Anyone dealt with peoples loan or my loan now? They have ripped me off!

craighooper14

Hi.
Just wondering if anyone has experience of either of these companies.
They have both taken money from my pre-paid debit card, claiming that they are fees for finding me a loan.
I have not taken a loan through either of these, though i did try to find a short term loan a few weeks back.
I also received a phone call from a company whose name i do not remember, claiming to be a finance provider who could pay my loan, however, during that call, i was guided through an online application, several times over, being asked to input a different promo code each time. With each code i entered, i received more texts from other companies, offering loans and mobile phones, so i hung up on them.

I have tried to contact both peoples loan and my loan now by phone, but had no joy with either, so i have sent messages through both websites asking them to contact me.
Also, the 2 websites are strangely similar and when i have tried to login to both sites, they both claim to have no record of my email address.
Both sites say that i would have received terms and conditions from them, but i have not.
I was only looking to borrow £100, so there is no way that i would have agreed to any fees.
Just wondering if anyone else has had a similar experience and, if so, what the outcome was, or if anyone can offer any advice?

Thanks in advance.

CKhalvashi

They are brokers, not companies.

Follow the Ts and Cs on their site (it needs to be in writing, as in pen, paper, stamp, not email) to get your money back.

craighooper14

Thanks. I have seen the part about applying in writing, however, what i want to speak to them about, is the fact that i have not given them my details, or authorisation to take money from my card.

RichL74

You must have given them your details otherwise how would they have debited your card?

When you click on 'find me a loan now' or whatever the sign up button was, thats when you will have given your consent, harsh though it may sound.

Pixie5740

craighooper14 wrote: »

Thanks. I have seen the part about applying in writing, however, what i want to speak to them about, is the fact that i have not given them my details, or authorisation to take money from my card.

When you went to these companies' websites, you entered your debit card details and will have checked the little boxes that said you agreed to the terms and conditions and hit submit. That was you giving your authorisation for these companies to take membership fees as that's what you're really signing up for...membership.

I imagine that as you wanted to borrow £100 and didn't use one of the established pay day lenders that you were pretty desperate and probably just ticked the box agreeing to the terms and conditions without actually reading them.

If you are struggling to keep on top of your finances and build up an emergency fund then using budget planners like the MSE one:

http://www.moneysavingexpert.com/banking/Budget-planning

can be very useful. They've certainly helped me improve my budgeting.

Clive_Woody

craighooper14 wrote: »

Thanks. I have seen the part about applying in writing, however, what i want to speak to them about, is the fact that i have not given them my details, or authorisation to take money from my card.

If you are waiting for them to phone you, then I suspect you are going to be in for a very long wait now that they have your money (and debit card details).

Write to them to get a refund then learn from this for the future

pvt

The business model for these companies is to gather refundable fees from vulnerable and naive people, and hope that those people will not read and follow their Ts&Cs for claiming a refund.

They will always refund the fees (less an 'admin' charge) if the request is made the correct way (nearly always by letter) following their prescribed process, so they can stay within the law and keep regulators happy.

They thrive on the un-refunded fees from those victims who can't be bothered to claim, or who don't follow the refund procedure and prefer, fueled with righteous indignation, to believe these weasels have a conscience and will respond to their futile emails, online complaints, and phone calls.

Write (pen/paper/envelopes/stamps) if you ever want to see any of that money again.

PeacefulWaters

craighooper14 wrote: »

Thanks. I have seen the part about applying in writing, however, what i want to speak to them about, is the fact that i have not given them my details

Yes you have. They are not going to guess a 16 digit card number.

or authorisation to take money from my card.

Yes you have.

Get out of denial mode. Get into writing mode and do what needs doing. Then, in future, don't be so stupid / naive again.

Trixie_31

Yes I have been dealt the same card, I have had money taken from my account as well. Yes I was naïve but these things happen.

I have contacted the FOS who have advised me they take calls from people on a regular basis in regards to this company. I have spoken to then and my bank. I have written them a letter (My Loan Now) as well to get my money back too.

Contact the FOS, also if you google My Loan Now, there are other threads on money sites regarding this company.

Hope this helps.

DevCoder

Whats the point in contacting the FOS? Not being harsh but the companies are not doing anything wrong even if they are being a bit devious.

Gaz83

Was just going to say that. There's plenty anecdotal evidence on here that the FOS won't touch the case until you've been through the company's refund procedure.