Anyone Heard of Ladder Loans?

[mightyblues78]

Hi everyone,

 

I was just browsing through the internet last night (as you do when the weather is against you) and came across a site: http://www.ladderloans.c o.u k. Apparently, they are a trading name of Inventive Finance Ltd and offer loans between 6 and 18 months at around 299% APR.

 

I've searched to see if there was any other information on them on the web but can't find anything other than [problem] checks saying the site is okay, but nobody's personal experience of using the company. Apparently, they are a direct lender as there is no mention of brokering anywhere on the site.

 

Just interested to know if anyone's had any dealings with either them or Inventive Finance.

 

Cheers,

MB78

[MARTIN3030]

Also trade as

 

Kite Kite Credit Kite Finance Kite Financial Freedom Kite Money Kyzoo Kyzoo Black Kyzoo Classic Kyzoo Clear Kyzoo Flexi Kyzoo Platinum Kyzoo Ultra Kyzoo Vintage Ladder Credit Ladder Finance Ladder Loans Payday Now Phone Lounge The Phone Lounge

[ecotrojan]

Hi, I applied for a loan with Ladder about 5 months ago and to be fair, thought I would be turned down.

 

They gave me the loan albeit for £500.00 and yes the interest rate is high but I have been a high risk in the past.

 

Once the application has been sent online, they do like to call you just to confirm your details (which i don't like) but hey, I got the loan over a 12 month period

 

Yes I am paying double back but at the time I/we were in a corner and needed to borrow some money over a longer period than the Pay Day vermin of 30 days.

 

Hope this helps.

 

Thanks

Matt

[Nao]

The guy running Inventive Finance is a former director of MEM Consumer finance (Paydayuk and various other trading names).

[mightyblues78]

Thanks for the feedback everyone, it's really interesting to see how many of these companies are linked by just a couple of people!

 

ecotrojan, thanks for that info. I'm glad they were able to help you out in your situation - with so many [problem] PDL sites floating around just trying to collect details, it can be really tricky to know which ones are genuine lenders.

 

Cheers,

MB78

[MARTIN3030]

There are now 1000s of PDL names.

75% of them are associated.

The biggest list I saw was a sole trader who had more than 40 different ones running under his CC licence.

 

The OFT is now scrutinising new licence applications,and there is now a much longer waqiting time before approval.

The problem seems to be with existing licence holders who simply apply to have more added.

[renegadeimp]

Isnt the waiting time for a licence now around 9 months or so. Or at least i think it was 4-6 weeks ago.