Unauthorised money taken mwsf.co.uk

gb12345

And the one Apples2 missed off, Loanzoo.

http://www.loanzoo.co.uk/

Cancellation
Under the 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 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: LoanZoo, Beechfield House, Winterton Way, Lyme Green Business Park, Macclesfield, Cheshire, SK11 0LP

Also as Apples said cancelling your card won't work as these are authorised transactions and more my appear. You need to tell your bank that you are cancelling any CPA (Continuous Payment Authority) to the three firms.

Poppops

Pointing out the terms and conditions is great if you are shopping for a loan and reading up on what is the best deal. But the reason these companies are so succesful is that they buy your details from a lender who has declined you, tell you they have found you a loan and that there is a fee involved.

I received a call from a similar company. They told me they had found me a lender and that once I paid the £60 odd 'set up fee' I would be sent a link which would take me to the company's site where I could read the T's and C's.

If you are in serious trouble, it's like manna from heaven and I 100% understand how people get sucked in.

Unfortunately, until everyone understands how these companies work, people will continue to lose their money.

For me though, it's more that they give people false hope that makes them vultures. I didn't even go online. They rang me.

I hope you all get your money back.

gb12345

Poppops wrote: »

Pointing out the terms and conditions is great if you are shopping for a loan and reading up on what is the best deal.

The T&Cs we have pointed out explain how to get back the money that these companies have taken. And were posted to help missmagnum out, as she claimed to have "trawled the net" and not been able to find how to get her money back.

We didn't point out the bits in the T&Cs that explain that the sites take a fee - too late for that, she already knows they do that.

leecthompson

Had the same problem with both of these companies. I hadn't visited either moneywarehouse or loanzoo or even heard of them and they've both taken money from my account. I hadn't previously applied for money through any broker, only directly to lenders so all I can think of is that one of them has something very sneaky in their T&Cs. Anyway currently going through the painstaking process of trying to get a refund, which is made more difficult because a refund won't be able to be processed through the card which it was taken as I had the debit card cancelled to prevent these companies from taking more money (I'm now aware that even this isn't 100% guaranteed to stop them), so I've had to write to them requesting to be refunded via cheque or an alternative method. I've emptied my account completely and will be moving bank completely once I've dealt with this. I can see the whole process getting messy they come across as total cowboys. I was on hold to loanzoo the other day for 30 minutes waiting for an answer and then somebody picked up the phone and hung up without saying anything. I then immediately rang back to get an automated 'offices closed' recording, 15 minutes before they actually say they close. Professionalism at it's finest.

Bigredbus_3

As always on the face of it all looks staright forward, they do take a fee but do it thru a series of links to lenders and are basically going to do it any regardless of the progress of the loan. the process it the second they have the info to do so. there is no reason to use a broker just go direct to lenders.

there ts and cs offfer a refund which isnt easy to get and they dont offer any explanation why they take it before you are aproved which is moraly a better practice.

the refunds arent easy to get so dont mess about - do both email and letter as both are accepted , tell them exactly the time frame the should pay it back but they should know that , if its not in on that day go straight to the fos and copy in money warehouse.

if it was up to me the owner woulkd be arrested and made to account for absolutely every detail of there practices for every single person no matter how long it took.

dustbug69

Today ive commenced a small claims court action with MWSF after they took funds unknowingly to me making my capital one direct debit rebound and giving me charges in excess of £30 and I have added this to my claim form. I did email them for originally just a refund and I didnt even get a reply from them apart from an automated response, i only inquired for a simple £100 loan for one week to get a tyre and they charge me nearly £40 for the pleasure. i will keep you informed of my claim £40 fee re-credit--£32 bank an CC fee charges and my £25 court fees.
Ive also sent some information to BBC watchdog as this type of "service" is all news lately.

DCFC79

dustbug69 wrote: »

Today ive commenced a small claims court action with MWSF after they took funds unknowingly to me making my capital one direct debit rebound and giving me charges in excess of £30 and I have added this to my claim form. I did email them for originally just a refund and I didnt even get a reply from them apart from an automated response, i only inquired for a simple £100 loan for one week to get a tyre and they charge me nearly £40 for the pleasure. i will keep you informed of my claim £40 fee re-credit--£32 bank an CC fee charges and my £25 court fees.
Ive also sent some information to BBC watchdog as this type of "service" is all news lately.

£100 for a tyre, don't you budget for things like that ? Should be putting money away for things like that.

imoneyop

dustbug69 wrote: »

took funds unknowingly to me

Probably happened after you unknowingly entered your card details on their site and unknowingly agreed to them taking money from your account.

dustbug69 wrote: »

I did email them for originally just a refund

Did the T&Cs that you agreed to tell you to email them for a refund? If so and they didn't refund you then forget wasting money on small claims and complain to the FOS - it's free, so you won't need to get a loan to pay for it.

BillJones

dustbug69 wrote: »

I did email them

Why would you do that when they clearly state that for cancellation you must write to them? This means a letter, on paper, posted into a post box.

I susppect that you'll not win any court case if you've not followed the clear instructions for cancellation.

As others have said, you gave them your card details, you clicked a box to say that you'd read the terms and conditions (were you lying at that point?), and so you authorised everything that then happened.

dustbug69

I have mailed them too signed for, no response other than a delivery date. I also unticked the box against them forwarding my information to 3rd parties which they have done so.