Right Financial...?

chrisn92

Hey there, firstly thanks for taking the time to read this and any help at all is greatly appreciated.

Firstly I have bad credit, have applied for a few loans, got rejected from basically all of them. Obviously the usual brokers contacted me etc, but having checked on all companies I never replied to any of them. Right Financial phoned me and gave me the usual natter 'We can provide a gold bullion to you in 3 seconds' kinda chat.

Firstly I asked are you a lender or broker, to which they replied a lender. So continued the call, eventually came to 'fee's' and I said sorry I don't wish to pay any fee. Oh but wait, 'we can find you a loan, then after the loan is paid out we will collect our £70 fee'.

This was 5 days ago, I haven't paid anything at all to them, but they have arranged for me to pay on the 22/03. I do not wish to pay this as I was GUARANTEED a loan within 3 days of application, to which I have had no loans offered.

I have since read on this forum that Right Financial are a pretty dodgy company(Should have really tried this in the first place *mind blank*).

So my question is, how do i go around stopping this payment?
I bank with Bank of Scotland, and am within walking distance of my local, so can go in easily if need be.

Thanks.

Apples2

Did you really dish out your bank details to this cold caller?
If you have, you authorised the payment as soon as you gave your details out, it is unlikely you can stop the payment going out.

You could try taking a quick punt with the bank and instruct them to cancel any Continuous Payment Authority to these clowns but as I mention, it may already be too late.

NOBODY can guarantee anyone a loan, if they do...it is a scam

http://www.right-financial.co.uk/terms.asp

[FONT=Geneva, Arial, Helvetica, sans-serif]CANCELLATION AND REFUNDS[/FONT]

[FONT=Geneva, Arial, Helvetica, sans-serif]We charge a fee of £69.95 for providing the service of acting as a finance broker. We specify the fee as part of our communication with you. If You do not enter into a loan offered by a lender or financier within the 6 months, we will refund the fee less the £5 brokerage fe e provided for by the Consumer Credit Act 1974. Refunds must be requested in writing to avoid repayments being sent to a wrong address.[/FONT]

Get your letter ready, a letter that is, not an email.

chrisn92

Apples2 wrote: »

You could try taking a quick punt with the bank and instruct them to cancel any Continuous Payment Authority to these clowns but as I mention, it may already be too late.

It wasn't a cold call, I did genuinely apply for the loan and this was a follow up call. Do you think its best to try and get there banking details and go to my bank and said to stop any debits from said account? Or can i just go in and use this Continuous Payment Authority you have said and they will automatically know to stop any debits from this company?

DevCoder

You can try either but you authorised the transaction so expect it to be claimed anyway.

You need to follow their own T&C's on how to refund the money, this will involved writing to them within a specified time period, not email, not phonecall but write to them in the particular clause in their T&C's

They can withhold £5 of the amount as an admin charge.

Jules2012

Call them ask for an email/address to cancel. This isn't a continuous payment it's a one of fee, I doubt the bank will be able to stop it.

DevCoder

Under Financial Services (Distance Marketing) Regulations 2004 you have a right to cancel your application within 14 days of receiving our paperwork to receive a full refund. If You wish to cancel your application, You must write to Davenport Black notifying us. In this event We will refund your fee within 30 days of the date on which We receive your written request to cancel your application. Any such requests should be made to: Customer Service Department, Davenport Black, 268 Bath Road, Slough, Berkshire SL1 4DX.

Apples2

Jules2012 wrote: »

Call them ask for an email/address to cancel. This isn't a continuous payment it's a one of fee, I doubt the bank will be able to stop it.

Oh yes, email them, its bound to work!

Spread your wings a bit, see if you can find it their address by clicking only one link, give it a whirl.

EDIT. Bah, you don't even have to click a link. Phone them anyway just to check

chrisn92

Will it work if I just get a new bank card?

DCFC79

chrisn92 wrote: »

Will it work if I just get a new bank card?

Not always, why not just speak to your bank about cancelling the CPA.

Have you read replies 4 & 6 as they tell you what to do.

Apples2

chrisn92 wrote: »

Will it work if I just get a new bank card?

No. You already authorised the payment.
That's like filling your car with fuel, paying on a debit card then trying to cancel the card, its too late.

malcolmffc

I never understand why there is so much resistant by the OPs to writing a letter on these loan broker scam threads. Are these people so useless that they are incapable of even addressing an envelope?