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Warning - finance facility
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I hope this will help others to avoid this horrible company as I wish more than anything I'd read a review before I used them!
I signed up on Friday to their site (thinking it was free), was asked for bank details so they could take and refund 50p from my account to check it was valid. Once this was done, they said they would need to call me to confirm my application. On this call I asked them to cancel my application because I had found another source of lending. They said they would do so. I have since been inundated with calls and text messages from lenders (they sold my information despite my cancellation). I checked my internet banking last night, and they had charged me £69.95. I checked their website and way down in the t&c's it says that's the fee they will charge when you accept a loan - this is not written anywhere on their website other than the t&c's section, and was not mentioned on the phone once. I called them today, and they said because my application was completed online and a lender accepted me (NOT me accepting a loan) that gave them the right to charge me their fee. I pointed out that they hadn't even done the 50p in/out check on my bank account to which they responded that because it is so small, it wouldn't show up on my statement (RUBBISH, I've seen 0.01 from PayPal before to verify my account). Basically, they will not refund me because my application was processed, despite me asking them to cancel it. Apparently between my asking them to cancel and them passing it to their payments department, I was accepted by a lender and therefore owe them a fee. I pointed out that this was their own internal delay and why should I pay an extortionate fee for them doing absolutely nothing - the woman on the phone basically rambled over the same script a few more times before I outright asked if I would get my money back since they did nothing for me, and funnily enough I was told no.
Sorry for my rambling post, but basically, please, please, please don'tuse this company, they are preying on people in financial difficulty and, had I accepted a loan, their fee would have come out before I received the funds anyway, and I would have had an informal overdraft charge to deal with too.
I guess you live and learn and I will definitely be reading t&c's in the future, but I hope this helps others avoid being conned out of £70!
I signed up on Friday to their site (thinking it was free), was asked for bank details so they could take and refund 50p from my account to check it was valid. Once this was done, they said they would need to call me to confirm my application. On this call I asked them to cancel my application because I had found another source of lending. They said they would do so. I have since been inundated with calls and text messages from lenders (they sold my information despite my cancellation). I checked my internet banking last night, and they had charged me £69.95. I checked their website and way down in the t&c's it says that's the fee they will charge when you accept a loan - this is not written anywhere on their website other than the t&c's section, and was not mentioned on the phone once. I called them today, and they said because my application was completed online and a lender accepted me (NOT me accepting a loan) that gave them the right to charge me their fee. I pointed out that they hadn't even done the 50p in/out check on my bank account to which they responded that because it is so small, it wouldn't show up on my statement (RUBBISH, I've seen 0.01 from PayPal before to verify my account). Basically, they will not refund me because my application was processed, despite me asking them to cancel it. Apparently between my asking them to cancel and them passing it to their payments department, I was accepted by a lender and therefore owe them a fee. I pointed out that this was their own internal delay and why should I pay an extortionate fee for them doing absolutely nothing - the woman on the phone basically rambled over the same script a few more times before I outright asked if I would get my money back since they did nothing for me, and funnily enough I was told no.
Sorry for my rambling post, but basically, please, please, please don'tuse this company, they are preying on people in financial difficulty and, had I accepted a loan, their fee would have come out before I received the funds anyway, and I would have had an informal overdraft charge to deal with too.
I guess you live and learn and I will definitely be reading t&c's in the future, but I hope this helps others avoid being conned out of £70!
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We see this repeated many times each day.I guess you live and learn and I will definitely be reading t&c's in the future, but I hope this helps others avoid being conned out of £70!
We normally point people toward the T&C's to see how to get a refund. You have already read them so you already know what to do.
Nowhere will it tell you to randomly keep calling them on the phone, refunds are requested in writing only (on printed letters in the post, not emails).0 -
Read their T&Cs and get your fee back -
If you do not take any loan within 6 months of your application you may be entitled to a refund of your application fee. In this event we will refund your fee (less an admin charge of £5.00) within 21 days of the date on which we receive your written request for a refund of your application fee. However, you cannot cancel your application and expect a refund if you have accepted a loan during our exclusive 6 month relationship period, even if, in your opinion it was not directly brokered by us, as any such loan will be deemed that it has been brokered by us for you within the 6 months from the date of your application. Prior to issuing any refund, we may instigate a Credit Check to confirm this. Any requests for a refund must be made in writing to: The Refunds Department, The Finance Facility, P.O. Box 215, Prescot, L35 1WA. You must enclose a stamped and addressed envelop for our reply, which will be within 21 days.
And never apply to a broker again.0 -
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Deleted_User wrote: »Read their T&Cs and get your fee back -
If you do not take any loan within 6 months of your application you may be entitled to a refund of your application fee. In this event we will refund your fee (less an admin charge of £5.00) within 21 days of the date on which we receive your written request for a refund of your application fee. However, you cannot cancel your application and expect a refund if you have accepted a loan during our exclusive 6 month relationship period, even if, in your opinion it was not directly brokered by us, as any such loan will be deemed that it has been brokered by us for you within the 6 months from the date of your application. Prior to issuing any refund, we may instigate a Credit Check to confirm this. Any requests for a refund must be made in writing to: The Refunds Department, The Finance Facility, P.O. Box 215, Prescot, L35 1WA. You must enclose a stamped and addressed envelop for our reply, which will be within 21 days.
And never apply to a broker again.
What I was told on the phone doesn't match up with what is in their t&c's - I was told that as soon as a lender accepts me, not the other way around, then that's when they will take their fee (and that's why it was taken so quickly). I received a bank loan on the same day in order to consolidate debts and therefore according to what you pasted, they are assuming that they have brokered it for me and will credit check me to verify that I took out another loan?
I will write to them if there's a chance I'll get it back, but the impression I was given (and other reviews I've read since) is that they don't ever refund anybody... They've basically covered their own backs by saying that any other loan taken is included in the arrangement so they get their fee whether or not I take a loan dealt by them?0 -
Deleted_User wrote: »Is that like Twitter? Can you provide a link to printedlettersinthepost.com?
h2402 - forget trying to understand them. They, along with many hundreds of others simply scam people sooooo desperate for money they will believe any old tripe.
No other lender says yes, so it should ring some alarm bells why these people are promising you everything.
Get your letter in the post, make your formal complaint, then complain again to the FOS....
Or do what everyone else does and simply let them get away with it ensuring they continue scamming many more people.0 -
And make sure you send your letter by RECORDED DELIVERY."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0
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Hi can anyone tell me if they have had success in getting their money back with these frauds? This has happened to me today and im fuming. Eveything they told me was lies, and i want my money back. Thanks0
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Hi can anyone tell me if they have had success in getting their money back with these frauds? This has happened to me today and im fuming. Eveything they told me was lies, and i want my money back. Thanks
Yes, I got back £69.95 for my son.
See:
https://forums.moneysavingexpert.com/discussion/3615507"There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
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You say never apply to a broker again, but where else do you go for a loan if you have poor credit? And how do you know which of the many companies who reply when you put in an online inquiry are actual lenders rather than just more brokers?0
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