may try to take further amounts.

Mara69

~Brock~ wrote: »

That's an interesting and novel way of trying to circumvent Section 155 of the Consumer Credit Act 1974. I would be interested to hear the OFT's view of this. Might even refer it to them myself

*Shrugs* Go for it. Merely pointing out that the OP could have found the information himself by actually reading the terms and conditions. Ideally before he handed over his girlfriend's card details.

Apples2

I'm impressed the OP decided to use his girlfriends card to throw out into the Internet.:T Wonderful... :j

You can see the shift these companies are using to retain the cash which was enthusiastically thrown at them.

There is another company (can't recall which), who, although prepared to give a refund, stiipulate they will still charge you for the "service" they provided up to the point the applicant cancels.

I think we can guess how much their "Service Charge" will be.

Still, it remains easy money as long as there are so many people reading the words "Guaranteed acceptance" and believing it to be true. It's not like the Internet has anything other than the absolute truth within it's pages.

DCFC79

Not the wisest decision OP to uase your girlfriends card, did you get permission to use it as i can see you being in the dog house for a while.