Hidden loan broker fees

Apples2

bigbadbillyboy wrote: »

SORRY but alot of these people havent a clue what they are talkin about .unless you have got a loan via the links theyve sent you , you WILL are ARE entitled to your money back. I received a cheque this morning for the £44.99 they took from me in march. What you will have to do is phone or email THE FINANCIAL OMBUDSMAN( you will have too google it as cant post link. They will ask you to forward them the emails between you and the loan company. Mean while they send them a letter letting them know you are pursuing a complaint. They will then poop themselves and send you out a cheque because if they dont the ombudsman will take them to court and they have 2 pay minimum of £500 pounds cost when found guilty DONT GIVE UP !!! It takes a while for the ombudsman to do their stuff so keep an eye out for the returned email GOOD LUCK !

Some people don't have a clue what they are talking about.

The kind of people who are totally incapable of writing a letter themselves so end up wasting the ombudsmans time writing a letter for them.

Mono2

The more complaints the ombudsman has about these kind of practises, the more likely they are to be investigated.

bigbadbillyboy

Apples or whatever your name is. You are exactly the type of person i mean ! Lol .these companies will ignore your letter as they do emails phone calls etc .the ombudsman has clout and the loan companies will do as there told or face being taken to court and having to pay huge legal fees you dim wit

bigbadbillyboy

Apples probably works for these companies . And they are obviously affiliated with yahoo because i posted how ti get your money back on EVERY post about these companies and theve all been removed ???

Monkeyballs

Eh? Apples has been around on here for ages and has at no point condones or encourages people to borrow from payday lenders or user *spit* loan brokers?

Billy, you had the money taken in March and have just recently got it back... Did you go to the broker site and follow the instructions to either cancel or request a refund? If you had, you may have had it back sooner - even if they didn't the complaint to and action from the FOS would still be the same.

There have been plenty of folk who posted about being "ripped off" who have confirmed they'd had a refund after following the process in the T&C's that they'd previously ignored...

STOP applying for and giving your bank details out to random companies you've managed to find using Google! It may not stamp out the brokers entirely but it'll avoid a lot of pain

MB

Pixie5740

bigbadbillyboy wrote: »

Apples probably works for these companies . And they are obviously affiliated with yahoo because i posted how ti get your money back on EVERY post about these companies and theve all been removed ???

Who is affiliated with Yahoo? Glad you managed to get a refund and now I think it's time to take your meds.

There isn't a big conspiracy going on. Yes these companies have some shady practices but some due diligence from you, and the other members, would mean reading the T&C before entering your card details.

I wish people who reach the level of desperation where Googling bad credit loans seems like a good idea because not even Wonga will touch them, contact Step Change or Christians Against Poverty or some other debt charity.

dealer_wins

bigbadbillyboy wrote: »

Apples or whatever your name is. You are exactly the type of person i mean ! Lol .these companies will ignore your letter as they do emails phone calls etc .the ombudsman has clout and the loan companies will do as there told or face being taken to court and having to pay huge legal fees you dim wit

If people READ the terms and conditions that THEY sign up to, then they would know the contract they are entering.

Yes loan brokers are scum and shouldnt operate, but they operate only because of stupid people who input their card details online to any tom, !!!!!! and harry.

They would shove £20 notes into their internet router, but seem to think giving random sites their card details is different.

sparky78

dealer_wins wrote: »

If people READ the terms and conditions that THEY sign up to, then they would know the contract they are entering.

Yes loan brokers are scum and shouldnt operate, but they operate only because of stupid people who input their card details online to any tom, !!!!!! and harry.

They would shove £20 notes into their internet router, but seem to think giving random sites their card details is different.

The terms and conditions can only be seen if you search the site by their name. This takes you to their hompage where everything is clearly spelled out including the fact that you will be charged a £69 fee.

BUT if you are searching for payday loans or loans and click on one of their links you are directed to a page which has the appearance of a loan application form from a loan provider. This is how the deception works. No one at this stage is aware that they are a broker. No mention of fees is provided on the form that you are filling out. At the end it is made to look like you have the payday loan and bank details are requested. After you have clicked on the submit button you are directed to their homepage and where you realize that you have been caught.

The money reclaim form is also suspect. It has to be completed, signed and posted to them before they will even consider a refund. It is worded in such a way that by filling it in and signing it you are agreeing to them that you are a member and will accept any offer of a refund made by them as full and final settlement. They do not refund you in full and the amount can be as little as £35- if you are lucky.

imoneyop

sparky78 wrote: »

At the end it is made to look like you have the payday loan and bank details are requested. After you have clicked on the submit button you are directed to their homepage and where you realize that you have been caught.

When you ticked the little box that says "I agree to the T&Cs", did it not occur to you that it might be a good idea to find the T&Cs (which were probably linked to either right in front of your eyes or at the bottom of the page) and read them to see what you were agreeing to?

sparky78 wrote: »

It is worded in such a way that by filling it in and signing it you are agreeing to them that you are a member

That will be because you are a member, you ticked the little box to apply to join their "club" or whatever they are calling it to try and get around the rules.

sparky78 wrote: »

They do not refund you in full and the amount can be as little as £35- if you are lucky.

And what did you do when they didn't refund the full amount as they legally have to do if you cancel within the 14 day cooling off period? Did you just roll over and look elsewhere for your loan or did you tell them you would refer it to the FOS?