Charged for loan application

d3xp2pc

I was recently looking for a loan online, today when I checked my bank account I had been charged £69.50 by a company called Loans Express.

I can't remember using this site directly but did use a loans search engine which must of passed on my details to them as I wouldn't of agreed to pay any upfront fees.

I have cancelled my debit card and contacted visa but they say that Loans Express take £69.50 as a fee and I would have to persue a refund from them. I have telephoned a couple of times but you get an automated message and then get cut off.

I'm at a loss how to proceed now. Any advice would be appreciated.

Tixy

Whichever loan broker site you used that you put your debit card details in is the one to start with. You might find its a different trading name of loans express.
You will very likely find that whichever site you did use did detail the loan broker fee in its terms & condition of the website.

With these loan broker sites you can cancel within 14days of the application for a full refund - thats 14days from whenever you entered your bank details probably, or you apply for a refund of all but £5 of your fee. You need to do this in writing, the site should provide details of how to do this/where to send it etc.

[Deleted User]

Write to them. Seems the refund details and address are in the terms and conditions, which you should have received at some point after banging in your card details.

redsaxon

I did a similar thing and ive been pursuing my refund for almost 4 weeks now and im waiting on paperwork to take it to small claims court.
Im expecting your about to travel the same road as ive been forced too.
Everything you send ie letters/refund requests etc send recorded delivery and keep all proofs of posting,they will ignore you and fob you off in the hope you get bored and let them keep it
Either way theyve made £5 off you (the amount the law says they can retain) keep to the rules,do everything legit and dont give up!
Good luck and i hope this process goes smoothly for you

d3xp2pc

Ok thanks for all the advice. I'll compose a letter now and send it off

opinions4u

Lesson to learn. Don't give any company like this your debit card details.

redsaxon

opinions4u wrote: »

Lesson to learn. Don't give any company like this your debit card details.

The problem is the way the sites are made and worded they trick you into thinking your applying for a loan directly with them,not a broker.
Even say "no obligation" etc etc but yes it sure is a lesson to learn the hard way!
But on a positive note im now an avid googler and research everything and everyone,this experience has made me super cautious and of course it made me aware of this site and many others that have helped me in so many different ways.

DCFC79

opinions4u wrote: »

Lesson to learn. Don't give any company like this your debit card details.

Even if they promise the earth for a small sum of £69.95 still dont go there.

d3xp2pc

As advised I sent a letter via recorded delivery which they received on 19/07/12 within the 14 day period for a refund.

I have received no correspondence from them so was wondering how long I had to wait before I can take the matter further, also since they haven't kept to their terms and conditions by refunding me would I then be able to chase it via my card issuer?

redsaxon

d3xp2pc wrote: »

As advised I sent a letter via recorded delivery which they received on 19/07/12 within the 14 day period for a refund.

I have received no correspondence from them so was wondering how long I had to wait before I can take the matter further, also since they haven't kept to their terms and conditions by refunding me would I then be able to chase it via my card issuer?

7th of june i did almost exactly the same as you,ive sent 3 letters recorded delivery to 2 different addresses and to date ive been totally ignored .I have informed the FOS and im currently waiting on some paperwork that i need to start a claim through the small claims court.
As for the card issuer i had no luck at all as i had willingly given them the card details(yes yes i know..lesson learnt)Bank couldnt/wouldnt do anything.
You could write a formal complaint to them but id guess it would go ignored or youd just be told to speak to someone else.

Apples2

The proper way to do it is to request your refund (as you have done) by recorded delivery.

Send a hastener complaint that they have not responded after 14 days. They have 30 days to respond to your complaint.

Send a Formal Complaint that they have not adhered to their own T&C's by refunding the fee (include all previous documents as enclosures).
They have 8 Weeks to respond to a Formal Complaint.

Take it to the FOS in writing again including all previous correspondence you sent along with proof of posting.

This way you have demonstrated you have followed the correct procedure and gives them no room to manoevre, they are cornered so the chances of success are huge.

It's a long drawn out process not many people can be bothered to follow, which is why so many of this type of company continue to operate. It also acts as a good personal lesson in throwing out bank details to anyone who makes promises when everyone else is saying no.

You could by-pass this and try your own bank in an attempt to recover the money but it isn't guaranteed. If successful, bonus.


EDIT: I should add, the ONLY response you are looking for is a refund.
Ignore completely ANYTHING else they say, you can be assured they will try to stall. They will likely tell you the refund is on it's way.... Ignore everything until the refund is in your hand.
Do not delay the next stage of complaint due to their stalling. They are simply hoping to give you the runaround until you get fed up.
They have YOUR money and are most definitely laughing at you.... go get it back again.