re Got a consolidation loan? newsletter article

Tribulation

Have just read your article and feel I have to comment about your recommendation of using moneysupermarket.com as an easy price comparison site.

I looked at moneysupermarket.com and did an on-line application to Lloyds TSB through their site. At the time we hadn't decided whether we would go for the loan but applied to see what interest rate etc they offered us.

The next day my wife's mobile rang. Indian call centre (with extremely poor English communication skills even by Indian call centre standards).

"Hello, we're phoning you to discuss your loan application" It was only after about 5 minutes of talking that my wife realised she wasn't speaking with Lloyds at all but another company called UCC (Unsecured Credit Company). She told them she wasn't interested.

During the next 48hrs we received about 20 calls both to her mobile and to our house, people who in a lot of cases were simply rude. My daughter answered the phone while we were out.

Them: "Hello, can I speak to Mrs Joseph please?"
My 15yr old "Sorry she's not here at the moment"
Them: Put phone down without saying thanks/bye or anything.

Over the course of the next few days the calls still kept coming. Every time I answered I said I wasn't interested and asked them to stop calling. We went to moneysupermarket on the 23rd April. The calls keep coming. May 10th there was an answer phone message left from `Welcome Finance`, the following day I received yet another call from UCC overseas call centre asking to speak to my wife. Again I said we weren't interested and to stop calling us. 10 mins later I received another call from them, it went something like this.

Them "Can I speak to Mrs Joseph please"
Me" are you a financial company trying to get her to take out a loan"
Them "This is the Unsecured Credit Company, we have a special offer for Mrs Joseph"
Me, staying polite "I'm sorry but I've asked you to stop calling us, my wife isn't interested in a loan"
Them "This isn't a loan, it's a special offer from the Unsecured Credit Company"
Me "Sorry she's not interested, can you please stop calling us"
Them" We have a special offer from the Unsecured credit Company for Mrs Joseph"
Me "I've told you, she isn't interested in a loan"
Them ""This isn't a loan, it's a special offer from the Unsecured Credit Company"
Me "I'm going to stop talking now, could you please stop calling us"
Them "We will sort that out for you sir"

When my wife got home, she had one missed call on her mobile from, you've guessed it, UCC.

I sent off a complaint via email to moneysupermarket.com, this is their response

"Thank you for your email regarding the loan application made to Lloyds
TSB.

I agree that it is unacceptable that you have received these calls, I
can however confirm that they are not as a result of
Moneysupermarket.com passing on your information, as this is not
something that we do.

Lloyds TSB are affiliated to Blackhorse Finance, meaning that if they
are unable to assist you they will pass on your details.

I hope this information proves useful in stopping these calls."

Apart from the fact we've decided to re mortgage and not go for a loan, we never heard a single thing from Lloyds. Don't even know if they ever received our application or not. We saw an independent mortgage advisor, the conversation went something like this.

Me "Initially we were thinking about getting a loan and did an enquiry on moneysupermarket.com"
Him "Let me guess, you've been inundated with phone calls from every company under the sun"

I posted my experience on another site and one of the responses I got was

use them all the time for insurance and after the first time i learnt to put in a dummy number eg 077777777777 due to the calls i got it was horrendous

When looking at borrowing a sum of money at a standard rate of interest, the last thing people need is to be bombarded with calls from overseas call centres, trying to pressurise you into taking out loans at extortionate interest rates of over 50%

Dylanwing

My Experience - I went on Moneysupermarket, was pointed to a broker (I think it was UCC) and filled in an application. Next day had a call from Black Horse, went to their office and got an excellent deal. Over the next few days I had a few calls from other Companies, so I politely told them I was sorted. The Broker called and I thanked them. I had a few letters offering loans, I phoned the reputable Companies to say I was sorted and binned the junk from the sharks.
Was I lucky?