MY LOAN: Anyone heard of them, help please

[diem23]

Hi Caggers,

 

Last week thursday I was looking around for a payday loan to cover me this month. One company called My Loan came up in the search. I filled in my details, thinking they were asking me my card details to repay a loan, they took £69.99 from my account which has left me dry. I called them to let them know I dont require a company to find loans for me as I am capable of doing this myself, (my loan charge a finders fee) so they emailed me a cancellation form, i filled this out and received a reply saying i would be refunded within 30 days, although I was advised it would be much quicker than this.

I called back today, spoke to a rather rude and unhelpful person who was adamant I won't be getting back my £69.99 until 3rd September , due to them waiting for reports back from their lenders saying I dont want their services. I shouldnt have to wait for this as I have cancelled directly with them. Any help appreciated, I refuse to let companies like this sit on my money!

[diem23]

anyone able to help?

[johnvernon74]

They are a loan matching service, and there website is misleading. However, does say within their terms and conditions what they do. It might be tough but at least they are going to refund it. You could raise a dispute with your bank stating you were unaware they were charging...if thats what you believed.

[diem23]

Their website is very misleading as I did not go to them direct. Ive done research on other review/consumer websites about My Loans and they have quite a notorious reputation for NOT refunding their customers who clearly dont need their services! Phone call to my bank next I think.

[LaughingGirl]

If it was taken via debit card, insist that your bank do a charge back. They'll probably be resistant at first, but stick to your guns.

[diem23]

Hi there laughinggirl. I rang up my bank (barclays) although they were hesitant at first, as apparently they have new "terms and conditions" in regards to dealing with loan brokers they didnt want to refund me any money but I remained strong and adamant that the payment is reversed to my bank account asap. Barclays said they will record this as fraud and refund the money to my account. I need to fill in some forms that they will send in the post. These loan broker companies must be shut down for extorting money out of people it is ludicrous how our details can be passed around to people!