first point money

jim_walters

Just attempted to love in it says no account

jim_walters

I rang them and told them to cancel the account it appears they have

jim_walters

Bank said if u cancel card no more transactions will be made on card they also said nothing pending or has appeared as I did it quick within ten minutes

jim_walters

Really can't afford to lose 89 only have 150 a month to live on

dealer_wins

jim_walters wrote: »

Really can't afford to lose 89 only have 150 a month to live on

But you can afford loan repayments?

jim_walters

Yes as it would of consildated a number of outgoings

Pixie5740

I'm gaetting a faint whiff of troll but just in case you are genuine....

By your own admission you didn't read what you were signing up for before entering your card details...you know the part where First Point told you there were a broker and would charge a £89 fee.

From the front page of their website:

"We are a loan broker and work with a carefully selected panel of lenders to provide you the loan you require including pay day loans, cash loans, credit cards, log book loans and other forms of unsecured credit. The APR is different for each loan type provided. First Point Money Ltd will charge you a one off fee of £89.50 to act as your specialsed finance broker. This fee is specified as part of our communications with You. If you do not enter into a loan offered by lender or financier within the 1 month that we act for you then we will refund the fee less than the £5 brokerage fee provided for by the Consumer Credit Act 1974. Refunds must be requested in writing to avoid repayments being sent to a wrong address and/or getting lost. To facilitate us processing payments and repayments you authorise us to retain your charge, credit and debit card details. With regards to payments set up by debit or credit card we will attempt to take a fee when you make your application. Under the Financial Services (Distance Marketing) Regulations 2004 you have the right to cancel your agreement with us within 14 days of receiving these terms and conditions, you will be entitled to a full refund which will be made within 14 days of receiving your request. If you would like to cancel You must Inform us by writing, please view our Terms and Conditions."

Why are you phoning to get a refund? zx81 has already told you how to get a refund and First Point's own website tells you how to get a refund.

"
We charge a one off fee (“processing fee”) of £89.50 for providing you unlimited access to our unique loan finding service. We do not charge any other fees or recurring fees. We specify the fee as part of our communications with You. By accepting our terms and conditions you are requesting that we provide our loan searching service immediately, and as such we perform our duties under the contract immediately. Consequently you agree and understand that you will therefore not be entitled to cancel this contract by virtue of the Financial Services (Distance Marketing) Regulations 2004 (“the 2004 Regulations”). This is because by providing our services immediately, at your request the contract falls within one of the exceptions to the right to cancel. In the event, however, that we do not find a loan provider for you within 14 days of your application, we will refund your processing fee less £5, in accordance with and as permitted by the Consumer Credit Act 1974. All refunds must be requested in writing to: First Point Money, PO BOX 5457, Manchester, M61 0LF."

So I ask again, why did you phone them?!

jim_walters

I rang them and told them to cancel it as there was no money in the account anyway they have now agreed to remove me from their system and will not charge me any fee so all is well .I am not a troll I came on here for advice it would appear that this forum is not such a friendly place anand phoning them did in fact work

lynz68

And you believe them? ..... Far too many horror stories on here regarding loan brokers.


If I were you I would still be putting the request in writing as there website says you should.

Pixie5740

Did you have to give them your new card details to get the "refund"?