Credit trust secured loan

Kdwelectrical

Hi all,

I've been awarded a business unsecured loan from Credit trust(www.credittrust.co.ukl. As part of the application I paid for payment insurance as part of their requirements. Now I've been asked to pay pay a £549 tax before funds can be released.

Does anyone have any dealings with this company? Is it legitimately asking for this extra payment that they've agreed to refund as they never disclosed during the application process?

With thanks

Kenny Wright 

Ebe_Scrooge

Any loan that asks for an upfront payment screams SCAM in a very loud voice indeed.  Avoid at all costs.

Also, that site seems to be unavailable as of now.  I fear that any "insurance fee" you have paid so far will be long gone :-(  

Kdwelectrical

Sorry its not credit trust its Central Trust. My apologies. Everything seems to be in order regards paperwork and documentation? Thanks

Kdwelectrical

Www.centraltrust.co.uk

Sncjw

Still anyone asking for money before you get a loan screams red flag. 

Sncjw

One quick look at the website and it's a secure loa. Against your home too. 

bargainbetty

If they are willing to refund it, then they don't need it in the first place. You will find it very difficult to get your money back once you hand it over. 

If you search on here you will find people who have had issues with variable rate loans from them, increased payments and charges - it is likely to be a bad idea to use them. Cut your losses now, perhaps? 

k12479

Kdwelectrical said:

I've been awarded a business unsecured loan... 

Can't say I've ever heard of Central Trust, but one thing that raises an eyebrow is you mention an unsecured loan, yet they describe themselves as 'the UK's secured lending specialist' and don't appear to list unsecured lending on their website.