Please help asap

jippynip

My boyfriend applied for a loan lastnight without me knowing.He visited a site called best loans direct.co.uk which looks like a search comparison site and from there a company called "right financial" contacted him this morning via email and telephone offering him a loan.I have had a look on the website which was hard to track down. I only found the website through looking at the logo on an email they had sent him which contained a signature which he had to tick to confirm loan.They are supposed to be coming back to him on Monday to send a "pack" and from there the loan will be payed.They also have asked for a £69 fee due on the 20th of this month. I can't find anywhere on their website which says they are regulated by the FSA and i have searched their consumer credit licence number with the OFT and nothing comes up. My feeling is this place isn't legit they have taken his card details the number and expiry. Is best loans direct a viable respected search engine for a loan like money supermarket? this is the link for "Right Financials website please advise what we should do next http://right-financial.co.uk/secured/terms.asp

brightonman123

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DG_10035958

has links/tel no's to check if a lender is authorised, and to report sharks..

chalkie99

First of all, check he has supplied his own bank details and not yours!

Note these people do not lend money. They are stitching him/you up for a £69 fee for which they will just pass his number around other companies who will now start hassling him.

The only way to be sure of not paying this fee is to close the bank account immediately and open a new one elsewhere. Cancelling his card is not enough.

Have a strong word with him before he lands you in deeper water.

jippynip

Hi both, thanks for your reply i have searched the register with the OFT i think i am searching with the correct information but they go by a few variations of the name " Right Financial".."More financial" "Right finance" etc.. He has definetly used his own bank account, i have checked.I "googled" the company data protection register number which came up with "loangogo" so its not looking good for this place judging on the posts on here re: loanagogo.Hes going to get on to the bank now..

jippynip

Also a bit concerned with that hes signed electronically.. they sent him an email he had to tick the box to sign.

iolanthe07

You're right to be concerned. Just read some of the huge numbers of posts here about these companies and how they operate. No decent broker or lender will ask for an up-front fee, and you should never pay one. Is it too late to stop the payment£ If not, the good news is that if he is persistent he will probably get his money back, less £5 they are allowed to keep.

jippynip

We have contacted the bank and his card has been cancelled as the payment hasn't been taken yet..They are going to send him a new card with a different card number.The comparison site he used appears straight away on Google and looks legit this is how the company contacted him.Is the comparison site legit and not the loan company.This site claims to deal with big name loan providers Halifax, Santander etc this is it http://www.bestloansdirect.co.uk/

jippynip

One of the most annoying things about this is ( well apart from the fact he applied for this loan in this way in the first place) is that they actually told him he definetly had a loan, gave him apr details ( which of course were low ) and repayment amount and told him his loan owuld be paid out within a few days.Apparently they said to him a few times you definetly have a loan.These people are ruthless.

DCFC79

jippynip wrote: »

We have contacted the bank and his card has been cancelled as the payment hasn't been taken yet..They are going to send him a new card with a different card number.

You should also move any money to another account with another bank as suggested in post 3

Vikipollard

As Chalkie and DCFC say, get him to change accounts. Cancelling the card wont make a jack of difference as he's already given them the authority to take the money. That they havent already is neither here nor there.

(Read the many posts about payday loans where people ring up and cancel the card to stop them taking the money, and then are all self-righteous when the bank lets them take the money. Cancelling the card will not stop them taking the money.)

These companies are brokers only. Their T&Cs will say that for a fee they will pass the details on to other people who may be prepared to loan him money. But that could be the likes of Wonga et al, with their 4000% apr.

To be clear...he needs to CHANGE BANK ACCOUNTS.