FLM Loans - Advice

[benham3160]

Hi,

I foolishly took out a loan with FLM loans in October 2007, which was an exceptionally stupid thing to do on my part.

 

My payment was expected to go out on 1st October, which was declined by my bank for £151, **edit here for possible defamatory content**

They phoned today, and I explained I could pay them in five days time, and that in fairness they had got a big chunk of the money, it was hardly like I had avoided paying completely. They have applied several charges to my account in the past, and they have whacked on another late payment charge for this month, at £20 plus a £7 "letter fee."

 

Do I have grounds to reclaim these fees, and can I put the account in dispute to stop them making any more changes until I have paid the outstanding amount on the account?

 

Hope this doesn't sound too jumbled.

 

Regards,

Andy

Edited October 14, 2009 by benham3160

[42man]

Here are some details of their consumer credit licence details taken from the OFT website.

 

This may be subject to change and so the details here are as they appeared on the date of this post.

 

For latest info at any time vist the CCA register http://www2.crw.gov.uk/pr/default.aspx and search on licence no. 0557709

 

Application / Licence Details

 

 

 

 

Licence Number:0557709

Licence Status:Current

 

Current Applicant / Licensee:

 

Business NameCompany Registration NumberFinancial Processing UK Ltd4841153

 

Licence Notes:

 

EvtStageOpen DateNotes24Minded To Revoke07/04/2008

 

Categories:

 

Consumer credit Consumer hire Credit brokerage Credit reference agency Debt adjusting/counselling Debt collecting

 

Right To Canvass Off Trade Premises:Yes

 

 

Trading Name(s) (Current):

 

24/7 Debtline Credit Counselling Organisation Debt Help UK Debtline F.P. UK F.P.C. FDM Financial Processing Centre Financial Processing UK FLM Freshstart Freshstart Debt Management Freshstart Mortgages Harvey Sturt Individual Finance MacDonald Wright Morrison Clarke

 

Trading Name(s) (Historic):

 

Freshstart loans Hudson Sturt Hudson Sturt Associates Loan Line

 

Issued Date: 05-Aug-2004

Expiry Date: 04-Aug-2009

 

 

Legal Formation:

 

Body Corporate (incorporated inside UK)

 

Current Individuals that run the organisation:

 

NamePositionCatriona Allyson Patterson Marc John Biles Rachid James Benamor

 

Nature of Business:

 

Credit Agreements/loans (linked) Investment/Financial Advisers

 

Current Address(es):

 

Address TypeAddressCorrespondenceWalton House, 56-58, Richmond Hill, Bournemouth, Dorset, BH2 6EXPrincipal Place Of Business56-58, Richmond Hill, BOURNEMOUTH, Dorset, BH2 6EX, United KingdomRegistered OfficeWalton House, 56-58, Richmond Hill, BOURNEMOUTH, BH2 6EX, United Kingdom

 

Historic Address(es):

 

Address TypeAddressCorrespondenceSuite 4, Richmond House, Yelverton Road, Bournemouth, Dorset, BH1 1DAPrincipal Place Of BusinessGranville Chambers, 21 Richmond Hill, Bournemouth, Dorset, BH2 6BJPrincipal Place Of BusinessGranville Chambers, Richmond Hill, Bournemouth, Dorset, BHPrincipal Place Of BusinessGranville Chambers, Richmond Hill, Bournemouth, Dorset, BH2 6BJPrincipal Place Of BusinessWaltin House, 56-58, Richmond Hill, Bournemouth, Dorset, BH2 6EXPrincipal Place Of BusinessWalton House, 56-58, Richmond Hill, BOURNEMOUTH, BH2 6EX, United KingdomPrincipal Place Of BusinessWalton House, 56-58, Richmond Hill, Bournemouth, Dorset, BH2 6EXRegistered Office16, Bourne Court, Bournemouth, Dorset, BH2 6DTRegistered OfficeGranville Chambers, 21 Richmond Hill, Bournemouth, Dorset, BH2 6BJRegistered OfficeGranville Chambers, Richmond Hill, Bournemouth, Dorset, BHRegistered OfficeWalton House, 56-58, Richmond Hill, Bournemouth, Dorset, BH2 6EX

[42man]

And yes the fees sound excessive !!

