Microlend

[hammyhound]

Friend applied to this company for a payday loan. They declined her and took £3.50 out of her bank account for the privilege. They say it is in their terms and conditions. Can someone point me where it says we will take out an administrative fee of £3.50.

Appalling

[hammyhound]

Found it in the terms and conditions. Nothing she can do. How much money are they raking in by declining people.

[Bigkahuna]

Usually these payday loan companies take anywhere between 1p and £1.00 from your account to verify that your debit card is active on application. Never heard of the £3.50 being taken on application.

[sillygirl1]

Your best bet is a complaint to Trading Standards about this unfair clause, a lot of these PDL companies love to shout FRAUD when somebody can't repay them but are quite happy to commit the offence when it suits them - there isn't any legislation unfortunately to stop them doing this.

 

You can also contact MP Stella Creasey - MP for Walthamstow who is actively campaining against PDL companies and let her know about this nasty little sharp practice.

[hammyhound]

It is in black and white in the terms.

 

If your application is successful £3.00 will be taken off the loan account.

 

Shocking practice really. I understand 1p to £1 for pre-authorisation to check your debit card is correct but certainly £3.50 for an admin fee when the loan decision is automatic within seconds so therefore no admin is done.

 

I will ask my friend to complain but if it is in the terms and conditions I am afraid nothing can be done.

 

HH

[sillygirl1]

That is where you are wrong - the Unfair terms and conditions in consumer credit act was put into place to counter this type of sharp practice - things CAN be done.

 

Trading Standards needs to know about this, it is in the same area as charging a % for paying by debit or credit card.

[hammyhound]

https://www.microlend.co.uk/privacy-policy/

 

Here you go - do I report to their local trading standards.

[hammyhound]

Hello guests if you are Microlend care to tell us why you are charge £3.00!!

[hammyhound]

Sillygirl is there anything I should quote in my email regarding them charging this extortionate fee

[sillygirl1]

You report to this website

 

http://www.tradingstandards.gov.uk

 

The complaint is then dealt with accordingly, it would be YOUR trading standards as the offence happened there.

[sillygirl1]

Whatever has annoyed you about dealing with them, they should make it clear on the first page of the website about this 'fee', as do loan brokers now have to state they charge £69 or whatever for looking for you.

[nataliedickinson]

How about this one.. I have no agreement with microlend, but they accidently pay £135 into my account! Get a call at work from some1 called David, the abuse and language was horrendous! I checked my banking, saw the payment arranged for it to be refunded back. Wasn't good enough, as the bank says it takes up to 5 days, he wanted it back there and then! I refused, this could have anything!! I have today had to report this company to the police for harassment! This company/man is disgusting! I did nothing wrong and it really was terrible! Stay away from microlend!

[nataliedickinson]

Ps he only used google to find my work details do shows how these people work! He kept saying to me that as I have no agreement with them I was a thief and that he would deal with this how he saw fit and whatever manner he wanted!'

[Bigkahuna]

Ps he only used google to find my work details do shows how these people work! He kept saying to me that as I have no agreement with them I was a thief and that he would deal with this how he saw fit and whatever manner he wanted!'

 

Why is your work details so easily accessable on Google if you dont mind me asking?

[nataliedickinson]

Why is your work details so easily accessable on Google if you dont mind me asking?

 

I'm listed as someone's PA on our website and I come up on the first page or so. Its easy to find the telephone number if you put my name and city in. Annoying but nothing I can stop.

[Bigkahuna]

Thats a pity as it leaves you open to abuse like you say from people like this having your personal information so easily accessable.

 

There are proper channels you should follow to make the correct complaints regarding Microlend and the abuse that you recieved. He will be regulated like every other loan company and you should complain to The Financial Ombudsman over his conduct.

[nataliedickinson]

Thank you. It is annoying yes.

 

Dont worry, this guy/company is getting reported to as many people as possible. The police are actually involved now as I logged a harrassment charge. They have actually taken it quite seriously and told him he has to leave me alone and not contact me in any way. Im still angry that people think they can treat people like this and still have the ability to carry on. This company is just an absolute sham.

 

Thanks

Natalie.

[sillygirl1]

As you now have the police involved you MUST MUST MUST let the Office of Fair Tradng and Trading Standards know about this, it is crucial to getting this company closed down. Remember PDL companies are hgh profile with the OFT at the moment so your complaint will be vitally important.

 

http://www.consumerdirect.gov.uk for the Office of Fair Trading

http://www.tradingstandards.gov.uk for Trading Standards

[nataliedickinson]

Will do Dont worry, i will give them all the info the Crime Reference number. Everything. Will keep you updated.