loan

[playboy147]

I have recently been accepted for a loan on the 24th of august i have paid the admin fee that was required of �49.50 i was assured that the money would be in my account by the following thursday it was not, i phoned the company up and they put me through to customer services and sent me a letter saying i've been accepted for a �1,000 loan which i've never applied for it was �800 i applied for and i still don't have the money what can i do?

[scoobydooby]

Can you tell us the company? There's probably loads of us on here today who will be thinking "Oh no, not again".

They are probably brokers rather than a loan company but I'll wait for your reply before introducing you to other threads which will hold your answer.

[yummymummy]

As scooby says, there are lots of questions about this issue posted, and I have put an answer on most of them!

Without knowing the situation, hard to advise 100%, but if they are charging a fee they are likely to be a broker which means they find loans from other companies that may accept you, rather than them giving you the money themselves.

Check out section 155 of the Consumer Credit Act for full details of what they can and can't do with the 'admin fee'.

[memawboo]

Had the same problem and got stung for the same amount its such a con as if you apply for a loan yourself and make several applications you get footprints on your credit file so you take the option you think is gonna save time but they con you its like paying for the privilage why cant they take their fee! after the loan is agreed surely they realise you are not in a position to waste money or why would you be applying for the loan in the first place?? its not rocket science is it?