[Danjock]

Hi

I also took out a loan with FLM with similar problems,lots of charges .

I have sent a SAR and am awaiting a reply,I will post as soon as I have it.

[tigga_1961]

"subbing" i too have a loan with flm and they wont give any leeway if you having problems and contact your guarantor, I wrote about these last year when i was having problems but never posted my agreement, if i do that now can someone look over it for me please.

I know up till last year their license had been minded to revoke but if its now the case its been fully revoked are they still able to continue as lenders and collect monies owed, watching with interest.

[ihatemybank]

Hi guys,

 

I too took a loan out . Regardless of whether they hold a Consumer Credit License, their Credit Agreement may represent an unfair relationship.

 

1) It does look very much like an application form.

2) Monthly Repayment of 10% of outstanding balance?

3) The Credit Advance contains a Fee and also attracts interest. This is wrong.

4) They wrote to customers informing them that they would only ever be collecting the intereest for future repayments.

5) They advertise it as a short term loan but on the agreement it is classed as Revolving Credit Agreement.

6) There are no other terms and conditiosn which explain the APR variability, timing of repayments. It leaves the Customer wondering exactly just when they are going to finally repay the loan.

 

I am contacting the FSA, to find out if they do have a current license and also complain to the FO and report the poor documentation and the fact that it does not follow Consumer Credit Act regulations means that it leaves the customer with an unfair advantage.

[tigga_1961]

thanks for that info think i will cca them too, not sure if i hold my copy but less they know x good luck

[benham3160]

I'm going to put my one in this morning, I might throw a SAR in too, just to find out exactly what they have been charging me.

 

As part of the SAR, can I request copies of letters that I have been sent?

 

I phoned the OFT with regards to their CCL status, allegedly FLM are currently appealing the decision, so are allowed to trade until an ultimate resolution is reached.

 

I'm sure the more who complain out the unfair terms in their CCA, the less favourably they will be looked upon.

 

Regards,

Andy

[tigga_1961]

I'm going to put my one in this morning, I might throw a SAR in too, just to find out exactly what they have been charging me.

 

As part of the SAR, can I request copies of letters that I have been sent?

 

I phoned the OFT with regards to their CCL status, allegedly FLM are currently appealing the decision, so are allowed to trade until an ultimate resolution is reached.

 

I'm sure the more who complain out the unfair terms in their CCA, the less favourably they will be looked upon.

 

Regards,

Andy

 

hi if you sar them request all details they hold on you including data and telephone calls, they have to give you everything and have 40days to reply. cca on way from me too, bliddy typical the rogues can keep trading innit, i knwo the license was minded to revoke so anyone else reading this get them complaints in to..

[benham3160]

They have treated me so unfairly, it's unreal. They went though a stage last year of debiting loan amounts twice with nothing more than a cursory "sorry, happens dunnit" but if you make a payment three days late, (when they took the majority of the money on the correct day) they really make you feel like a criminal.

 

Not only that, they charge me 59.9% APR, hardly like they are not getting their "pound of flesh" is it?

 

Regards,

Andy

[tigga_1961]

yeah i know what u mean when i first went off sick earlier in the year i asked if i could reduce payments or god forbid miss a month just till i got back to work their reply was if you cant pay it we will take it from your guarantor which is what i signed up for but being self employed my guarantor was struggling to pay his mortgage let alone my loan he had to change his card details to stop them, hence they are such gits on the phone was getting fed up being pestered with texts at 7am to remind me to pay, like who the hell could forget these vultures would love to do em. lets go for the jugular!!!!!!

[benham3160]

Speak of the devil, they have just phoned me....

