payday loan/broker charges arghhh

liverpoolgirl21

hi, im new to this so i don't know if i am posting in right place. I really need some advice, foolishly i applied for 2 payday loans which turned out to be brokers! they are currently trying to take money out of my account up to 5 times a day, i haven't even got a loan so i don't understand why im being charged and now because i don't have the money in my account in getting charged off my bank for going overdrawn. The bank said there is nothing i can do to stop this or reclaim my money. Does anyone have any advice? As i cant afford to have no money as i have a little boy

Tixy

If the are geuine loan brokers then first check the loan broker websites for the terms & conditions.

Firstly there should be an option of how to cancel the agreement with them.

If they have managed to take any money from you for broker fees you'll then likely need to write to them to ask for that to be refunded - again the detail should be in the T&Cs on the accounts.

If you can't find it post the websites you applied to and someone should be able to find them for you.

gb12345

liverpoolgirl21 wrote: »

i haven't even got a loan so i don't understand why im being charged

Because that is what you agreed to when you signed up for their service. It will all be in the T&Cs that you read and confirmed you agreed to :cool:.

I'd suggest you go back to the two sites and re-read the T&Cs and find the bit about cancelling and asking for a refund and then do as they instruct. If they don't muck you around then you'll probably have your money back in a month - otherwise you'll have to make a complain and wait 8 weeks to refer it to the FOS.

In future keep your card in your purse unless you actually want to spend money.