Warning - finance facility

jt_87

I was recently charged a fee of £79.99 for a broker service from the company finance facility, i was not aware that i would be charged this amount or i would never of given my details, i was told that a 50p charge would be taken from my account and replaced, which they never actually did. After not receiving any loans or help from them and paying this ridiculous fee i emailed them immediatley to request a refund. I was treated like a scum bag and spoken to appaulingly they even at one point threatened to report me to the police as i was commiting fraud?!?!
In the t&c's it states that if i have not taken a loan i am entitled to a refund minus £5.00 admin fee, but the advisor i spoke to advised me that they do not hsve to listen to such rubbish and will be blocking me , i dont understand how companies like this are allowed to operate. How do i go about dealing with these people i would like to report them but also obtain my money back

BillJones

jt_87 wrote: »

I was recently charged a fee of £79.99 for a broker service from the company finance facility, i was not aware that i would be charged this amount or i would never of given my details

You'll have agreed to their terms and conditions, and checked the box to say that you had read and understood these when you applied.

Going to the terms, you see the above clearly listed under "Fees";

"We charge a fee of £79.95 for providing our Personal Service to you for acting as your Exclusive Personal Finance Broker..."

This being the case, I imagine that you are complaining about the extra 4p, the difference between the promised charge and the actual one?

Amy_2014

BillJones wrote: »

This being the case, I imagine that you are complaining about the extra 4p, the difference between the promised charge and the actual one?

^ *rolling eyes* I imagine BillJones that you know that jt_87 is doing nothing of the sort!

@jt_87 - from the T&C it looks like you may have to wait for 6 months before being able to apply for a refund of the fee, if you qualify for a refund. I would suggest you have another read of the relevant section about obtaining a refund as it explains the circumstances re qualifying.:)

poppasmurf_bewdley

If you took out this brokerage within the last 14 days, then you are within the time limit to cancel without charge. Look at their T&C's and write to them RECORDED DELIVERY telling them that you are cancelling the contract within the 14 day cooling off period given to you by law.

Do not put up with their crass stupidity. Remind them in the letter that if they fail to comply, you will refer the matter to the appropriate financial authority which will result in them facing fees of more than £400 to have the matter dealt with.

Deadbeat

'...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.'

It seems to be saying that they consider themselves entitled to keep the fee even if the borrower is approved for a loan from someone else, not involving them. In other words claiming the fee for work they didn't do.

Not sure if this would stand up to legal scrutiny.

mcclaren

I'm in the same position as you. the T&C's are not clear on the website and exactly the same happened to me. not only that but was innundated with Payday loan company's and other dubious lenders as well as some other recognised lenders. I got taken for 79 pounds as well and when I remonstrated with the laaughingly called customer care department and told them I would discuss them with Visa Disputes they emailed me back stating that if I did that they would report me to the police and SOCA for fraud! when I pointed out that I had not committed any fraud and that my contention was that they had misrepresented themselves thay came back and told me I was outrageous and had a cheek and would not deal with me anymore if i continued to challenge them.

tanyarackham81

I have to be honest they had me a porker. Silly me didn't read the terms and conditions and cried when they took my money out. OK so i have to wait six months before i can get a refund they only joy to that is its just before Christmas so will come in handy. But my advice is don't argue with them because you will not win. I have tried everything to get my money back. I have complained i have even complained about the staff because to be honest every single one of then was rude and miserable. Ideally you want to avoid them like the plague but if you get side swept by them i feel for you. If you manage to beat them please let me know.

tanyarackham81

poppasmurf_bewdley wrote: »

If you took out this brokerage within the last 14 days, then you are within the time limit to cancel without charge. Look at their T&C's and write to them RECORDED DELIVERY telling them that you are cancelling the contract within the 14 day cooling off period given to you by law.

Do not put up with their crass stupidity. Remind them in the letter that if they fail to comply, you will refer the matter to the appropriate financial authority which will result in them facing fees of more than £400 to have the matter dealt with.

I tried that and they said that the terms states that we are only allowed to cancel with the loan company and not them there is nothing on there that states a cooling off period with them. If there is could you let me know because that would be awesome

Pixie5740

tanyarackham81 wrote: »

I have to be honest they had me a porker. Silly me didn't read the terms and conditions and cried when they took my money out. OK so i have to wait six months before i can get a refund they only joy to that is its just before Christmas so will come in handy. But my advice is don't argue with them because you will not win. I have tried everything to get my money back. I have complained i have even complained about the staff because to be honest every single one of then was rude and miserable. Ideally you want to avoid them like the plague but if you get side swept by them i feel for you. If you manage to beat them please let me know.

How long ago did you sign up to The Finance Facility, less than 14 days ago?

Did they actuallysource a loan for you?

When you say you have done everything to get a refund have you written (actual letter, not an email) requesting a refund? The address is:

"The Refunds Department, The Finance Facility, P.O. Box 215, Prescot, L35 1WA. You must enclose a stamped and addressed envelope for our reply, which will be within 21 days."

Also contact your bank to in case a Continuous Payment Authority (CPA) has been set up on your debit card.

If you want to make a complaint then again stop phoning and get writing.

"We operate a complaints procedure. If you wish to make a formal complaint, please send your complaint in writing to:
Customer Service Department, The Finance Facility, Netherley Road, Tarbock, Merseyside. L35 1RG. We are a Licensed Credit Broker, licensed under the Consumer Credit Act 1974, License No. 632721. If you would like to know more about the protection and remedies provided under the Act, you should contact either your local Trading Standards Department or The Citizen’s Advice Bureau. If after complaining you are still not satisfied you do have the right to refer your complaint to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR."

EDIT: If you think they will just refund your money after 6 month then you're dreaming.

DCFC79

[TEXT DELETED BY FORUM TEAM]

Not a wise decision to post your email address is it ?