I've been scammed - Loan Options? Money Warehouse?

BCH_2

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Hi everyone

I was looking for a loan...at the mo I can only get paydy loans or quite high interest but that's OK I don't mind

I came across Loan-options.net who said for a fee of around £50 I could have a loan and told me all the financial info which was affordable and attractive so I clicked and i was told I had 'joined' the Loan-Options and become a member!? For which i would pay the princely sum of....yep....aforementioned loan arrangement fee. In the end the couldn't even give me a loan. Have I been scammed?? Anyone else come across these before. I'm really worried as they've got all my details. They don't even have a call centre....it's a third party company answering calls about 500 miles from where they are supposed to be based!

And same thing with moneywarehouse.co.uk - it all smells very fishy.

Hope someone can help me.

Thanks

gb12345

BCH wrote: »

Hi everyone

I was looking for a loan...at the mo I can only get paydy loans or quite high interest but that's OK I don't mind

I came across Loan-options.net who said for a fee of around £50 I could have a loan and told me all the financial info which was affordable and attractive so I clicked and i was told I had 'joined' the Loan-Options and become a member!? For which i would pay the princely sum of....yep....aforementioned loan arrangement fee. In the end the couldn't even give me a loan. Have I been scammed?? Anyone else come across these before. I'm really worried as they've got all my details. They don't even have a call centre....it's a third party company answering calls about 500 miles from where they are supposed to be based!

And same thing with moneywarehouse.co.uk - it all smells very fishy.

Hope someone can help me.

Thanks

Did you read the T&C and follow the instructions for cancelling and getting a refund? (although loan-options.net appear to be breaking DSRs by not giving a cooling off period).

dartilov

Hi

If it smells fishy it usually is.................well fishy.

I would put it down to experience and learn from it, try and get sorted in order to reduce the need to go to these extortionate loan companies and try to manage and get your credit history in better shape.

Yes, it all sounds pretty awful but these companies exist to make money out of those that can ill afford to lose £50 in the first place.

It may be worth a letter to them to have your details removed but I wouldn't dwell on it for too long.

Best of luck.

rizla_king

Any legitimate company likely to get you a loan would not require an up front fee.

chalkie99

BCH wrote: »

Hi everyone

I was looking for a loan...at the mo I can only get paydy loans or quite high interest but that's OK I don't mind

I came across Loan-options.net who said for a fee of around £50 I could have a loan and told me all the financial info which was affordable and attractive so I clicked and i was told I had 'joined' the Loan-Options and become a member!? For which i would pay the princely sum of....yep....aforementioned loan arrangement fee. In the end the couldn't even give me a loan. Have I been scammed?? Anyone else come across these before. I'm really worried as they've got all my details. They don't even have a call centre....it's a third party company answering calls about 500 miles from where they are supposed to be based!

And same thing with moneywarehouse.co.uk - it all smells very fishy.

Hope someone can help me.

Thanks

You haven't been scammed in a legal sense - you were click happy and rushed into something without reading it properly.

Even now it seems you haven't studied what you signed to as the "about £50" you mention is actually £64.76.

Your best bet is to follow the instructions on the "terms" page of their website and write to the quoted Cardiff address (not their registered office in Bridgend) and cancel your membership immediately. Note you must write a good old fashioned letter and send it through the post - not send an e-mail.

Don't sign up to any other websites and never give your bank or card details!

BCH_2

thanks for the quick replies.

xsupercarlx

IMO send it recorded for good measure.

esuhl

I hate the idea of dodgy companies charging extortionate fees for payday loans and the like... But I had a look at loan-options.net and it does say (in bold, directly above the fields asking for your credit card details):

Loan Options charge a one-off fee of £64.76 which is NOT payable today but will be will be debited within 50 days.

And you also need to tick the box labelled:

I agree to the Loan Options Fee and have read and understood the Terms and Conditions.

It may have been an unwise purchase, but I don't think you can claim to have been scammed.

The default loan period (5 years) is pretty crazy! Borrowing £350 would cost £1349.36 including the "one-off fee". Yikes!

wiseshark

BCH. I'm guessing that you paid the upfront fee with a Debit card. You should contact your bank and explain the situation. There is a good chance that they can get the money back for you, although it could take up to six months.

Never pay upfront fees, period.

gb12345

wiseshark wrote: »

You should contact your bank and explain the situation. There is a good chance that they can get the money back for you, although it could take up to six months.

On what basis? They paid for a service and the company is providing it. Any chargeback attempt will be fought by the company.

The companies give a cancellation route so that is what the OP should be following. If he is in time then he will get a refund - why wait 6 months for the posibility of getting his money back.

Apples2

To be fair BCH seems quite jovial about paying high interest rates, there is even a smiley face when acknowledging a whole lot more than this meagre £50 (or £65, even this doesn't matter!) Will be paid back

BCH must have money to burn, lucky so and so.