Loan rip-offs?

[brakkers]

Have applied for a loan with a company. Originally I applied through the internet but after a barrage of mail and many phone calls they took �30 from me and said that I'd have a loan in 2 weeks. Since then all I have been given is lots more phone calls from other companies giving me advice on how I should spend the money I don't have, an inbox full of spam emails and had a door-to-door salesman trying to offer me a loan. Is that what I paid my �30 for? Are there any loan companies out there who aren't dodgey??? [Edited for legal reasons - AB Editor]

[Oneeyedvic]

Check also watchdog's web site. [Edited for legal reasons - AB Editor]

 

 

[brakkers]

I cant believe that people can do this! It seems totally unreal that in this day and age of European centralised government, regulations and subsidies; that someone can set up a bogus company and host a website which is there only to unscrupulously extract money from despirate people. I have emailed the FSA and spoken to a lady at watchdog - I am not going to let them get away with this!!! [Edited for legal reasons - AB Editor]

[AB Editor]

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[Didwot]

anstyeg's answer highlight the problem. If you are credit worthy then you can get a loan from a reputable high street lender. If you are not creditworthy you will be driven into the arms of secondary lenders who will charge high rates of interest that you cannot afford, assuming that they will lend at all, and indded there are people who, at the approriate rate of interst will lend to just about anyone. If you have to approach an intermediary to find you a loan then you may find that you are paying someone to do something you could have done, or that they simply so not come up with the goods.