Advice on loan

dunin_now

Just over a month ago I applied for a loan with Vanquis Bank.

I got accepted and received an agreement number and a loan agreement over email saying the funds will be transferred to my account within 3 working days this was the 9th August

4 working days later and still no funds so I call them worried that I had entered the incorrect account details.  After verifying my bank details are correct the guy I spoke to said that on that Friday there had been IT issues and they had issues sending funds out but it will be resolved by the end of the week.  End of the week still no funds.

Cut a long story short it's been over a month now and still no funds.  I've sent statements to prove no monies were received during that time period.

I've been calling every week to have the same conversation that goes like this....

Verifies my identity
Hi I have a loan agreement with you but still not had the money can you help please?
Verifies bank account number
Ok bear with me one moment while I check something with my colleague
*On hold*
Thanks for holding I can see you have called up a few times I have sent your request onto the relevant department. We will be in touch by the end of the week.

The first payment was supposed to come out at the end of last month and I had to request they put a hold on it since I'm not paying for something I didn't receive.

Has any one else had a similar experience like this?
I'm just going round and round in circles and don't know what to do next.

Brie

Have you logged a complaint with them?  

Outline the number of times you have contacted them to get this sorted, the responses of when they would get back to you but didn't, all in nice date order and send it to them titled "Complaint - Financially Disadvantaged by Lack of Response".

Hopefully that will get them moving.

dunin_now

I've found the complaint form and filled it in.

Fingers crossed that will get seen by the right department

Thank you

dunin_now

Just an update on this issue then it can be closed.

They called me today to say my application was affected by the dispersement issue they had and that why I didn't recive any money.  But they are going to cancel the agreement and not progress with the loan now as they are not lending presently.

They said all history of this will be removed from my credit history.  At least I don't have to keep ringing them up to be given the run around any more.