Likely Loans

Jensonj

Has anyone filled out an online application on money supermarket and had money put in their account without signing an agreement. I was accepted by 2/3 companies for loans and Likely Loans transferred £5000 into my account the next day without my agreement. When I called them they said someone had signed the agreement online electronically. I have sent money back but it is still not showing as paid off. Can someone please advise!!

boo_star

There's been no need for a written signature for credit agreements for over a decade now. Ticking a box agreeing to the terms and conditions is considered as good as an actual signature.

So presumably you applied and were accepted, which does not seem at all unusual.

As far as paying it back goes did you just send it back or did you speak to them first and get instructions on how to return it? If you just sent it back it could well be sitting in their account with them having no idea what it's for. Of course if you sent it back a day or two ago they may have just not gotten around to posting it to your loan account yet.

foxy-stoat

If you read the terms and conditions about cooling off period and return the money in accordance with that and write to them, cancel the direct debit you will be ok.

Nice win for you....but NO IDEA why you would apply for a loan with an interest rate of 59.9%.

Samsung_Note2

Jensonj wrote: »

Has anyone filled out an online application on money supermarket and had money put in their account without signing an agreement. I was accepted by 2/3 companies for loans and Likely Loans transferred £5000 into my account the next day without my agreement. When I called them they said someone had signed the agreement online electronically. I have sent money back but it is still not showing as paid off. Can someone please advise!!

Accepted for 2 or 3 loans...blimey mate you cant remember if its 2 or 3...and a loan company has deposited £5000 without your consent.

Please step away from the keyboard and go tell Mum or Dad what you have done....id expect you will be grounded at least.

Dandytf

OP
I'm 2nd year into 3yr Likely loan which I did apply for online and was accepted at that time.
I'm sure I would have agreed to full application before being accepted and issued funds thought it's been some time.

Ben8282

Jensonj wrote: »

Has anyone filled out an online application on money supermarket and had money put in their account without signing an agreement. I was accepted by 2/3 companies for loans and Likely Loans transferred £5000 into my account the next day without my agreement. When I called them they said someone had signed the agreement online electronically. I have sent money back but it is still not showing as paid off. Can someone please advise!!

How exactly did you send it back?
Where is it still not showing as paid off?
Why did you apply for the loan if you didn't want it?

boo_star

Ben8282 wrote: »

How exactly did you send it back?
Where is it still not showing as paid off?
Why did you apply for the loan if you didn't want it?

I can only imagine they assumed that they were thinking they'd be getting a quote but even they say they filled out an application so I really don't know what they expected to happen.