LoansDirect.con
Posted: Wed Jan 29, 2014 1:58 pm
Hello everyone,
In the run up to Christmas I made a speculative enquiry online about some temporary finance, and signed up to Loans Direct, foolishly providing them with my bank details. I received some paperwork detailing a loan agreement which, having regained my sanity, threw straight in the bin. They began bombarding me with loan offers, via text and phone call. The phone calls usually started around 5 seconds after I had switched my phone on in the morning, they like to catch you when you've just woken up as they know in such a state you will be susceptible to coersion into a loan at a 'competitive' interest rate of 47894323% APR or whatever. Having replied STOP to several dozen text messages and told a similar number of organisations to stop ringing me things died down.
One call offering a loan even started with the word 'Congratulations'. I told him to 'fuck off'.
Time passed and my pre-yuletide financial woes went away as a new source of income presented itself, enabling me to earn a steady income, and fulfil my monthly contractual obligations etc.
Anyway today I recieved a text message from Loans Direct saying my account has been debited £69.75 as a membership fee for their brokering service. Checking on line I was somewhat incensed to discover that indeed, the cunts had raided my account. I was aware such a charge existed but it was only ever mentioned in conjunction with a loan so I assumed ( and had no reason to believe otherwise) that the charge only applied if you actually agreed to finance. I rang them up and was commendably restrained as I attempted to recover the money, saying as eloquently as possible that they were taking the piss taking money out of my account under such pretenses. The gentleman on the other end of the phone was helpful enough giving me a link cancel my 'membership' to Loans Direct, and 'apply' for a refund. He didn't actually say i'd get one, and when I asked him whether I would get one he was vague, so I hung up.
Now I consider myself to be a reasonably intelligent person, and I also realise that some people are going to read this and laugh to themselves whilst doing so, but i'm happy to make myself look stupid for two reasons. Firstly while many users of this board are financially secure from years of astute money management, there are many who aren't for whatever reason. Then there are the people who aren't particularly bright, and those who like to live beyond their means etc, and are tempted to apply for online finance. This post is for them.
The second reason is that by writing about it I am able to supress the urge to go out and gamble recklessly in an attempt to recover the money. Online reviews of the company aren't exactly favourable with literally every comment being from people 'duped out of £70'. I'm not saying I won't see some or even all of that money again, but i'm doubtful so I have written the money off. I'm not going to starve without the money, but i'm not exactly overburdened with liquid cash either, so i'm annoyed, but hopefully some people will read this and save themselves the hassle.
If i'm honest it serves me right.
My refund is being 'reviewed' and I am able to track it's progress online so if anything happens i'll update.
The moral of the story today kids is simply 'Don't apply for online finance with Loans Direct.com or any other organisation or broker as you are likely to be charged an exhorbitant membership fee without even realising it, just for the privilege of being plagued with texts and phone calls about loans where you are greeted in a congratulatory manner. And FOR FUCKS SAKES, DON'T give out personal details online especially bank details etc either'.
In the run up to Christmas I made a speculative enquiry online about some temporary finance, and signed up to Loans Direct, foolishly providing them with my bank details. I received some paperwork detailing a loan agreement which, having regained my sanity, threw straight in the bin. They began bombarding me with loan offers, via text and phone call. The phone calls usually started around 5 seconds after I had switched my phone on in the morning, they like to catch you when you've just woken up as they know in such a state you will be susceptible to coersion into a loan at a 'competitive' interest rate of 47894323% APR or whatever. Having replied STOP to several dozen text messages and told a similar number of organisations to stop ringing me things died down.
One call offering a loan even started with the word 'Congratulations'. I told him to 'fuck off'.
Time passed and my pre-yuletide financial woes went away as a new source of income presented itself, enabling me to earn a steady income, and fulfil my monthly contractual obligations etc.
Anyway today I recieved a text message from Loans Direct saying my account has been debited £69.75 as a membership fee for their brokering service. Checking on line I was somewhat incensed to discover that indeed, the cunts had raided my account. I was aware such a charge existed but it was only ever mentioned in conjunction with a loan so I assumed ( and had no reason to believe otherwise) that the charge only applied if you actually agreed to finance. I rang them up and was commendably restrained as I attempted to recover the money, saying as eloquently as possible that they were taking the piss taking money out of my account under such pretenses. The gentleman on the other end of the phone was helpful enough giving me a link cancel my 'membership' to Loans Direct, and 'apply' for a refund. He didn't actually say i'd get one, and when I asked him whether I would get one he was vague, so I hung up.
Now I consider myself to be a reasonably intelligent person, and I also realise that some people are going to read this and laugh to themselves whilst doing so, but i'm happy to make myself look stupid for two reasons. Firstly while many users of this board are financially secure from years of astute money management, there are many who aren't for whatever reason. Then there are the people who aren't particularly bright, and those who like to live beyond their means etc, and are tempted to apply for online finance. This post is for them.
The second reason is that by writing about it I am able to supress the urge to go out and gamble recklessly in an attempt to recover the money. Online reviews of the company aren't exactly favourable with literally every comment being from people 'duped out of £70'. I'm not saying I won't see some or even all of that money again, but i'm doubtful so I have written the money off. I'm not going to starve without the money, but i'm not exactly overburdened with liquid cash either, so i'm annoyed, but hopefully some people will read this and save themselves the hassle.
If i'm honest it serves me right.
My refund is being 'reviewed' and I am able to track it's progress online so if anything happens i'll update.
The moral of the story today kids is simply 'Don't apply for online finance with Loans Direct.com or any other organisation or broker as you are likely to be charged an exhorbitant membership fee without even realising it, just for the privilege of being plagued with texts and phone calls about loans where you are greeted in a congratulatory manner. And FOR FUCKS SAKES, DON'T give out personal details online especially bank details etc either'.