LoanPal *BEWARE*

biggles26

Best thing to do is ask Loan Pal for your money back. Technically as they have not matched you with a lender they are in breach of contract. If they do not do so then take legal action. Send them a 14 Letter Before Action (must be 14 days in order to satisfy the CPR practice direction concerning pre-action conduct). If they do not answer this them file a claim in court against loan pal.

Gaz83

biggles26 wrote: »

Best thing to do is ask Loan Pal for your money back. Technically as they have not matched you with a lender they are in breach of contract. If they do not do so then take legal action. Send them a 14 Letter Before Action (must be 14 days in order to satisfy the CPR practice direction concerning pre-action conduct). If they do not answer this them file a claim in court against loan pal.

Or you could just, you know, follow their own refund procedure?

breadcake_2

I have recently had dealings with them over the phone, was told about the charge but lied to about it. They told me over the phone that I had been accepted for a loan and even gave me the repayments, then told me to log into my account and that I would just need to sign directly with the lender. They knew I did not want a payday loan as this was to help get out of the payday loan cycle.
They also told me that my payment would be taken in March, on my next payday.

I then logged in online as the guy was still on the phone, and he rushed off, obviously knowing he had just scammed me. I had no such loan, the only thing on the loan finders sites were payday loans, despite the one I had been quoted being for somewhat more, and over about four years. I emailed to request a refund, although knew the payment wouldn't be taken until March, they did tell me they would keep a fee.

No response to the email, so I wrote a letter as stated on their website. (after emailing the wrong company, and getting a response back saying that they didn't even have a call centre, LIKE A FOOL!) By this time it also became apparent that they had taken their fee two days later, at the end of February, rather than on the agreed date of my payday in March.

I have today received a letter back from them, stating that I am not entitled to a refund, as I was offered a loan, regardless of whether I took it or not!! And completely ignoring the complaint I made about the payment being made a month early, the way I had been misled over the phone about the loan, or the fact that their websites security certificate had expired and wouldnt let me access their contact details.

I am very unimpressed with this, over the phone they seemed very professional, and had I realised the loan he told me about (right down to repayment figures and terms) did not exist, I would not have agreed to the fee, I only agreed because I genuinely believed he had found me a loan!

Apples2

breadcake wrote: »

They also told me that my payment would be taken in March, on my next payday.

Sounds like a Payday Loan.

Anyhooo, why don't you write a letter requesting a refund as their own terms tell you to?

If you haven't worked it out yet, this is all they do, take fees. You can't expect them to buckle under the pressure of a phone call or email.

They won't give up then, so take it further, always in writing leading to a complaint to the FOS.

breadcake_2

As I said in my post, I have written to them, they have written back and told me that I am not eligible for a refund as I was offered a loan, regardless of whether I took it or not.

It was not a payday loan, but when I told them I had concerns about the fee, they said that they would take it on my next payday, or a date that had been agreed on, which was 27th March. He then also told me it was likely that my first months loan repayment would probably be taken then also.

I explained in detail to the guy on the phone that i did NOT want a payday loan or that I didn't want a guarantor loan. This is all I was offered when logging into the loan pal website.

When I wrote to them, I told them I wished to claim a refund and to make a formal complaint. They ignored the complaint and told me I was not eligible for a refund as I was offered a loan, regardless of whether I took it or not. Although at no point do I remember being offered a loan, unless it was one of the hundreds of spam texts I got that was related to them. Either way I was not offered a suitable loan, and thus I didn't take one. At no point on the telephone call did the guy tell me this, I asked what if I am not able to get a loan that suits me, and he told me I would be eligible for a refund, less £5. He did not tell me it had to be done in writing, nor did he tell me that the terms and conditions were online. In fact at no point before I agreed to pay the fee did he tell me it was an online process, I had, until the end of the call believed they worked solely over the phone.

Apples2

So we all agree then, including loanpal, that you can have a refund (minus £5 of you didn't cancel within 14 days), as long as the refund is requested in writing.?

If your original letter really did request a refund, send another one, a formal complaint this time requesting a refund.

If that doesn't work, go to the financial ombudsman website and fill out their complaint forms.

Nobody is going to lend money to someone who cannot even manage a payday loan so stop applying to random promises and colourful websites.

DCFC79

Apples2 wrote: »

Nobody is going to lend money to someone who cannot even manage a payday loan so stop applying to random promises and colourful websites.

In addition to this breadcake no loan will require a fee up front, whether they tell you you get a holiday or even if its to verify the account dont give your card details.

breadcake_2

No, loanpal do not agree that I can have a refund, which was the point of my post, their letter in response says that i am NOT eligible for a refund as I was offered a loan regardless of whether I took it or not, or whether it was suitable.

I have asked for a refund and told them that i wish to make a formal complaint, in writing, to their postal address, in an envelope with a stamp on it. I did email them, but I also wrote, as stated in both of my posts.

My issue was not that I could not afford to pay back payday loans, its that I was stuck in a cycle, of still taking them, because when someone set fire to my house last September, I had to move and pay all new fees and upfront costs, and whole new furniture and clothes and although I was paying my payday loans off, I was ending up short and having to get another one, and it was a vicious cycle due to the high interest rates. I wanted a larger loan to clear my credit card and pay off the payday loan, and have smaller monthly repayments so that I could keep on top of it. I was not being an irresponsible borrower, I was trying to get out of a cycle caused by an arson attack, as payday loans had shot my credit rating.

breadcake_2

DCFC79 wrote: »

In addition to this breadcake no loan will require a fee up front, whether they tell you you get a holiday or even if its to verify the account dont give your card details.

I was aware that it was a broker, and was willing to pay the fee as they told me that they had found me a loan. Due to the payday loans killing my credit rating I was unable to find one by myself. I did have a credit card but was making all my minimum payments on it. But thought if I was getting a loan I might as well clear both and have a clear slate and fresh start.

DCFC79

Only way I can see you getting out of the cycle is to on a payment plan if your having problems paying, look at where your spending your money and cut back.