Advice needed please!

suzy10

We applied to Advantage Loans for a loan of 11k after seeing their site on the internet a few days ago. They wrote and told us we had been accepted by their company. To proceed we had to send them a fee for £49.50 which we did. We really thought it was an arrangement fee for the loan. How stupid are we:rolleyes:
A few days later we had a letter telling us to try the Halifax, which we did and they only offer a max of £6k, also some company that would offer us £3k providing we have a guarantor who is prepared to send copies of bank statements, copy of passport and a front and back copy of their debit card!! Have to add this £3k loan was at an interest rate of 42.6%. Can you believe that!
My husband rang the loan company and told them that they had not come up with the loan of £11k, which they told us in the first instance we had been accepted for, so we wanted our £49.50 back. Was told no way would we get our money back.
My question is "can they get away with this"? I can't believe we were so stupid to fall for this. We really thought they were giving the loan, and it was an arrangement fee we were paying.
Have to add we have had problems with credit before, but nothing in the last 3 years, so now we wish we had just tried the bank.

Any advice would be gratefully received.
Thanks
Suzy

suzy10

Many Thanks to you for this information.
Suzy

suzy10

Hi

Just had a cheque this morning from Advantage loans for £44.50 which I accepted. They charged £5 for an admin fee, was quite happy about that.

Thanks for the advice, would not of got it without your help.

Suzy

umpa05

i done the same thing with another company called cgs they havent found us a loan so we asked for are money back and they said we cant have it that was about 6 months ago every month i keep asking for it and still get told no can someone give me some info

suzy10

Did you know they are part of the same group Post Net Ltd.

Go to https://www.theanswerbank.co.uk read what happened to them in 2004. Then write again saying it has come to your attention that in November 2004 the company apperared in Watchdog. Quote what was said, and tell them if you don't get your money back in 7 days you yourself will be contacting Watchdog.

Before I wrote my letter my husband rang the company and was told that they hardly ever refunded fees. If they did it would take over 6 months!!
Amazingly after my letter threatening the above the cheque came before the 7 days were up.

Keep at it.
Good Luck
Suzy