Advantage Loans

[DarrenWade]

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.