Advantage Loans?

[Beanie1]

Hiya, Apologies if this is in the wrong forum.

 

My wife applied online at the weekend for a loan and Advantage loans have now written to us advising that they have secured a creditor and all we need to pay is £49.99 to arrange the loan. In the letter there is no consumer credit act or DD guarantee. I am a bit dubious about them asking for an arrangement fee so backed out until I have looked for further advice

 

A quick search on the internet and it seems they are a trading company of CGS Post Net (who?) and there are a lot of negative comments around regarding post net.

 

Has anyone any experience of using Advantage loans or Cgs Post net and are they a company to be trusted?

[surprise]

Its a cunning ply. You pay £49.99 you then receive contact from several companies, you are not actually guaranteed a loan. I personally wouldn't go down this route. You'd be better off finding your own loan company.

[sillygirl1]

Don't fall for this, it will wreck your credit rating with about 20 odd searches in one day.... they are known to be poor at finding the best loan anyway.

 

You will be bombarded with letters, emails and phonecalls about loans where you have to pay a further 'fee' of up to £100 to be 'guaranteed' the best rate.

[Beanie1]

thanks for the replies folks, gonna skip this one I think.

 

A few years ago I would have gone for it, after being a member of this forum and seeing others getting into stuff I think its wise to seek advice before committing to anything.

 

Thanks again

[Forever_hopeful]

Hi I have have just taken a loan out with advantage finance company to purchase a car, however I was told that they would provide a free years suscription to experian at no cost.

I have discovered they have charged me over three hundred pounds for this, added of course to the loan, but was told on the phone that i had to take the subscription to show I intended to take steps to improve my credit rating, is this legal, and can i get my money back...sounds like a new ppi type [problem] for comission?