Film, Media & TV2 mins ago
Advantage Loans
I recently applied for a loan (19-01-05) with 'Advantage Loans'
After a few day's, i received a letter stating that i had been accepted for the requested subject to myself paying 49.50. The amount was sent to the company, and i waited to receive my loan.
A further few weeks or so passed, and again another letter asking me to complete another form, which i filled out carefully.
In the end, they said they could provide a loan if i could supply a guarantor; which i couldn't.
In the end they were unable to provide a loan, and gave me the phone number of another company 'Provident' who didn't respond in any way.
I contacted ADVANTAGE LOANS again to ask when my fee was going to be returned, they stated 'it wasn't going to be refunded , as they HAVE offered me a loan, but with a GUARANTOR.
They have a clause in the contract which says that a Guarantor MAY be required. Although they State that a refund of the fee will be made, if a loan cannot be found. I would advise everyone firstly, to read the Watchdog report. http://www.bbc.co.uk/watchdog/reports/consumer35.shtml
If the highstreeets banks can't find you a loan, no one else will be able to either.
Don't pay any fee's upfront, and research the company first.
I cannot afford to lose 49.50.
I would welcome a response by ADVANTAGE LOANS on how they have changed their policies since the initial WATCHDOG REPORT.
Answers
Nobody has yet answered this question. Once some answers have been given, DarrenWade will be able to select one answer as the best. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.