SpeedCredit.co.uk madness!

dopedave

Hello all,

First time poster here how are we all today? :beer:

On the 13th September I applied for a loan with SpeedCredit.co.uk, which went through fine and I signed the agreement but after a few days of not receiving my money I contacted them to find out why. Their response was that they had already transferred the money into my account but there was one problem, they had the wrong sort code! I have no idea how they got this wrong when I entered my details correctly. :S

But anyway I have been trying to phone and contact them ever since with no response since their last one around 10 days ago and today I received an email from them saying payment of £253 will be taken from my account tomorrow!

I have tried phoning again and I have emailed them again for the millionth time to say I NEVER RECEIVED THE MONEY!

What can I do here?

These people will be taking this money tomorrow and I really need help! Since I never received their money in the first place I can't afford to pay them back now!!

Any help is greatly appreciated!

Malky

If they couldn't pay the money into your account with the wrong sort code, how are they going to take the payment?
I think you need to keep on at them unless there's something you're not telling us.

dopedave

Malky wrote: »

If they couldn't pay the money into your account with the wrong sort code, how are they going to take the payment?

From my debit card they have on file. They don't need a sort code for that.

There is nothing I am not telling. I applied for the loan and got accepted but never received the money because they had the wrong sort code. As simple as that. Since their first response about 10 days ago I have received no further reply despite my continuous efforts to get in touch with them.

Malky

Like I said, keep at them. According to their website, they transfer the money very quickly

dopedave

Malky wrote: »

Like I said, keep at them. According to their website, they transfer the money very quickly

My only worry is unless I cancel my debit card which I would rather not do these people will take £253 from my debit card for something I never received. This is what I need advice on. Is there anything I can do except cancel my debit card? Is it possible for banks to block just a single transaction if I tell them beforehand?

Edit: I have tried phoning their phone number countless times but everytime I get the response that "our office hours are 9:30am - 08:00pm Sunday through to Friday , please call back then"! I have just tried phoning now 1pm on a Thursday!

These guys must be a scam.

[Deleted User]

Presumably it's set up as a CPA? In which case you may still have time to cancel it.

But just cancelling your card won't do anything.

EPL

When did they say they paid the money in ?

They are owned by MCO Capital Limited who have been shut down and fined - http://www.thisismoney.co.uk/money/cardsloans/article-2186024/Payday-lender-MCO-Capital-shut-fined-500-000.html

dopedave

EPL wrote: »

When did they say they paid the money in ?

They are owned by MCO Capital Limited who have been shut down and fined.l[/URL]

Many thanks for the link!

They said the money was paid in the same day I applied, the 13th of September. The sort code they said they paid into was not what I put in the application form.

So can anyone advise how I can proceed with this? Like I said if I just block their transaction with the bank would it be ok to just leave this? Should I contact the Office of Fair Trading for more advice?

[Deleted User]

You could cancel the CPA with the bank but you can't just leave it there or they will end up trashing your credit file. You need to keep trying to resolve it with them.

FOS would be a later step.

dopedave

Deleted_User wrote: »

You could cancel the CPA with the bank but you can't just leave it there or they will end up trashing your credit file. You need to keep trying to resolve it with them.

FOS would be a later step.

Here is the trouble. I can't get hold of Speed Credit at all. I have tried emailing and phoning them the last 10 days but with no response. Everytime I phone I get a message saying about their opening hours yada yada yada and then the line disconnects.

Only once have they responded to me.

dopedave

Seems like I am not the only one with this problem with Speed Credit either...

consumeractiongroup.co.uk /forum/showthread.php?343025-Help-needed-please-Speed-Credit-say-they-have-transferred-funds-but-have-not

consumeractiongroup.co.uk /forum/showthread.php?342595-Speed-credit-Advice-needed-please

Edit: Sorry I should have edited my above post. How stupid of me not to research Speed Credit before applying. What a prat I am!