Unregistered payday loan firms - specifically sms-fast-cash.com

adamwantsadb9

I have been searching the forums and Google for an answer to this but so far failed so I'm hoping someone here can help

I, like many others I've found, have been getting harassed by a firm called SMS Fast cash or something similar and they bombard people with texts from multiple various numbers so you can not simply block them.

However they are unregistered, unregulated and it is impossible to find legitimate contact details for them.

My thought is this... If you take a loan from an unregistered and unregulated loan provider:

1) are you under a legal obligation to pay it back?
2) can they report your repayments (or lack of) to the credit reference agencies?

My thoughts are to hit these people where it hurts.
If 100 people took out their maximum loan of £750 and then used a loophole to say it's an illegal loan and not pay it back, that would surely put them out of business with a 75k loss or at least bruise them and maybe stop them sending out 6-7 texts a day to thousands of people!

dealer_wins

You will find they will debit your card with a broker fee/admin charge etc and you will not actually get a loan!!

CHR15

Incredible that someone is even considering handing out bank details in response to a random text message.

rizla_king

Its a fake loan site set up to phish for peoples bank and card details. You will never ever get a loan but might find you bank account emptied or details sold across the Internet.

Even the domain name is registered using an anonymising company, which just screams..

SCAM!!!!!

DCFC79

Dont even bother, just delete the text or block it using 1 of the apps for smart phones.

spearmintsorbet

Also will really help to google the telephone preference service and sign up for mobile and landline (if not already done)- this should reduce at least part of the coldcalls and spam you receive. Also on the TPS site (I can't post links but its easy to find) you can report specific messages that violate your request for privacy to the ICO

The_Offside_Rule

CHR15 wrote: »

Incredible that someone is even considering handing out bank details in response to a random text message.

Chris, I am failing to see what help you have given the OP.

Adam. Stay well clear mate. I'd even extend that to 'regulated' payday lenders. Yes they can help in the short term, but they are not seen in a good light on your credit report by future lenders, regardless of whether you pay it back on time or not!

CHR15

The help is trying to convince the op not to hand out bank details in response to a random text message. it's madness.