 

Paraphrased:

"Hi, this is FLM"

"Hello"

"Firstly, sorry for not phoning you back yesterday"

"Okay"

"Can you make a payment"

"No, as I keep telling you, I will phone you, and pay you on Monday"

"Can anybody else may the payment...."

"I'm not entering into that conversation, I will pay you on Monday"

"You will have another charge"

"I will deal with the charges in writing"

"The charges will still stand"

"I will deal with the charges in writing"

 

This continues for a while, with me answering "I will deal with the charges in writiing."

 

"The charges will still stand."

"I will deal with the charges in writing."

"I will phone you on Monday"

"Do not call me, I will call you, and pay on Monday"

"Make sure you do, or I will phone again.... Goodbye...."

 

Put on my very serious "firm" voice too, I dare them to call again before Tuesday now lol

 

Regards,

Andy

[ihatemybank]

To top it off I find it ironic that this company is owned by James Benamor (secret millionaire). I have put a complaint in to him personally regarding my circumstances.

 

His email is james.benamor@postnet.uk.com.

 

Good luck All.

[benham3160]

CCA request submitted recorded post this afternoon.

 

I await it to drop though my door in the next twelve days lol

 

Regards,

Andy

[tigga_1961]

CCA request submitted recorded post this afternoon.

 

I await it to drop though my door in the next twelve days lol

 

Regards,

Andy

 

good on ya cant wait to see what turns up not had time to do mine yet will be winging its way tomorow tho,

 

emailing jb doenst do anything one of his minions will call you quoting everything they want you to hear not listening to what your saying and goin round in circles, been there lol

as for secret millionaire he gave away the least money on the programme and strange how he helped drug fuelled angry teens, now we know who is on the other end of the darn fone lol:p

lets all cca them and see what collectively comes back

[tigga_1961]

cca request sent this morning cant wait to see it again lol, im intrigued hope its as good as welcomes

[benham3160]

This the copy of the CCA I received from FLM this morning:

 

 

It is absolutely illegible, I have phoned them and advised them of this.

 

You can not make out any of the small print, and it's been printed on a letterheaded page, rather than plain paper so it also obscures the stuff printed at the bottom.

 

Any pointers, they have said they will send me out another legible copy.

 

Regards,

Andy

[tigga_1961]

hi benham

didnt take them long to send that out im not very good on the agreements hope someone comes along soon as im sure mine is gonna be same as yours, monthly payments at least are the same...

[tigga_1961]

hi benham, have you had any luck in your fight agains flm, i got similar cca to yours, would love to withold payments but got gurantor to think about grrrr.

[Danjock]

I,ve had a letter back from them saying that my final £200 has been written off and the loan cleared,surely this is an admittance of guilt????I,ll get my scanner up and running and post on here asap.

[tigga_1961]

hi dj great news, what that on the back of the sar? or did u go after them for charges?:?

[tigga_1961]

intersting to note advantage loans are no longer accepting new applications? how do i find out if they still have a licence??

[spammers]

Hi tigs, you will have to look it up on the CCA or OFT website I think.. I will have a look and see. Last time I looked it was minded to revoke and I asked the OFT what stage it was at.. they never did tell me although they acknowledged my request.

[spammers]

Licence Number:0557709

Licence Status:Current

Current Applicant / Licensee:

 

Business NameCompany Registration NumberFinancial Processing UK Ltd4841153

 

Licence Notes:

 

EvtStageOpen DateNotes24Favourable Determination16/11/2009 24Requirement Obtained16/11/2009 24Minded to Impose Conduct Requirement(s)13/07/2009 24Minded To Revoke07/04/2008

[jacobcpfc]

Licence Number:0557709

Licence Status:Current

Current Applicant / Licensee:

 

Business NameCompany Registration NumberFinancial Processing UK Ltd4841153

 

Licence Notes:

 

EvtStageOpen DateNotes24Favourable Determination16/11/2009 24Requirement Obtained16/11/2009 24Minded to Impose Conduct Requirement(s)13/07/2009 24Minded To Revoke07/04/2008

 

Hi Spammers I have a loan with flm what does your post mean?