Loans Direct UK [text removed by MSE Forum Team] Processing Fee

headknee

I ended up with a membership for Loans Direct without actually realising it and got £69.75 taken from my account.

I followed the refund process to the letter and sent it recorded delivery.

Royal Mail provided me with a signature and a delivery time the next day - Loans Direct claim they didn't get it.

I sent two more copies of the letter, 1 recorded, 1 not - next day they contact me with a refund, for £44.26, after taking off £15 for Credit Cleaner, and £1 per day for membership.

I've rejected the offer in favour of a 'full review' of my account. I hope that means they are going to look to see if they will refund me more rather than bombard me with more loan details.

They are definately well trained at delaying the refund process to try and keep your money.

DCFC79

headknee wrote: »

I ended up with a membership for Loans Direct without actually realising it and got £69.75 taken from my account.

I followed the refund process to the letter and sent it recorded delivery.

Royal Mail provided me with a signature and a delivery time the next day - Loans Direct claim they didn't get it.

I sent two more copies of the letter, 1 recorded, 1 not - next day they contact me with a refund, for £44.26, after taking off £15 for Credit Cleaner, and £1 per day for membership.

I've rejected the offer in favour of a 'full review' of my account. I hope that means they are going to look to see if they will refund me more rather than bombard me with more loan details.

They are definately well trained at delaying the refund process to try and keep your money.

How long ago did you send the first letter ?

You can take it to the FOS if longer than 8 weeks.

headknee

I became a member 7th Feb 2014, only realised when £69.75 came out of my account on 12th (I received a text message). I started the cancellation process and sent the letter on 13th.

They told me on the 24th that they hadn't received the recorded delivery on the 14th (Royal Mail say they did, and I have the proof).

Sent 2nd/3rd letters on 25th, they offered me £44.26 on 27th.

I rejected it, and have just had a reply today saying that is all they are going to offer due to ' any costs we have incurred in setting up your account and communicating with our panel of lenders on your behalf. All of our products and services were available to you for 5 days before you requested to cancel your membership'.

Just wondering if I should cut my loses and take £44.26 (a lost of over £25), or take it up with FOS?

imoneyop

headknee wrote: »

Just wondering if I should cut my loses and take £44.26 (a lost of over £25), or take it up with FOS?

You cancelled within 14 days, so you are entitled to a full refund as detailed in The Financial Services (Distance Marketing) Regulations 2004.

If you let them get away with it, they will be able to carry on in business - it doesn't cost them £25 to spam your details to a few dodgy lenders. So, report them to the FOS - the more people that do that then hopefully they will take actîon and deal with these parasites.

Chocoholicization

Loans Direct and other such companies are notorious for implying a lone will be given . They do not make it clear your info will then be fistributed to other companies for marketing, they also do not make it clear continuous sums of money will be charged to your bank account at a monthly rate.
People take these loans because they are desperate to live - these companies exploit them . I know 4 people in separate cases who have been viciously stung by these companies . They end up further in debt .
These are serious times - people stuggle to live , put food on the table, clothe their children . These kind of Loan companies thrive on other peoples misery .

DCFC79

Chocoholicization wrote: »

Loans Direct and other such companies are notorious for implying a lone will be given . They do not make it clear your info will then be fistributed to other companies for marketing, they also do not make it clear continuous sums of money will be charged to your bank account at a monthly rate.
People take these loans because they are desperate to live - these companies exploit them . I know 4 people in separate cases who have been viciously stung by these companies . They end up further in debt .
These are serious times - people stuggle to live , put food on the table, clothe their children . These kind of Loan companies thrive on other peoples misery .

Yet if people thought about handing over card details and decided not to go through with it then they wouldn't be in the situation with money being debited from the bank.

It comes down to various causes like people living beyond they're means.

headknee

Since I've rejected the £44.26 and mentioned The Financial Services (Distance Marketing) Regulations 2004 and threatened going to FOS they are ignoring me - no reply to emails, support tickets, etc. Tried calling but calls have been 'dropped' after giving my details!

Looks like FOS it is then!

imoneyop

headknee wrote: »

Tried calling but calls have been 'dropped' after giving my details!

Don't waste your time and money calling them any more, but do be sure to mention this fact in your complaint to the FOS.

Apples2

headknee wrote: »

Since I've rejected the £44.26 and mentioned The Financial Services (Distance Marketing) Regulations 2004 and threatened going to FOS they are ignoring me - no reply to emails, support tickets, etc. Tried calling but calls have been 'dropped' after giving my details!

Looks like FOS it is then!

Have you completely forgotten what steps you took to get your first offer?

samfev

Hi, I am after some assistance with a financial matter if anyone could help, its much appreciated. I needed a quick fix loan of just £150 and was searching numerous companies via my mobile. Stupidly, I was just putting my personal info on a few companies I had heard off, but Loans Direct seemed to give me the answer or hope I was looking for. Could offer low loans with quick repayments or if I wanted more then I could apply. I just entered details as I was in work and needed this cash asap.
needless to say I was gutted when they had took £69.95 from my account. I only wanted £100 - £150 max and yet they took that with a promise of "finding me the right loan"
The matter of this issue now is, within that hour I rang the company to cancel the membership ASAP. They were all to enthusiastic to explain why this membership is second to none and I would reap the rewards. That was in December 2013.........I am still waiting for this refund!!!!!! You cant just ring and cancel, you have to print a form off and send back. You then don't get a FULL REFUND as they like to deduct allsorts of fees for stupid things. £15 for a credit cleaner.....£1 per day for the membership being active.
For anybody out there who can advise on my next step I will gladly take your advice and more. I have emailed on countless times as I have done via phone. I have refused my first offer of £49.95 as I WANT that full refund.
My advice to anyone would be keep clear of this farce company, they are making peoples lives misery by making a simple request, and absolute mammoth task!!!!