Loan Spotter Refund

Mabobbo

Hello everyone,

I'm new to this and was wondering if you could help me.

I recently wanted to get a loan but due to my poor credit rating, this was difficult. A company called Loan Spotter called me up and said they could help me find a loan. They asked for a starting up fee of £54.96 which I stupidly gave. I then realised I had made a huge mistake so I called them up asking for a refund. They said I had to put my refund request into writing, which I did. They got back in contact with me saying that I would only be given half of my money back but in their terms and conditions, it says that you would have your money refunded less £5. I was then told that the money would be in my account within 7 to 14 working days. 14 working days was on Thursday and I still have nothing. I've emailed and called countless times and I'm starting to get annoyed. I just want my money back.

Has anyone else dealt with this company? Has anyone else had this problem? Any advice?

TheMoney

10. We charge a fee for providing the service of acting as a finance broker. We specify the fee as part of our communications with You. If You do not enter into a loan offered by a lender or financier within 60 days we act for You we will refund the fee less the £5 brokerage fee provided for by the Consumer Credit Act 1974. Refunds must be requested in writing to avoid repayments being sent to a wrong address. To facilitate Us processing payments and repayments You authorise Us to retain your charge, credit and debit card details. If a lender or financier makes You a loan or finance offer, in addition to the fee We may also receive a variable commission from the lender or financier (more detail is available on request) and You agree that We may retain it.

11. If We provide services other than acting as a loan or finance broker, We shall be entitled to charge a fee for those services.

12. Under Financial Services (Distance Marketing) Regulations 2004 you have a right to cancel your application within 14 days of receiving these terms and conditions and receive a refund. If You wish to cancel your application, You must write to Loan Spotter UK notifying us. In this event We will refund your fee within 30 days of the date on which You write to Us to cancel your application. Any such requests should be made to: Customer Service Department, Loan Spotter, 53 Fountain Street, Manchester, M2 2AN.

Within your 14 day cooling off period you can get a full refund, or if you can wait until 60 days from your application without taking out a loan then your entitled to the full amount minus £5. Don't settle for half, if you let them get away with that they will continue to do so to everyone else in a difficult situation. Contact your bank and ask to raise a dispute as 'refund not received' under the Visa chargeback scheme. Generally they will ask for a refund voucher to prove it was offered in the first place, but if you explain the situation they may be able to help...the banks are more aware of these loan brokers than you may think

Mabobbo

I pretty much asked for a refund 10 minutes after they took the money but they are being so difficult [text deleted by MSE Forum Team] I hate calling as well because their 0844 number costs a bomb but I refuse to give up! I will get my money back!

Has anyone else had dealings with this company? [text deleted by MSE Forum Team]

Apples2

Mabobbo wrote: »

I pretty much asked for a refund 10 minutes after they took the money but they are being so difficult and to top it off, they talk to you like your scum off of their shoe! I hate calling as well because their 0844 number costs a bomb but I refuse to give up! I will get my money back!

Has anyone else had dealings with this company? I'd love to hear some stories how people dealt with these horrible people!

Can you read the post above yours?

Nowhere did it say use a telephone, it is pointless. How much money are you going to spend on calls?

Mabobbo

Apples2 - I only called that day and I have followed procedure since. I've not been calling since. I'm not wasting anymore of my money. Like I said before, I've written a letter to them and I always let them call me.

TheMoney

I haven't dealt with any of these loan brokers, but I'm extremely familiar with them. Even though their own T's&C's state you can have a refund, it will be difficult. If your persistent though, you will be rewarded, and you'll also be keeping your money out of their pockets

BayleySG

Hello,

I have also just applied for Loan Spotter, halfway through the application, I gave them my details after being "accepted". I then thought it seemed alittle too quick so whilst on the phone to them, I search them and came across the many threads on here regarding LoanSpotter. at which point I canceled my application with them. The girl I spoke to said that all my details have been removed from their system and upon asking about if any money will be taken from my account I was disconnected ( I think she hung up on me). I have sent Loanspotter an email asking them to clarify if any money will be taken from my account and am awaiting a response.

Does anyone know if they will take the money?

Also if I get a new card, won't they then not be able to remove money from me?

Cheers

Bayley (a stupid boy, who used a dodgie company)

iolanthe07

BayleySG wrote: »

Hello,

I have also just applied for Loan Spotter, halfway through the application, I gave them my details after being "accepted". I then thought it seemed alittle too quick so whilst on the phone to them, I search them and came across the many threads on here regarding LoanSpotter. at which point I canceled my application with them. The girl I spoke to said that all my details have been removed from their system and upon asking about if any money will be taken from my account I was disconnected ( I think she hung up on me). I have sent Loanspotter an email asking them to clarify if any money will be taken from my account and am awaiting a response.

Does anyone know if they will take the money?

Also if I get a new card, won't they then not be able to remove money from me?

Cheers

Bayley (a stupid boy, who used a dodgie company)

It isn't helpful having two threads running with the same post.

dealer_wins

Just write it off as experience, unless you have actually got the literacy and patience to pursue a claim in writing!!

Mabobbo

Hi BaleySG! I've just got all my money back but I had to go through my bank and do it as a visa dispute. Call your bank and see what they say. They should be able to help you!

shergarsghost

TheMoney wrote: »

10. We charge a fee for providing the service of acting as a finance broker. We specify the fee as part of our communications with You. If You do not enter into a loan offered by a lender or financier within 60 days we act for You we will refund the fee less the £5 brokerage fee provided for by the Consumer Credit Act 1974. Refunds must be requested in writing to avoid repayments being sent to a wrong address. To facilitate Us processing payments and repayments You authorise Us to retain your charge, credit and debit card details. If a lender or financier makes You a loan or finance offer, in addition to the fee We may also receive a variable commission from the lender or financier (more detail is available on request) and You agree that We may retain it.

11. If We provide services other than acting as a loan or finance broker, We shall be entitled to charge a fee for those services.

12. Under Financial Services (Distance Marketing) Regulations 2004 you have a right to cancel your application within 14 days of receiving these terms and conditions and receive a refund. If You wish to cancel your application, You must write to Loan Spotter UK notifying us. In this event We will refund your fee within 30 days of the date on which You write to Us to cancel your application. Any such requests should be made to: Customer Service Department, Loan Spotter, 53 Fountain Street, Manchester, M2 2AN.

Within your 14 day cooling off period you can get a full refund, or if you can wait until 60 days from your application without taking out a loan then your entitled to the full amount minus £5. Don't settle for half, if you let them get away with that they will continue to do so to everyone else in a difficult situation. Contact your bank and ask to raise a dispute as 'refund not received' under the Visa chargeback scheme. Generally they will ask for a refund voucher to prove it was offered in the first place, but if you explain the situation they may be able to help...the banks are more aware of these loan brokers than you may think

I sent a Special delivery off to Loanspotter to claim back a fee of £54-96p within the 14 day cooling off period under the Financial Services (Distance Marketing ) Regulations 2004. this was sent to the address Loanspotter, 53 Fountain Street, ManchesterM2 2AN. This Special Delivery letter was returned by the Post Office today 12-09-2013 marked 'Gone Away' and dated 28-08-2013. Is this a scam, surely a forwarding address should have accepted this letter, how do I stand please ??