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LondonlawyerJ
LondonlawyerJ, Advocate
Category: Law
Satisfied Customers: 793
Experience:  Solicitor with over 15 years experience.
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Hello, Can you help me please. I (stupidly) applied for a loan

Resolved Question:

Hello, Can you help me please. I (stupidly) applied for a loan on-line from a compamy called City Loans. Their webb address is WWW.cityloans.webstar.com.
They granted me the loan of £500 on Saturday 25th April 2014 over the period of 12 months at £65 a month. I was told it would be in my bank account the same day - it wasn't so I rang the next day only to be asked for £129 to be paid to cash generator for which I'm still not 100% why ( they are Asian gentlemen and I couldn't fully understand what they were telling me ) I paid this sum and was told it would be in my account on Monday 28th - it wasn't. I rang them again to be told I had to pay another £71 to 'round' up the £129 otherwise I wouldn't get the loan, so I paid it. I was told I would get this money back in addition to my loan. I rang again and was told I had to pay a further £100 for PPI, again I paid. Now they are telling me they can't put it into by bank account but would deliver in person to my door tonight by 7pm but want another £100 to do so. I told them enough is enough and I want my money back. They told me I have to pay £75 cancellation fee! I told them I will not pay them any more money and that by law a person has a period of 7 days 'cooling off period' in which to change their minds - am I right in saying this and what can be done to get my money back lawfully. Their telephone number is 01515 289231 and I've spoke to 3 people: Harry, Roderick and James.
I know I have been very stupid but please can you help?

Kind Regards

Julie Bates
Submitted: 2 years ago.
Category: Law
Expert:  LondonlawyerJ replied 2 years ago.

LondonlawyerJ :

Hello. I am a solicitor with over 15 years experience. I will try to help you with this.

Customer:

Thank you so much

LondonlawyerJ :

So you are £200 out of pocket and appear to have been the victim of a fraud.

LondonlawyerJ :

I am just having a look at their website.

Customer:

I'm actually £365 out of pocket :( and yes, it seems so

LondonlawyerJ :

This sounds like a classic scam in that they asked for money from you before forwarding you the loan funds. This link may be helpful to you. http://www.uknetguide.co.uk/Finance/Article/Beware_of_loan_scams-101158.html There is alink to an OFT service where you can search to see if a company has a valid creit licence. I searched n this and got a "no results" response. In terms of what you can do if they are a legitimate loan company but have inflicted bad practice on you then you could turn to the trade body or ombudsman for help or bring a small claim against them. If as seems more likely they are criminal fraudsters then you should contact action fraud (http://www.actionfraud.police.uk/) to instigate a police investigation.

LondonlawyerJ :

By the way I don't think it was stupid of you to apply for a loan at what no doubt looked like a regular loan company, these people are exceptionally devious.

LondonlawyerJ :

I would be grateful if you would take the time to rate my service to you. This will not close the question and I will continue to answer further questions.

Customer:

Thank you, XXXXX XXXXX feel very stupid though, but thank you for your advice.

Customer:

My husband is out at the moment, he'll be back around 8pm and may have some more questions for you, is it ok if I keep this link open until then?

LondonlawyerJ :

Yes it is.

Customer:

Thank you. If I rate the question now, will it close the link or should I wait until later?

LondonlawyerJ :

it will not close the link, the question will stay open and we will still be able to chat.

Customer:

'oh, it's just that it says 'rate below to finish or reply' I will rate it as you've helped enormously but I'll wait until later if that's ok

LondonlawyerJ :

that is fine

Customer:

thanks :)

LondonlawyerJ :

I will be away from this site for a while now but will look again later.

Customer:

Hello again, Mu husband is back now but he doesn't have any questions for you, however, I do have another question, they gave me two bank account numbers to transfer money to - Lloyds and Barclays - is it worth going to see them to try to re-coup my money?

Customer:

Hello again, My husband is back now but he doesn't have any questions for you but I do have one more question. I have the two bank a/c names & numbers they gave me to transfer the monies to, would this help my case?

Customer:

Hello, I've contacted action fraud as requested and filled out a form online

LondonlawyerJ :

Good hopefully some effective action can be taken. There is no harm in contacting the banks but I very much doubt anything useful will come of it. Banks have shown in recent years a willingness to happily work for unsavoury characters.

LondonlawyerJ, Advocate
Category: Law
Satisfied Customers: 793
Experience: Solicitor with over 15 years experience.
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