Loans Direct - how is this legal?

Pixie5740

Hrh_Fish wrote: »

SO THE POLICE ARE LYING TO ME THEN GAZ. MY CARD WAS NOT SKIMMED. I NEVER LET ANYONE TOUCH MY CARD AND I ALWAYS COVER MY HAND WITH MY WALLET WHEN USING ATM'S.

I reported it and the info I am relaying is what I was told by the police.There is no way I would agree to paying for a loan application or brokers fee.I have not given my details to this company either.

Hey I am having a bad day and dont want to get in an argument.You are probably a nice geezer and you've caught me on an off day. I am a Musician/Comedian and I am influenced by Mark Thomas.(Remember his chanel 4 show). I am doing a piece on pay day loan companies and researching heavy into the subject. I am going to name and shame companies like this and go through all the scams these guys do and release it on line.

Police have advised me to get another bank account as I could get hit again so I am a little bit !!!!ed off at the moment brov.These people profit on the suffering of others and the payday industry needs to be regulated.Villains do not need to be loan sharks they just set up pay day companies instead.

I have genuinely never heard of this company and I think they got my details from a third party.This is just inspiring me more to get the story/report finished.This is syncronisity spooky isn't it ......

The police aren't necessarily lying to you but they're wrong. The payments these companies take isn't for a loan it's the cost of becoming a member. There is an initial joining fee followed by a monthly fee. That's what people are paying for...membership.

When people enter these card details into the site they tick the box saying they have read the terms & conditions which clearly state this is a membership service. A Continuous Payment Authority (CPA) is set up on the card so that the joining fee can be taken and then the subsequent monthly membership fees. If there's no money in the account at the time of signing up the CPA allows the broker to keep trying to take the membership fees until they successfully take a payment.

In addition to speaking with your bank's fraud department you should also get them to check if there is a CPA in place otherwise more money could be taken from your account.

I wonder what 3rd party sold on your card details.

MitchellJ

EastgateAndy wrote: »

They tout for business through mobile phone texts. If you follow the embedded links, you get drawn into entering details confirming you're identity. You may then get a loan offer, at which point you will see (if you look close enough) some small-font text at the bottom of the page detailing a one-off fee.

I did, and cancelled the application. Now I get a text (while the customer services office is closed for the weekend) telling me they've taken the nearly £70 'membership fee'.

They claim this is all transparent of their T&Cs. It isn't. If you use the website via phone, you are led into form-filling. Even if you cancel the application they use the data you have already entered as proof you became a 'member'.

So how is this legal in 2014?

Hello,
This might happen because most people unable to check the authority and credibility of the lenders. In fact, they ignorantly choose brokers for quick cash and fall victim to such things. This is the reaosn it is important to understand the background of the company before furnishing any financial details. Because it can create huge problem and one may lost valuable money from their accounts.

It has been observed that people neglect direct lenders because of their procedure, but the matter of the fact is that their procedure is quick and simple and any one can borrow money for them. If you think you are able to repay your loan in an efficient manner, then you must find a direct lender in your region. It will give you complete peace of mind and comprehensive security of the loan.

7upking

Hi, I've worked at Loans Direct also known as Loan Spotter.

What happens is you enter your details online a customer service agent will ring about a recent enquiry online and proceed to do a loan application with you on the phone get you "accepted" then proceed to tell you that they need to "finalise and secure your loan" asking for your card details and will then tell you they are going to "finalise and secure the loan for you and the finalisation payment is £59.86"

Obviously some people are happy to do that, because they have actually been approved for a loan. The company isn't like a broker where they charge the fee and go out and find a loan they find the loan then charge the fee.

Once it's all finalised and secured there is a tick box afterwards for the agent for the "credit cleanser" which the agent gets told to click yes to sign the customer up for it. To be honest I tick the no box because it's obvious people are struggling enough at the moment that is why they ask for a loan they don't need to be paying £9.99 for something they don't need.

matttye

If you enter your card details, it's because they want to charge you money.

The only information someone needs to send you money is your account number and sort code.

They need your long number, expiry date and last 3 numbers of the back of the card to charge you.

Correct me if I'm wrong but I'm pretty sure you can't send someone money using their card details... so the only reason these would be requested is to charge the card.

Just think about the information being requested and how it might be used!

Pixie5740

7upking wrote: »

Once it's all finalised and secured there is a tick box afterwards for the agent for the "credit cleanser" which the agent gets told to click yes to sign the customer up for it. To be honest I tick the no box because it's obvious people are struggling enough at the moment that is why they ask for a loan they don't need to be paying £9.99 for something they don't need.

Credit cleanser? What the hell is that? Is that a euphemism for "account skimmer"?