strange loan! help

tania12

hi,
i applied for a loan with advantcredit uk and recieved an email stating it will had been aproved. anyways i rang and told them i no longer wanted it and they cancelled this. this was on monday, i checked my bank today and the money has been credited to my bank yesterday, i went to check my online account and it says i have paid the loan off? what shall i do? will the money be taken back or what i dont want to be charged for something i didnt want and called to tell them and the lady was meant to have cancelled it. i am confused to why my account states ive paid it off yet it is in my bank?

MNM2903

10 Years ago id have said keep it and spend it as you please its their fault. These days id say do the right thing contact them and arrange to pay it back. If its too good to be true it usually is.

Not saying you had the intention of doing that but just incase id make every effort to repay them.

tania12

i have email them to get my account closed and have mentioned that i requested they cancelled it. i am tempted to put the money in my alternative bank but as you know it isnt worth it lol. hopefully they will recall it. but why would my loan online say paid off yet it is in my bank? they would of auto recalled it wouldnt they?

jonesMUFCforever

tania12 wrote: »

i have email them to get my account closed and have mentioned that i requested they cancelled it. i am tempted to put the money in my alternative bank but as you know it isnt worth it lol. hopefully they will recall it. but why would my loan online say paid off yet it is in my bank? they would of auto recalled it wouldnt they?

Don't do this please.
They will use your debit card number to get it back even if you report the card lost. Just tell them to take the loan monies back - keep all correspondence in case of any problems.

tania12

jonesMUFCforever wrote: »

Don't do this please.
They will use your debit card number to get it back even if you report the card lost. Just tell them to take the loan monies back - keep all correspondence in case of any problems.

i have emailed them asking to take it back. but wanted an explanation because obviously they are not very true at their end? i asked for it to be cancelled yet they didnt, im just baffled why it says online that the loan has been paid off? any ideas

DCFC79

A phone call may well get the response you need.

Dont go applying for loans from anyone like advance credit again.

tania12

DCFC79 wrote: »

A phone call may well get the response you need.

Dont go applying for loans from anyone like advance credit again.

no i wont im just baffled

SeduLOUs

They will absolutely want it back. Normally in these situations I wouldn't go out of my way to be chasing them about taking it back (but I certainly wouldn't move or spend the money either).

That said, with this being a loan company, and not a particularly reputable one, I'd probably be making at least one call to point it out in case they decide to reinstate the loan now you have the money - you have evidence you wanted to cancel, but it's still probably going to be less hassle in the long run the sooner you get the money back to them.

tania12

SeduLOUs wrote: »

They will absolutely want it back. Normally in these situations I wouldn't go out of my way to be chasing them about taking it back (but I certainly wouldn't move or spend the money either).

That said, with this being a loan company, and not a particularly reputable one, I'd probably be making at least one call to point it out in case they decide to reinstate the loan now you have the money - you have evidence you wanted to cancel, but it's still probably going to be less hassle in the long run the sooner you get the money back to them.

i have print screened and saved the image of the account stating it has been paid off it they try turning the situation around. i will call tomorrow even though i have emailed them

Gaz83

tania12 wrote: »

i have emailed them asking to take it back. but wanted an explanation because obviously they are not very true at their end? i asked for it to be cancelled yet they didnt, im just baffled why it says online that the loan has been paid off? any ideas

Because payments are often prepared (i.e. put into an automatic queue) a day or two before they're received by the recipient. You calling on Monday (a bank holiday nonetheless) means that Tuesday's payment will have probably already have been arranged.

The company haven't done much wrong. It was you who changed your mind after all.

tania12

well no not really considering the woman on the phone told me that the money WILL NOT be deposited and i will have nothing going in or out of my bank. i literally cancelled about 5 minutes after i recieved the email stating the process had been accepted. therefore i do think the woman should of made it clear if she knew the money would go in and explained about this. i asked if it was going to go in and i quote she said' no as i have cancelled the process and the loan'