Hidden loan broker fees

lizhealy

Sabbathdei what I find bizarre is that someone who has nothing to contribute in a positive way continues to post sarcasm. For me it has little effect, only those I respect can offend me. But I am sure many come to this site seeking advice and support when they are going through a tough time and feeling some what down. I thought I would share my experience of the last 24 hours for others who are in the same situation. Only to be asked if the crime was me wasting police time. This guy in my opinion is a jackass and I feel sorry for any person who is down because of money issues having to contend with him.

opinions4u

lizhealy wrote: »

opinions4u What part of I declined a loan did you not understand? you are coming across as a very lonely man.

I really don't get where you're coming from with this statement, but if you want to trade insults fire away.

You have, it appears, scoured the internet seeking a loan. You bang your debit card details into a web site in the belief that a loan will materialise.

You don't read the terms and conditions, get charged, and then contact the local nick to pursue some sort of criminal action against over what is clearly a civil dispute that could be resolved by you pursuing a refund in accordance with the T&Cs that you didn't read.

Plod dishes out a crime reference number, offers a legal opinion that is, frankly, nonsense, and you come on here throwing insults around when all I was doing was trying to establish the facts.

These firms prey on the reckless and stupid. They charge you a fee and find you a loan (which is never going to be worth having). It's an unpleasant business model but it's not illegal.

You have time to find these firms online. You have time to get personal with somebody trying to establish exactly what's happened. You gave time to stick your card details into their web site and then act all surprised when they charge you.

You'd be better spending your time budgeting to ensure you don't need credit.

gb12345

lizhealy wrote: »

I explained on the phone today to a police man exactly what happened, he said I was a victim of mispresentation and a broker is only allowed to request fees after a loan has been agreed.

Yet more evidence that any idiot can become a policeman - they've obviously lowered the entry criteria to "has a pulse". He should stick to handing out speeding tickets.

Here's what the OFT have to say about Broker Fees

The Consumer Credit Act limits a credit broker's charges to £5 if, following an introduction to a lender, an agreement is not signed within six months. If more than that has already been paid, brokers must refund the excess on request.

You can tell PC Einstein that he can read the actual CCA here http://www.legislation.gov.uk/ukpga/1974/39/section/155#commentary-c1880482 - might stop him from telling members of the public total crap in future.

As others have said, the broker told you their terms, you agreed to them and gave them your card details so they could take the agreed fee. Their T&Cs may entitle you to refund, but they are fully entitled to hold on to your cash for 6 months in case you do decide to take out the loan they found for you.

lizhealy

opinion4u I came on here to relay my experience for others who may be in the same situation. You can dish out insults, but then complain when one retorts.I did what I intended to do, to me I made a silly mistake that will not effect me to others it could mean the difference between eating or heating. But I have no doubt you will always be ready to remind those people how stupid they are while those with logic and reason would prefer to try and give them positive advice. As for you saying this----> You'd be better spending your time budgeting to ensure you don't need credit...... I was checking out for a loan in a panic 3 hours after being told that my mother in Ireland was not well just in case I need to fly home, I do a good job managing to keep my head above water on the whole but was not prepared for that news,so do not presume that everyone is as wreckless in their lifes as you are with your words. Now goodbye to you I have no wish to continue reading or responding to anymore of your irrational posts.

DCFC79

Liz the channel to get your money back is to write to them at the address in the t&c's and it does work as people have got the money back, you dont involve the police as its nothing to do with them plus your wasting their time.

If you want a loan try your bank, if they say no then other lenders may well say the same.

lizhealy

gb12345 The amount went out of my account since posting today and my bank has opened a dispute and says they will put the money back in my account by Monday, but say I may lose it in the near future if the company can justify they were valid in taking it also why were two amounts taken out? I only went into their site once and did not click the accept tab. As for the police man all I can say is he was very helpful to me, I got several numbers from him one for telpreference I think it was called, to get a block on some of the many companies now ringing me and equifax to double check my bank details were not used to purchased goods. As for the law on this I presumed at the time he was correct but realise now he was not or I may have misunderstood what he was saying. I did get a crime ref number from him that starts with the letters nfrc. Anyway I am no longer annoyed about it,prefer to learn from it, life too damn short. Thank you for your post.

opinions4u

lizhealy wrote: »

opinion4u I came on here to relay my experience for others who may be in the same situation. You can dish out insults, but then complain when one retorts.

If you want to take it as an insult, fine. Read what I put though. Plod was most certainly the target of anything I typed.

gb12345

lizhealy wrote: »

why were two amounts taken out?

1 amount you wiill probably be able to get treated as an unauthorised transaction - the other, as your bank told you will likely be challenged by the broker on the basis that you agreed to their T&Cs. If you want that payment back then you need to do as DCFC79 says and write to them as per their cancellation instructions in their T&Cs (some make you wait the full 6 months and then keep the £5 they are entitled to - others offer a full refund in the first 14 days)

DCFC79

Im surprised plod even took an interest in it as its civil matter.

Sabbathdei

Let this be a lesson to you to stay away from websites called things like oneborneveryminute and WeBuyAnySoul dot com.
There are dozens of better places to go for a loan.