loans direct membership/set up fee

outdoorguy76

I made a great error of judgement looking for a loan on-line and thought i was signing up for a loan with Loans Direct ,but since found out i was signing up for a membership ,i immediately cancelled this ,but they took £69.75 from my bank account anyway ,i have filled in all forms and requested a full refund , all they have offered me back is
£ 49.76 ....they wish to take £19.99 for a set up fee
£1.10 per day for been a member of a site i did not wish to be a member of ,,,,,,,,

this site claims to give a Full 100% refund if anyone is dissatisfied with there service ,,this is a complete and utter lie ,,,
6) Loans Direct operates a scam

Official reply:
"We absolutely do not operate a scam and it is slanderous and libellous to suggest otherwise. We hold a consumer credit license that was issued by the Office of Fair Trading, we have a no quibble refund policy and we deliver a highly valued service to our large base of customer, many of whom come back to us many times to meet their financial needs. If a customer is not completely satisfied with the service they've received they simply need to contact us via phone or email to discuss. Queries of this nature will be dealt within 24 hours and response will be issued over the phone and confirmed in writing."

7) It is difficult to obtain a refund from Loan Direct.

Official reply:
"We have a 100% refund policy for any customers who are unhappy with the service they have received. To discuss a refund with us you are simply required to contact us via phone (08443091936) or email (support@loansdirectuk.net). Our call centre is open Monday to Friday from 8am to 9pm and Saturday 10am to 2pm, we do our best to deal with all refund requests on the same day."

[Deleted User]

Have you phoned them?

DCFC79

Have you emailed them or wrote a letter ?

gb12345

Write them a letter headed COMPLAINT - tell them you want a full refund as per their T&Cs.

If they refuse or don't respond in 8 weeks write to the FOS.

longtermplanner

Deducting a set-up fee is NOT a full refund. Write a letter of complaint as gb12345 says.

You could then sure them in the small claims court, but going to the ombudsman is free. See http://www.moneysavingexpert.com/reclaim/small-claims-court

National_Debtline

Hello there,

The Office of Fair Trading has spent a fair amount of time investigating the business practices of loan brokers. Over the years several firms have been warned and have had their licences revoked or refused. I don't know if this particualr firm has been subject to any scrutiny.

Under section 155 of the Consumer Credit Act 1974, a consumer is entitled to a refund (less £5) of the fee paid to a credit broker if for any reason the consumer does not enter into a relevant agreement within six months of an introduction to a source of credit or hire. As such you should, at the very least, be entitled to all but £5 of your money back.

Best wishes,

David @ NDL.

National_Debtline

Hello again,

I've just undertaken a little more research, and as far as I can see - any cancellation within 14 days should allow for a full refund under The Financial Services (Distance Marketing) Regulations 2004 [Regulations 9 & 10]:

http://www.legislation.gov.uk/uksi/2004/2095/made

Hope you find this useful.

David.

Fishgary

I too fell for Loans Direct UK's promise of a loan however not aware of membership fee of £69.75 until another window popped up after I accepted. I immediately informed them to cancel but they stated this had to be done in writing which I did. However four weeks later I noticed £69.75 had been debited from my account. I contacted them and they stated they never received my letter!! I received only £38.05 back. Have since sent numerous emails and letters without reply. Do not ring as you get nowhere and the customer services person will end up hanging up on you.
I don not understand how they can reply to MSE stating they give a 100% refund plus they stated "We contact members to ask them what lenders they have approached". Complete rubbish. Do not touch this company with a barge pole. I will be speaking to my solicitor about taking this matter further. I certainly feel this company has two faces.

imoneyop

Fishgary wrote: »

I will be speaking to my solicitor about taking this matter further. I certainly feel this company has two faces.

Don't waste money you clearly haven't got on solicitors fees. Post #7 details the relevant legislation and post #4 tells you what to do about it.

Apples2

Agree, don't spend hundreds on a solicitor to retrieve a fiver.